California Mortgage Calculator
Calculate your California mortgage payment with PMI, property tax, and closing costs.
Useful for home buyers in Los Angeles, San Francisco, San Diego, San Jose, Sacramento, and all of California.
Useful for home buyers in Los Angeles, San Francisco, San Diego, San Jose, Sacramento, and all of California.
Last updated: June 2025
Manually verified by: Sarah L. from ManyCalcs team
Data source: Freddie Mac, Bankrate, California Association of Realtors
Why use a California Mortgage Calculator?
California has some of the highest home prices in the US. This calculator estimates your payment, PMI, property tax, and closing costs.
California has some of the highest home prices in the US. This calculator estimates your payment, PMI, property tax, and closing costs.
Result
Enter your details to see the estimated payment here.
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Important Financial Disclaimer
Educational Purpose Only: This mortgage calculator is provided for informational and educational purposes only. The results are estimates based on the information you provide and should not be considered as financial, legal, or investment advice.
Not Financial Advice
- Results are estimates and may not reflect actual loan terms
- Interest rates, fees, and costs vary by lender and borrower
- Does not constitute a loan offer or commitment
- Consult qualified financial professionals before making decisions
Limitations & Accuracy
- Calculations based on standard formulas and may not be precise
- Actual loan terms depend on credit, income, and lender criteria
- Property taxes, insurance, and PMI rates are estimates
- Market conditions and regulations change frequently
Professional Consultation Required: Always consult with licensed mortgage professionals, financial advisors, real estate agents, and legal counsel before making any real estate or financial decisions. Individual circumstances vary significantly and require personalized guidance.
California Property Tax: The average effective property tax rate is about 0.73%. Closing costs in CA are typically 2-5% of the purchase price.
Average Home Prices in Major California Cities (2025)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Los Angeles | $1,100,000 | $900,000 | $800,000 | $700,000 |
| San Francisco | $1,600,000 | $1,200,000 | $1,000,000 | $900,000 |
| San Diego | $950,000 | $800,000 | $700,000 | $650,000 |
| San Jose | $1,400,000 | $1,100,000 | $950,000 | $850,000 |
| Sacramento | $600,000 | $500,000 | $450,000 | $400,000 |
Mobile Note: On small screens, some columns are hidden for better readability.
Prices are approximate averages for 2025 and may vary by neighborhood and property features.
California Mortgage Economic Overview (2025)
Current Mortgage Rates
- 30-Year Fixed: 6.8% - 7.2%
- 15-Year Fixed: 6.3% - 6.7%
- 5/1 ARM: 6.1% - 6.5%
- VA Loans: 6.5% - 6.9%
- FHA Loans: 6.7% - 7.1%
Federal Economic Indicators
- Fed Funds Rate: 5.25% - 5.50%
- 10-Year Treasury: 4.3% - 4.6%
- Inflation (CPI): 3.1%
- Unemployment: 3.9%
- GDP Growth: 2.4%
California Housing Market Trends
Homeownership Rates
- California: 55.2%
- National Average: 65.8%
- First-Time Buyers: 32%
- Cash Purchases: 28%
Market Activity
- Home Sales (YoY): -12.3%
- Days on Market: 34 days
- Inventory: 2.1 months
- Price Growth: +4.2%
Affordability Index
- CA Affordability: 16%
- Income Needed: $223,000
- Median Income: $84,900
- Housing Burden: 32.3%
Regional California Housing Data (2025)
| Metro Area | Home Price | Median Income | Tax Rate | Median Rent | Afford % |
|---|---|---|---|---|---|
| SF Bay Area | $1,480,000 | $126,500 | 0.79% | $3,200 | 11% |
| Los Angeles | $925,000 | $76,400 | 0.72% | $2,650 | 15% |
