Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Mobile mortgage calculator
A median-priced Mobile, AL home at 6.75% over 30 years, with Alabama property tax of 0.4% and $2,400 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$1,442 a month, all in
Principal and interest are $1,101; escrow and PMI add the rest. Over the full term the loan costs $226,595 in interest. Discounted at 5%, buying here has a net present value of $115,836 ($275,480 in today’s dollars).
Within Alabama, Mobile is 4th of the 5 Alabama markets covered here, between Huntsville at the top and Montgomery at the bottom of a 1.60x spread. A state-level median hides most of that.
At $188,600 to buy and $1,215 a month to rent, the price-to-rent ratio is 12.9 — low. Ownership tends to pull ahead quickly at that level, and the binding question is transaction costs rather than the monthly comparison.
Mobile is cheaper than Alabama as a whole — $188,600 against a state median of $230,000, roughly 18% below. On a 20% deposit that is $8,280 less to find up front.
Monthly cost in Mobile vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $188,600 |
|---|---|
| Down payment (10%) | $18,860 |
| Loan amount | $169,740 |
| Principal & interest | $1,101/mo |
| Property tax (0.4%) | $63/mo |
| Homeowners insurance | $200/mo |
| PMI while above 80% LTV | $78/mo |
| Total monthly payment | $1,442/mo |
| Comparable rent | $1,215/mo |
What a rate move does to the Mobile payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $964/mo |
| 6% | $1,018/mo |
| 6.5% | $1,073/mo |
| 7% | $1,129/mo |
| 7.5% | $1,187/mo |
| 8% | $1,245/mo |
Rent or buy in Mobile?
Against $1,215 a month in rent, over 7 years buying leaves you about $6,472 better off — $5,445 once 2.5% inflation is stripped out. See the Alabama rent-vs-buy page.
Where these numbers come from
Alabama medians come from editorial and are refreshed weekly. The Mobile figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.