California Mortgage Calculator
Estimate your monthly mortgage payment in California based on the state median home price of $785K, a 0.73% property tax rate, and $2K/year homeowners insurance.
Why This Matters in California
In California, property taxes average 0.73% of assessed value. On the state median home of $785K, that adds $478/month to your mortgage payment — close to the national average. Combined with $183/month for homeowners insurance, your non-mortgage housing costs in California total $661/month before you even account for principal and interest.
California's median home price of $785K places it among the more expensive states. Buyers here benefit from shopping multiple lenders aggressively — even a 0.25% rate difference saves $147/month on the median home.
What to Expect for a Mortgage Payment in California
On the median California home priced at $785K, a buyer putting 10% down at a 6.5% rate would face a principal-and-interest payment of roughly $4,466 per month. Add $478/mo in property taxes and $183/mo for homeowners insurance, and the total PITI comes to approximately $5,126 each month. That median price sits about 124% above the national median of roughly $350K, which directly shapes how much house most California borrowers can realistically target.
Because California is a higher-cost market, many buyers will encounter conforming loan limits more quickly. In counties where the median exceeds the standard conforming cap, jumbo loans become necessary — typically requiring at least 10–20% down, stronger credit scores, and larger cash reserves. A 20% down payment on the $785K median home means bringing $157K to the table, which pushes the monthly P&I down to about $3,969. For many California buyers, saving for that larger down payment is the single biggest hurdle.
Homeowners insurance in California averages around $2K per year, which adds $183 to the monthly PITI. This is manageable relative to many other states. To bring the total payment down further, consider the CalHFA Dream For All program, which offers up to 20% shared appreciation loan for qualifying buyers — reducing the down payment barrier and potentially lowering your loan amount.