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Kodiak Island Borough FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Kodiak Island Borough, Alaska based on real HMDA transaction records.

Loan Details

Kodiak Island Borough, AK Benchmarks

FHA averages
Typical Property Value$368,571
Average Down Payment8.1%
Average Interest Rate6.113%
Effective Tax Rate0.70%
Median Tax Paid$3,569/yr
Tax Growth (Historical)-1.3%
Based on 14 regional loans totaling $4,580,000 (HMDA database).
$
%

$29,854 down · $338,717 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$215 / month

$

Annual premium

$

Per month

%

$144 / month

Estimated Monthly Payment

$2,599/mo

  • Principal & Interest$2,091
  • Property Tax$215
  • Home Insurance$150
  • FHA MIP$144
Amortization · Remaining Balance

Financed Loan Amount

$344,644

Total Interest

$408,027

Total of Payments

$752,671

*Includes financed FHA Upfront MIP of $5,928

Local Market Insights

Kodiak Island Borough FHA Mortgage Overview

For Kodiak Island Borough homebuyers, the 8.12% down payment on an FHA loan is a strategic entry point, requiring just under $30,000 on the average $368,571 property. However, with a 91.88% Loan-to-Value ratio, mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, a key factor when evaluating an FHA loan calculator with PMI and taxes in Kodiak Island Borough, AK. The effective property tax rate of 0.70% is moderate, and the recent -1.3% inflation-adjusted tax shift offers slight relief on monthly affordability. Given the 100% primary occupancy rate, this data reflects owner-occupied purchases, not investments, making FHA’s accessible terms ideal for buyers with sub-620 credit seeking a primary residence.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.