California Mortgage Calculator
Mortgage is next to the only affordable option for low to average income home buyers in many parts of California and the rest of the United States. On this page we offer a convenient California home loan calculator to gauge your potential expenses, and up-to-date answers to several frequently asked questions concerning buying a house in California.
Total principal & interest | $485 050 |
Monthly payment | $4 042.08 |
Total interest paid | $125 050 |
Payoff date | April 2035 |
Detailed payment info
Date | Payment | Principal Paid | Interest Paid | Remaining Balance |
---|---|---|---|---|
May 2025 | 4 042.08 | 2 167.08 | 1 875 | 357 832.92 |
June 2025 | 4 042.08 | 2 178.37 | 1 863.71 | 355 654.55 |
July 2025 | 4 042.08 | 2 189.72 | 1 852.37 | 353 464.83 |
August 2025 | 4 042.08 | 2 201.12 | 1 840.96 | 351 263.71 |
September 2025 | 4 042.08 | 2 212.59 | 1 829.50 | 349 051.12 |
October 2025 | 4 042.08 | 2 224.11 | 1 817.97 | 346 827.02 |
November 2025 | 4 042.08 | 2 235.69 | 1 806.39 | 344 591.32 |
December 2025 | 4 042.08 | 2 247.34 | 1 794.75 | 342 343.99 |
January 2026 | 4 042.08 | 2 259.04 | 1 783.04 | 340 084.94 |
February 2026 | 4 042.08 | 2 270.81 | 1 771.28 | 337 814.14 |
March 2026 | 4 042.08 | 2 282.63 | 1 759.45 | 335 531.50 |
April 2026 | 4 042.08 | 2 294.52 | 1 747.56 | 333 236.98 |
May 2026 | 4 042.08 | 2 306.47 | 1 735.61 | 330 930.50 |
June 2026 | 4 042.08 | 2 318.49 | 1 723.60 | 328 612.02 |
July 2026 | 4 042.08 | 2 330.56 | 1 711.52 | 326 281.45 |
August 2026 | 4 042.08 | 2 342.70 | 1 699.38 | 323 938.75 |
September 2026 | 4 042.08 | 2 354.90 | 1 687.18 | 321 583.85 |
October 2026 | 4 042.08 | 2 367.17 | 1 674.92 | 319 216.68 |
November 2026 | 4 042.08 | 2 379.50 | 1 662.59 | 316 837.19 |
December 2026 | 4 042.08 | 2 391.89 | 1 650.19 | 314 445.30 |
January 2027 | 4 042.08 | 2 404.35 | 1 637.74 | 312 040.95 |
February 2027 | 4 042.08 | 2 416.87 | 1 625.21 | 309 624.08 |
March 2027 | 4 042.08 | 2 429.46 | 1 612.63 | 307 194.62 |
April 2027 | 4 042.08 | 2 442.11 | 1 599.97 | 304 752.51 |
May 2027 | 4 042.08 | 2 454.83 | 1 587.25 | 302 297.68 |
June 2027 | 4 042.08 | 2 467.62 | 1 574.47 | 299 830.06 |
July 2027 | 4 042.08 | 2 480.47 | 1 561.61 | 297 349.59 |
August 2027 | 4 042.08 | 2 493.39 | 1 548.70 | 294 856.21 |
September 2027 | 4 042.08 | 2 506.37 | 1 535.71 | 292 349.83 |
October 2027 | 4 042.08 | 2 519.43 | 1 522.66 | 289 830.40 |
November 2027 | 4 042.08 | 2 532.55 | 1 509.53 | 287 297.85 |
December 2027 | 4 042.08 | 2 545.74 | 1 496.34 | 284 752.11 |
January 2028 | 4 042.08 | 2 559 | 1 483.08 | 282 193.11 |
February 2028 | 4 042.08 | 2 572.33 | 1 469.76 | 279 620.79 |
March 2028 | 4 042.08 | 2 585.73 | 1 456.36 | 277 035.06 |
April 2028 | 4 042.08 | 2 599.19 | 1 442.89 | 274 435.87 |
May 2028 | 4 042.08 | 2 612.73 | 1 429.35 | 271 823.14 |
June 2028 | 4 042.08 | 2 626.34 | 1 415.75 | 269 196.80 |
July 2028 | 4 042.08 | 2 640.02 | 1 402.07 | 266 556.78 |
