Alabama Closing Costs Calculator
Estimate closing costs for buying a home in Alabama. Average closing costs run 1.4% of the purchase price (about $3K on the median home).
Alabama: Avg closing costs 1.4% of price. Transfer tax: 0%.
Lender Fees
$2,081
origination, underwriting
Third-Party
$2,600
appraisal, title, inspection
Government Fees
$0
transfer taxes, recording
Prepaids + Escrow
$3,299
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$1,656
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,450
Recording Fee$150
Prepaid Taxes (3 mo)$236
Prepaid Insurance (12 mo)$1,950
Prepaid Interest (15 days)$553
Escrow Reserves$561
Total Closing Costs$7,980
Alabama Housing at a Glance
Median Home Price
$230K
Alabama statewide
Property Tax Rate
0.41%
$79/mo on median
Avg Closing Costs
$3K
1.4% of purchase price
Homeowners Insurance
$1,950/yr
$163/mo
Alabama First-Time Buyer Program
Alabama Housing Finance Authority Step Up
Down payment assistance: Up to $10,000 DPA