California Mortgage Calculator
Prop 13 keeps rates low, but high prices and wildfire insurance shape the payment.
California's effective property tax rate averages about 0.75%, below the national average, because Proposition 13 caps assessed value growth at 2% per year and taxes are based on the acquisition value, not current market value. Price is the offsetting factor. A median-priced home means a large loan and a large dollar amount of tax even at a low rate.
Insurance is the other California story. Wildfire risk has led many carriers to restrict coverage or raise premiums in high-risk areas, and some regions now rely on the FAIR Plan as insurer of last resort.
Assumptions & Review
Last reviewed: August 2026 · The Mortgage Curve editorial team
These are rough planning assumptions, not precise quotes. The tax figure is a dated state-level effective-rate reference; the insurance figure is an editorial percentage estimate. Your actual property tax depends on your county, city, school district, and assessed value, and your insurance premium depends on your carrier, coverage, deductible, and local risk.
Methodology: the tax percentage is a 2024 owner-occupied effective-rate planning reference; insurance and home-price figures are editorial estimates informed by public data and reviewed in August 2026. Verify them with your county assessor, insurer, or lender before relying on the estimate. See the U.S. Census housing data reference.
View sources and methodology
Tax reference: Tax Foundation 2024 property-tax data ↗. Insurance context: Insurance Information Institute homeowners-insurance data ↗. Insurance and home-price values on this page remain editorial estimates; these references do not replace a local tax bill or insurance quote.
- California property tax default: 0.7% of home value per year
- California insurance default: 0.45% of home value per year
- Interest rate: 6.5%, 30-year term, 20% down
- PMI: 0.5% of loan per year when below 20% down; modeled flat and not automatically canceled
Calculate a California Mortgage
The calculator starts with an illustrative $800,000 home, a 20% down payment, a 6.5% rate, and a 30-year term, using the California property-tax reference of 0.7% and the editorial insurance estimate of 0.45%. Adjust any value to see the monthly payment change in real time.
Adjust the numbers
California property tax and insurance defaults are pre-loaded. Edit any value.
Estimated Monthly Costs
PMI applies only when the down payment is below 20%.
Estimated Monthly Payment
Monthly Payment by Home Price in California
Using the California state-level tax (0.7%) and insurance (0.45%) defaults, 20% down, 6.5%, 30-year.
| Home Price | Loan (20% down) | Principal & Interest | Taxes | Insurance | Total Payment | Total Interest | Try It |
|---|---|---|---|---|---|---|---|
| $600,000 | $480,000 | $3,033.93 | $350.00 | $225.00 | $3,608.93 | $612,214 | Open calculator |
| $800,000 | $640,000 | $4,045.24 | $466.67 | $300.00 | $4,811.90 | $816,285 | Open calculator |
| $1,200,000 | $960,000 | $6,067.85 | $700.00 | $450.00 | $7,217.85 | $1,224,427 | Open calculator |
State-level defaults only. Replace them with your county's tax bill and an actual insurance quote for a precise figure.
What's Different About California?
Property Tax
Average effective rate ≈ 0.75% of home value per year for a recent purchase, thanks to Prop 13. Long-term owners pay much less relative to current market value.
Homeowners Insurance
Rough state-level estimate ≈ 0.45% of home value per year in lower-risk areas. Wildfire zones can cost more, be harder to insure, or require the FAIR Plan.
Local Variation
- Prop 13 basis: Tax is based on your acquisition value plus capped 2% growth, so two identical homes can carry very different tax bills.
- Mello-Roos: Newer subdivisions often carry Mello-Roos community facility district assessments on top of the general tax.
- Wildfire risk: County and neighborhood fire risk is now the dominant variable in California insurance pricing.
Compare Other State Mortgage Estimates
Texas (TX)
No state income tax, but property taxes that run near double the national average.
Florida (FL)
Hurricane-driven insurance costs can rival your principal and interest payment.
New York (NY)
High prices downstate and property taxes averaging 1.4% of value.
New Jersey (NJ)
The highest effective property tax rate in the US, near 2.3%.
Illinois (IL)
High property taxes on top of a heavy state and local tax burden.
Massachusetts (MA)
High prices, moderate taxes, and a 2.5% property tax levy cap.
Arizona (AZ)
Phoenix-led demand keeps Arizona a top buyer destination.
Georgia (GA)
Atlanta-led growth with property taxes near the national average.
Tennessee (TN)
No state income tax and a low property tax make Tennessee a fast-growing target.
North Carolina (NC)
Lower prices and taxes, offset by coastal storm insurance.
Pennsylvania (PA)
High property taxes and municipal Earned Income Tax (EIT) shape overall housing costs.
Ohio (OH)
Affordable home prices offset by high Midwest property tax rates.
