Massachusetts mortgage payment calculator

All-in cost first, always. Estimate only — not a loan quote or pre-approval.

Not your state? Find your calculator here.

Rate via FRED

Not sure what you can afford?

Tell us your income and savings instead, and we'll work out the max home price and a qualification signal for Massachusetts.

How much house can I afford in Massachusetts? →

Not sure where to start?

Massachusetts at a glance

Median home price
$690,000
Typical closing costs
2%–5% of price
Transfer tax
0.456% of sale price, customarily paid by seller
Closing custom
attorney
Homestead exemption
Massachusetts has no broad, automatic, statewide ad-valorem homestead property tax exemption like FL or LA. Instead, under M.G.L. c. 59, § 5C, individual cities and towns may OPTIONALLY adopt a local 'residential exemption' that shifts a larger share of the tax burden from owner-occupied homes to non-owner-occupied and commercial property; most Massachusetts municipalities have not adopted it, but several major cities have, including Boston (saved qualifying homeowners up to $4,353.74 in the most recent fiscal year measured), Cambridge, and Somerville. Where adopted, owners must occupy the property as their primary residence as of January 1 and file an application by the town's deadline (e.g. April 1 for the following fiscal year in Boston); only one property per owner qualifies. Separately, Massachusetts's 'Declaration of Homestead' (M.G.L. c. 188) is an unrelated creditor-protection filing, not a property tax benefit, and is not reflected in this field.

First-time buyer / down payment assistance programs

  • MassHousing Mortgage

    MassHousing (the state's affordable-housing finance agency) offers 30-year fixed-rate first mortgages (conventional and FHA) through 80+ participating lenders statewide, with more flexible income and credit requirements than typical conventional loans; can be paired with MassHousing's own down payment assistance. A 'Purchase and Renovation' variant finances a purchase and renovation costs in a single loan. Minimum credit scores generally range 640-700 depending on loan type, property type, and loan-to-value ratio.

  • MassHousing Down Payment Assistance (DPA)

    Up to $30,000 in down payment assistance, structured as a second loan and available statewide, paired with a MassHousing first mortgage. Three repayment structures: (1) 0%-interest deferred loan up to $30,000, repaid at sale/refinance/payoff; (2) 15-year amortizing loan at 2% APR, max $25,000; (3) 15-year amortizing loan at 3% APR, max $25,000.

Continue calculating

Affordability calculator

Income, savings, and debts in — max home price and qualification signal out.

PMI removal calculator

When your PMI is scheduled to end, by law and by request.

Mortgage points calculator

Should you buy down your rate? Break-even and lifetime cost comparison.

Related reading

Closing Costs in Massachusetts: What You'll Actually Pay

8 min read

Massachusetts' deed excise tax is customarily the seller's bill, but a 2-5% buyer range on the $690,000 median still means $13,800 to $34,500 at closing.

What Is PMI, and How Do You Get Rid of It?

15 min read

Private mortgage insurance explained in plain English — what it costs, why it exists, the exact federal rules for cancelling it, and how to work out the month your PMI is scheduled to end.

Guides & templates

Buying a Home With Someone Else

$4.99

The operational guide to buying property with a partner, friend, sibling, or parent — credit and DTI mechanics, title vesting, a clause-by-clause co-ownership agreement, and how the exit actually works.

The First-Time Buyer's Playbook: 12 Months to Closing Day

$4.99

A month-by-month plan for the year before you buy: what to do in each phase, what never to touch, how to document every dollar, and how to survive closing day.