When it comes to mortgage payments, homeowners in Alabama pay around $99 less than the national average. But before purchasing a home in Alabama, consider other factors like the state’s tax rates and your personal finances.
Alabama has the second-lowest real estate tax rate and annual property tax, turning out to 0.41% and $895, respectively. You can browse through Alabama’s Department of Revenue website to learn about the state’s property taxes.
With MoneyGeek’s Alabama mortgage calculator, you’ll get a more personalized quote and be able to tweak factors according to your unique situation. This guide also includes why and how to use our mortgage calculator, how to lower your monthly payments and more. It’ll be easier to compare offers from several lenders and determine the right option for you based on your loan payments, taxes and other related expenses.