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Massachusetts mortgage calculator

Pre-filled for Massachusetts: the median home value ($605,000) and the state's effective property tax rate of 1%. Change anything to match your home.

Home price
Down payment$121,000
%
Interest rateAPR, fixed
%
Loan term
Extra monthly paymenttoward principal
/ mo

Estimated monthly payment

$3,713.38

Loan $484,000 · 20% down

  • Principal & interest$3,059.21
  • Property tax$504.17
  • Home insurance$150.00
See the month-by-month schedule →
Total interest
$617,315
Total cost
$1,336,816
Payoff time
30 yr
PMI paid
None

Principal vs. interest by year

1: Principal 5,410, Interest 31,30112: Principal 5,772, Interest 30,9383: Principal 6,159, Interest 30,5524: Principal 6,571, Interest 30,13945: Principal 7,011, Interest 29,6996: Principal 7,481, Interest 29,2307: Principal 7,982, Interest 28,7298: Principal 8,516, Interest 28,19489: Principal 9,087, Interest 27,62410: Principal 9,695, Interest 27,01511: Principal 10,345, Interest 26,36612: Principal 11,037, Interest 25,6731213: Principal 11,777, Interest 24,93414: Principal 12,565, Interest 24,14515: Principal 13,407, Interest 23,30416: Principal 14,305, Interest 22,4061617: Principal 15,263, Interest 21,44818: Principal 16,285, Interest 20,42619: Principal 17,375, Interest 19,33520: Principal 18,539, Interest 18,1712021: Principal 19,781, Interest 16,93022: Principal 21,105, Interest 15,60523: Principal 22,519, Interest 14,19224: Principal 24,027, Interest 12,6842425: Principal 25,636, Interest 11,07426: Principal 27,353, Interest 9,35727: Principal 29,185, Interest 7,52628: Principal 31,139, Interest 5,5712829: Principal 33,225, Interest 3,48630: Principal 35,449, Interest 1,26030
PrincipalInterest

Amortization schedule by year

YearPrincipalInterestBalance
1$5,410$31,301$478,590
2$5,772$30,938$472,818
3$6,159$30,552$466,659
4$6,571$30,139$460,088
5$7,011$29,699$453,077
Monthly payment$3,713.38

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Massachusetts at a glance

Effective property tax
1%
Rank (1 = highest)
19th of 51
Median home value
$607,400
Median tax bill
$6,080/yr

On the same $400,000 home, property tax in Massachusetts adds about $333.33/month, versus $296.67/month at the national rate.

Massachusetts mortgage payments by home price

Home pricePrincipal & interestProperty taxTotal / month
$300,000$1,516.96$250.00$1,916.96
$450,000$2,275.44$375.00$2,800.44
$600,000$3,033.93$500.00$3,683.93
$900,000$4,550.89$750.00$5,450.89
$1,200,000$6,067.85$1,000.00$7,217.85

20% down, 6.5% 30-year fixed (example rate), 1% property tax, $1,800/yr insurance, no HOA. Also see: how much house you can afford in Massachusetts.

Mortgage calculators for other states

Assumptions

  • Fixed interest rate for the full term.
  • Property tax, insurance and HOA stay constant (in reality they usually rise over time).
  • PMI applies only when the loan is over 80% of the home price, and stops once the balance reaches 78% of the original price.
  • Extra payments go entirely to principal.
  • Massachusetts figures: Effective rate = ACS median real estate taxes paid ÷ ACS median value, owner-occupied housing units, by state. Source: US Census Bureau ACS 2024.

Frequently asked questions

What is the property tax rate in Massachusetts?+

The effective property tax rate in Massachusetts is about 1% of home value a year (median taxes paid $6,080 on a median home worth $607,400). That's the 19th highest of 50 states and DC, and higher than the national 0.89%. Your actual bill depends on your county, city and exemptions.

What's the mortgage payment on a median-priced home in Massachusetts?+

For a $605,000 home with 20% down at an example 6.5% 30-year rate, the payment is about $3,713.38 a month, including $504.17 of property tax and $150.00 of insurance.

How much income do I need to buy a home in Massachusetts?+

To afford the median Massachusetts home ($605,000) under the 28/36 guideline with 10% down and no other debts, you'd need roughly $186,000 a year in gross income at a 6.5% rate.

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Last reviewed October 14, 2026. Calculator version 1.0.0. Sources: US Census Bureau, ACS 2024 1-year, Table B25103 (Median Real Estate Taxes Paid) · US Census Bureau, ACS 2024 1-year, Table B25077 (Median Value, Owner-Occupied). Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.