California Mortgage Calculator – PITI, PMI, FHA & Affordability

California Mortgage Calculator — Estimate Your PITI Payment

This California mortgage calculator estimates your true monthly payment — PITI: principal, interest, property taxes, and homeowners insurance — plus PMI, FHA MIP, the VA funding fee, and HOA dues. Enter a home price and loan details to see your payment, affordability, extra-payment savings, and refinance breakeven instantly, privately, in your browser.

Built for California's high-price market — from Los Angeles and San Diego to San Francisco, San Jose, Oakland, Sacramento and Fresno — with CA-realistic defaults for Prop 13 property taxes and wildfire-adjusted insurance. Compare Conventional, FHA, VA and jumbo financing, run a full amortization schedule, and download your results as a PDF. No signup, no lead forms.

100% Free No Signup Full PITI Breakdown FHA · VA · Conventional · Jumbo Amortization Schedule PDF Export Runs in Your Browser

JS: Ready Input: Waiting Result: — Engine: Browser

✓ Calculation complete — results are in the panel beside the tool (below it on mobile), and they update automatically whenever you change a value.

Home price ($)

$

Down payment

% = $

Loan type Conventional FHA — low 3.5% down VA — 0 down for eligible veterans Jumbo — above conforming limits

Interest rate (%)

%

Rates change daily — enter your quoted rate.

PMI rate (% of loan per year)

%

PMI typically runs ~0.3%–1% of the loan per year depending on credit and down payment. Editable.

PMI applies below 20% down and typically cancels automatically once you reach ~20–22% equity.

Annual MIP rate (%)

%

The 1.75% upfront MIP is financed into the loan automatically. Annual MIP range 0.15%–0.75%.

FHA MIP generally lasts the life of the loan with under 10% down.

VA funding fee (%)

%

Set to 0% if you're exempt (e.g., service-connected disability). Financed into the loan.

VA loans carry no monthly PMI or MIP — the one-time funding fee replaces it.

Loan term 15 years 20 years 30 years Custom (5–40 yrs)…

Custom term (years)

yrs

Property tax rate (%)

%

Prop 13 caps the base rate at 1% plus local voter-approved assessments; CA effective rates commonly run ~1.1–1.3%.

Homeowners insurance ($/year)

$

CA premiums run higher due to wildfire risk — use your quote if you have one.

HOA dues ($/month)

$

Other monthly costs ($, optional)

$

⚠ Many jumbo lenders require 20% down — check with your lender. Calculation continues below.

How much mortgage can I get approved for in California?

Enter the monthly PITI payment you're comfortable with — the calculator solves for the maximum home price, including property tax, insurance, and PMI/MIP as they scale with price.

Comfortable monthly PITI budget ($)

$

Down payment cash available ($)

$

Loan type Conventional FHA — low 3.5% down VA — 0 down for eligible veterans Jumbo — above conforming limits

Interest rate (%)

%

PMI rate (% of loan per year)

%

PMI applies below 20% down and typically cancels automatically once you reach ~20–22% equity.

Annual MIP rate (%)

%

1.75% upfront MIP is financed into the loan automatically.

FHA MIP generally lasts the life of the loan with under 10% down.

VA funding fee (%)

%

VA loans carry no monthly PMI or MIP — the one-time funding fee replaces it.

Loan term 15 years 20 years 30 years Custom (5–40 yrs)…

Custom term (years)

yrs

Property tax rate (%)

%

Homeowners insurance ($/year)

$

HOA dues ($/month)

$

Gross monthly income ($, optional)

$

Optional — used only to show your payment-to-income ratio. Never sent anywhere.

See how extra principal payments shorten your mortgage and how much interest they save.

I know my current loan balance

Rebuild from my original purchase loan

Current loan balance ($)

$

Interest rate (%)

%

Remaining term (years)

yrs

Original home price ($)

$

Original down payment ($)

$

Interest rate (%)

%

Original term (years)

yrs

Payments already made

---

Extra payment — every month ($)

$

Extra payment — one time ($)

$

Applied with your very next payment (e.g., a bonus or tax refund).

Should you refinance? Compare your current loan with a new one — including a break-even calculation on closing costs.

Current loan balance ($)

$

Current interest rate (%)

%

Remaining months

New interest rate (%)

%

New term (years)

yrs

Closing costs ($)

$

CA refinance closing costs typically run 2–5% of the loan — auto-filled at 2%; edit to match your Loan Estimate.

