Massachusetts Mortgage Calculator
Estimate your monthly mortgage payment in Massachusetts. On the state's median home value of $580,000, with a 20% down payment at today's rates, expect a total monthly payment (principal, interest, taxes, and insurance) around $3,652. Adjust every input for your situation.
Monthly Breakdown
- Principal & Interest$2,933
- Property Tax$595
- Home Insurance$125
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $35,194 | $5,186 | $30,007 | $458,814 |
| 2 | $35,194 | $5,534 | $29,660 | $453,280 |
| 3 | $35,194 | $5,904 | $29,289 | $447,376 |
| 4 | $35,194 | $6,300 | $28,894 | $441,076 |
| 5 | $35,194 | $6,721 | $28,472 | $434,355 |
| 6 | $35,194 | $7,172 | $28,022 | $427,183 |
| 7 | $35,194 | $7,652 | $27,542 | $419,531 |
| 8 | $35,194 | $8,164 | $27,029 | $411,367 |
| 9 | $35,194 | $8,711 | $26,482 | $402,656 |
| 10 | $35,194 | $9,295 | $25,899 | $393,361 |
| 11 | $35,194 | $9,917 | $25,276 | $383,444 |
| 12 | $35,194 | $10,581 | $24,612 | $372,863 |
| 13 | $35,194 | $11,290 | $23,904 | $361,573 |
| 14 | $35,194 | $12,046 | $23,148 | $349,527 |
| 15 | $35,194 | $12,853 | $22,341 | $336,674 |
| 16 | $35,194 | $13,713 | $21,480 | $322,961 |
| 17 | $35,194 | $14,632 | $20,562 | $308,329 |
| 18 | $35,194 | $15,612 | $19,582 | $292,717 |
| 19 | $35,194 | $16,657 | $18,536 | $276,060 |
| 20 | $35,194 | $17,773 | $17,421 | $258,287 |
| 21 | $35,194 | $18,963 | $16,230 | $239,324 |
| 22 | $35,194 | $20,233 | $14,960 | $219,090 |
| 23 | $35,194 | $21,588 | $13,605 | $197,502 |
| 24 | $35,194 | $23,034 | $12,159 | $174,468 |
| 25 | $35,194 | $24,577 | $10,617 | $149,891 |
| 26 | $35,194 | $26,223 | $8,971 | $123,669 |
| 27 | $35,194 | $27,979 | $7,215 | $95,690 |
| 28 | $35,194 | $29,853 | $5,341 | $65,837 |
| 29 | $35,194 | $31,852 | $3,342 | $33,985 |
| 30 | $35,194 | $33,985 | $1,208 | $0 |
Swipe the table sideways to see all columns →
How to use it
A two-minute guide.
The Home Price field is pre-filled with Massachusetts's median home value (about $580,000). Override with your target home's actual price for a property-specific estimate.
The Property Tax Rate is pre-filled with Massachusetts's average effective rate of 1.23%. Within Massachusetts, rates vary by county — if you know your specific local rate from your county assessor or last tax bill, override it for a more precise estimate.
The Home Insurance default reflects Massachusetts's typical annual premium of approximately $1,500.
Adjust the Down Payment slider to compare scenarios. Below 20% down triggers PMI; the calculator adds it automatically and flags it.
How it works
The math behind the result.
The Massachusetts median home, in dollar terms. At $580,000 with a 20% down payment, you bring $116,000 to closing (plus closing costs) and take out a $464,000 mortgage. At today's 6.50% 30-year fixed rate, your monthly principal and interest is roughly $2,933.
Massachusetts's ongoing housing costs. The state's average property tax rate of 1.23% produces about $7,134 per year on a median-priced home — typically paid through escrow with your mortgage. Insurance averages $1,500/year in Massachusetts.
Total monthly payment (PITI) on the median Massachusetts home works out to about $3,652/month at current rates with 20% down and no HOA. Putting less down adds PMI; HOA dues add separately if your specific neighborhood requires them.
Your specific city matters. Median home prices vary widely within Massachusetts — major cities are usually 30-100% above the state median, rural areas can be well below. For city-specific calculators with local home prices pre-filled, use the city links below.
Questions
Frequently asked.
Want a more local estimate? See our city-specific Massachusetts mortgage calculators or check Massachusetts property tax rates.
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