Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /California

California Mortgage Calculator

Set to California’s own property tax rate of 0.71% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($152,000)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$4,546
Monthly payment
$3,875
Principal & interest
$450
Taxes
$222
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $608,000 Interest paid $787,006
20262056
Total of 360 payments$1,636,686
Principal$608,000
Interest$787,006
Taxes$161,880
Insurance$79,800
HOA fees$0
P&I 85.2% Taxes 9.9% Insurance 4.9%
15- vs 30-year term at 6.58%
15-year
$5,323/mo P&I
$350,160 total interest
30-year · current
$3,875/mo P&I
$787,006 total interest
The 15-year term saves $436,847 in interest. Which term is right for you?

What these numbers come from

Median home value
$759,500
Median tax bill
$5,369
Effective tax rate
0.71%
Rank of 51
30th highest

California taxes property at about 0.71% of value against 0.89% nationally. On a $760,000 home that is $114 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across California home prices

20% down, 30-year fixed at 6.58%, with California property tax of 0.71% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$456,000 $364,800 $2,325 $270 $2,728
$608,000 $486,400 $3,100 $360 $3,637
$760,000 median $608,000 $3,875 $450 $4,546
$949,000 $759,200 $4,839 $561 $5,677
$1,139,000 $911,200 $5,807 $674 $6,814

The gap between the P&I column and the last one is what a mortgage quote leaves out. In California taxes alone add $450 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $541 $3,334 $671 $607,459
Sep $544 $3,331 $671 $606,915
Oct $547 $3,328 $671 $606,368
Nov $550 $3,325 $671 $605,818
Dec $553 $3,322 $671 $605,264
2026 $2,736 $16,639 $3,357 $605,264
Jan $556 $3,319 $671 $604,708
Feb $559 $3,316 $671 $604,149
Mar $562 $3,313 $671 $603,587
Apr $565 $3,310 $671 $603,021
May $568 $3,307 $671 $602,453
Jun $572 $3,303 $671 $601,881

Refinancing in California

Two things matter in California. Balances are large, so the same drop in rate returns far more in absolute dollars than it would elsewhere. And refinancing does not count as a change in ownership under Proposition 13, so it will not trigger a reassessment of your property taxes, whatever the home is worth now.

Work the break-even with the refinance calculator, or check this week’s national average rates.

California home loans in detail

California Mortgage Overview

California is the Golden State — home to many of the country's largest cities, it has a diverse population and plenty of sunshine to go around.

The median home price in California is around $855,000, so it's not the least expensive place to live, but if it's within your budget, there are beautiful homes to purchase for families of all sizes.

If you're looking to borrow money for a California home, here are your options.

California conventional loans

Borrowers with great credit get the best terms with a conventional loan. You don't need perfect credit - usually around a 660, but your debts must be under control too. Show lenders, you're a good borrower and you'll snag the low rates available today.

California FHA loans

If you have less-than-perfect credit or your credit card debt is higher than conventional lenders like the FHA loan is a good option. With more flexible guidelines, you only need a 580 credit score and a 3.5 percent down payment. Some borrowers get a loan with as little as a 500 credit score, but a 10 percent down payment.

California VA loans

If you served our country, the VA has your back. You can get a loan with 100 percent financing (no down payment). As long as you prove you have enough money to cover your debts and living expenses, have 'decent' credit, and any discharge other than dishonorable, you're well on your way to buying your first home with a VA loan.

California USDA loans

If sunshine and low populated areas sound great to you, check out the California USDA loan. Borrowers with at least a 640 credit score and income that's less than 115% of the area's median income may be eligible for this no down payment program with low rates and closing costs.

First-Time Homebuyer Programs in California

The California Housing Agency helps first-time homebuyers with any credit score or qualifying factors secure financing. As long as you meet the income requirements, you may be eligible for the following:

  • CalHFA FHA or CalPlus FHA Loan
  • CalHFA VA Loan
  • CalHFA USDA Loan
  • CalHFA Conventional Loan or CalPlus Conventional Loan

Each is a 30-year fixed rate loan and can be combined with the MyHome Assistance Program which provides funds toward your down payment or closing costs usually at 0% interest. The loans are deferred until you sell or refinance the home.

The MyHome Assistance Program has a $10,000 cap and/or up to 3.5 percent of the sales price depending on the loan.

California mortgage FAQ

How much is property tax on a home in California?
California homeowners pay an effective property tax rate of about 0.71 percent of home value — the 30th highest of the 50 states and DC. On the state's median home value of $759,500 that works out to roughly $5,396 a year, or $450 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced California home?
At $760,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $3,875 a month. Adding California property tax of roughly $450 a month and an estimated $222 of homeowner insurance brings the full payment to around $4,546.
What mortgage choices do California homebuyers have?
California homebuyers can choose conventional loans, typically requiring around a 660 credit score and debts under control, FHA loans needing only a 580 score with 3.5 percent down or a 500 score with 10 percent down, VA loans offering 100 percent financing to those who served, and USDA loans with no down payment for buyers with a 640 score in less populated areas.
How does California help first-time homebuyers?
The state's housing agency offers CalHFA FHA, VA, USDA, and conventional loans, plus CalPlus versions, all as 30-year fixed-rate mortgages. Each can be combined with the MyHome Assistance Program, which lends money toward your down payment or closing costs, usually at zero percent interest with repayment deferred until you sell or refinance. MyHome provides up to 3.5 percent of the sales price depending on the loan.
What credit score is needed for a mortgage in California?
Conventional lenders in California generally look for a credit score around 660. FHA loans accept 580 with a 3.5 percent down payment, and some borrowers qualify with a score as low as 500 by putting 10 percent down. USDA loans require at least 640, while VA loans focus on decent credit plus enough income to cover your debts and living expenses.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.