Mortgage for California (2026)
California (CA) Key Facts
Median Home Price
$750,000
Average Property Tax Rate
0.74%
Average Home Insurance Rate
0.5%
Estimated Monthly Payment
$5,153
First Time Buyer Programs
3
How This Calculator Works in California
This mortgage calculator lets you estimate your monthly payment on a California home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with California's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
California Overview
California has a median home price of approximately $800K, with an average property tax rate of 0.74% and homeowners insurance averaging 0.5% annually. Prop 13 caps tax increases at 2%/yr. CalHFA MyHome and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How California Compares
Compared to neighboring states, California's median home price of $750,000 is above the national median of about $420,000. Nearby Oregon has a median price of $480,000 with a 0.97% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Oregon | $480,000 | Median home price is $480,000 with a 0.97% property tax rate. Estimated monthly mortgage payment is about $3,310. |
| Nevada | $420,000 | Median home price is $420,000 with a 0.6% property tax rate. Estimated monthly mortgage payment is about $2,837. |
| Arizona | $400,000 | Median home price is $400,000 with a 0.62% property tax rate. Estimated monthly mortgage payment is about $2,725. |
The median home price in California is $750,000, compared to the national median of approximately $420,000. With a 0.74% average property tax rate and 0.5% insurance rate, California homeowners can expect an estimated monthly payment of about $5,153 on a median-priced home with 10% down at 6.75% interest.
Tips for California Residents
- 1California has a median home price around $800K. Prop 13 caps tax increases at 2%/yr. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in California average 0.74%. As a community property state, both spouses are equally responsible for mortgage debt. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore CalHFA MyHome & Dream For All for potential down payment assistance and favorable rates. California also offers CalHFA Zero Interest Program (ZIP). Check income limits and eligibility early in your home search.
- 4Community property state; budget for earthquake insurance. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5Jumbo loans common above $766K conforming limit. A 0.25% rate difference on a $750K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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