August 2028 | 4 042.08 | 2 653.77 | 1 388.32 | 263 903.02 |
September 2028 | 4 042.08 | 2 667.59 | 1 374.49 | 261 235.43 |
October 2028 | 4 042.08 | 2 681.48 | 1 360.60 | 258 553.94 |
November 2028 | 4 042.08 | 2 695.45 | 1 346.64 | 255 858.50 |
December 2028 | 4 042.08 | 2 709.49 | 1 332.60 | 253 149.01 |
January 2029 | 4 042.08 | 2 723.60 | 1 318.48 | 250 425.41 |
February 2029 | 4 042.08 | 2 737.78 | 1 304.30 | 247 687.63 |
March 2029 | 4 042.08 | 2 752.04 | 1 290.04 | 244 935.58 |
April 2029 | 4 042.08 | 2 766.38 | 1 275.71 | 242 169.20 |
May 2029 | 4 042.08 | 2 780.79 | 1 261.30 | 239 388.42 |
June 2029 | 4 042.08 | 2 795.27 | 1 246.81 | 236 593.15 |
July 2029 | 4 042.08 | 2 809.83 | 1 232.26 | 233 783.32 |
August 2029 | 4 042.08 | 2 824.46 | 1 217.62 | 230 958.86 |
September 2029 | 4 042.08 | 2 839.17 | 1 202.91 | 228 119.69 |
October 2029 | 4 042.08 | 2 853.96 | 1 188.12 | 225 265.73 |
November 2029 | 4 042.08 | 2 868.82 | 1 173.26 | 222 396.90 |
December 2029 | 4 042.08 | 2 883.77 | 1 158.32 | 219 513.14 |
January 2030 | 4 042.08 | 2 898.79 | 1 143.30 | 216 614.35 |
February 2030 | 4 042.08 | 2 913.88 | 1 128.20 | 213 700.47 |
March 2030 | 4 042.08 | 2 929.06 | 1 113.02 | 210 771.41 |
April 2030 | 4 042.08 | 2 944.32 | 1 097.77 | 207 827.09 |
May 2030 | 4 042.08 | 2 959.65 | 1 082.43 | 204 867.44 |
June 2030 | 4 042.08 | 2 975.07 | 1 067.02 | 201 892.38 |
July 2030 | 4 042.08 | 2 990.56 | 1 051.52 | 198 901.81 |
August 2030 | 4 042.08 | 3 006.14 | 1 035.95 | 195 895.68 |
September 2030 | 4 042.08 | 3 021.79 | 1 020.29 | 192 873.88 |
October 2030 | 4 042.08 | 3 037.53 | 1 004.55 | 189 836.35 |
November 2030 | 4 042.08 | 3 053.35 | 988.73 | 186 783 |
December 2030 | 4 042.08 | 3 069.26 | 972.83 | 183 713.74 |
January 2031 | 4 042.08 | 3 085.24 | 956.84 | 180 628.50 |
February 2031 | 4 042.08 | 3 101.31 | 940.77 | 177 527.19 |
March 2031 | 4 042.08 | 3 117.46 | 924.62 | 174 409.73 |
April 2031 | 4 042.08 | 3 133.70 | 908.38 | 171 276.03 |
May 2031 | 4 042.08 | 3 150.02 | 892.06 | 168 126.01 |
June 2031 | 4 042.08 | 3 166.43 | 875.66 | 164 959.58 |
July 2031 | 4 042.08 | 3 182.92 | 859.16 | 161 776.66 |
August 2031 | 4 042.08 | 3 199.50 | 842.59 | 158 577.17 |
September 2031 | 4 042.08 | 3 216.16 | 825.92 | 155 361.01 |
October 2031 | 4 042.08 | 3 232.91 | 809.17 | 152 128.10 |
November 2031 | 4 042.08 | 3 249.75 | 792.33 | 148 878.35 |
December 2031 | 4 042.08 | 3 266.68 | 775.41 | 145 611.67 |
January 2032 | 4 042.08 | 3 283.69 | 758.39 | 142 327.98 |
February 2032 | 4 042.08 | 3 300.79 | 741.29 | 139 027.19 |
March 2032 | 4 042.08 | 3 317.98 | 724.10 | 135 709.21 |
April 2032 | 4 042.08 | 3 335.26 | 706.82 | 132 373.94 |
May 2032 | 4 042.08 | 3 352.64 | 689.45 | 129 021.30 |
June 2032 | 4 042.08 | 3 370.10 | 671.99 | 125 651.21 |
July 2032 | 4 042.08 | 3 387.65 | 654.43 | 122 263.56 |
August 2032 | 4 042.08 | 3 405.29 | 636.79 | 118 858.26 |
September 2032 | 4 042.08 | 3 423.03 | 619.05 | 115 435.23 |
