Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for California homebuyers.
Pre-filled with California medians. Adjust for your property.
Estimated closing costs based on California tax rates and fees.
The median home price in California is $785,000, with property taxes averaging 0.73% annually. California's property tax rate is roughly in line with the national average.
Closing costs in California average $9K (1.2%% of purchase price). The state charges a 0.11% transfer tax on real estate transactions, which modestly adds to closing costs. Homeowners insurance runs approximately $2,200 per year. This is within the normal range nationally.
California offers the CalHFA Dream For All for first-time buyers: Up to 20% shared appreciation loan. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
California is a higher-cost market. At $785K median, buyers need significant savings or strong income. Down payment assistance and competitive rate-shopping become especially important.