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Alabama mortgage calculator

Pre-filled for Alabama: the median home value ($235,000) and the state's effective property tax rate of 0.38%. Change anything to match your home.

Home price
Down payment$47,000
%
Interest rateAPR, fixed
%
Loan term
Extra monthly paymenttoward principal
/ mo

Estimated monthly payment

$1,412.71

Loan $188,000 · 20% down

  • Principal & interest$1,188.29
  • Property tax$74.42
  • Home insurance$150.00
See the month-by-month schedule →
Total interest
$239,782
Total cost
$508,573
Payoff time
30 yr
PMI paid
None

Principal vs. interest by year

1: Principal 2,101, Interest 12,15812: Principal 2,242, Interest 12,0173: Principal 2,392, Interest 11,8674: Principal 2,552, Interest 11,70745: Principal 2,723, Interest 11,5366: Principal 2,906, Interest 11,3547: Principal 3,100, Interest 11,1598: Principal 3,308, Interest 10,95189: Principal 3,530, Interest 10,73010: Principal 3,766, Interest 10,49411: Principal 4,018, Interest 10,24112: Principal 4,287, Interest 9,9721213: Principal 4,574, Interest 9,68514: Principal 4,881, Interest 9,37915: Principal 5,208, Interest 9,05216: Principal 5,556, Interest 8,7031617: Principal 5,929, Interest 8,33118: Principal 6,326, Interest 7,93419: Principal 6,749, Interest 7,51020: Principal 7,201, Interest 7,0582021: Principal 7,683, Interest 6,57622: Principal 8,198, Interest 6,06123: Principal 8,747, Interest 5,51224: Principal 9,333, Interest 4,9272425: Principal 9,958, Interest 4,30226: Principal 10,625, Interest 3,63527: Principal 11,336, Interest 2,92328: Principal 12,096, Interest 2,1642829: Principal 12,906, Interest 1,35430: Principal 13,768, Interest 48930
PrincipalInterest

Amortization schedule by year

YearPrincipalInterestBalance
1$2,101$12,158$185,899
2$2,242$12,017$183,657
3$2,392$11,867$181,264
4$2,552$11,707$178,712
5$2,723$11,536$175,989
Monthly payment$1,412.71

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Alabama at a glance

Effective property tax
0.38%
Rank (1 = highest)
50th of 51
Median home value
$233,300
Median tax bill
$890/yr

On the same $400,000 home, property tax in Alabama adds about $126.67/month, versus $296.67/month at the national rate.

Alabama mortgage payments by home price

Home pricePrincipal & interestProperty taxTotal / month
$125,000$632.07$39.58$821.65
$175,000$884.90$55.42$1,090.32
$225,000$1,137.72$71.25$1,358.97
$350,000$1,769.79$110.83$2,030.62
$475,000$2,401.86$150.42$2,702.28

20% down, 6.5% 30-year fixed (example rate), 0.38% property tax, $1,800/yr insurance, no HOA. Also see: how much house you can afford in Alabama.

Mortgage calculators for other states

Assumptions

  • Fixed interest rate for the full term.
  • Property tax, insurance and HOA stay constant (in reality they usually rise over time).
  • PMI applies only when the loan is over 80% of the home price, and stops once the balance reaches 78% of the original price.
  • Extra payments go entirely to principal.
  • Alabama figures: Effective rate = ACS median real estate taxes paid ÷ ACS median value, owner-occupied housing units, by state. Source: US Census Bureau ACS 2024.

Frequently asked questions

What is the property tax rate in Alabama?+

The effective property tax rate in Alabama is about 0.38% of home value a year (median taxes paid $890 on a median home worth $233,300). That's the 50th highest of 50 states and DC, and lower than the national 0.89%. Your actual bill depends on your county, city and exemptions.

What's the mortgage payment on a median-priced home in Alabama?+

For a $235,000 home with 20% down at an example 6.5% 30-year rate, the payment is about $1,412.71 a month, including $74.42 of property tax and $150.00 of insurance.

How much income do I need to buy a home in Alabama?+

To afford the median Alabama home ($235,000) under the 28/36 guideline with 10% down and no other debts, you'd need roughly $71,000 a year in gross income at a 6.5% rate.

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Last reviewed October 14, 2026. Calculator version 1.0.0. Sources: US Census Bureau, ACS 2024 1-year, Table B25103 (Median Real Estate Taxes Paid) · US Census Bureau, ACS 2024 1-year, Table B25077 (Median Value, Owner-Occupied). Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.