California mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, includi...ng your principal and interest, taxes, insurance, and PMI in California. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

California housing market

In California, The Golden State, housing affordability is deemed a "crisis" by many.... On average, Californians spend the largest percentage (25%) of their incomes on housing of any state in the U.S. When looking at housing trends in California, it's important to keep in mind that local housing trends may be different than overall statewide trends because the state is so large (if California were a country, it would have the 5th largest economy in the world!). California overall and its largest metro areas (Los Angeles and the San Francisco Bay Area) have seen a continued rise in housing prices in recent years.

Your monthly payment
$1,599
30 year fixed loan term
Monthly payment
Principal & interest

$1,163

Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types

Total principal: $240,000

Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,161$1,586
Mortgage Rate4.125%3.58%*4.03%*
Total interest paid
$178,737
$70,529
$173,983
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,161$1,586
Mortgage Rate4.125%3.58%*4.03%*
Total interest paid
$178,737
$70,529
$173,983
Amortization

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Remaining
$240,000
Principal Paid
$0
Interest Paid
$0
Year 0
drag me
1
30
Years

Insights

We’ll share an interesting insight here for key milestones in your payoff schedule.

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See latest mortgage rates
Get personalized mortgage rates from San Francisco, CA.
Principal & interest

$1,163

California mortgage and refinance rates today (APR)

Loan typeAverage
rate
Change
1 day
Change
1 year
30-year fixed3.768%
0.036%
1.022%
15-year fixed3.222%
0.031%
1.048%
5/1 ARM3.721%
0.006%
1.349%

Today’s rate

3.768%
30-year fixed

Current rates in California are 3.768% for a 30-year fixed, 3.222% for a 15-year fixed, and 3.721% for a 5/1 adjustable-rate mortgage (ARM).

Find top real estate agents in California

Start building your winning home buying team! Our partner, HomeLight, analyzes millions of home sales to identify the best performing agent.

California's first-time home buyer programs

The California Housing Finance Agency, or CalHFA, offers several loan programs to help qualified first-time home buyers get a mortgage.

CalHFA Zero Interest Program

State program

Best for

Closing cost assistance

What you need to know

This program can make CalPLUS Conventional and CalPLUS FHA loans even more affordable by paying a portion of your closing costs. The CalHFA Zero Interest Program provides up to 4% of the total loan amount in the form of a no-interest second loan. Payments on a CalHFA Zero Interest Program loan are...

See full article

California's best mortgage lenders

NerdWallet has done the work for you to pick the best financing partner for you in California.

See full article

Average property tax in California counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in California. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

CountyAvg. property tax rateAvg. home value
Alameda County0.81%$781,000
Alpine County0.82%$343,800
Amador County0.77%$278,600
Butte County0.78%$268,900
Calaveras County0.86%$273,400
Colusa County0.63%$223,600
Contra Costa County0.85%$642,300
Del Norte County0.79%$185,900
El Dorado County0.82%$472,100
Fresno County0.87%$248,700
Glenn County0.73%$214,600
Humboldt County0.65%$325,200
Imperial County0.97%$200,700
Inyo County0.7%$243,100
Kern County1.03%$205,700
Kings County0.88%$224,500
Lake County0.82%$210,500
Lassen County0.71%$177,500
Los Angeles County0.71%$588,700
Madera County0.76%$240,800
Marin County0.73%$1,014,000
Mariposa County0.64%$259,500
Mendocino County0.66%$409,900
Merced County0.77%$253,700
Modoc County0.67%$143,100
Mono County0.73%$311,700
Monterey County0.66%$517,200
Napa County0.63%$628,500
Nevada County0.79%$437,200
Orange County0.7%$679,400
Placer County0.92%$468,400
Plumas County0.74%$228,900
Riverside County1.02%$352,700
Sacramento County0.86%$353,400
San Benito County0.79%$459,700
San Bernardino County0.87%$326,600
San Diego County0.75%$563,800
San Francisco County0.61%$1,104,100
San Joaquin County0.91%$349,200
San Luis Obispo County0.69%$574,400
San Mateo County0.61%$1,087,100
Santa Barbara County0.59%$567,600
Santa Clara County0.69%$971,300
Santa Cruz County0.67%$775,000
Shasta County0.76%$248,900
Sierra County0.59%$157,100
Siskiyou County0.77%$176,600
Solano County0.84%$411,700
Sonoma County0.68%$628,400
Stanislaus County0.81%$288,200
Sutter County0.86%$278,300
Tehama County0.7%$191,400
Trinity County0.58%$286,500
Tulare County0.81%$204,300
Tuolumne County0.74%$273,500
Ventura County0.74%$592,500
Yolo County0.84%$430,400
Yuba County0.94%$253,000

Source: American Communities Survey 2016, U.S. Census

What’s included in a mortgage loan calculator?