| San Diego | $885,000 | $79,600 | 0.68% | $2,450 | 17% |
| Sacramento | $565,000 | $72,800 | 0.81% | $1,850 | 26% |
| Riverside | $535,000 | $68,200 | 0.75% | $1,780 | 28% |
| Fresno | $425,000 | $58,900 | 0.73% | $1,320 | 35% |
| Bakersfield | $385,000 | $56,100 | 0.70% | $1,240 | 38% |
Affordability %: Percentage of households that can afford median-priced home with 20% down payment
Sources: CAR Housing Affordability Index, Zillow Research, ATTOM Data
Sources: CAR Housing Affordability Index, Zillow Research, ATTOM Data
Factors Increasing Rates
- Federal Reserve Policy: Continued high federal funds rate to combat inflation
- Bond Market Volatility: 10-year Treasury yields affecting mortgage pricing
- Economic Uncertainty: Geopolitical tensions and market volatility
- Credit Spreads: Lender risk premiums remain elevated
- Housing Demand: Limited inventory keeping prices elevated
Potential Rate Relief Factors
- Inflation Moderation: Fed may pivot if inflation continues declining
- Economic Slowdown: Recessionary pressures could prompt rate cuts
- Increased Inventory: More homes for sale reducing price pressure
- Government Programs: First-time buyer assistance and down payment help
- Lender Competition: More competitive mortgage products and pricing
California Housing Affordability Crisis
Key Challenges:
- Only 16% of households can afford median-priced home
- $223,000 annual income needed for median home purchase
- Median home price 8.7x median household income
- Rental costs consume 32.3% of median income
Contributing Factors:
- Severe housing shortage (3.5 million unit deficit)
- High construction costs and lengthy permitting
- Limited developable land in major metros
- Environmental and zoning restrictions
Impact: Many Californians are relocating to more affordable states, while others are delaying homeownership or accepting longer commutes to find affordable housing.
2025 California Housing Market Outlook
Price Projections
- 2025 Growth: +3% to +5%
- Bay Area: +2% to +4%
- LA Metro: +3% to +5%
- Inland Empire: +4% to +6%
Market Conditions
- Sales Volume: Modest recovery expected
- Inventory: Gradual improvement to 3-4 months
- Construction: 120,000 new units planned
- Migration: Continued outflow to other states
Rate Expectations
- Q2 2025: 6.5% - 7.0%
- Q3 2025: 6.0% - 6.5%
- Q4 2025: 5.5% - 6.0%
- Risk: Economic volatility could delay cuts
Bottom Line: California's housing market remains challenging with high prices and elevated mortgage rates. However, gradual rate declines and increased inventory could provide some relief for buyers later in 2025.
California Economy & Lifestyle Guide
Economic Overview
Major Companies & Employers
Technology (Silicon Valley)
- Apple - Cupertino (180,000+ employees)
- Google/Alphabet - Mountain View (170,000+)
- Meta (Facebook) - Menlo Park (86,000+)
- Tesla - Palo Alto/Fremont (127,000+)
- Netflix - Los Gatos (13,000+)
- Salesforce - San Francisco (79,000+)
- Intel - Santa Clara (131,000+)
- Adobe - San Jose (29,000+)
Entertainment & Media
- Disney - Burbank (220,000+ global)
- Warner Bros - Burbank (8,000+)
- Universal Studios - Universal City
- Paramount - Hollywood
- Sony Pictures - Culver City
Key Industries
- Technology: $1.3T annual revenue, 40% of US tech jobs
- Entertainment: $200B+ industry, global film/TV hub
- Agriculture: $59B annually, #1 US agricultural state
- Aerospace: SpaceX, Boeing, Lockheed Martin
- Biotechnology: Genentech, Amgen, Gilead
- Tourism: $150B+ annually, 1.2B visitor days
- Energy: Renewable energy leader, Chevron HQ
- Finance: Wells Fargo, Charles Schwab
Economic Fact: California's economy ranks 5th globally if it were a country, with $3.6T GDP.
