If so, you are in the right place! Get started by entering your personal confirmation number below.
Received an offer from us?
If so, you are in the right place! Get started by entering your personal confirmation number below.
Leaving SoFi Website
You are now leaving the SoFi website and entering a third-party website. SoFi has no control over the content, products or services offered nor the security or privacy of information transmitted to others via their website. We recommend that you review the privacy policy of the site you are entering. SoFi does not guarantee or endorse the products, information or recommendations provided in any third party website.
When considering a home purchase in Anaheim, a mortgage calculator is a supremely helpful tool. You can quickly estimate your monthly mortgage payment, and see the total interest you would pay and the overall cost of the mortgage. This is especially useful if you are buying your first home and need to carefully plan your budget. This article will guide you through how to use this tool effectively, ensuring you make informed decisions about your home purchase.
Key Points
• An Anaheim mortgage calculator helps estimate monthly payments, total interest, and overall loan cost, providing a clearer financial picture for homebuyers.
• A 15-year mortgage term can help buyers build equity faster and will cost less in interest, but it comes with higher monthly payments compared to a 30-year term.
• Improving your credit score can help you secure a lower interest rate, reducing monthly payments and total interest paid.
• Anaheim home prices are significantly higher than the U.S. average.
• Down payment assistance programs can significantly reduce the initial financial burden for some first-time homebuyers and those with limited savings in Anaheim.
Anaheim Mortgage Calculator
Calculator Definitions
• Home price: The home price is the purchase price you have agreed to with the home seller, which may differ from the listing price or your initial offer. This figure is needed to determine the amount of your home loan.
• Down payment: The down payment is what amount you would pay upfront. Most buyers put down between 3% and 20% of the purchase price. It takes a 20% down payment to avoid paying for private mortgage insurance (PMI). A jumbo loan usually requires a minimum 10% down.
• Loan term: The loan term is the length of time you have to repay the mortgage, from 10 to 30 years. A shorter term can help build equity faster and requires you to pay less interest overall, while a 30-year term offers lower monthly payments but costs more in the long run.
• Interest rate: The interest rate is the cost of borrowing money, expressed as a percentage of the loan amount. Interest rates can vary based on your credit history, market trends, and the type of mortgage loan you choose.
• Annual property tax: The effective property tax rate in Orange County, where Anaheim is located, is .6659%.
• Total monthly payment: The total monthly mortgage payment includes the principal loan amount and the interest accrued. Other additional costs, such as property tax, can also be factored into the total expense.
How to Use the Anaheim Mortgage Calculator
Step 1: Enter Your Home Price.
This figure is an important one for the mortgage calculator, as it determines the size of the home loan you will need.
Step 2: Select a Down Payment Amount.
The down payment represents the portion of the home price that you agree to pay upfront. A down payment calculator can show you what’s needed to reach the 20% payment necessary to avoid PMI.
Step 3: Choose a Loan Term.
The loan term is the length of time you have to repay the loan, typically 15 or 30 years. A 30-year term offers lower monthly payments, while a 15-year term can save you a significant amount in interest over the life of the loan.
Step 4: Enter an Interest Rate.
Enter your hoped-for interest rate to the second or third decimal point, such as 6.74%.
Step 5: Enter the Home’s Property Tax Rate
Enter the percentage of your property’s market value that’s used to compute property tax. For the specific percentage in your area, search online for the property’s town or ZIP code and “effective property tax rate.”
Benefits of Using a Mortgage Payment Calculator
A mortgage calculator helps prospective homebuyers determine affordability by estimating monthly payments based on loan amount, interest rate, and loan term. This calculator also factors in property taxes in Anaheim.
When buying your first home, it can be especially helpful to see how different down payment amounts and loan terms might affect your costs, both monthly and over the long haul. Using a free home mortgage payment calculator helps to ensure you go through the process of getting a home loan with maximum information and confidence.
Deciding How Much House You Can Afford in Anaheim
Anaheim’s median home sale price in late 2025 was $899,000, according to Redfin. Let’s use the mortgage calculator to see how you could budget for a home purchase using this amount. If you put down 20% and got a 30-year loan with an interest rate of 6.50%, your monthly payment on the median-priced Anaheim home would be $5,045. This includes property taxes at the Anaheim rate.
Lenders advise keeping housing costs below 28% of gross monthly income. To afford a $5,045 loan payment and still be within 28%, you would need to earn at least $220,000 per year. This assumes you don’t have other debts. If you do, you would need to earn more.
