California, CA

California Mortgage Calculator

Estimate your complete monthly payment in California including taxes, insurance & PMI

🏠 Avg Home Price: $750,000
🏛️ Property Tax: 0.74%
🛡️ Insurance: $1200/yr
📍 Largest City: Los Angeles
California Mortgage Calculator
Home Price
$50K$2M
Down Payment
3%60%
Interest Rate
1%15%
Loan Term
Property Tax (Annual)
California avg: 0.74% — $5550/yr
Home Insurance (Annual)
California avg: $1200/year
HOA Fees (Monthly)
PMI Rate
Required if down payment < 20%

Amortization Schedule

Show / Hide
YearPrincipal PaidInterest PaidRemaining Balance
Your Monthly Payment
$0
Principal · Interest · Taxes · Insurance
Principal & Interest—
Property Tax—
Home Insurance—
PMI—
HOA—
Loan Amount—
Total Interest—
Total Cost—
—
P&I share
California Housing Market
  • 🏠
    Avg Home Price
    $750,000
  • 📈
    Property Tax
    0.74% annually
  • 🛡️
    Home Insurance
    $1200/year
  • 📍
    Major City
    Los Angeles
  • 🗺️
    State Code
    CA
California Mortgage Tips
  • ✅
    Get pre-approved before house hunting in California
  • ✅
    Compare at least 3–5 lenders for best rate
  • ✅
    Check California first-time buyer programs
  • ✅
    Budget 0.74% property tax into monthly costs
  • ✅
    Consider mortgage recast to lower payments
Current Rates 2026
  • 📊
    30-Year Fixed
    ~6.5% – 7.0%
  • 📊
    15-Year Fixed
    ~5.7% – 6.2%
  • 📊
    FHA Loan
    ~6.2% – 6.8%
  • 📊
    VA Loan
    ~5.9% – 6.4%
  • 📊
    Jumbo Loan
    ~6.8% – 7.4%

California Mortgage Calculator – Complete 2026 Guide

Buying a home in California is one of the most significant financial commitments you'll make. Whether you're a first-time homebuyer in Los Angeles or refinancing an existing property, accurately estimating your monthly mortgage payment is essential for smart financial planning. Our California Mortgage Calculator gives you a complete picture of your monthly costs — including principal, interest, property taxes at California's 0.74% average rate, homeowners insurance, HOA fees, and PMI if applicable.

📌 Quick Estimate: On a $750,000 home in California with 20% down ($150,000) and a 6.8% interest rate on a 30-year loan, your estimated monthly payment is approximately $4475/month (PITI — Principal, Interest, Taxes & Insurance).

How to Use the California Mortgage Calculator

Simply enter your details into the calculator above. Here's what each field means for California homebuyers:

  • Home Price: The purchase price. Average home price in California is $750,000.
  • Down Payment: 20% = $150,000 — avoids PMI on your California mortgage.
  • Interest Rate: 2026 average in California is ~6.5%–7.0% for a 30-year fixed loan.
  • Loan Term: 30 years is most common for lower payments; 15 years saves interest.
  • Property Tax: California averages 0.74% = $5550/year on a $750,000 home.
  • Home Insurance: California average is $1200/year ($100/month).

California Property Taxes Explained

Property taxes in California are calculated as a percentage of your home's assessed value. California's average effective rate of 0.74% means on a $750,000 home, you pay approximately $5550 per year or $463 per month in property taxes. Rates vary by county — always verify with your California county assessor's office.

Monthly Cost Breakdown for California

Payment ComponentMonthlyAnnual
Principal & Interest (6.8%, 30yr)$3912$46,944
Property Tax (0.74%)$463$5550
Home Insurance$100$1200
Total PITI Payment$4475$53,700

Income Needed to Buy a Home in California

Lenders typically use the 28% front-end DTI rule — your total housing payment (PITI) should not exceed 28% of your gross monthly income.

