California First-Time Homebuyer Calculator
First-time homebuyer costs in California: $27,475 FHA down payment, $15,700 closing costs, 0.76% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for California. Includes down payment, closing costs (2%), PMI (required below 20% down), property tax (0.76%), and homeowners insurance ($1,950/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
California homebuyer facts: Median price $785,000 | 20% down = $157,000 | FHA 3.5% down = $27,475 | Closing costs ~$15,700 | Property tax 0.76% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in California?
For California's median home ($785,000): FHA minimum down payment is $27,475 (3.5%), plus $15,700 in closing costs. Total minimum: ~$43,175. With 20% down to avoid PMI: ~$172,700.
What are closing costs in California?
California closing costs average 2% of the home price, or about $15,700 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0.11%.
Related Calculators
More First-Time Homebuyer Calculators
More Calculators for California
Explore related financial tools with California data