Mortgage on a $100K house in Alabama
$620 a month with 20% down — $538 principal and interest plus $32 property tax and $50 insurance.
Alabama's typical property tax is 0.38% of the home's value a year (U.S. average 0.9%), which adds $32 a month on a $100K home. The typical home in Alabama is worth $238,614, so $100K is 58% below the typical price.
$100K home in Alabama: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $20,000 | $80,000 | $538 | $0 | $82 | $620 | $26,600 |
| 10% down | $10,000 | $90,000 | $605 | $38 | $82 | $725 | $31,100 |
| 5% down | $5,000 | $95,000 | $639 | $40 | $82 | $761 | $32,600 |
| 3.5% down (FHA) | $3,500 | $98,189 | $661 | $44 | $82 | $787 | $33,700 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.38% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Alabama does $100K buy a typical home?
In these counties the typical home value is within 15% of $100K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Sumter County | $93,486 | 0.43% | $624 |
| Butler County | $111,464 | 0.36% | $618 |
| Choctaw County | $113,788 | 0.17% | $602 |
| Bullock County | $114,120 | 0.41% | $622 |
2 of 67 Alabama counties tracked by Zillow have a typical home value at or below $100K. See all Alabama home prices.
Other prices in Alabama
Frequently asked questions
What is the mortgage on a $100K house in Alabama?
About $620 a month with 20% down at 7.11%: $538 principal and interest, $32 property tax and $50 insurance.
How much do I need to make to buy a $100K house in Alabama?
About $26,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $100K house in Alabama?
At Alabama's typical effective rate of 0.38%, about $384 a year. Rates vary by county and city — see the county pages.