  • Estimated monthly payment for average California home: $4475
  • Required annual gross income (28% rule): $167,657
  • Assumes 20% down payment of $150,000 and 6.8% rate

California Mortgage Rates 2026

Loan TypeAvg Rate (2026)Best For
30-Year Fixed6.5% – 7.0%Lower monthly payments
15-Year Fixed5.7% – 6.2%Pay off faster, save on interest
FHA 30-Year6.2% – 6.8%Lower credit, 3.5% down
VA Loan5.9% – 6.4%Veterans, 0% down
USDA Loan6.0% – 6.5%Rural California, 0% down

Mortgage Recast vs Refinance in California

If you already own a California home and want a lower payment:

  • Refinance: New loan at potentially lower rate — requires full underwriting, appraisal, 2%–5% in closing costs.
  • Mortgage Recast: Lump-sum payment toward principal, re-amortized at same rate. Only $150–$500 fee. No credit check. Must have conventional loan.

🔄 Use our Free Mortgage Recast Calculator to see how much you could save on your California mortgage.

Frequently Asked Questions

Everything you need to know about mortgages in California

What is the average mortgage payment in California?+
Based on California's average home price of $750,000 with a 20% down payment ($150,000) and 6.8% on a 30-year mortgage, the estimated monthly PITI payment is $4475. This includes $3912 principal & interest, $463 property tax (0.74%), and $100 insurance. Your actual payment depends on your specific loan terms, credit score, and location within California.
What is the property tax rate in California?+
California has an average effective property tax rate of 0.74% per year. On a $750,000 home that's $5550 per year ($463/month). County rates vary — check your local California county assessor's office for the precise rate in your area.
How much down payment do I need in California?+
For a $750,000 California home your options are:
  • 3.5% FHA: $26,250 — requires PMI
  • 5% Conventional: $37,500 — requires PMI
  • 10%: $75,000 — lower PMI
  • 20%: $150,000 — no PMI!
  • 0% VA/USDA: $0 — for eligible veterans & rural areas
How much income do I need to afford a home in California?+
Using the 28% debt-to-income rule, you need approximately $167,657 gross annual income to comfortably afford a $750,000 home in California with 20% down. This means your monthly housing costs ($4475) don't exceed 28% of your gross monthly income. Your actual qualifying income may differ based on debt, credit score, and lender.
Can I use a mortgage recast in California?+
Yes! California homeowners with conventional loans (Fannie Mae/Freddie Mac) can recast their mortgage. Make a lump-sum principal payment (typically $5,000+ minimum), and your lender re-amortizes the balance at the same rate — lowering your monthly payment with a small fee ($150–$500). Note: FHA, VA, and USDA loans are generally not eligible for recasting in California.
What is PMI and when is it required in California?+
PMI (Private Mortgage Insurance) is required in California when your down payment is under 20%. It typically costs 0.3%–1.5% of the loan per year — on a $600,000 California loan that's roughly $$750 per month. PMI is automatically removed once you reach 20% equity in your California home. Use our PMI Calculator to estimate your exact cost.
30-year vs 15-year mortgage in California — which is better?+
On a $600,000 California loan:
  • 30-Year at 6.8%: ~$3912/month — lower payment, total interest: $808,320
  • 15-Year at 6.0%: ~$5,063/month — higher payment but saves tens of thousands in interest
Choose 30-year if cash flow is important. Choose 15-year if you want to build equity fast and save on interest.
What are current mortgage rates in California for 2026?+
As of 2026, California mortgage rates average:
  • 30-Year Fixed: ~6.5% – 7.0%
  • 15-Year Fixed: ~5.7% – 6.2%
  • FHA 30-Year: ~6.2% – 6.8%
  • VA Loan: ~5.9% – 6.4%
  • Jumbo: ~6.8% – 7.4%
Always compare quotes from multiple California lenders. Even 0.25% difference can save thousands over your loan life.

Related Calculators

🔄
Mortgage Recast
 💰
Mortgage Payoff
 🛡️
PMI Calculator
 📊
Recast Savings