Mortgage Calculator California 2026: Payment, Prop 13 Tax & PMI
This mortgage calculator for California estimates your full monthly payment — principal & interest, Prop 13 property tax, homeowners insurance and PMI — plus the county documentary transfer tax. Enter your own rate; everything is calculated privately in your browser.
A mortgage calculator for California estimates the full monthly cost of a California home loan: principal and interest from standard amortization, plus property tax, homeowners insurance and private mortgage insurance (PMI) when you put down less than 20%. It also shows the county documentary transfer tax of $1.10 per $1,000, which the seller usually pays; some cities add their own.
How the Mortgage Calculator California Formula Works (Worked Example)
Principal and interest use the standard amortization formula M = P × r(1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of payments. Property tax is the home price × your local rate ÷ 12, insurance is your annual premium ÷ 12, and PMI is the loan amount × your PMI rate ÷ 12. Example: a $760,000 California home, 10% down, 30-year fixed at a user-entered 6.5% (click Load Example above to reproduce it).
| Item | Inputs | Monthly |
|---|---|---|
| Principal & interest | $684,000 loan, 6.5%, 360 payments | $4,323.35 |
| Property tax | 1.00% of $760,000 ($7,600/yr) | $633.33 |
| Homeowners insurance | $1,500/yr (example — use your quote) | $125.00 |
| PMI | 0.6% of $684,000 ($4,104/yr) | $342.00 |
| Total monthly payment | $5,423.68 | |
| County transfer tax (one-time, usually seller) | $760,000 ÷ $500 × $0.55 | $836.00 |
Over 30 years this loan pays about $872,400 in interest. Your rate is an input, not an assumption — check the current weekly national average in Freddie Mac’s Primary Mortgage Market Survey and compare lender Loan Estimates.
California Property Tax Rate (Prop 13) and Your Monthly Payment
Under Proposition 13 the general property tax rate is 1% of assessed value, plus any local rates for voter-approved debt such as school and infrastructure bonds. When you buy, the assessed value resets to the purchase price, and after that it can rise no more than 2% a year (Board of Equalization). The Tax Foundation puts California’s average effective rate at about 0.70% of home value (2023 Census data), but that average is pulled down by long-time owners with low Prop 13 assessments. A new buyer pays on the full price, which is why the default here is 1.00%, the Prop 13 base rate. Local voter-approved rates come on top of it and differ by tax rate area, so add yours from the listing’s tax bill. Mello-Roos and other special assessments are billed on top in many newer areas, so use the total rate shown on the listing’s tax bill. Owner-occupants can also claim the $7,000 homeowners’ exemption, which saves about $70 a year.
| Local rate | Annual tax on $760,000 | Added to monthly payment |
|---|---|---|
| 0.83% | $6,308 | $525.67 |
| 1.00% (Prop 13 base, default) | $7,600 | $633.33 |
| 1.65% | $12,540 | $1,045.00 |
California Closing Costs: Documentary Transfer Tax
Counties charge a documentary transfer tax of $0.55 per $500 of value, or $1.10 per $1,000, under Revenue and Taxation Code § 11911. Many cities add their own tax on top. The City of Los Angeles, for example, adds $4.50 per $1,000 plus the Measure ULA tax on sales above about $5.4 million (thresholds are indexed every July). San Francisco, Oakland, Berkeley and others use their own rates. State law does not say who pays. The seller customarily pays in most of California, but it is negotiable and varies by county.
| California item | Amount | Usually paid by |
|---|---|---|
| County documentary transfer tax (R&T Code § 11911) | $1.10 per $1,000 — $836.00 on $760,000 | Seller in most areas (negotiable) |
| City transfer tax (some cities only) | Varies — e.g. Los Angeles adds $4.50 per $1,000 | Set by local custom and contract |
| Escrow deposits for tax and insurance | Set by your lender — see your Loan Estimate | Buyer |
| Lender, appraisal and title charges | Vary by lender and title company — compare Loan Estimates | Negotiable |
Some costs are negotiable, and sellers sometimes cover part of a buyer’s closing costs as a concession.
How California Mortgage Rates Affect Your Payment
Rates in California follow national mortgage markets and vary by lender, credit score, down payment and loan type. The 6.75% default is an example rate, not a quoted average. On a $760,000 home with 20% down, it produces a monthly principal and interest payment of about $3,943. A 0.25% rate increase adds roughly $102 to that payment, so shopping multiple lenders can save thousands over the life of the loan.
Adjustable-rate mortgages (ARMs) often start lower but carry rate-reset risk. FHA loans (3.5% down), VA loans (0% down for eligible veterans) and USDA loans (0% down in eligible rural areas) are alternatives to a conventional loan in California.
First-Time Buyer Programs in California
CalHFA offers first-time buyer loans and down payment assistance, including its MyHome Assistance Program. Check CalHFA for current income and sales price limits.
FHA loans are available nationwide with 3.5% down for borrowers with a 580+ credit score. VA loans require no down payment and no PMI for qualified veterans and service members.
If your down payment is below 20%, PMI on a $684,000 loan adds about $342/month at a 0.6% annual rate. The Urban Institute puts typical PMI at roughly 0.46%–1.5% of the loan per year depending on credit score. PMI can be removed once your loan-to-value ratio reaches 80%, so extra payments accelerate the timeline to dropping PMI.
Last updated: October 2026. Estimates only — confirm figures with your lender, title company and local tax office.
Frequently Asked Questions
What is the average mortgage rate in California in 2026?
California mortgage rates track national averages and change weekly. Check the Freddie Mac Primary Mortgage Market Survey for the current 30-year fixed average, then compare quotes from several lenders - your rate depends on credit score, down payment and loan type.
What is the average monthly mortgage payment in California?
It depends on price, rate and local taxes. As an example, a $760,000 home with 20% down at 6.75% comes to about $4,702 a month in principal, interest, taxes and insurance, assuming the 1% Prop 13 base property tax rate and $1,500 a year for insurance. Enter your own numbers above.
Do I need PMI in California?
Yes — if your down payment is less than 20%, lenders in California require Private Mortgage Insurance (PMI) on conventional loans. The Urban Institute puts typical PMI at about 0.46%–1.5% of the loan amount per year, depending on credit score. PMI is removed once you reach 20% equity.
What is the average home price in California?
Home prices change every month and vary widely by city and county, so this page does not quote a statewide median. The $760,000 default in the calculator is only an example — enter the price of the home you are considering.
What is the property tax rate in California?
Proposition 13 sets the general rate at 1% of assessed value plus local voter-approved debt, and a purchase resets the assessed value to the price. This calculator defaults to the 1% base - $7,600 a year on a $760,000 home - so add your local voter-approved rate. Mello-Roos and special assessments can add more, so check the listing’s tax bill.
How much is the transfer tax in California?
Every county charges a documentary transfer tax of $0.55 per $500 of value ($1.10 per $1,000), which is $836.00 on a $760,000 home. Some cities add their own tax; Los Angeles adds $4.50 per $1,000 plus Measure ULA on high-value sales. The seller customarily pays in most of California, but it is negotiable.
What is the monthly payment on a $760,000 house in California?
With 10% down and a 30-year fixed loan at 6.5%, principal and interest is about $4,323 a month. Adding the 1% base property tax ($633), $1,500 a year insurance ($125) and 0.6% PMI ($342) brings the total to about $5,424 a month.