San Diego Mortgage Calculator

How to use this calculator

This mortgage calculator is built specifically for San Diego homebuyers. It includes local factors that generic calculators miss — like Mello-Roos taxes (common in newer San Diego developments like Otay Ranch, Pacific Highlands Ranch, and parts of Carlsbad) and San Diego's effective property tax rate of approximately 1.25%.

Understanding each input

Home price

The purchase price of the home. In San Diego, the median home price is approximately $1 million, but first-time buyers frequently purchase condos and townhomes in the $400,000-$700,000 range, especially with FHA loans (which cover up to $1,077,550 in San Diego).

Down payment

The amount you pay upfront. This can be as low as 3% for conventional loans, 3.5% for FHA loans, or 0% for VA loans. If you put less than 20% down on a conventional loan, you'll pay private mortgage insurance (PMI).

Many San Diego buyers use down payment assistance programs to cover part or all of their down payment. Programs like SDHC can provide up to 22% of the purchase price.

Interest rate

Your mortgage interest rate depends on your credit score, loan type, down payment, and market conditions. This calculator defaults to 6.75%, but your actual rate may differ. Contact a local mortgage professional for current rates based on your situation.

Property tax

San Diego's effective property tax rate averages about 1.25%, which includes the base Proposition 13 rate of 1% plus voter-approved bonds and assessments. Your actual rate depends on your specific property and location.

Mello-Roos

Mello-Roos is a special tax district assessment common in newer San Diego developments. It funds infrastructure like roads, schools, and parks in newer communities. It can add $1,000 to $5,000+ per year to your housing costs. Older, established neighborhoods typically have no Mello-Roos. Read our Mello-Roos guide for details.

PMI / MIP

Private Mortgage Insurance (PMI) is required on conventional loans with less than 20% down. It typically costs 0.3-1.5% of the loan amount annually. FHA loans have their own version called Mortgage Insurance Premium (MIP), which includes an upfront premium of 1.75% plus an annual premium of 0.55%.

What this calculator doesn't include

This calculator provides estimates for planning purposes. It does not include maintenance costs (budget 1-2% of home value per year), utility costs, potential special assessments, or flood/earthquake insurance. Your actual closing costs are also separate — use our closing cost estimator for those.