Mortgage on a $950K house in California
$6,156 a month with 20% down — $5,113 principal and interest plus $569 property tax and $475 insurance.
California's typical property tax is 0.72% of the home's value a year (U.S. average 0.9%), which adds $569 a month on a $950K home. The typical home in California is worth $761,538, so $950K is 25% above the typical price.
$950K home in California: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $190,000 | $760,000 | $5,113 | $0 | $1,044 | $6,156 | $263,800 |
| 10% down | $95,000 | $855,000 | $5,752 | $356 | $1,044 | $7,152 | $306,500 |
| 5% down | $47,500 | $902,500 | $6,071 | $376 | $1,044 | $7,491 | $321,000 |
| 3.5% down (FHA) | $33,250 | $932,793 | $6,275 | $420 | $1,044 | $7,739 | $331,700 |
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 $950K buy a typical home?
In these counties the typical home value is within 15% of $950K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| San Diego County | $926,979 | 0.68% | $6,122 |
| Santa Barbara County | $988,595 | 0.65% | $6,098 |
| San Luis Obispo County | $897,661 | 0.68% | $6,129 |
| Los Angeles County | $871,674 | 0.68% | $6,126 |
| Ventura County | $869,794 | 0.68% | $6,124 |
| Napa County | $869,491 | 0.69% | $6,133 |
| Alameda County | $1,044,951 | 0.78% | $6,203 |
| Monterey County | $841,129 | 0.63% | $6,085 |
50 of 58 California counties tracked by Zillow have a typical home value at or below $950K. See all California home prices.
Other prices in California
Frequently asked questions
What is the mortgage on a $950K house in California?
About $6,156 a month with 20% down at 7.11%: $5,113 principal and interest, $569 property tax and $475 insurance.
How much do I need to make to buy a $950K house in California?
About $263,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $950K house in California?
At California's typical effective rate of 0.72%, about $6,825 a year. Rates vary by county and city — see the county pages.