Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
California mortgage costs
What a typical California (CA) purchase actually costs each month once property tax, insurance and PMI are included — and how to model your own numbers.
| Median home price | $785,000 |
|---|---|
| 10% down payment | $78,500 |
| Loan amount | $706,500 |
| Principal & interest (30yr @ 6.75%) | $4,582/mo |
| Property tax (0.71%) | $464/mo |
| Homeowners insurance | $133/mo |
| PMI (until 20% equity) | $294/mo |
| Estimated total monthly | $5,475/mo |
Illustrative only, at a 6.75% sample rate with 10% down. Your rate, tax assessment and insurance premium will differ.
What makes California different
Proposition 13 caps assessment growth at 2% a year, so long-held homes often pay far less tax than a new purchase at the same value.
A top state income tax rate of 13.3% makes mortgage interest and property tax deductions worth more here than in a no-income-tax state — though the $10,000 SALT cap limits how much of the $5,574 annual property tax bill actually reduces what you owe.
California is an expensive place to buy. The median $785,000 is the 2nd highest in the country and $442,500 above the national median, putting a 20% deposit at roughly $157,000 before any closing costs.
Renting deserves a serious look here. $785,000 to buy against $2,900 a month to rent is a price-to-rent ratio of 22.6, the 5th highest in the country; at that level the deposit invested elsewhere is a real competitor rather than a consolation.
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