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.
30 year fixedYour input
|15 year fixed||30 year fixed|
|Total interest paid|
30 year fixedYour input
|15 year fixed||30 year fixed|
|Total interest paid|
See how your payments change over time for your 30 year fixed loan term
At year 0
30 year fixed loan term
- Principal Paid
- Interest Paid
We’ll share an interesting insight here for key milestones in your payoff schedule.
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Know how much you qualify for. Based on your inputs, we recommend the following lenders:
California mortgage and refinance rates today (APR)
|30-year fixed-rate FHA||2.312%||2.975%|
|30-year fixed-rate VA||2.721%||2.962%|
Today’s mortgage rates in California are 3.085% for a 30-year fixed, 2.291% for a 15-year fixed, and 3.255% for a 5/1 adjustable-rate mortgage (ARM).
Getting ready to buy a home? We’ll find you a highly rated lender in just a few minutes.
Enter your ZIP code to get started on a personalized lender match.
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
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 3% of the total loan amount in the form of a no-interest second loan. Payments on a CalHFA Zero Interest Program loan are...
California's best mortgage lenders
NerdWallet has done the work for you to pick the best financing partner for you in California.
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.
Avg. property tax rate
Avg. home value
|Contra Costa County||0.85%||$642,300|
|Del Norte County||0.79%||$185,900|
|El Dorado County||0.82%||$472,100|
|Los Angeles County||0.71%||$588,700|
|San Benito County||0.79%||$459,700|
|San Bernardino County||0.87%||$326,600|
|San Diego County||0.75%||$563,800|
|San Francisco County||0.61%||$1,104,100|
|San Joaquin County||0.91%||$349,200|
|San Luis Obispo County||0.69%||$574,400|
|San Mateo County||0.61%||$1,087,100|
|Santa Barbara County||0.59%||$567,600|
|Santa Clara County||0.69%||$971,300|
|Santa Cruz County||0.67%||$775,000|
Source: American Communities Survey 2016, U.S. Census
Under "Home price," enter the price (if you're buying) or the current value (if you're refinancing). NerdWallet also has a .
Under "Down payment," enter the amount of your down payment (if you’re buying) or the amount of equity you have (if refinancing). A is the cash you pay upfront for a home, and is the value of the home, minus what you owe.
On desktop, under "Interest rate" (to the right), enter the rate. Under "Loan term," click the plus and minus signs to adjust the length of the mortgage in years.
On mobile devices, tap "Refine Results" to find the field to enter the rate and use the plus and minus signs to select the "Loan term."
You may enter your own figures for , and , if you don’t wish to use NerdWallet’s estimates. Edit these figures by clicking on the amount currently displayed.
The mortgage calculator lets you click "Compare common loan types" to view a comparison of different loan terms. Click "Amortization" to see how the principal balance, principal paid (equity) and total interest paid change year by year. On mobile devices, scroll down to see "Amortization."
The mortgage payment calculation looks like this: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
The variables are as follows:
Determining what your monthly house payment will be is an important part of figuring out how much house you can afford. That monthly payment is likely to be the biggest part of your cost of living.
Using NerdWallet’s mortgage calculator lets you estimate your mortgage payment when you buy a home or refinance. You can change loan details in the calculator to run scenarios. The calculator can help you decide:
Mortgage lenders are required to assess your ability to repay the amount you want to borrow. A lot of factors go into that assessment, and the main one is debt-to-income ratio.
Your is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support. Lenders look most favorably on debt-to-income ratios of 36% or less — or a maximum of $1,800 a month on an income of $5,000 a month before taxes.
If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But most mortgage payments include other charges as well. Here are the key components of the monthly mortgage payment:
Typically, when you belong to a homeowners association, the dues are billed directly, and it's not added to the monthly mortgage payment. Because HOA dues can be easy to forget, they're included in NerdWallet's mortgage calculator.
The mortgage calculator lets you test scenarios to see how you can reduce the monthly payments:
Your monthly payment can go up over time if:
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