Alabama Mortgage Calculator

Use this free Alabama mortgage calculator to estimate your monthly mortgage payments and annual amortization.

Loan details

Total monthly payment

$2,105.06

Total principal
$240,000
Total interest payments
$325,221.52
Total loan payments
$565,221.52
Payoff date

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Getting a Mortgage in Alabama

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Last updated 11/04/2025
Housing is relatively affordable in Alabama, The Yellowhammer State. Even though Alabama average income levels trail the U.S. average, About 26.8% of Alabamians spend 30% or more of their 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.

Alabama mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate6.815%6.817%
20-year fixed-rate6.714%6.720%
15-year fixed-rate5.938%5.946%
7-year ARM6.965%6.789%
5-year ARM7.375%6.964%
30-year fixed-rate VA5.973%6.307%
Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

6.817%

30-year fixed

Today's mortgage rates in Alabama are 6.817% for a 30-year fixed, 5.946% for a 15-year fixed, and 6.964% for a 5-year adjustable-rate mortgage (ARM).

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.

Average property tax by county

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.

CountyAvg. property tax rateMedian home value
Autauga County0.27%$191,800
Baldwin County0.28%$304,600
Barbour County0.32%$102,700
Bibb County0.19%$120,100
Blount County0.28%$159,800
Bullock County0.34%$87,700
Butler County0.25%$94,800
Calhoun County0.32%$148,100
Chambers County0.28%$116,900
Cherokee County0.32%$158,700
Chilton County0.29%$136,000
Choctaw County0.21%$101,600
Clarke County0.25%$126,200
Clay County0.20%$144,100
Cleburne County0.28%$131,900
Coffee County0.31%$162,200
Colbert County0.30%$148,500
Conecuh County0.23%$98,800
Coosa County0.19%$109,500
Covington County0.21%$124,300
Crenshaw County0.27%$100,400
Cullman County0.21%$184,800
Dale County0.29%$123,800
Dallas County0.37%$91,600
DeKalb County0.30%$157,700
Elmore County0.25%$204,700
Escambia County0.28%$122,000
Etowah County0.31%$167,400
Fayette County0.15%$112,700
Franklin County0.30%$121,600
Geneva County0.24%$120,700
Greene County0.28%$88,800
Hale County0.25%$109,400
Henry County0.29%$132,400
Houston County0.27%$181,800
Jackson County0.26%$126,900
Jefferson County0.58%$237,200
Lamar County0.25%$108,200
Lauderdale County0.33%$188,300
Lawrence County0.25%$134,200
Lee County0.43%$263,900
Limestone County0.32%$284,800
Lowndes County0.28%$83,400
Macon County0.33%$93,900
Madison County0.40%$295,400
Marengo County0.32%$98,600
Marion County0.26%$104,300
Marshall County0.32%$186,200
Mobile County0.45%$180,300
Monroe County0.25%$109,300
Montgomery County0.36%$167,000
Morgan County0.34%$207,400
Perry County0.28%$81,700
Pickens County0.20%$119,800
Pike County0.23%$144,500
Randolph County0.23%$155,000
Russell County0.39%$141,900
Shelby County0.42%$322,800
St. Clair County0.26%$225,900
Sumter County0.22%$88,000
Talladega County0.29%$138,500
Tallapoosa County0.26%$127,100
Tuscaloosa County0.33%$256,200
Walker County0.25%$124,100
Washington County0.21%$138,100
Wilcox County0.24%$83,200
Winston County0.23%$111,600
Source: American Communities Survey 2022, U.S. Census

How to use the mortgage calculator

To use our mortgage calculator, simply add your details to the following fields:
  1. Home price
  2. Down payment
  3. Interest rate
  4. Loan term (years)
After you enter these four pieces of information, the calculator displays the monthly payment inside the "Loan Estimate" window. It also displays:
  • Total principal
  • Total interest payments
  • Total loan payments
  • Payoff date

Calculating costs in addition to principal and interest

The calculator lets you fine-tune your payment by entering your annual property tax premium, annual home insurance premium, monthly homeowner association (HOA) fee, and monthly private mortgage insurance (PMI) premium.
To enter this information, click “Show Advanced Info” underneath the main loan details. Note that you'll enter the annual cost for property taxes and home insurance and the monthly cost for HOA fees and PMI premiums. The PMI field will only display if your down payment is less than 20%.
In the “Loan Estimate” window, select "Amortization Schedule" to uncover a table that shows how much you'll pay in principal and interest each month, as well as the remaining amount you owe ("Principal balance") after making the payment.

Explanation of terminology

  • Total monthly payment: An estimate of all your monthly housing costs, covering your loan principal, interest, taxes, insurance, and PMI.
  • Total principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.
  • Total interest payments: How much interest you would pay over the life of the loan.
  • Total loan payments: The entire amount of principal and interest paid, excluding taxes, insurance, and PMI.
  • Down payment: The portion of the home’s price you pay in cash upfront. 
  • Interest rate: How much the lender charges you to lend you the money. Interest rates are expressed as an annual percentage. A lower interest rate gives you a smaller monthly payment.
  • Loan term (years): The number of years you have to repay the mortgage. A longer term gives you a lower monthly payment, but you’ll pay more interest.
  • Start date: The month that your first mortgage payment is due.
  • Payoff date: The month your home will be fully paid off based on the loan term.
  • Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual property tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.
  • Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual homeowners insurance premium each month, and the servicer pays the bill when it's due.
  • Monthly HOA fees: The amount you may pay each month if you belong to a homeowners association. Typically, these dues are billed directly, not added to the monthly mortgage payment. Because HOA dues can be easy to forget when considering the cost of homeownership, NerdWallet's mortgage calculator allows you to enter them here.
  • Private mortgage insurance: If you get a conventional mortgage and put down less than 20%, you’ll have to pay a monthly PMI premium. It covers the lender if you default on the loan and can be canceled once you reach 20% equity. FHA loans require a similar fee called a mortgage insurance premium
If you're looking to see how much you could save by refinancing your mortgage, try NerdWallet's refinance calculator.
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