Buying a Home in Alabama
The real estate prices in Alabama continue to rise due to supply and demand. Estimates show that housing prices have risen 15.8% from 2020. Even though the cost of homeownership in Alabama is on the rise, you can still purchase a home in Alabama for considerably less than the national average.
According to Zillow, the median price for a home in Alabama is $180,992, slightly higher than in a neighboring state like Mississippi. Even though that is up 15.8% from the previous year, it is still much cheaper than many other places in the country. The median price for a home in Oregon is $479,135. The median home price in Utah is almost $505,789. The point being is that 15.8% up from a price that was already very inexpensive shouldn’t put much of a hindrance in your way to owning a home in Alabama.
Refinancing in Alabama
There are countless benefits to refinancing your home loan. Ridding yourself of PMI, lowering interest rates, consolidating debt, and funding home renovations are just some of the many reasons people choose to refinance their mortgages.
Alabama Mortgage Calculator
Mortgage calculators can help determine your mortgage payment and break down that payment into individual expenses such as taxes, insurance, and HOA fees. Calculate your monthly mortgage payment for a home in Alabama by inputting your loan term, home price, and down payment into the corresponding box on the mortgage calculator.
In addition to the mortgage calculator, we offer a loan comparison calculator, rent vs. buy calculator, and refinance calculator among others. Our goal is to provide clients with a full suite of tools so that they may make the most informed decision possible about their home loans.
Best Mortgages in Alabama
ARM (adjustable rate mortgages), government-insured mortgages (FHA, VA, and USDA-backed mortgages), fixed-rate mortgages, and conventional mortgages are all available to Alabama residents through The Home Loan Expert. If you aren’t sure which of these or other available loans is best for you, then check out a full list of home loan options available to those in Alabama.
The Home Loan Expert
The Home Loan Expert offers Alabama residents the most competitive mortgage rates in the state. We serve the people of Alabama in Montgomery, Mobile, Birmingham, Auburn, Huntsville, Gulf Shores, Tuscaloosa, and many other cities.
The Home Loan Expert has decades of experience in the mortgage industry. We have expanded to 18 states. We look forward to helping you finance your dream home in Alabama.
