Calculate your monthly mortgage payment in Alabama. Pre-filled with Alabama's median home price of $218,000 and an average property tax rate of 0.41%.
Est. Monthly Payment
$1,451
Principal & Interest
$1,286
Property Tax / mo
$74
Total Interest Paid
$266,623
| Home Price | $218,000 | Median home price in Alabama (2025) |
| Down Payment | 10% ($21,800) | Typical down payment percentage |
| Loan Amount | $196,200 | Home price minus down payment |
| Interest Rate | 6.85% | Approximate 30-year fixed rate (2025 avg) |
| Loan Term | 30 years | Most common mortgage term |
| Property Tax | 0.41% / year | Alabama average effective rate |
| Home Insurance | 0.5% / year | Approximate annual premium |
Step Up, Mortgage Credit Certificate (MCC)
Cost of living: Low · Population: 5,024,279
Alabama has a median home price of approximately $218,000, placing it below the national median. With a 10% down payment of $21,800, a typical buyer would finance $196,200 over 30 years. At a 6.85% fixed rate, the monthly principal and interest payment comes to $1,286.
Property taxes in Alabama average 0.41% of the assessed home value annually — one of the lower rates in the country. Combined with an estimated $91 for homeowners insurance, your all-in monthly housing cost is approximately $1,451.
Using the 28% housing cost guideline, you would need a gross annual income of approximately $62,169 to qualify comfortably. The median household income in Alabama is $54,943.