⚠️ Estimates only — not a loan offer. Rates, loan limits, and terms vary; lenders verify credit, income, and debts. Property tax here is estimated from your purchase price; actual bills vary by county and assessments.

🔒 Privacy: all calculations run entirely in your browser — no financial data is sent, stored, or shared, and there are no lead-gen forms. Works offline once loaded (PDF export downloads its library once from a CDN; Save as Text always works offline).

Your results

Press Calculate — the defaults model a typical California purchase so you can see a full PITI breakdown immediately, then edit every field to match your situation.

• Monthly Payment (PITI) — principal, interest, taxes, insurance, PMI/MIP, HOA
• Affordability — max price for your target payment
• Extra Payments — payoff sooner, save interest
• Refinance — savings + break-even on closing costs

Amortization Schedule

Period	Payment	Principal	Interest	Extra	Ending Balance

Month	Payment	Principal	Interest	Extra	Balance

What Is a PITI Mortgage Calculator?

PITI stands for Principal, Interest, Taxes, and Insurance — the four core parts of a monthly mortgage payment. A PITI mortgage calculator for California layers on the costs that hit hardest here: property tax at roughly 1.1–1.3% effective under Prop 13, wildfire-inflated homeowners insurance, and PMI or FHA MIP when your down payment is small. A payment that looks affordable as principal-and-interest alone can jump 15–25% once the full PITI picture is included — which is exactly why budgeting on P&I alone is the most common first-time-buyer mistake in expensive markets like Los Angeles, the San Francisco Bay Area, and San Diego.

This tool computes every component separately — principal & interest, property tax, insurance, PMI/MIP, HOA dues — shows you the exact split, and extends the same math to four questions: what will I pay (Monthly Payment), how much house can I afford (Affordability), how fast can I pay it off (Extra Payments), and should I refinance (Refinance with break-even).

What Is a Mortgage Calculator Used For?

A mortgage calculator is used for four practical jobs: budgeting a realistic monthly payment before house hunting, comparing loan offers (different rates, terms, and loan types side by side), planning a down payment (seeing how 10% vs 20% changes both the payment and PMI), and evaluating a refinance (whether the monthly savings justify the closing costs). This California version does all four in one page — and unlike lender calculators, it doesn't ask for your phone number.

How the Mortgage Payment Formula Works

Every fixed-rate mortgage payment of principal and interest comes from the same standard amortization formula:

M = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)

• P — the loan amount: home price − down payment (plus financed FHA MIP or VA funding fee)
• r — the monthly interest rate: annual rate ÷ 1,200
• n — the number of monthly payments (years × 12)
• M — your fixed monthly principal & interest

One worked line: on a $675,000 loan at 6.5% for 30 years, r = 0.065/12 = 0.0054167 and n = 360, so M = 675,000 × 0.0054167 × (1.0054167)³⁶⁰ ÷ ((1.0054167)³⁶⁰ − 1) ≈ $4,266/month of principal and interest. Property tax, insurance, PMI/MIP, and HOA are then added on top to reach full PITI.

California Property Taxes & Prop 13

Under Proposition 13, California caps the base property tax rate at 1% of a home's assessed value and limits annual assessment increases to 2% — but county voter-approved assessments and special districts add more on top, so effective rates commonly land around 1.1–1.3% statewide. The critical thing for buyers: when a home sells, it is reassessed at the purchase price. The seller's low tax bill tells you nothing about yours. That's why this calculator computes tax from your price × your rate — a $750,000 purchase at 1.25% means about $9,375/year, or $781/month, every month, for as long as you own it (rising modestly with the 2% cap). The rate field is editable because Fresno, Sacramento, and Bay Area counties all differ slightly.

Homeowners Insurance in California

California homeowners insurance costs more than the national average largely because of wildfire risk — and premiums have risen sharply in recent years, with some carriers reducing coverage in high-risk areas. The tool's $1,800/year default is a mid-range estimate for a typical single-family home; condos run lower and hillside or wildland-adjacent homes can run several times higher. Always replace the default with an actual quote once you have one — the difference flows straight into your monthly PITI.

