Alabama mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, includi...ng your principal and interest, taxes, insurance, and PMI in Alabama. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

Alabama housing market

Housing is relatively affordable in Alabama, The Yellowhammer State. Even though Al...abama average income levels trail the U.S. average, Alabamians spend ~18% of income on housing costs - which is less than the national average. Housing prices have been growing in recent years, but trail average growth in the U.S. The Birmingham suburb of Hoover has among the highest home prices in Alabama - and was also home to an MTV reality series highlighting its high school football program.

Your monthly payment
$1,599
30 year fixed loan term
Monthly payment
Principal & interest

$1,163

Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types

Total principal: $240,000

Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,011$1,437
Mortgage Rate4.125%2.274%*2.92%*
Total interest paid
$178,737
$43,480
$120,549
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,011$1,437
Mortgage Rate4.125%2.274%*2.92%*
Total interest paid
$178,737
$43,480
$120,549
Amortization

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Remaining
$240,000
Principal Paid
$0
Interest Paid
$0
Year 0
drag me
1
30
Years

We’ll share an interesting insight here for key milestones in your payoff schedule.

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Principal & interest

$1,163

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Alabama mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate2.899%2.957%
20-year fixed-rate2.729%2.816%
15-year fixed-rate2.182%2.290%
10-year fixed-rate2.008%2.149%
7/1 ARM2.691%3.165%
5/1 ARM2.580%3.232%
30-year fixed-rate FHA2.627%3.289%
30-year fixed-rate VA2.636%2.928%

Data source: ©Zillow, Inc. 2006 – 2020. Use is subject to the Terms of Use

Today's rate

2.957%
30-year fixed

Today’s mortgage rates in Alabama are 2.957% for a 30-year fixed, 2.290% for a 15-year fixed, and 3.232% for a 5/1 adjustable-rate mortgage (ARM).

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Alabama's first-time home buyer programs

The Alabama Housing Finance Authority, or AHFA, offers several loan programs to help qualified first-time home buyers get a mortgage.

Alabama Step Up

State program

Learn more

at AHFA

Best for

Down payment assistance

What you need to know

Step Up helps eligible low- to moderate-income home buyers purchase a new or existing home with a 30-year, fixed-rate conventional or FHA mortgage. Your income must be under certain limits, regardless of household size or where in Alabama you buy the home. Features include up to 3.5% down payment...

See full article

Average property tax in Alabama counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Alabama. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

County
Avg. property tax rate
Avg. home value
Barbour County0.31%$89,300
Bibb County0.23%$105,500
Blount County0.27%$122,200
Bullock County0.25%$66,800
Butler County0.29%$88,800
Calhoun County0.33%$117,700
Chambers County0.32%$86,400
Cherokee County0.31%$116,300
Chilton County0.28%$98,600
Choctaw County0.18%$69,000
Clarke County0.24%$93,500
Clay County0.23%$89,300
Cleburne County0.28%$111,800
Coffee County0.35%$147,800
Colbert County0.31%$108,500
Conecuh County0.32%$76,100
Coosa County0.2%$87,300
Covington County0.27%$96,200
Crenshaw County0.33%$76,800
Cullman County0.25%$123,700
Dale County0.31%$108,000
Dallas County0.34%$80,800
DeKalb County0.26%$114,500
Elmore County0.25%$158,500
Escambia County0.31%$94,500
Etowah County0.36%$115,200
Fayette County0.24%$83,200
Franklin County0.35%$87,600
Geneva County0.27%$87,800
Greene County0.29%$67,700
Hale County0.26%$88,800
Henry County0.28%$112,600
Houston County0.29%$138,800
Jackson County0.28%$105,000
Jefferson County0.61%$160,200
Lamar County0.25%$71,500
Lauderdale County0.36%$144,800
Lawrence County0.26%$98,700
Lee County0.44%$160,700
Limestone County0.33%$158,500
Lowndes County0.42%$63,000
Macon County0.35%$77,100
Madison County0.45%$182,400
Marengo County0.26%$88,100
Marion County0.27%$87,200
Marshall County0.34%$121,600
Mobile County0.48%$131,200
Monroe County0.26%$88,000
Montgomery County0.35%$128,200
Morgan County0.35%$143,000
Perry County0.34%$69,100
Pickens County0.24%$91,800
Pike County0.28%$109,200
Randolph County0.27%$85,200
Russell County0.42%$114,700
Shelby County0.47%$207,300
St. Clair County0.28%$145,300
Sumter County0.28%$69,500
Talladega County0.33%$103,200
Tallapoosa County0.28%$107,000
Tuscaloosa County0.35%$167,400
Walker County0.23%$104,100
Washington County0.25%$83,900
Wilcox County0.34%$81,600
Winston County0.23%$82,900

Source: American Communities Survey 2016, U.S. Census