Mortgage on a $700K house in California
$4,536 a month with 20% down — $3,767 principal and interest plus $419 property tax and $350 insurance.
California's typical property tax is 0.72% of the home's value a year (U.S. average 0.9%), which adds $419 a month on a $700K home. The typical home in California is worth $761,538, so $700K is 8% below the typical price.
$700K home in California: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $140,000 | $560,000 | $3,767 | $0 | $769 | $4,536 | $194,400 |
| 10% down | $70,000 | $630,000 | $4,238 | $263 | $769 | $5,270 | $225,800 |
| 5% down | $35,000 | $665,000 | $4,473 | $277 | $769 | $5,520 | $236,600 |
| 3.5% down (FHA) | $24,500 | $687,321 | $4,624 | $310 | $769 | $5,702 | $244,400 |
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 $700K buy a typical home?
In these counties the typical home value is within 15% of $700K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Placer County | $684,800 | 0.84% | $4,610 |
| El Dorado County | $648,637 | 0.7% | $4,525 |
| Mono County | $758,836 | 0.65% | $4,498 |
| San Benito County | $763,020 | 0.81% | $4,591 |
| Contra Costa County | $768,394 | 0.83% | $4,599 |
| Sonoma County | $782,980 | 0.7% | $4,525 |
| Yolo County | $612,563 | 0.77% | $4,563 |
| Nevada County | $610,265 | 0.75% | $4,558 |
| Riverside County | $602,790 | 0.78% | $4,572 |
40 of 58 California counties tracked by Zillow have a typical home value at or below $700K. See all California home prices.
Other prices in California
Frequently asked questions
What is the mortgage on a $700K house in California?
About $4,536 a month with 20% down at 7.11%: $3,767 principal and interest, $419 property tax and $350 insurance.
How much do I need to make to buy a $700K house in California?
About $194,400 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $700K house in California?
At California's typical effective rate of 0.72%, about $5,029 a year. Rates vary by county and city — see the county pages.