Can I Afford a $100K Home in California?
Complete mortgage breakdown for a $100,000 home in California, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$718/mo
P&I: $526 + Tax: $59 + Insurance: $133
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $870 | $37,292 |
| 5% | $5,000 | $856 | $36,693 |
| 10% | $10,000 | $821 | $35,196 |
| 20% | $20,000 | $718 | $30,773 |
Monthly Cost Breakdown (California)
Principal & Interest
$526/mo
Property Tax (0.71%)
$59/mo
Homeowners Insurance
$133/mo
Total Interest (30-yr)
$109,195
Affordability Rules of Thumb
28% Rule (Housing)
$30,773/yr
Minimum gross income
36% Rule (All Debt)
$23,935/yr
If no other debt
3Ã Income Rule
$33,333/yr
Conservative target
Buying a $100K Home in California
A $100,000 home in California is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $718 is achievable on a salary of $30,773 or more. California's property tax rate of 0.71% is near the national average.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in California.