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Best Mortgage Rates in California — April 2026

Compare current California mortgage rates across loan types. The average home price in California is $793,000 with a property tax rate of 0.71%. Find the best rate for your California home purchase or refinance.

Avg Home Price
$793,000
Property Tax Rate
0.71%
Median Income
$91,905
Population
39.0M

Current California Mortgage Rates

Updated April 2026. Rates shown are averages — your rate depends on credit score, down payment, loan amount, and lender.

Loan TypeRateAPRMonthly P&I*
30-Year Fixed6.84%6.96%$4,151
20-Year Fixed6.61%6.71%$4,769
15-Year Fixed6.14%6.22%$5,400
10-Year Fixed5.94%6.01%$7,023
FHA 30-Year6.44%6.59%$3,983
VA 30-Year6.24%6.34%$3,900

*Monthly payment based on $634,400 loan (20% down on $793,000 avg home price). Does not include taxes or insurance.

Estimated Monthly Payment in California

Full PITI breakdown for a $793,000 home with 20% down at 6.84%:

Principal & Interest$4,151
Property Taxes$469
Homeowners Insurance$231
Total Monthly (PITI)$4,851

California First-Time Homebuyer Programs

CalHFA Dream For All

The California Housing Finance Agency offers programs to help first-time buyers in California achieve homeownership. Benefits typically include:

  • Below-market interest rates for qualifying borrowers
  • Down payment assistance (up to 3-5% of purchase price)
  • Closing cost assistance programs
  • Homebuyer education and counseling
  • Compatible with FHA, VA, USDA, and conventional loans

Income limits, purchase price limits, and credit score requirements apply. Contact the California Housing Finance Agency directly for current program details.

Popular Cities for Homebuying in California

🏠Los Angeles
🏠San Francisco
🏠San Diego
🏠San Jose
🏠Sacramento

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California Mortgage FAQs

What are current mortgage rates in California?+
As of April 2026, average mortgage rates in California are approximately 6.84% for a 30-year fixed, 6.14% for a 15-year fixed, and 6.44% for an FHA 30-year loan. Rates vary based on your credit score, down payment, loan amount, and lender. Use our mortgage calculator to estimate your specific payment.
How much house can I afford in California?+
With the average home price of $793,000 in California and a median household income of $91,905, affordability depends on your debt-to-income ratio, down payment, and current rates. A general rule is your monthly payment (including taxes and insurance) should not exceed 28-33% of gross income. At current rates, a $793,000 home with 20% down would cost approximately $4,851/month.
What is the property tax rate in California?+
The effective property tax rate in California averages 0.71%. On the average home price of $793,000, that's approximately $5,630 per year or $469/month. Property taxes are a significant part of your monthly housing cost and vary by county.
Are there first-time homebuyer programs in California?+
Yes! California offers the CalHFA Dream For All through the California Housing Finance Agency. This program typically provides below-market interest rates, down payment assistance, and closing cost help for qualifying first-time buyers. Income limits and property value caps apply. Contact the California Housing Finance Agency for current program details and eligibility.
Should I get a 15-year or 30-year mortgage in California?+
A 15-year mortgage in California currently offers rates around 6.14% vs 6.84% for 30-year, saving you significantly on interest. On a $634,400 loan, the 30-year payment is $4,151/month while a 15-year is $5,400/month. Choose 15-year if you can afford the higher payment; choose 30-year for more cash flow flexibility.
What credit score do I need to buy a home in California?+
In California, conventional loans typically require a 620+ credit score, FHA loans require 580+ (or 500+ with 10% down), and VA loans have no official minimum but lenders usually want 620+. Higher credit scores get better rates — a score of 760+ qualifies for the best rates in California, potentially saving thousands over the life of the loan. The California Housing Finance Agency programs may have specific credit requirements.

California Mortgage Tools

🏠Mortgage Calculator🔄Refinance Calculator🏡HELOC Calculator📖Mortgage Guide

Mortgage Rates in Neighboring States

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