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Key Takeaways for California Home Buyers:

Here's what you need to know to get started if you’re looking at buying in the Golden State:

Average Home Prices in California

The median home price for a single-family home in California is $910,160 as of April 2025. 

Average home price:

  • Fresno: $392,447
  • Irvine: $1,615,157
  • Los Angeles: $984,421
  • Sacramento: $492,574
  • San Diego: $1,033,526
  • San Francisco: $1,310,207

Source: zillow.com/home-values

Average Home Size in California

The average size for a single-family home in California is about 2,150 square feet.

Average home size:

  • Fresno: 1,670 square feet
  • Irvine: 1,742 square feet
  • Los Angeles: 1,742 square feet
  • Sacramento: 1,450 square feet
  • San Diego: 1,597 square feet
  • San Francisco: 1,510 square feet

Source: https://fred.stlouisfed.org/

California State Taxes

  • California has a state income tax, with rates ranging from 1% to 13.3%, depending on income levels.
  • The average effective property tax rate in California is approximately 0.71% of a property's assessed value.
  • Due to Proposition 13, property taxes are capped at 1% of a home's assessed value, with annual increases limited to a maximum of 2%, unless there's a change in ownership or new construction.

How Much Can You Afford in California?

Ideal
Monthly Payment:
$750.00

affordability graph legend
$750.00
$1050
$1350

Mortgage Questions?
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By submitting this form, I/we agree to your Privacy Policy, Email and Mobile Policy, Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive SMS text messages sent by an automatic telephone dialing system. Message and data rates may apply. Message frequency may vary. Text the word HELP to 615-488-4941 for more information. You can opt out by responding STOP at any time. For more information, read our Privacy Policy, Mobile Policyand Terms & Conditions. Consent to these terms is not a condition of purchase.

Your answer will NOT negatively affect your mortgage application. Your answer does not mean the Lender or Other Loan Participants agree to communicate or provide documents to you in your preferred language. However, it may let them assist you or direct you to persons who can assist you. Language assistance and resources may be available through housing counseling agencies approved by the U.S. Department of Housing and Urban Development. To find a housing counseling agency, contact one of the following Federal government agencies. U.S. Department of Housing and Urban Development (HUD) at (800)569-4287 or www.hud.gov/counseling

Es probable que su transacción de préstamo hipotecario suceda en inglés. Por medio de esta pregunta, solicitamos información para determinar si existen comunicaciones disponibles a su servicio, en su idioma preferido. Sírvase tener en cuenta: posiblemente NO hay comunicaciones disponibles en su idioma preferido.

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California Down Payment Assistance Programs

CalHFA Conventional Program

The CalHFA Conventional is a 30-year, fixed-rate loan designed for first-time California home buyers. It's insured with private mortgage insurance and available through CalHFA-approved lenders.

purchase-g-radio
More about this program
  • Primary residence only — must occupy the home within 60 days of closing
  • Home buyer education required (online or in-person)
  • Income and purchase price limits apply
  • DTI limits: up to 50% with FICO 700+, up to 45% below 700
  • Temporary buydowns (2/1, 1/1, 1/0) allowed — must be funded by seller, builder, or lender (not borrower)
  • Eligible properties include single-family homes, condos, and some manufactured homes

CalHFA FHA Program

The CalHFA FHA Program is a 30-year, fixed-rate mortgage backed by the FHA. It’s designed to help first-time home buyers in California get into their first home with added support.

purchase-g-radio
More about this program
  • Must be a primary residence (no non-occupant co-borrowers)
  • Home buyer education required (only one borrower must complete)
  • Minimum credit score: 640
  • DTI limits: up to 50% with FICO 700+, 45% below 700
  • Must meet CalHFA income limits
  • Eligible property types: single-family homes, condos, manufactured homes, guest units, in-law suites (must meet FHA and CalHFA guidelines)

National Homebuyers Fund FHA Program

This down payment assistance program helps buyers get into a home with little to no upfront cost, offering up to 101.5% financing through an FHA first mortgage and a second lien.

purchase-g-radio
More about this program
  • FHA loan covers 96.5% of the purchase price
  • Second lien covers 3.5% or 5% for down payment or closing costs
  • Minimum credit score: 600 (660 for manual underwriting)
  • No first-time buyer requirement
  • No max DTI with DU/LP approval
  • Homebuyer education required (Fannie Mae HomeView – free online)
  • Non-occupant co-borrowers allowed
  • Eligible properties: Single-family homes, duplexes (2 units), PUDs, condos (agency approved), townhomes, manufactured homes allowed (except single-wides)

National Community Lending Program

This program supports low- to moderate-income buyers with down payment assistance and flexible financing to make homeownership more accessible.

purchase-g-radio
More about this program
  • 30-year fixed-rate conventional mortgage
  • Second lien offers up to 4% for down payment assistance
  • Max LTV/CLTV: 97% / 105%
  • Income limit: Up to 140% of area median income (AMI)
  • Minimum credit score: 660
  • DTI: Lesser of 50% or AUS approval
  • Eligible properties: Single-family detached or attached homes, single-family homes with accessory units (must be zoned single-family), PUDs and condominiums, rural properties (must be residential in nature)

Churchill Mortgage is an approved lender for these down payment assistance programs. Contact us today to see if you qualify!

