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California mortgage calculator

The median home in California runs about $785,000. With 20% down that's a loan near $628,000 — the calculator is pre-filled with that figure. California's Proposition 13 caps assessed-value growth, so the effective property tax rate looks modest, but the highest median home price in the country means the dollar payment is still among the nation's largest. The state does not credit a trade-in against vehicle sales tax.

$4,077.37 / month

Total interest
$839,854
Total paid
$1,467,854
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$157k$314k$471k$628k0612182430Year

How it works

A full California payment is more than principal and interest. At the state's 0.75% effective property tax rate, a $785,000 home owes about $5,888 a year in tax, and homeowners insurance averages roughly $1,400 a year here. Together those add about $607 to the monthly payment before any HOA dues or PMI.

California's median household income is about $96,000, or $8,000 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,240 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in California sell in about 30 days on average.

Frequently asked questions

What is a typical mortgage payment in California?
On the state's roughly $785,000 median home with 20% down, the loan is about $628,000. Principal and interest depend on your rate; on top of that, California's 0.75% effective property tax rate and about $1,400 a year in homeowners insurance add roughly $607 per month to the payment.
How much are property taxes on a home in California?
California's effective property tax rate averages about 0.75% of market value — roughly $5,888 a year on the $785,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in California?
The average California homeowners policy runs about $1,400 a year. California's Proposition 13 caps assessed-value growth, so the effective property tax rate looks modest, but the highest median home price in the country means the dollar payment is still among the nation's largest. The state does not credit a trade-in against vehicle sales tax.
Can I afford a home in California on the median income?
California's median household income is about $96,000 a year, or $8,000 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,240 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in California?
A for-sale home in California spends about 30 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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