Mortgage on a $300K house in California
$1,944 a month with 20% down — $1,614 principal and interest plus $180 property tax and $150 insurance.
California's typical property tax is 0.72% of the home's value a year (U.S. average 0.9%), which adds $180 a month on a $300K home. The typical home in California is worth $761,538, so $300K is 61% below the typical price.
$300K home in California: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $60,000 | $240,000 | $1,614 | $0 | $330 | $1,944 | $83,300 |
| 10% down | $30,000 | $270,000 | $1,816 | $113 | $330 | $2,258 | $96,800 |
| 5% down | $15,000 | $285,000 | $1,917 | $119 | $330 | $2,366 | $101,400 |
| 3.5% down (FHA) | $10,500 | $294,566 | $1,982 | $133 | $330 | $2,444 | $104,700 |
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 $300K buy a typical home?
In these counties the typical home value is within 15% of $300K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Lake County | $301,548 | 0.73% | $1,947 |
| Tehama County | $315,084 | 0.62% | $1,920 |
| Siskiyou County | $281,544 | 0.64% | $1,924 |
| Sierra County | $323,410 | 0.69% | $1,936 |
4 of 58 California counties tracked by Zillow have a typical home value at or below $300K. See all California home prices.
Other prices in California
Frequently asked questions
What is the mortgage on a $300K house in California?
About $1,944 a month with 20% down at 7.11%: $1,614 principal and interest, $180 property tax and $150 insurance.
How much do I need to make to buy a $300K house in California?
About $83,300 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $300K house in California?
At California's typical effective rate of 0.72%, about $2,155 a year. Rates vary by county and city — see the county pages.