Mortgage on a $150K house in California
$972 a month with 20% down — $807 principal and interest plus $90 property tax and $75 insurance.
California's typical property tax is 0.72% of the home's value a year (U.S. average 0.9%), which adds $90 a month on a $150K home. The typical home in California is worth $761,538, so $150K is 80% below the typical price.
$150K home in California: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,000 | $120,000 | $807 | $0 | $165 | $972 | $41,700 |
| 10% down | $15,000 | $135,000 | $908 | $56 | $165 | $1,129 | $48,400 |
| 5% down | $7,500 | $142,500 | $959 | $59 | $165 | $1,183 | $50,700 |
| 3.5% down (FHA) | $5,250 | $147,283 | $991 | $66 | $165 | $1,222 | $52,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.72% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in California does $150K buy a typical home?
No California county has a typical home value within 15% of $150K.
0 of 58 California counties tracked by Zillow have a typical home value at or below $150K. See all California home prices.
Other prices in California
Frequently asked questions
What is the mortgage on a $150K house in California?
About $972 a month with 20% down at 7.11%: $807 principal and interest, $90 property tax and $75 insurance.
How much do I need to make to buy a $150K house in California?
About $41,700 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $150K house in California?
At California's typical effective rate of 0.72%, about $1,078 a year. Rates vary by county and city — see the county pages.