October 2032 | 4 042.08 | 3 440.86 | 601.23 | 111 994.37 |
November 2032 | 4 042.08 | 3 458.78 | 583.30 | 108 535.60 |
December 2032 | 4 042.08 | 3 476.79 | 565.29 | 105 058.80 |
January 2033 | 4 042.08 | 3 494.90 | 547.18 | 101 563.90 |
February 2033 | 4 042.08 | 3 513.10 | 528.98 | 98 050.79 |
March 2033 | 4 042.08 | 3 531.40 | 510.68 | 94 519.39 |
April 2033 | 4 042.08 | 3 549.79 | 492.29 | 90 969.60 |
May 2033 | 4 042.08 | 3 568.28 | 473.80 | 87 401.31 |
June 2033 | 4 042.08 | 3 586.87 | 455.22 | 83 814.45 |
July 2033 | 4 042.08 | 3 605.55 | 436.53 | 80 208.90 |
August 2033 | 4 042.08 | 3 624.33 | 417.75 | 76 584.57 |
September 2033 | 4 042.08 | 3 643.21 | 398.88 | 72 941.36 |
October 2033 | 4 042.08 | 3 662.18 | 379.90 | 69 279.18 |
November 2033 | 4 042.08 | 3 681.25 | 360.83 | 65 597.93 |
December 2033 | 4 042.08 | 3 700.43 | 341.66 | 61 897.50 |
January 2034 | 4 042.08 | 3 719.70 | 322.38 | 58 177.80 |
February 2034 | 4 042.08 | 3 739.07 | 303.01 | 54 438.72 |
March 2034 | 4 042.08 | 3 758.55 | 283.54 | 50 680.18 |
April 2034 | 4 042.08 | 3 778.12 | 263.96 | 46 902.05 |
May 2034 | 4 042.08 | 3 797.80 | 244.28 | 43 104.25 |
June 2034 | 4 042.08 | 3 817.58 | 224.50 | 39 286.67 |
July 2034 | 4 042.08 | 3 837.47 | 204.62 | 35 449.20 |
August 2034 | 4 042.08 | 3 857.45 | 184.63 | 31 591.75 |
September 2034 | 4 042.08 | 3 877.54 | 164.54 | 27 714.21 |
October 2034 | 4 042.08 | 3 897.74 | 144.34 | 23 816.47 |
November 2034 | 4 042.08 | 3 918.04 | 124.04 | 19 898.43 |
December 2034 | 4 042.08 | 3 938.45 | 103.64 | 15 959.98 |
January 2035 | 4 042.08 | 3 958.96 | 83.12 | 12 001.02 |
February 2035 | 4 042.08 | 3 979.58 | 62.51 | 8 021.45 |
March 2035 | 4 042.08 | 4 000.31 | 41.78 | 4 021.14 |
April 2035 | 4 042.08 | 4 021.14 | 20.94 | 0 |
See mortgage calculators in another states
California Mortgage Calculator
Purchasing a home in California can be a significant milestone, especially for low to average-income individuals. With the soaring housing prices in various parts of California and the United States, a mortgage becomes a vital financial tool for many prospective home buyers. To help you navigate through the complex process, we provide an innovative California Mortgage Calculator, designed to assess your potential expenses accurately. Our calculator empowers you to make informed decisions by calculating mortgage payments, interest rates, and loan terms specific to the California housing market. In addition, we address commonly asked questions related to buying a house in California, keeping you up-to-date with the latest information
Best mortgage lenders in California
The highly sought-after mortgage providers in California function across the entire country. These encompass well-known brands like Rocket Mortgage, Homenda Mortgage, First Citizens Bank, and AmeriSave. Additionally, several reliable alternatives may not be as widely recognized, such as OneTrust Home Loans, Bay Equity LLC.
