Typical California mortgage payment
The median home price in California is roughly $765,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $6,050 | $4,107 |
| 5.50% | $6,251 | $4,344 |
| 6.00% | $6,456 | $4,587 |
| 6.50% | $6,664 | $4,835 |
| 7.00% | $6,876 | $5,090 |
| 7.50% | $7,092 | $5,349 |
| 8.00% | $7,311 | $5,613 |
At 6.50% over 30 years, a $765,000 home in California costs about $4,835/month in principal & interest.
What affects your California payment?
- Property taxes & insurance vary by county and aren't included above.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price is an approximate estimate. Figures are principal & interest only and exclude taxes, insurance and fees. Not financial advice.