Calculate Your Alabama Mortgage Payment
Our calculator is pre-filled with Alabama's median home price and property tax rate. Adjust the numbers to match your situation.
Open Calculator with AL DefaultsMonthly Payment Breakdown for Alabama
Here's what your monthly payment looks like on the median Alabama home ($241,517) with 20% down at 6.67%, the current average 30-year rate:
Note: This estimate assumes 20% down payment ($48,303), no PMI. With less than 20% down, add $81-$161/month for PMI.
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Alabama Property Taxes
Alabama's effective property tax rate is 0.36%, which is below the national average of 0.89%. See how property taxes are calculated and how they compare across states.
Annual Property Tax on $241,517 Home
$869
($72/month escrowed)
Buying a Home in Alabama: Key Facts
- Lowest property tax rate in the nation at 0.36%
- Very affordable median home price of $232,000
- Huntsville ranked among fastest-growing tech hubs in the Southeast
- Property taxes vary significantly by county due to local millage rates
Mortgage Calculators for Nearby States
Comparing homes across state lines? Check property taxes and home prices in neighboring states:
Alabama First-Time Homebuyer Programs
Alabama has 32 homebuyer assistance programs that can help with down payment and closing costs.
Step Up Program
Up to $10,000 or 4% of purchase price for down payment
Deferred LoanAHFA Mortgage Credit Certificate
Up to 50% of annual mortgage interest as federal tax credit
Tax CreditAlabama Housing Finance Authority
Below-market interest rates on 30-year fixed mortgages
Low-Interest MortgageEligibility requirements typically include income limits, credit score minimums (usually 620+), and homebuyer education courses. Visit DownPaymentResource.com to search for programs you may qualify for.
Major Cities in Alabama
Home prices and property taxes can vary significantly by city. The median home value of $241,517 is a statewide estimate.
Alabama Mortgage FAQ
What is the property tax rate in Alabama?
The average effective property tax rate in Alabama is 0.36%. On a $241,517 home, that's approximately $869 per year or $72 per month added to your mortgage payment.
What is the median home value in Alabama?
The median home value in Alabama is $241,517 as of 2026-06-01. Prices vary by location - Birmingham and Montgomery typically have higher prices than rural areas.
Are there first-time homebuyer programs in Alabama?
Yes, Alabama has 32 homebuyer assistance programs. Popular options include Step Up Program, which offers up to $10,000 or 4% of purchase price for down payment.
How much do I need to buy a house in Alabama?
For the median Alabama home ($241,517), you'd need $48,303 for a 20% down payment, plus $7,246-$12,076 for closing costs. With down payment assistance, you could potentially buy with as little as $8,453 (3.5% FHA down payment).
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Calculate Your AL Mortgage Payment