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Alabama: $36,760. Monthly mortgage payment: $919 Monthly income needed: $3,063.33 Alabamians enjoy a lower cost of living, with home prices well below the national average.
Note: To calculate the monthly principal and interest payment, we assume a 30-year mortgage at a fixed 6.9 percent interest rate and a 20 percent down payment. Home price Loan size
Alabama. Monthly mortgage payment: $1,200. 2024 average home value: $214,175. Yearly mortgage: $14,398. For You: I’m a Real Estate Agent: 5 Cities Where Homes Will Be the Best Bargains in 2024 ...
Alabama. Average home value (January 2024): $214,175. Amount needed for 10% down payment: $21,418. Average monthly mortgage with 10% down payment: $1,275
The fixed monthly payment for a fixed rate mortgage is the amount paid by the borrower every month that ensures that the loan is paid off in full with interest at the end of its term. The monthly payment formula is based on the annuity formula. The monthly payment c depends upon: r - the monthly interest rate. Since the quoted yearly percentage ...
Before you buy a home, it's important to find out if you can afford the monthly mortgage payment. Read: Tips To Get Your Mortgage Payments as Low as Possible See: 32 Insider Tips for Buying and...
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