There are two other ways to decide how much home you can afford in Anaheim. You can input your annual income and information about recurring debts (such as a student loan or car payment) into a home affordability calculator, which will quickly provide an estimated home-shopping budget. Or you can go through the mortgage preapproval process, submitting your info to a lender. If you are preapproved for a mortgage, you’ll learn how much and on what terms you can borrow.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Components of a Mortgage Payment
The main components of a mortgage payment are the principal and interest. Additionally, your monthly payment may cover property tax, as shown in this calculator. Some lenders also like you to pay for your homeowners insurance as part of your monthly payment. (After all, your home is the collateral for the loan, so it is in your lender’s interest to make sure your taxes and insurance premiums are paid on time.) When your down payment requires that you purchase PMI, the cost of that will be added to your monthly payment as well. And some lenders even let you pay your homeowners association (HOA) dues through the mortgage servicer as well.
If you’re thinking about getting a home loan guaranteed by the Federal Housing Administration (FHA), try using an FHA mortgage calculator, which factors in both the loan’s upfront and ongoing mortgage insurance premiums.
A VA mortgage calculator will be useful if you’re looking at a loan backed by the U.S. Department of Veterans Affairs.
Cost of Living in Anaheim
You won’t find this Orange County city, home to Disneyland, on any list of the best affordable places in the U.S. Anaheim has a high cost of living, about 56% above the average cost of living in the U.S. Housing is a major expense for residents here; as noted, the median sale price for a home here is nearing $900,000. A living hourly wage for a family with two adults working full time and two children is $53.55, according to MIT’s Living Wage Institute. As you consider purchasing a home in Anaheim, a mortgage calculator can help you determine how your housing costs fit into your larger household budget. Take a look at how the cost of living breaks down in Anaheim.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
If you’re buying your first home in Anaheim, there are several down payment assistance programs available to help qualified buyers cover front-end costs, including their down payment. Some programs provide a loan or grant for closing costs. To qualify as a first-time homebuyer, you typically must not have owned a primary residence within the past three years.
The California Housing Finance Agency is the primary program provider, offering below-market-interest-rate loans and down payment help for eligible low- and middle-income buyers. Consult a guide to first-time home-buying programs in California for advice.
It is possible to reduce your monthly payment even after you settle into your new home. Here are some options:
• Once you have 20% equity in your home, you can request that your lender cancel PMI. Equity can change with home appreciation, so keep an eye on your home’s estimated value.
• If you receive a bonus or other windfall, mortgage recasting can be a smart move. You would make a lump-sum payment toward your mortgage principal and ask your lender to re-amortize the loan based on the new, smaller principal balance.
• Consider a mortgage refinance if interest rates have dropped significantly or your credit score has risen substantially.
• If you believe your annual property tax is too high, you can appeal your assessment. Start by researching recent comparable property assessments in your area.
• Financial hardships can make it difficult to manage your mortgage payments. If you face this, you can ask your lender to modify your loan to make it more affordable and help avoid foreclosure.
• To reduce your monthly mortgage payment, consider shopping for a lower homeowners insurance rate. You can increase your deductible, bundle your homeowners insurance with auto insurance, or make upgrades that enhance your home’s security or storm resistance.
The Takeaway
Using an Anaheim mortgage calculator is a key step in understanding the costs of homeownership. You’ll easily estimate monthly payments and total interest paid, and see the overall cost of a home loan. You’ll soon be on your way to a new home and bright financial future in Anaheim.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
The median monthly mortgage payment in Anaheim’s Orange county in the first quarter of 2025 was $6,310, according to the National Association of Realtors®. But as a mortgage calculator shows, the average payment can rise or fall based on several factors, including the price of the home, the prevailing interest rate, and the term length of the loan.
What income do you need for an $800,000 mortgage with a 6.50% interest rate?
You would need an income of around $240,000 to $300,000 to afford an $800,000 mortgage with a 6.50% interest rate. The exact amount will depend on whether you have any other debts in addition to the mortgage. When in doubt, a home affordability calculator is a good tool to use. You’ll input information about your income and debts to find a home price you can afford.
Should I choose a 30-year or 15-year mortgage term?
A 30-year term means lower monthly payments, making homeownership more accessible. A 15-year term could save you thousands of dollars in interest but will require a higher monthly payment. If you can make a 15-year or 20-year term work with your budget, go for it. But particularly if this is your first home purchase, don’t feel bad about locking in 30 years. It’s the most popular loan term among U.S. homebuyers.
How can I get a lower mortgage interest rate?
For a lower mortgage interest rate, improve your credit score, as lenders often offer better rates to borrowers with scores over 700. Shop around to compare lenders’ interest rate offers. Prepaying mortgage points, which are upfront fees paid to the lender, can also lower your interest rate. Look carefully at adjustable-rate vs. fixed-rate loan offers to determine whether going with an adjustable rate might provide a lower introductory rate without too much risk of rates rising later on.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
SOHL-Q425-050
