Average Mortgage Payment In California

Every month thousands and thousands of Californian’s look for a new home to buy or refinance their current mortgage. Some mortgage loans amounts are high and some mortgage loan amounts are below $100,000.00 but not matter what size the loan amount is; everyone wants a great low mortgage rate. Lower the rate, the lower the mortgage payment and every Californian can agree that lower is better when it comes to a mortgage payment.

mortgageIs there an average mortgage payment in California? The simple answer is yes but the reality is that it’s too difficult to figure out. Why? Reason is that there are millions and millions of mortgages in the State of California and thousands upon thousands of banks hold those mortgages. So to calculate the average mortgage payment in California you would have to have all that information do so some serious math to find the average. A low California home loan rate helps with getting that payment as low as possible and if we wanted we could figure out some averages based on loan amounts for the most popular mortgages (which are 30 year fixed rate mortgages and 15 year fixed rate mortgages). This way you can have a general idea of average mortgage payment in California based on various loan amounts.  Below are some general/information numbers to review; keep in mind that mortgage rates change daily and if you have any questions about other mortgage loan amounts just let us know.

30 Year Fixed: $200,000.00    $400,000.00
4.00%                $954.83             $1,909.66
3.50%                $898.09             $1,796.18

15 Year Fixed: $200,000.00     $400,000.00
3.50%               $1,429.77            $2,859.53
3.00%               $1,381.16            $2,762.33

The above is just for information purposes and is not a quote (rates may be different) but will give you an idea of the average California mortgage payment at those levels.  If you would like a no cost/no obligation quote from a top rated company; please contact us today at 1-800-550-5538. We offer a wide variety of loan programs including both fixed rate mortgages and adjustable rates mortgages. And we also of zero fee mortgages (true zero fee mortgages) to those that qualify.  We have a top rating the Better Business Bureau which means we provide a high level of customer service.