Mortgage Calculator — Massachusetts
Pre-filled with Massachusetts's average home price of $565000, property tax rate of 1.1%, and average insurance of $1700/year. Adjust any value below.
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Massachusetts Housing Market
Massachusetts has some of the highest home prices in the nation, driven by Boston's world-class education and healthcare economy. The Greater Boston metro consistently ranks among the top 5 most expensive US housing markets.
Affordability in Massachusetts
Boston metro buyers typically need household incomes of $150,000+ to comfortably afford a median-priced home. Western Massachusetts — Springfield, Pittsfield — offers dramatically more affordable options for remote workers.
Key Markets
First-Time Buyer Programs in Massachusetts
MassHousing Mortgage
Fixed-rate loan with low down payment options and MI Plus mortgage insurance, which covers payments if you lose your job.
MassHousing Down Payment Assistance
Deferred second loan toward down payment and closing costs, repaid when the home is sold or refinanced.
ONE Mortgage (MHP)
Low-down-payment 30-year fixed loan with a state subsidy that lowers monthly payments for income-eligible first-time buyers.
Programs are run by the MassHousing. Income limits, price limits and assistance amounts change often — confirm current terms with the agency or an approved lender.
Property Tax in Massachusetts
Proposition 2½ limits how much a town's total levy can grow each year. Rates vary widely by town, and some towns offer a residential exemption for owner-occupants. At Massachusetts's average effective rate of 1.1%, a $565,000 home pays roughly $6,220/year (about $518/month).
Massachusetts Conforming Loan Limit
Many Boston-area counties are designated high-cost, with limits above the 2026 national baseline of $832,750. Check the county limit before choosing a jumbo loan.
Closing Costs in Massachusetts
The Massachusetts deed excise tax is $4.56 per $1,000 (about 0.46%), paid by the seller. Buyers pay attorney fees, lender's title insurance and recording, and closing costs often total 2%–5% of the price.
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