FHA vs Conventional vs VA in California

Conventional loans (not government-insured) typically need 3–5% down minimum, but putting down less than 20% adds PMI — roughly 0.3–1% of the loan per year until you reach ~20–22% equity, when it can be requested for removal or is auto-terminated. FHA loans allow just 3.5% down with a 580+ credit score, but charge an upfront MIP of 1.75% (financed into the loan) plus annual MIP that generally lasts the life of the loan with under 10% down. VA loans for eligible veterans and service members require no down payment and no monthly mortgage insurance — just a one-time funding fee (commonly 2.15% for first-time use, financed in; 0% for certain exemptions). Jumbo loans finance amounts above FHFA conforming loan limits — limits that high-cost California counties exceed quickly, so many LA, Bay Area, and coastal purchases are jumbo by default. Limits change annually; check the current FHFA limits rather than relying on any number printed in an article, and note many jumbo lenders want 20% down.

Worked Example: $750,000 Home, 10% Down, Conventional, 6.5%, 30 Years

A typical California scenario — say a $750,000 home in Sacramento or Riverside with 10% down ($75,000), a 6.5% rate, a 1.25% tax rate, and $1,800/year insurance:

1. Loan amount: $750,000 − $75,000 = $675,000 (90% LTV — PMI applies)
2. Principal & interest: ≈ $4,266/month
3. Property tax: $750,000 × 1.25% ÷ 12 ≈ $781/month
4. Homeowners insurance: $1,800 ÷ 12 = $150/month
5. PMI (0.5% default): $675,000 × 0.5% ÷ 12 ≈ $281/month — the 10% down payment triggers it, which is the teaching moment: 20% down would erase this line entirely
6. Total PITI: ≈ $5,479/month, with the loan paid off around mid-2055 and roughly $861,000 of total interest over 30 years

These exact defaults are pre-loaded in the calculator above — press Calculate and the tool reproduces every figure live, including the full amortization schedule.

Why Use This California Mortgage Calculator?

🧾 True PITI, not just P&I

Property tax scaling with price, wildfire-adjusted insurance, PMI/MIP switching at LTV thresholds, HOA dues — the payment you see is the payment you'd actually make.

🏦 Four loan types, one calculator

Conventional PMI, FHA's financed upfront MIP and annual MIP, the VA funding fee, and jumbo context — no need to hunt a separate FHA-only tool.

❓ Four questions, four modes

Payment, affordability (solved with full-PITI feedback, not back-solved P&I), extra-payment savings, and refinance with a real break-even calculation.

📄 PDF & text export

Download a formatted report of inputs, results, and the yearly amortization table to bring to lender meetings — no other calculator in this niche offers it.

🔒 Private, instant, no lead forms

No phone number, no email gate, no server calls. Every number is computed in your browser in under 50 milliseconds.

Popular Use Cases

First-time CA buyer budgeting

Set a PITI ceiling before touring homes in any metro — then let the Affordability tab translate it into a real max price.

FHA vs conventional comparison

Flip the loan-type selector on the same home and watch PMI vs MIP vs funding fee change the monthly and lifetime cost.

Move-up buyer affordability check

Selling an existing home? Enter your equity as down payment cash and see what price range it unlocks.

Extra-payment planning

See what $200/month extra does to a 30-year loan — usually years sooner and six figures of interest on CA loan sizes.

Refinance break-even

Bought at 7%+ and rates dropped? Check monthly savings against 2–5% closing costs and see exactly when you break even.

Comparing metro price points

Run $750,000 (Sacramento) vs $1.4M (Bay Area) vs $450,000 (Fresno) to see how far a payment stretches across California.

Pro Tips for California Homebuyers

1. Get pre-approved before touring. In competitive CA markets, sellers take offers with pre-approval letters seriously and skip the rest. This tool's estimate is for planning; the pre-approval is for the offer.
2. Plan cash for closing costs, not just the down payment. CA purchase closing costs typically run 2–5% of the price on top of your down payment — budget both from day one.
3. Request Loan Estimates from 3+ lenders. Rates and fees vary meaningfully between banks, credit unions, and brokers; the standardized Loan Estimate form makes them comparable line by line.
4. Remember PMI removal. On conventional loans you can request PMI cancellation at 20% equity and it auto-terminates at 22% — set a calendar reminder rather than leaving hundreds per month on the table.
5. Don't stretch to your max approval. The lender qualifies you on gross income — not your childcare, commute, or retirement goals. Budget backward from a comfortable PITI instead.
6. Factor HOA dues into condo budgets. $400/month of HOA is equivalent to roughly $60,000–$70,000 of purchase price in payment terms — compare condos on PITI + HOA, never price alone.