Top Attractions & Destinations
Theme Parks & Entertainment
- Disneyland Resort - Anaheim
- Universal Studios - Hollywood
- Knott's Berry Farm - Buena Park
- Six Flags Magic Mountain - Valencia
Natural Wonders
- Yosemite National Park - Central CA
- Lake Tahoe - Northern CA/Nevada
- Big Sur - Central Coast
- Redwood National Park - Northern CA
- Death Valley - Eastern CA
Beaches & Coast
- Malibu - Luxury beach living
- Santa Monica - Pier & boardwalk
- Monterey Bay - Aquarium & wine country
- Half Moon Bay - Pumpkin capital
Airbnb & Short-Term Rental Prices (2025)
| Area | Avg/Night | Monthly Est. |
|---|---|---|
| San Francisco | $185 | $4,600 |
| Los Angeles | $165 | $4,100 |
| San Diego | $155 | $3,850 |
| Napa Valley | $220 | $5,500 |
| Lake Tahoe | $195 | $4,875 |
| Big Sur | $275 | $6,875 |
| Sacramento | $125 | $3,125 |
| Fresno | $95 | $2,375 |
Monthly estimates based on 25-day occupancy
Why Singles Choose California
Career Opportunities
- Highest tech salaries in US (avg $165K+)
- Startup ecosystem & venture capital access
- Entertainment industry networking
- Innovation & entrepreneurship culture
Lifestyle & Social
- Vibrant nightlife (SF, LA, SD)
- Dating scene & young professional networks
- Year-round outdoor activities
- Cultural diversity & food scene
- Progressive values & social acceptance
Challenges
- High cost of living & housing
- Traffic congestion & long commutes
- Income taxes up to 13.3%
- Competitive rental market
Why Families Choose California
Education & Opportunities
- Top universities (Stanford, UC system, Caltech)
- Excellent public schools in many districts
- STEM education & tech exposure for kids
- Cultural & educational attractions
Family Lifestyle
- Year-round outdoor family activities
- Beach access & mountain recreation
- Theme parks & family entertainment
- Diverse communities & cultural exposure
- Healthy living culture & organic food
Family Challenges
- Housing costs strain family budgets
- School district competition
- Long commutes reduce family time
- High childcare costs ($1,500-3,000/month)
California Advantages: World-class career opportunities, diverse culture, year-round weather, innovation ecosystem, top universities
Key Considerations: High housing costs, traffic congestion, state taxes, competitive markets, wildfire/earthquake risks
How Mortgage Rules Work in California
- Property Tax: California's average effective property tax rate is about 0.73%. Property taxes are paid annually and may be included in your monthly payment.
- PMI (Private Mortgage Insurance): If your down payment is less than 20%, you must pay PMI, which is added to your monthly payment until you reach 20% equity.
- Closing Costs: California's closing costs include title insurance, escrow fees, and other expenses.
Example: On a $900,000 home with 10% down in Los Angeles, you pay PMI and property tax. Closing costs are typically 2-5% of the purchase price.
California Mortgage FAQ
Common questions and detailed answers for California home buyers covering first-time buyer assistance, financing, and affordability.
California offers extensive first-time buyer programs:
Statewide Programs
- CalHFA MyHome Assistance: Up to 3.5% or $10,000 down payment help
- CA Dream for All: Shared appreciation second loans
- Extra Credit Teacher Program: Special rates for educators
- CalPLUS Conventional: Higher debt-to-income ratios allowed
Federal Programs
- FHA Loans: 3.5% down payment, flexible credit
- VA Loans: 0% down for eligible veterans
- USDA Loans: 0% down in rural areas
- Conventional 3% Down: Fannie Mae/Freddie Mac programs
Typical Requirements: First-time buyer status (or haven't owned in 3+ years), income limits (80-120% of Area Median Income), completion of homebuyer education course, minimum credit score 640+.
Down payment requirements vary by loan type and lender:
| Loan Type | Min Down | Typical Range | Notes |
|---|---|---|---|
| Conventional | 3% | 5% - 20% | PMI if <20% |
| FHA | 3.5% | 3.5% - 10% | MIP required |
| VA | 0% | 0% - 10% | Veterans only |
| USDA | 0% | 0% - 5% | Rural areas |
| Jumbo | 10% | 10% - 20% | >$766,550 |
California Averages (2025)
- First-time buyers: 8.2% average
- Repeat buyers: 16.8% average
- All buyers: 14.3% average
- Cash purchases: 28% of all sales
Strategy: Higher down payments reduce monthly costs but require more upfront cash. Consider your emergency fund and other financial goals.