Michigan (MI)
Headlee Amendment caps assessment growth until a home is sold.
Wisconsin (WI)
High property tax rates paired with stable midwestern housing costs.
South Carolina (SC)
Low 4% primary residence tax rate, but secondary homes pay 6%.
Nevada (NV)
No state income tax, low property taxes, and a 3% primary tax cap.
Colorado (CO)
Low property tax rates offset by high home prices and wildfire insurance premiums.
Washington (WA)
No personal state income tax with strong home equity appreciation.
Virginia (VA)
Moderate real estate tax rates, but Northern Virginia home prices require careful planning.
Alabama (AL)
Lowest property tax rates in the nation offset by coastal hurricane insurance risk.
Alaska (AK)
No state sales or income tax, with property taxes levied primarily by organized boroughs.
Arkansas (AR)
Low property tax rates and affordable Midwestern housing costs.
Connecticut (CT)
High property taxes levied by individual towns without county government.
Delaware (DE)
No state sales tax, low property taxes, and strong East Coast relocation demand.
District of Columbia (DC)
Low effective property tax rate offset by high urban real estate prices.
Hawaii (HI)
Lowest effective property tax rate in the US paired with highest home values.
Idaho (ID)
Rapid home price growth supported by low property tax rates.
Indiana (IN)
Constitutional 1% property tax cap protects primary homeowners.
Iowa (IA)
High property tax rates paired with low Midwestern purchase prices.
Kansas (KS)
Moderate home prices with elevated severe weather insurance rates.
Kentucky (KY)
Moderate property tax rates and strong overall housing affordability.
Louisiana (LA)
Generous $75,000 Homestead Exemption offset by nation-leading hurricane insurance rates.
Maine (ME)
Town-level property tax millage paired with low natural disaster risk.
Maryland (MD)
Triennial assessment system with local Homestead Tax Credit caps.
Minnesota (MN)
Tiered class rates and Homestead Market Value Exclusion.
Mississippi (MS)
10% assessment ratio and low median home prices offset by Gulf hurricane insurance.
Missouri (MO)
19% residential assessment ratio with stable Midwest home values.
Montana (MT)
No state sales tax, low property tax rates, and rapid mountain market growth.
Nebraska (NE)
High property tax rates combined with high wind and hail insurance premiums.
New Hampshire (NH)
No state sales or wage income tax, funded by high local property tax rates.
New Mexico (NM)
33.3% assessment ratio and 3% annual valuation growth caps.
North Dakota (ND)
50% assessment ratio and Primary Residence Credit relief.
Oklahoma (OK)
Low property tax rates offset by high Tornado Alley insurance premiums.
Oregon (OR)
Measure 50 caps maximum assessed value growth at 3% per year.
Rhode Island (RI)
Town-level millage rates with coastal storm insurance considerations.
South Dakota (SD)
No state income tax, with property tax funding local schools and counties.
Utah (UT)
45% primary residential exemption keeps effective property taxes low.
Vermont (VT)
Statewide Education Property Tax with Homestead income sensitivity adjustments.
West Virginia (WV)
Class II 60% assessment ratio and lowest median home prices.
Wyoming (WY)
No state income tax, 9.5% assessment ratio, and mineral-revenue funded operations.
California Mortgage FAQs
State-level defaults explained, and why your real numbers will differ.
1How is this state mortgage estimate calculated?
It uses the standard fixed-rate amortization formula for principal and interest, then adds a rough state-level property tax estimate and a rough state-level homeowners insurance estimate. Tax and insurance are based on percentages of home value, not a precise quote.
2Why is this not a precise quote?
These are state-level defaults meant for quick comparison. Your actual property tax depends on your county, city, school district, exemptions, and assessed value, and your insurance premium depends on your carrier, coverage, deductible, and local risk. Replace the defaults with your own figures in the calculator for a more accurate estimate.
3How do I get a more accurate estimate?
Open the prefilled calculator for the state, then update the property tax and insurance estimates with the figures from your tax bill, insurance quote, or lender's Loan Estimate. The calculator updates in real time and runs entirely in your browser.
4How does Prop 13 affect my California mortgage payment estimate?
Proposition 13 bases property tax on acquisition value with annual growth capped at 2%. A recent buyer at market value pays close to the 0.75% effective rate, while long-term owners often pay far less on the same market value.
5Why is it hard to get homeowners insurance in parts of California?
Wildfire risk has pushed many carriers to stop writing new policies in high-risk areas. A rough estimate of 0.45% of home value per year fits lower-risk regions; wildfire zones may pay more or rely on the FAIR Plan.
Calculate Your Exact California Mortgage
Open the free mortgage calculator with this page's typical California scenario prefilled, then replace the state defaults with your own home price, down payment, rate, tax, and insurance figures.
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