How to calculate mortgage payment in California
Utilize our rapid and uncomplicated CA mortgage calculator to assess your prospective monthly costs. A comprehensive guide with clear instructions can be found below.
Why and How to Use Our Mortgage Calculator
Utilize our California Mortgage Calculator to plan your forthcoming expenditures. Let’s take a closer look at each field in order to gain a better understanding of the mortgage in California.
The primary component of the puzzle is the dwelling cost – the amount you intend to allocate toward your upcoming property. An initial payment is the segment of this cost to be paid in advance. To evade exorbitant insurance charges, you must come up with a minimum of 20% down (in the case of a traditional loan). The remaining sum constitutes the principal (e.g., 80% of the dwelling cost given a 20% down payment).
A loan duration denotes the period required for complete repayment of your mortgage through regular payments. Fixed-rate conforming loans typically have a maximum duration of 30 years, while adjustable-rate alternatives usually offer shorter terms.
An interest rate represents a fixed or fluctuating fraction of the principal that you must remunerate over the loan's duration. It is important to note that you are levied an annual percentage rate (commonly abbreviated as APR), which is not precisely identical to the interest rate. Although the interest rate forms the majority of the APR value, the latter also encompasses various fees (e.g., origination fee, closing costs, insurance payments, etc.).
For a more precise evaluation, the interest rate employed for these computations is based on the current mortgage rates in California, assuming a home price of $400,000 and a down payment of 10%.
California Housing Market 2023
Over the past year, there has been a significant surge in the market worth of real estate in California. This ongoing trend has been magnified by the impact of the COVID pandemic. However, the rate of expansion has slowed down compared to the previous year, while both acquisition and refinancing rates have been progressively rising and are anticipated to increase further in the foreseeable future.
Median property taxes in California counties
The property tax is another important thing to consider when selecting your future house. Many lenders insist on setting up a mortgage escrow account to ensure the borrower’s keeping up with the tax and insurance costs.
County | Avg. property tax rate | Avg. home value |
---|---|---|
Alameda County | $3,993 | $781,000 |
Alpine County | $2,244 | $343,800 |
Amador County | $1,932 | $278,600 |
Butte County | $1,548 | $268,900 |
Calaveras County | $2,193 | $273,400 |
Colusa County | $1,403 | $223,600 |
Contra Costa County | $3,883 | $642,300 |
Del Norte County | $1,416 | $185,900 |
El Dorado County | $2,744 | $472,100 |
Fresno County | $1,666 | $248,700 |
Glenn County | $1,433 | $214,600 |
Humboldt County | $1,651 | $325,200 |
Imperial County | $1,343 | $200,700 |
Inyo County | $1,414 | $243,100 |
Kern County | $1,746 | $205,700 |
Kings County | $1,353 | $224,500 |
Lake County | $1,645 | $210,500 |
Lassen County | $1,234 | $177,500 |
Los Angeles County | $2,989 | $588,700 |
Madera County | $1,616 | $240,800 |
Marin County | $5,500 | $1,014,000 |
Mariposa County | $1,482 | $259,500 |
Mendocino County | $2,002 | $409,900 |
Merced County | $1,558 | $253,700 |
Modoc County | $953 | $143,100 |
Mono County | $2,299 | $311,700 |
Monterey County | $2,894 | $517,200 |
Napa County | $3,342 | $628,500 |
Nevada County | $2,697 | $437,200 |
Orange County | $3,404 | $679,400 |
Placer County | $3,441 | $468,400 |
Plumas County | $1,475 | $228,900 |
Riverside County | $2,618 | $352,700 |
Sacramento County | $2,204 | $353,400 |
San Benito County | $3,716 | $459,700 |
San Bernardino County | $1,997 | $326,600 |
San Diego County | $2,955 | $563,800 |
San Francisco County | $4,311 | $1,104,100 |