California closing costs typically range from 2-5% of home price (average 3.5%):
Major Cost Components
- Title Insurance: $1,200 - $3,000
- Escrow Fees: $1,500 - $3,500
- Loan Origination: 0.5% - 1% of loan amount
- Appraisal: $500 - $800
- Home Inspection: $400 - $800
- Credit Report: $50 - $100
- Recording Fees: $100 - $300
Prepaid Items
- Property Tax (prorated): Varies by purchase date
- Homeowner's Insurance: $1,200 - $3,000
- Prepaid Interest: Based on closing date
- HOA Fees (if applicable): Prorated amount
Example: On a $900,000 home, expect $27,000 - $45,000 in closing costs (avg $31,500).
California-Specific Considerations
- Transfer Tax: Varies by county (LA County: $1.10 per $1,000)
- Natural Hazard Disclosure: Required for earthquake/flood zones
- Supplemental Property Tax: May apply for new purchases
- HOA Transfer Fees: Common in California communities
California property taxes are based on assessed value with unique rules:
Key Facts
- Average Rate: 0.73% statewide
- Proposition 13: Limits annual increases to 2%
- Assessment: Based on purchase price
- Payment: Due in 2 installments (Dec/April)
- Portability: May transfer assessment to new home
Regional Variations
- San Francisco Bay Area: 0.79%
- Los Angeles County: 0.72%
- San Diego County: 0.68%
- Sacramento County: 0.81%
- Riverside County: 0.75%
Proposition 13 Benefits
California's Proposition 13 (1978) provides significant property tax protection:
- Assessment limited to 1% of assessed value plus voter-approved bonds
- Annual increases capped at 2% or inflation (whichever is lower)
- Reassessment only occurs upon sale or major improvements
- Proposition 19 (2020) allows some assessment transfers between properties
Example Calculation
$900,000 home in Los Angeles:
- Tax Rate: 0.72%
- Annual Tax: $6,480
- Monthly (escrow): $540
Tip: New construction may have supplemental taxes in the first year as assessments catch up to current value.
California affordability requires careful planning given high home prices:
Affordability Guidelines
- 28% Rule: Housing ≤ 28% of gross monthly income
- 36% Rule: Total debt ≤ 36% of gross income
- California Reality: Many pay 40-50% due to high costs
- Debt-to-Income: Most lenders allow up to 43-50%
Income Requirements by Area
- San Francisco Bay: $245,000+
- Los Angeles: $154,000+
- San Diego: $147,000+
- Sacramento: $94,000+
- Inland Empire: $89,000+
Affordability Strategies
- Increase Income: Side businesses, career advancement
- Reduce Debt: Pay off credit cards, student loans
- Save More: Larger down payment reduces monthly costs
- Consider Location: Inland areas more affordable
- Use Assistance: Down payment help programs
- Co-buying: Purchase with family/friends
Reality Check: Only 16% of CA households can afford median-priced homes vs. 65.8% nationally.
Alternative Homeownership Options
- Condos/Townhomes: Lower entry prices
- Fixer-uppers: Build equity through improvements
- Shared Equity: Programs like CA Dream for All
- House Hacking: Rent out rooms/units
- Relocate: Consider more affordable CA regions
- Wait & Save: Build larger down payment
Quick Affordability Check
Rule of thumb for CA:
- Home price ≤ 4-5x annual income
- Monthly payment ≤ 40% gross income
- Emergency fund: 3-6 months expenses
- Down payment + closing costs saved
Success Strategy: Start with a realistic budget, explore all financing options, and consider building wealth over time through homeownership.
Affordability Resources:
CAR Affordability Index,
CFPB Affordability Guide,
Freddie Mac Research,
NAR Affordability Data
California Mortgage Education Guide
Essential mortgage information for California home buyers, including loan types, down payment requirements, closing costs, and PMI guidelines.
