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Buying a home

Data from November 2026

Buying a home in California

A typical home in California is worth $734,700 (Average 2020–2024). The FHA limit for one unit is $541,287–$1,249,125 depending on the county. Here is the minimum down payment each loan type asks at that price, every county’s limit, and the state’s assistance programs.

Minimum down payment Limits by county
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Typical home
$734,700
median value, Average 2020–2024
121% more than the U.S.
FHA limit
$541,287–$1,249,125
one unit, by county
In 30 of the 58 counties, the limit is above the national floor ($541,287).
Conforming limit
$832,750
up to $1,249,125 in high-cost areas
Above this amount, the loan is a “jumbo” loan.
Minimum FHA down payment
$25,715
3.5% of a $734,700 home
VA and USDA ask for no down payment if you qualify.

Source: American Community Survey (ACS) 5-year estimates Average 2020–2024 American Community Survey (ACS) 5-year estimates Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD) Source: Conforming loan limits (FHFA) Data from 2026 data Conforming loan limits (FHFA)

Down payment

How much each loan asks up front

For a $734,700 home, the typical value in California. The minimum down payment is each program’s rule. The monthly figure is an example of principal and interest over 30 years at the 7.18% average rate (November 5, 2026): no taxes, insurance or mortgage insurance.

Your price, rate and down payment will differ: run the calculator with your numbers. Closing costs are extra.

Minimum down payment and monthly payment for a $734,700 home in California

  1. FHA Program rule

    Minimum down3.5%

    In dollars$25,715

    Per month$4,803

    With a credit score of 580 or more. Carries mortgage insurance (MIP) up front and every month.

    HUD Handbook 4000.1 (Update 18), II.A.2.a.iv — Minimum Required Investment · In effect since September 14, 2016

  2. Conventional Program rule

    Minimum down3%

    In dollars$22,041

    Per month$4,828

    3% is the lowest standard option. With less than 20% down you pay private mortgage insurance (PMI) until you have more equity.

    Fannie Mae Selling Guide B5-6-01 — HomeReady Mortgage Loan and Borrower Eligibility · In effect since January 1, 2024

  3. VA Program rule

    Minimum down0%

    In dollars$0

    Per month$4,977

    For veterans, service members and some spouses. No down payment as long as the price is not above the appraisal; charges a one-time funding fee.

    VA: Purchase loan — benefits · In effect since January 1, 2020

  4. USDA Program rule

    Minimum down0%

    In dollars$0

    Per month$4,977

    Only homes in eligible rural areas and households within USDA’s income limit. Finances the full price.

    7 CFR §3555.103 — Maximum loan amount (Guaranteed Rural Housing Program) · In effect since December 9, 2013

  5. ITIN or other Example, not a rule

    Minimum down15%

    In dollars$110,205

    Per month$4,231

    ITIN loans follow no federal rule: each lender sets its own down payment and rate, and usually asks for more. 15% is an example.

Loan limits

FHA and conforming limit in every county

FHA sets the limit by area: 30 of the 58 counties in California are high-cost and sit above the national floor ($541,287). The conforming limit is the most Fannie Mae and Freddie Mac will buy; above it, the loan is a “jumbo”.

One unit. For 2- to 4-unit homes, each county page has the full table. Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD)

Down payment help

California programs for buyers

5 verified programs that put money toward the down payment or closing costs, or give a tax credit. With the source wording and the date we checked it.

Some help is a grant you never repay; other help is a second loan that is forgiven over the years or repaid when you sell. Each program’s tag says which kind it is.

See all 5 programs

  • MyHome Assistance Program

    Verified November 5, 2026

    CalHFA second loan with deferred payments for the down payment or closing costs of first-time buyers in California

    • Deferred
    See details

  • California Dream For All Shared Appreciation Loan

    Closed, per the source

    Verified November 5, 2026

    CalHFA down payment loan for first-generation buyers in California; when you sell, you repay the loan plus a share of the home's appreciation

    • Shared appreciation
    See details

  • MyAccess Program

    Verified November 5, 2026

    CalHFA second loan with deferred payments for the down payment or closing costs of first-time buyers who use the CalPLUS Access mortgage (FHA or conventional)

    • Deferred
    See details

What the state publishes

California rules that change the math

Exemptions that lower property tax and taxes paid when the deed is recorded, summarized from the official page each one cites.

Property tax in California

Exemptions and caps

  • Homeowners' exemption

    Takes up to $7,000 off your home's taxable value if you live in it as your principal residence on January 1. You claim it once, and it stays in effect while the owner and the occupancy do not change.

    California State Board of Equalization (BOE) · Verified October 15, 2026

When the sale is recorded

  • County documentary transfer tax

    Sacramento County explains that the documentary transfer tax is 55 cents for each $500 (or fraction) of the property's value, not counting loans the buyer assumes. A city may also create its own transfer tax, which it collects separately. The buyer or the seller pays it, as they agree.

    Cal. Rev. & Tax. Code §11911 · Sacramento County Clerk/Recorder · Verified October 16, 2026

Your next steps

Where to go next in California

What you can do today, free and without giving personal information. Go in order: your numbers first, then the help.

  1. Run the numbers with your figures

    The California calculator already has the typical value, the average rate and the state’s property tax.

  2. Check whether you qualify for help

    Each program says what it gives, who qualifies and when we checked it.

  3. Talk to a counselor for free

    81 HUD-approved agencies help you prepare to buy; 57 say they serve in Spanish.

  4. Follow the steps to buy a home

    From the budget to the keys, in order.

Frequently asked questions

How much down payment do I need for a typical home in California?

For a $734,700 home (typical value, Average 2020–2024), the FHA minimum (3.5%) is $25,715 and the conventional minimum (3%) is $22,041. VA and USDA ask no down payment if you qualify. State programs can cover part of it.

Are there high-cost counties in California?

Yes. In 2026 data, 30 of the 58 counties in California have an FHA limit above the national floor ($541,287); the highest is San Mateo County ($1,249,125).

What is the conforming loan limit in California?

In 2026 data, the conforming limit for one unit runs from $832,750 to $1,249,125 depending on the county in California: the most Fannie Mae and Freddie Mac will buy. Above it, the loan is a “jumbo” and each lender sets its own terms.

What would the monthly payment be on a typical home in California?

With $734,700, the FHA minimum down payment ($25,715) and the 7.18% average rate (November 5, 2026), principal and interest over 30 years comes to about $4,803 a month. Tax, insurance and mortgage insurance are missing: the calculator adds them.

What down payment help is there in California?

We have verified 5 state programs in California that put money toward the down payment or closing costs, or give a tax credit. Each shows the source wording, who qualifies and the date we checked it.