Math that makes sense

California Calculates Mortgages A Bit Differently

What goes into a mortgage payment in California?

Credit Score

How can I improve my credit score?

Your credit will directly impact your mortgage rate. A higher credit score shows that you’re less of a risk to a lender and has the potential to help you qualify for a lower rate on your mortgage.

Loan type & Term

Which type of mortgage should I get?

Your loan term can have an impact on your monthly payment. Assuming the home cost and mortgage rate are similar, a 30-year term will come with lower monthly payments than a 15-year mortgage. However, you’ll pay more in interest during the life of a 30-year mortgage than you will with a 15-year mortgage.

Owning specializes in 30-year, fixed-rate mortgages under $750,000 for borrowers with a credit score over 640. Contact us to learn more about the available options.

Contact Us

Type of Property

Do you know which kind of home is right for you?

Whether you want a condo in the bay area or a single-family home in southern California, we can help you pay for it. If you don’t know the exact property type or area, you can still get pre-approved. Apply today to start the process and show sellers and agents that you’re serious with a pre-approval.

Apply for Pre-approval

Loan-to-Value (LTV) ratio

Calculating your LTV

Your LTV ratio compares the amount of the loan to the appraised value of the property. A lower LTV ratio can help your secure more favorable loan terms.

Debt-to-income (DTI) ratio

Calculating your DTI

Lenders review your financial situation, which your debt-to-income ratio plays a key role in. Your DTI compares your monthly debt payments to your monthly gross income. A lower DTI shows better financial health, and can help you secure more favorable mortgage terms.

Loan Amount

Do you know how much you’ll have to borrow?

A higher loan amount may come with a higher mortgage rate due to the increased risk for the lender. Figure out how much you can comofortably borrow with our home affordability calculator.

Use our home affordability calculator

How much are property taxes in California counties?

While California does have property tax, the average effective tax rate is actually below the national average. In 2022 the average effective property tax rate in California was 0.71%. Nationally, the average was 0.99%. However, the property tax does vary from county to county, and home prices in California can be a bit higher than most of the country.

According to data from the California state government, property taxes in California counties are below. Keep in mind, that assessed values don’t update often. You may pay a different rate than what we have listed. *

California county map | California mortgage calculator
CountyMedian home range*Average Property Tax Rate**Median Annual Property Tax Cost
Los Angeles$890,7161.25%$11,133.95
San Diego$934,4020.87%$8,129.30
San Bernardino$571,8560.90%$5,146.70
Santa Clara$1,082,1350.85%$9,198.14
Contra Costa$875,1830.95%$8,314.23
San Francisco$1,464,8800.74%$10,840.12
San Joaquin$553,1330.98%$5,420.70
San Mateo$1,582,1690.73%$11,549.83

How much does homeowners insurance cost in California

A variety of factors influence the cost of homeowners insurance in California, just like other states. Whether you live on the coast, in one of the major cities, or in the mountains, there are multiple aspects of your home that impact your homeowners insurance payment.

These factors help insurers assess the risk associated with your home and determine the price you pay for coverage. Here are some key factors that go into determining the cost of homeowners insurance in California:


The location of your home plays a significant role in the cost of insurance. Factors like the neighborhood’s crime rate, proximity to a fire station, and the risk of natural disasters can impact your rates. Natural disasters can include wildfires and earthquakes.

Home’s Value

The replacement cost of your home is a critical factor. The cost to rebuild a damaged or destroyed home factors into the insurance cost. A more valuable home typically means higher insurance premiums.

Construction Materials and Age

The type of materials used to build your home and its age can affect insurance costs. Older homes or those constructed with materials that are more susceptible to damage might have higher premiums.

Home Features

Special features like a swimming pool, trampoline, or home security system can impact your rates. Pools and trampolines are often considered liability risks. However security systems can lead to discounts.

Coverage Limits

The amount of coverage you select, including dwelling coverage, personal property coverage, and liability coverage, influences your premium. Higher coverage limits result in higher premiums.


The deductible is the amount you pay out of pocket before insurance kicks in. A higher deductible typically leads to lower premiums, but it means you’ll pay more if you make a claim.

Claims History

Your claims history can affect your rates. If you’ve made several claims in the past, insurers may view you as a higher risk and charge higher premiums.

Wildfire Risk

In California, the risk of wildfires is a significant consideration. Homes located in high-risk wildfire areas may face higher premiums or coverage limitations.

Earthquake Coverage

If you opt for earthquake insurance, it will add to your homeowners insurance costs. California is prone to earthquakes, so many homeowners choose to add this coverage.

Friends working with our California Mortgage Calculator

How can I start a mortgage application on a home in California?

Do you know that buying a new home in California is the right move for you? Once you’ve calculated your mortgage payment, you can start your journey to your California dream home by getting a mortgage pre-approval.

Getting a pre-approval is a great way to show sellers and real estate agents that you’re a serious buyer. It also gives you an idea of what you’re likely to get approved for.