A mortgage calculator used to look kind of like your grandfather’s cell phone. A bunch of buttons, a little screen and a lot of punching in numbers to get a result. The NerdWallet home mortgage calculator is different. It can calculate your monthly mortgage payment in no time.

Any good home mortgage calculator can do that. Even that big calculator stuffed in your grandpa’s shirt pocket. But an excellent mortgage payment calculator can do more. That’s why the NerdWallet monthly mortgage payment calculator also takes into account the additional costs — like taxes and insurance — that are included in your monthly payment. It’s called a PITI mortgage calculator, for principal, interest, taxes and insurance. We can also include HOA dues and PMI — private mortgage insurance — in your monthly payment calculation.

A lot of folks forget to include all those costs and are frankly a bit surprised when their monthly mortgage payment turns out to be a lot more than they counted on. The formula working behind the curtain of the NerdWallet mortgage calculator takes that bit of uncertainty out of the picture.

How to calculate your mortgage payment

For the paper and pencil mathletes out there, the mortgage payment calculation looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal amount
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.
  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

How to use a mortgage payment calculator

Determining what your monthly house payment will be is an important part of the “how much house can I afford?” decision. That monthly payment is likely to be the biggest part of your living overhead.

Using this tool to calculate your mortgage payment can help you run various scenarios in your decision process for buying a home. You may consider:

  • How long of a home loan term is right for you? A 30-year fixed-rate mortgage will lower your monthly payment, but you’ll pay more interest over the life of the loan. A 15-year fixed-rate mortgage can reduce the total interest you’ll pay, but your monthly payment will be higher. Regardless of which term you choose, fixed-rate mortgages have interest rates that are locked in for the life of the loan.
  • Is an ARM a good option? Adjustable-rate mortgages start with a “teaser” interest rate, and then the loan rate changes — higher or lower — over time. A 5/1 ARM can be a good choice, particularly if you plan on being in a home for just a few years or so. You’ll want to be aware of how much your monthly mortgage payment can change, especially if interest rates are trending higher.
  • If you’re buying too much home. The NerdWallet mortgage payment calculator can help you take a reality check on just how much home you can afford, especially when considering your all-in costs, including taxes, insurance and PMI.
  • Are you putting enough money down? With minimum down payments commonly as low as 3% these days, it’s easier than ever to put just a little money down. The mortgage payment calculator can help you decide what the best down payment for you may be.

What are the monthly costs built into a monthly mortgage payment?

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But that’s rarely the case these days. There are a lot of costs that can be built into a monthly mortgage payment. Here are the five key components in play when you calculate mortgage payments:

  • Principal: Typically, this would be the home’s purchase price, less any down payment It’s the amount you borrow. If you’re buying a $500,000 home and put down $100,000, the principal would be $400,000.
  • Interest: What the lender charges you to loan you the money. Interest rates are expressed as an annual percentage.
  • Property taxes: The annual tax assessed by a government authority on your home and land.
  • Mortgage insurance: If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender’s interest in case a borrower defaults on a mortgage. Once the equity in your property increases to 20%, the mortgage insurance is canceled, unless you have an FHA loan.
  • Homeowners association (HOA) fee: This is paid by homeowners to an organization that assists with upkeep, property improvements and shared amenities.

Can I lower my monthly payment?

This is where a mortgage calculator can really bring some clarity to the home buying process: by helping you to work different payment scenarios.

Here are ways you can lower your monthly payment:

  • Extend the number of years for the loan. It’s called the loan term, something we mentioned above. As we said, your payment will be lower but you’ll be paying a lot more interest over the added years. Review your amortization schedule to see the impact of extending your loan.
  • Buy less house. Obviously, taking out a smaller loan means a smaller monthly mortgage payment.
  • Avoid paying PMI. By putting down 20% or more, you won’t have to pay private mortgage insurance. That can be another option to consider as you run “what ifs” in the mortgage calculator tool. However, if you’re looking at FHA loans, mortgage insurance can last for the entire length of the loan.
  • Get a better interest rate. Putting more money down not only can eliminate PMI, but lower your interest rate, too. That means a lower monthly mortgage payment. Shopping at least three lenders can also increase your odds of getting a better mortgage interest rate.

Can my monthly payment go up?

Now, you’ve calculated your monthly mortgage payment and you’ve got a number you’re happy with. What could make your payment go up from there:

  1. If you have an adjustable-rate mortgage, as we mentioned above.
  2. If costs included in your mortgage payment, such as property taxes or homeowners insurance premiums, go up. And they will, eventually.
  3. If your mortgage loan servicer charges a late payment fee.