Frequently Asked Questions

Check our FAQs for responses to our most popular questions from California Home Buyers.

Cash 1
How Much Should I Budget for Closing Costs in California?

Closing costs in California typically range from 2% to 5% of your home’s purchase price. For example, on a $700,000 home, you might pay between $14,000 and $35,000 in total closing costs.

Buyers usually cover most of the closing costs in California, but it’s not uncommon to negotiate for seller concessions to help offset them—especially in a buyer's market.

You will receive your closing costs from your Home Loan Specialist in a Loan Estimate that you will receive after you apply for your home loan and in the Closing Disclosure document that is provided before your official closing day.

Bank
What Are the Most Popular Home Loan Types in California?

The most common loan types in California include:

  • Conventional loans – Great for buyers with strong credit, especially in competitive markets.

  • FHA loans – Popular with first-time buyers thanks to low down payment options.

  • VA loans – Offer zero down for eligible veterans and service members.

  • Jumbo loans – Used in high-cost areas like San Francisco and Irvine for homes above $766,550.

  • CalHFA loans – State-backed programs with down payment help for qualifying buyers.

At Churchill Mortgage, we provide these loan programs as well as more niche programs. Reach out today to see what loan option works best for your situation.

Collaboration
How Can I Find a Trusted Local California Realtor to Work With?

Churchill Mortgage's experienced Home Loan Specialists work closely with a network of trusted, local real estate agents across the state of California. Just ask for a referral and we'll provide you with a professional who is committed to finding the right home for you.

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How Do Schools Rank in California?

California’s school quality varies widely, but several cities consistently rank among the best for public education. According to 2025 data from Niche, here are the top 5 cities and districts with highly rated schools:

  • Palo Alto – Home to the top-ranked Palo Alto Unified School District, known for academic excellence and strong college prep.

  • Mountain View – Offers top-tier public high schools with standout STEM programs.

  • South Pasadena – Highly rated for both academics and student support.

  • Arcadia – Known for strong performance across elementary, middle, and high schools.

  • Pleasanton – Offers well-rounded education and high graduation rates.

For detailed school ratings, graduation rates, and test scores, check the California School Dashboard.

Reviews from California Home Buyers

★ ★ ★ ★ ★

"David helped us through two refinances and a house purchase in California. He has always been professional, knowledgeable, and a complete joy to work with. I always recommend David and Churchill to my friends and family."

Scott J.
Newark, CA
★ ★ ★ ★ ★

"I decided to move to California from Texas to be with my family. My first call was to Churchill Mortgage to get the process started."

Tillie V.
Fresno, CA
★ ★ ★ ★ ★

"Steve was incredibly helpful the whole way through the process. He helped us understand every step of the way and made it so easy on us. Would highly recommend him to anyone looking to purchase a home or refinance."

Abigail N.
Vista, CA

4.9 / 5

gold star gold star gold star gold star gold star

Top Rated Loan Advisors Across the U.S.

Served over 100,000+ happy homeowners!

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California Branch Locations

Turlock, CA

209-921-3334

Visit the Branch Website

330 E Main Street, Turlock, California

Roseville, CA

916-765-6457

Visit the Branch Website

1013 Galleria Blvd, Ste 280 Roseville, CA

Orange, CA

714-396-1527

Visit the Branch Website

Orange County, CA

Claremont, CA

909-525-5883

Visit the Branch Website

Claremont, CA

Irvine, CA

949-377-2040

Visit the Branch Website

2 Executive Circle, Suite 150 Irvine, CA

Churchill Loan Officers in California

Conforming and high balance allowed. Cooperative housing not eligible. Not all applicants will qualify. Not a commitment to lend. Other restriction or limitations to any program may apply.

This calculator is being provided for educational purposes only. The provided values for interest rates are examples only and do not reflect Churchill Mortgage Product terms & offers. The results are estimates that are based on information you provided and may not reflect Churchill Mortgage Product terms. The information cannot be used by Churchill Mortgage to determine a customer's eligibility for a specific product or service. All financial calculators are provided by a third-party and are not controlled by or under the control of Churchill Mortgage. Churchill Mortgage is not responsible for the content, results, or the accuracy of information.

These calculations are hypothetical examples designed to for illustration purposes only. Consult a Home Loan Specialist for more specific information regarding payments, terms, etc.

Sources:
https://www.attomdata.com/data/us-real-estate/wa/

As a responsible lender, Churchill Mortgage is committed to the principles outlined in federal and state lending laws ensuring all potential borrowers have access to the same information, services, and opportunities throughout the home loan process.