San Joaquin County | $2,340 | $349,200 |
San Luis Obispo County | $3,002 | $574,400 |
San Mateo County | $4,424 | $1,087,100 |
Santa Barbara County | $2,919 | $567,600 |
Santa Clara County | $4,694 | $971,300 |
Santa Cruz County | $3,661 | $775,000 |
Shasta County | $1,595 | $248,900 |
Sierra County | $1,486 | $157,100 |
Siskiyou County | $1,245 | $176,600 |
Solano County | $2,700 | $411,700 |
Sonoma County | $3,160 | $628,400 |
Stanislaus County | $1,874 | $288,200 |
Sutter County | $1,858 | $278,300 |
Tehama County | $1,186 | $191,400 |
Trinity County | $1,081 | $286,500 |
Tulare County | $1,320 | $204,300 |
Tuolumne County | $1,755 | $273,500 |
Ventura County | $3,372 | $592,500 |
Yolo County | $2,708 | $430,400 |
Yuba County | $1,566 | $253,000 |
Source: American Communities Survey 2016, U.S. Census
How do I calculate my mortgage payment?
Our calculator employs a simple formula, which you can utilize to determine the sum to be paid manually:
M = P * i(1 + i)^n / (1 + i)^n – 1
M – estimated monthly mortgage payment;
P – principal;
I – monthly interest rate (to ascertain this, divide your annual mortgage rate by 12);
N – the loan term expressed in months (in other words, the overall number of monthly payments)
Imagine you are applying for a 15-year mortgage loan with a fixed APR of 6.99% (which is equivalent to .0699 as a unit fraction). The cost of the house is $500k, with 10% ($50,000) to be paid as a down payment. In this case, the principal amount (P) would be 90% of the initial home cost ($500,000 – $50,000 = $450,000).
I = .0699% / 12 = .005825%.
Lastly, let’s convert the loan length from years to months: N = 15 * 12 = 180.
M ($) = 450,000 * .005825(1 + .005825)^180 / (1 + .005825)^180 – 1 ≈ 4042.
Thus, you can expect to pay approximately $4042 per month.
It is important to emphasize that the calculated M value is only an approximation, as it does not take into account any additional fees.
Tips for first-time home buyers in California
To begin with, there are various federal agencies (USDA, FHA, and VA) that ensure loans for eligible borrowers. Numerous first-time homebuyers can discover choices that best suit their budget.
Apart from these government-guaranteed initiatives, it is worthwhile to consider some offerings from UHC (California Housing Corporation) accessible to residents of California. Specifically, first-time homebuyers have the opportunity to apply for FirstHome – a program that provides assistance with down payments and closing costs, if they meet the requirements for an FHA loan and have a FICO score of at least 660. This alternative covers up to 6% of the loan amount towards the down payment and/or the closing expenses. It's crucial to note that this option is available solely as a 30-year fixed-rate second loan.
If you don't qualify for the FirstHome program, there's no need to lose hope. California Housing Score Loan presents an alternative program that covers up to 4%. The minimum acceptable credit score required is 620.
For first-time homebuyers, here are some valuable tips:
- Obtain pre-approval in advance. This step will enhance your creditworthiness in the eyes of home sellers. It is highly advisable to acquire the pre-approval letters from not just one, but a minimum of two or three different lenders.
- Compare diverse mortgage rates. Select at least three lenders. The more, the preferable.
- Strategize your future expenses.
- Allocate funds for a down payment to the maximum extent possible – and as early as possible. The down payment will diminish the principal amount, which, consequently, can decrease your potential expenses. Hence, it is crucial to commence saving in advance.
- If you qualify for a VA loan, prioritize this alternative above all else.
- Evaluate government-backed schemes, along with local assistance programs. There might be enticing offers – ensure you don't miss out.
- Repay prior debts, if possible.