Common California Mortgage Mistakes to Avoid

• Budgeting on principal & interest only. On a $750,000 home, tax + insurance + PMI can add $1,200+/month. Always work in full PITI.
• Ignoring property tax reassessment. The seller's Prop 13-protected tax bill is not yours — yours resets to your purchase price at closing.
• Forgetting FHA MIP lasts the loan life (with under 10% down). Refinancing to a conventional loan later is often how FHA borrowers finally escape MIP.
• Skipping closing costs in cash planning. Buyers who arrive with exactly 10% down often scramble to cover 2–5% more in costs.
• Maxing out at the approval ceiling. Approval says what a lender will lend — not what you should spend. Leave room for life.

California Mortgage FAQ

A mortgage calculator is used for budgeting a monthly payment, comparing loan offers on rate and term, planning down-payment amounts, and evaluating whether a refinance pays for itself. This California version handles all four jobs in one page — and computes the full PITI payment (including tax, insurance, and PMI/MIP) rather than principal-and-interest alone, which matters a lot in a high-tax, high-insurance state.

PITI means Principal, Interest, Taxes, and Insurance — the full monthly housing payment. A California PITI calculator adds state-realistic inputs: Prop 13 property tax (~1.1–1.3% effective, reassessed at purchase price), wildfire-affected homeowners insurance, and PMI or FHA MIP when down payments are under 20%. The calculator above breaks every dollar of the payment into labeled components so nothing surprises you at closing.

Lenders decide approval based on credit score, verified income, debts (your debt-to-income ratio), and the down payment — so no calculator can promise a number. A practical planning method is budget-first: pick a comfortable monthly PITI and solve backward for the price. The Affordability tab does exactly that, including tax and insurance scaling. A common guideline is housing costs ≤ ~28% of gross income. For the real figure, get pre-approved by a lender.

Prop 13 caps the base rate at 1% of assessed value and limits assessment growth to 2%/year, but voter-approved local assessments push typical effective rates to roughly 1.1–1.3%, varying by county. Key buyer fact: homes are reassessed at the purchase price when sold — so budget tax on your price, not the seller's old bill. The tool's 1.25% default is editable; on a $750,000 home that's about $781/month.

It depends on the loan type: conventional programs go as low as 3–5% down, FHA requires 3.5% (with a 580+ credit score), and VA requires 0% for eligible veterans. Twenty percent down is the number to aim for if you can — it eliminates PMI on conventional loans, which typically runs 0.3–1% of the loan per year. Remember to budget closing costs (roughly 2–5%) on top of the down payment.

Principal and interest use M = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly rate (annual ÷ 1,200), and n is the number of payments. Then add monthly property tax, insurance, PMI/MIP, and HOA for full PITI. Or just enter your numbers in the Monthly Payment tab above — it shows each component and the total, with the formula's results broken out line by line.

Three routes: request cancellation in writing once you reach 20% equity (based on the original value schedule), wait for automatic termination at 22% equity, or reach 20% through appreciation — some lenders will order an appraisal and cancel based on current value. FHA MIP works differently: with under 10% down it generally lasts the life of the loan, so escaping it usually means refinancing to a conventional loan once you have enough equity.

The core test is the break-even: divide closing costs (commonly 2–5% of the loan in California) by the monthly payment savings — if you'll stay in the home well past that break-even month, refinancing usually pays. Watch out for term extension: a lower payment over a longer term can still cost more lifetime interest. The Refinance tab computes monthly savings, lifetime interest difference, net benefit after costs, and the break-even month in one view.

No. Every calculation runs locally in your browser's JavaScript — no figures are sent to a server, saved to a database, or shared with anyone, and there are no lead-gen forms asking for your contact details. Once the page loads, the calculator even works offline. (That describes how this tool handles data — it isn't a blanket security guarantee for your device or network.)

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🔒 Privacy: all calculations run entirely in your browser — no financial data is sent, stored, or shared. ⚠️ Estimates only — not a loan offer; rates, limits, and terms vary, and lenders verify credit and income.