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.
Montgomery mortgage calculator
A median-priced Montgomery, 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.
$1,381 a month, all in
Principal and interest are $1,047; escrow and PMI add the rest. Over the full term the loan costs $215,542 in interest. Discounted at 5%, buying here has a net present value of $117,026 ($271,969 in today’s dollars).
Within Alabama, Montgomery is the cheapest of the 5 Alabama markets covered here — Huntsville runs about 1.60x these prices. Buyers priced out of the expensive end of the state often end up comparing exactly this pair.
At $179,400 to buy and $1,188 a month to rent, the price-to-rent ratio is 12.6 — low. Ownership tends to pull ahead quickly at that level, and the binding question is transaction costs rather than the monthly comparison.
Montgomery is cheaper than Alabama as a whole — $179,400 against a state median of $230,000, roughly 22% below. On a 20% deposit that is $10,120 less to find up front.
Monthly cost in Montgomery vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $179,400 |
|---|---|
| Down payment (10%) | $17,940 |
| Loan amount | $161,460 |
| Principal & interest | $1,047/mo |
| Property tax (0.4%) | $60/mo |
| Homeowners insurance | $200/mo |
| PMI while above 80% LTV | $74/mo |
| Total monthly payment | $1,381/mo |
| Comparable rent | $1,188/mo |
What a rate move does to the Montgomery payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $917/mo |
| 6% | $968/mo |
| 6.5% | $1,021/mo |
| 7% | $1,074/mo |
| 7.5% | $1,129/mo |
| 8% | $1,185/mo |
Rent or buy in Montgomery?
Against $1,188 a month in rent, over 7 years buying leaves you about $8,812 better off — $7,413 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 Montgomery 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.