Can I Afford a $800K Home in California?
Complete mortgage breakdown for a $800,000 home in California, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$4,811/mo
P&I: $4,204 + Tax: $473 + Insurance: $133
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $24,000 | $6,028 | $258,333 |
| 5% | $40,000 | $5,916 | $253,543 |
| 10% | $80,000 | $5,637 | $241,567 |
| 20% | $160,000 | $4,811 | $206,186 |
Monthly Cost Breakdown (California)
Principal & Interest
$4,204/mo
Property Tax (0.71%)
$473/mo
Homeowners Insurance
$133/mo
Total Interest (30-yr)
$873,564
Affordability Rules of Thumb
28% Rule (Housing)
$206,186/yr
Minimum gross income
36% Rule (All Debt)
$160,367/yr
If no other debt
3Ã Income Rule
$266,667/yr
Conservative target
Buying a $800K Home in California
A $800,000 home in California is in the upper range of the market. With a $160,000 down payment, your monthly costs of $4,811 require a substantial household income of $206,186. Over 30 years, you'll pay $873,564 in interest alone.
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.