Mortgage Types Available in California
Conventional Loans
- 30-Year Fixed: Most popular, stable payments
- 15-Year Fixed: Higher payments, lower total interest
- Adjustable Rate (ARM): Lower initial rates, risk of increases
- Jumbo Loans: For homes above $766,550 (2024 limit)
Government-Backed Loans
- FHA Loans: 3.5% down, flexible credit requirements
- VA Loans: 0% down for eligible veterans
- USDA Loans: 0% down in eligible rural areas
California-Specific Programs
- CalHFA First-Time Buyer: Down payment assistance
- CA Dream for All: Shared appreciation loans
- MyHome Assistance: Up to 3.5% down payment help
- CalPLUS Conventional: Higher debt-to-income ratios
Interest Rate Types
- Fixed Rate: Same rate for entire loan term
- ARM (5/1, 7/1, 10/1): Fixed period then adjustable
- Interest-Only: Pay only interest initially
Down Payment Averages in California
By Loan Type
- Conventional Loans: 5% - 20%
- FHA Loans: 3.5% minimum
- VA Loans: 0% down
- USDA Loans: 0% down
- Jumbo Loans: 10% - 20%
California Averages (2025)
- First-Time Buyers: 8.2%
- Repeat Buyers: 16.8%
- All Buyers: 14.3%
- Cash Purchases: 28% of sales
Tip: Higher down payments reduce PMI costs and monthly payments but require more upfront cash.
Data Sources:
NAR Home Buyers Report,
CAR Market Data
California Closing Costs
Typical Cost Range
- Total Closing Costs: 2% - 5% of home price
- California Average: 3.5% of purchase price
- Example ($900K home): $31,500
Major Components
- Title Insurance: $1,200 - $3,000
- Escrow Fees: $1,500 - $3,500
- Home Inspection: $400 - $800
- Appraisal: $500 - $800
- Loan Origination: 0.5% - 1% of loan
- Property Tax (prorated): Varies
- Homeowner's Insurance: $1,200 - $3,000
Reference:
CFPB Closing Costs Guide,
CAR Closing Cost Data
Private Mortgage Insurance (PMI) Rules in California
When PMI is Required
- Down Payment: Less than 20%
- Loan-to-Value: Above 80%
- Loan Types: Conventional loans only
- FHA Alternative: Mortgage Insurance Premium (MIP)
Note: VA loans don't require PMI but have a funding fee.
PMI Cost Ranges
- 5% - 9.99% Down: 0.85% - 1.20% annually
- 10% - 14.99% Down: 0.50% - 0.95% annually
- 15% - 19.99% Down: 0.30% - 0.75% annually
- Credit Score Impact: Lower scores = higher PMI
Example: $700K loan, 10% down = $292-$554/month PMI
PMI Removal Rules
- Automatic Removal: At 78% LTV
- Request Removal: At 80% LTV
- Requirements: Good payment history
- Appraisal: May be required for removal
- Recast Option: Large payment to reduce LTV
Tip: Track your home value increases to accelerate PMI removal.
PMI vs. MIP Comparison
| Feature | Conventional PMI | FHA MIP |
|---|---|---|
| Min Down | 3% - 5% | 3.5% |
| Removal | At 78-80% LTV | 11 years min |
| Cost | 0.3%-1.2%/yr | 0.85%/yr + upfront |
| Credit Req | Higher scores | More flexible |
California Down Payment Assistance Programs
Statewide Programs
- CalHFA MyHome Assistance: Up to 3.5% or $10,000
- CA Dream for All: Shared appreciation second loan
- CalPLUS Conventional: Higher DTI ratios allowed
- Extra Credit Teacher Program: For educators
Local Programs
- Los Angeles: LAHD First-Time Buyer Program
- San Francisco: Below Market Rate (BMR) Program
- San Diego: First-Time Homebuyer Program
- Sacramento: SHRA Home Choice Program
Eligibility Requirements (Typical)
- First-time home buyer (or haven't owned in 3+ years)
- Income limits (usually 80-120% of Area Median Income)
- Completion of homebuyer education course
- Primary residence requirement
- Minimum credit score (typically 640+)
California Mortgage Application Timeline
Pre-Approval (1-3 days)
- Submit application
- Provide income docs
- Credit check
- Get pre-approval letter
Home Shopping (30-60 days)
- Search for homes
- Make offers
- Negotiate terms
- Sign purchase contract
Processing (30-45 days)
- Submit full application
- Order appraisal
- Home inspection
- Underwriting review
Closing (3-5 days)
- Final walkthrough
- Review closing docs
- Wire closing funds
- Get keys!
California Specific: Due to high home prices and competition, California buyers often need to act quickly. Having pre-approval and funds ready is crucial in competitive markets like SF Bay Area and LA.
Process Guide:
CFPB Home Buying Guide,
CAR Home Buying Tips