California Mortgage Calculator
Model a California mortgage using your own tax and insurance assumptions.
Loan Details
Freddie Mac PMMS, November 5, 2026. Conventional market benchmark, not an APR or lender quote.
Auto-fills available estimates after five digits. You can edit both costs below.
Monthly Costs
$253/month
$150/month
Buying a Home in California: Jumbo Loans and Prop 13
The California housing market is notoriously expensive, meaning buyers often need specialized "Jumbo" mortgages to secure a home. However, California also offers some of the most powerful property tax protections in the entire world. Our California Mortgage Calculator accounts for both of these unique market realities.
Prop 13: Your Shield Against Massive Tax Bills
In many states, if the value of your home doubles over ten years, your property taxes will also double. This forces many retirees out of their homes. California's Proposition 13 permanently prevents this from happening.
- The Base Rate: When you buy a home in California, your property tax is generally assessed at 1% of the purchase price (plus smaller local voter-approved bonds).
- The 2% Cap: Prop 13 mandates that the assessed value of your home cannot increase by more than 2% per year for property tax purposes, regardless of how fast the market inflates.
Why you must manually enter your target purchase price: Because of Prop 13, the previous owner's tax bill is irrelevant to you. If they bought the house in 1990 for $200,000, they might be paying $2,500 a year in taxes. If you buy it from them today for $1,000,000, the home will instantly trigger a "reassessment" at the new purchase price, and your tax bill will be roughly $10,000+ a year.
Conforming vs. Jumbo Loans in California (2026)
Because home prices in coastal California (Los Angeles, San Francisco, San Diego) are so incredibly high, most buyers blow right past the standard federal loan limits.
- Standard Baseline Limit (2026): Approximately $832,750.
- High-Cost Area Limit (2026): In expensive California counties, Fannie Mae & Freddie Mac allow "super conforming" loans all the way up to $1,249,125. If you stay under this ceiling, you still get favorable conforming interest rates.
- Jumbo Loans: If your loan balance exceeds that high-cost limit, you must get a Jumbo Loan. These are held directly by private banks. They usually require higher credit scores (700+), larger down payments (often 20%), and extensive cash reserves (6-12 months of mortgage payments sitting in your bank).
Frequently Asked Questions
What is Mello-Roos?
A "Mello-Roos" is a special tax assessment district common in newer California housing developments (built after 1982). If you buy a newer home, you might have to pay a Mello-Roos fee on top of your normal 1% property tax. This repays bonds used to build local infrastructure like schools and roads. Always ask your realtor if the home is in a Mello-Roos district before making an offer.
How much is earthquake insurance?
Standard California homeowners insurance does not cover earthquake damage. You must buy a separate policy (often through the California Earthquake Authority). The premiums vary wildly based on proximity to fault lines and the age/construction of the home, but expect it to add $50 to $200+ to your monthly housing costs if you choose to buy it.
California mortgage calculator assumptions
Quick answer: A California mortgage estimate should combine principal and interest with property taxes, homeowners insurance, mortgage insurance, HOA dues and transaction-specific costs. Proposition 13 affects assessed-value rules, but it does not make every owner’s tax bill identical.
Use local tax information
Supplemental assessments, voter-approved debt and local charges can affect the bill. Verify the parcel and county information before relying on an estimate.
Model insurance separately
Home insurance availability and price vary by property and location. Use a property-specific quote, not a statewide average.
Check current loan limits
Conforming and high-cost limits can vary by county and year. Compare conventional mortgages and jumbo mortgage loans using current lender terms.
Scenarios to calculate
- Compare 30-year and 15-year terms.
- Stress-test a higher insurance quote.
- Add HOA dues and mortgage insurance where applicable.
Next: estimate closing costs, estimate affordability, review mortgage-rate context.
Continue your financial research
Use these closely related USFinNexus guides and tools to plan your next step.
Illustrative comparison scenarios
| Term | Monthly P&I | Scheduled interest |
|---|---|---|
| 10 years | $3,406 | $108,773 |
| 15 years | $2,613 | $170,398 |
| 20 years | $2,237 | $236,813 |
| 25 years | $2,026 | $307,686 |
| 30 years | $1,896 | $382,633 |
Educational scenarios, not quotes, approvals, investment forecasts or tax advice. See methodology and limitations.