Enter your loan details below to estimate your total monthly payment — including principal and interest, property taxes, homeowner’s insurance, and PMI if your down payment is under 20%.

Example rate only — APR will differ. Enter the note rate quoted by your lender, not APR.
Mobile County: ~0.35% of assessed value. Baldwin County: ~0.40%.
Gulf Coast rates vary widely — get an actual quote before closing.
Typical range: 0.5–1.5%. Varies by lender, credit score, and LTV.

Monthly Payment Breakdown
Principal & Interest
Property Taxes
Homeowner's Insurance
PMI
Total Monthly Payment (PITI)
Loan Summary
Loan Amount
Down Payment
Total Interest Paid (life of loan)

How to Use This Calculator

Home Price and Down Payment: Enter the purchase price and your planned down payment. The calculator shows your down payment as a percentage of the purchase price — 20% or more avoids PMI on a conventional loan.

Interest Rate: Enter your rate, not APR. APR includes lender fees and will be higher than the note rate. Use the rate quoted by your lender after pre-approval; do not use the rate shown in advertisements or on rate comparison sites without verifying it reflects your actual loan scenario.

Property Taxes: Alabama property taxes are assessed on a fraction of market value (10% of assessed value for non-owner-occupied; 10% for owner-occupied then homestead exemption applies). As a rough estimate:

  • Mobile County: ~0.35% of purchase price per year
  • Baldwin County: ~0.40% of purchase price per year

Verify the exact assessment for any specific property with the county tax assessor.

Homeowner’s Insurance: Gulf Coast insurance rates vary significantly based on proximity to the coast, flood zone, age of construction, and roof material. Always get an actual quote before relying on an estimate.

PMI: Private Mortgage Insurance is required on conventional loans when your down payment is less than 20%. It is removed when your loan balance reaches 80% of the original home value. FHA loans use a different mortgage insurance structure (upfront premium + annual MIP) — see the FHA vs. Conventional Comparison for a detailed comparison.

This calculator provides estimates for planning purposes only. Actual payment amounts will depend on your specific loan terms, lender fees, tax assessments, and insurance quotes. Consult a licensed Alabama mortgage lender for actual payment calculations and APR disclosure. Equal credit opportunity is available to all — we do not discriminate on any basis prohibited by law.

Know your payment — now find the right home.

Once you have a payment range in mind, the next step is seeing what's available in your budget across Baldwin and Mobile counties. Get in touch and let's talk through the market.

Get in Touch →

Milton Christ, REALTOR® | naf Cash Certified | Keller Williams Alabama Gulf Coast | AL License #172097