Mortgage Rates in San Jose, California — March 2026
Updated March 2026 | Based on San Jose market data and regional lending conditions
San Jose is a major metropolitan area in California with a population of 1,013,240. The current 30-year fixed mortgage rate in San Jose is 6.55%, which is 0.1% below the national average. With a median home price of $1,350,000 and a 20% down payment of $270,000, homebuyers can expect a monthly principal and interest payment of approximately $6,862.
Current Mortgage Rates in San Jose, CA
Below are the current average mortgage rates available in the San Jose area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.55% | 6.65% | -0.1% |
| 15-Year Fixed | 5.79% | 5.89% | -0.1% |
| 5/1 ARM | 6.05% | 6.15% | -0.1% |
| FHA | 6.15% | 6.25% | -0.1% |
| VA | 5.95% | 6.05% | -0.1% |
| Jumbo | 6.75% | 6.85% | -0.1% |
San Jose Housing Market Overview
The San Jose housing market is competitive with prices well above the national median. The median household income in San Jose is $117,324, and the cost of living index is 214.1 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $330,729 to comfortably afford the median-priced home in San Jose, which exceeds the current median household income.
Monthly Payment Breakdown for San Jose
Based on the median home price of $1,350,000 with 20% down ($270,000), here is what you can expect to pay monthly in San Jose:
15-Year vs. 30-Year Mortgage in San Jose
Choosing a 15-year mortgage in San Jose at 5.79% instead of a 30-year at 6.55% would save you $851,760 in total interest over the life of the loan. However, your monthly payment would be $8,992 instead of $6,862 — an increase of $2,130 per month.
Calculate Your San Jose Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in San Jose
What are the current mortgage rates in San Jose, CA?
As of March 2026, the average 30-year fixed mortgage rate in San Jose, California is 6.55%, while the 15-year fixed rate is 5.79%. FHA loans average 6.15% and VA loans 5.95%. These rates are 0.1% below the national average of 6.65%.
How much is a monthly mortgage payment in San Jose?
Based on the median home price of $1,350,000 with 20% down, the estimated monthly mortgage payment in San Jose is $6,862 for principal and interest. Including property taxes of $855/month, the total monthly housing cost is approximately $7,717.
What income do I need to buy a home in San Jose?
Using the 28% rule, you would need an annual income of approximately $330,729 to afford the median-priced home in San Jose at $1,350,000. The median household income in San Jose is $117,324. This means most households would need to either earn above the median or consider homes below $1,350,000.
Is San Jose a good place to buy a home in 2026?
San Jose has a higher cost of living than average with a cost of living index of 214.1 (national average = 100). The property tax rate in California is 0.76%, which is below the national average. As a major city with 1,013,240 residents, San Jose offers diverse employment opportunities and amenities.
Mortgage Rates in Other California Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the San Jose, California area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.