United States · Massachusetts

Massachusetts mortgage calculator

Estimate your monthly payment in Massachusetts — principal & interest, property tax, and insurance — using the live national average rate and Massachusetts's estimated ~1.2% effective property tax rate. Adjust any figure below.

Affording a home in Massachusetts

Very difficult

Median home price: $642,000
Income needed: $184,000; to qualify (28% rule, 20% down)
Typical household income: $98,000
Income gap: +$86,000

A median Massachusetts home costs $642k and needs $86k more annual income than the typical household earns.

Data as of 2026-06-30. Sources: Zillow ZHVI, U.S. Census ACS, Splitero. Median is a statewide figure — expensive cities and more affordable rural areas vary widely.

Most Massachusetts buyers combine two incomes — here's why

The typical Massachusetts household earns $98,000/year. To buy a median-priced home, lenders generally want to see $184,000/year. That's a $86,000 gap — which is why many Massachusetts buyers combine two incomes, choose a smaller first home, or put down a larger deposit to reduce the loan. None of these is the wrong choice; knowing the gap is the starting point.

The roles and income paths that commonly reach it in Massachusetts are listed below — some single high-earning roles, some two incomes combined.

Roles and income paths that commonly meet the income in Massachusetts

Software engineer
Doctor
Finance professional
Dual income essential

Pay varies widely by employer, experience, and city — these are paths that often (not always) reach the income needed, not a guarantee for any individual. Entries like “+ partner income” mean two incomes combined.

First-time buyer programs available in Massachusetts

MassHousing Mortgage
ONE Mortgage Program
MassDREAMS down payment grant

Programs and their terms change — verify current availability and eligibility with the official state housing agency before relying on any of these.

What makes Massachusetts legally different for homebuyers

Massachusetts has a short nonjudicial foreclosure timeline but also requires a 'right to cure' period — homeowners must be given 150 days notice before foreclosure can proceed (reduced from 90 days in 2010). Despite no post-sale redemption, this notice period provides meaningful time to respond.

If you buy here

Massachusetts has some of the highest property values and closing costs in the country. The attorney's fee (Massachusetts requires attorney presence at closing, unlike many other states) and transfer taxes add to the total — budget 3–5% of the purchase price for closing costs.

Foreclosure: nonjudicial, ~3 mo
Post-sale redemption: None
Anti-deficiency protection: No

General overview only — laws change and individual situations vary. Consult a real estate attorney for advice specific to your purchase. (Verified 2026-06-30.)

A clean, printable one-page summary — free, no account needed.

Loan details

Understanding your numbers before you sign.

A mortgage is likely the largest financial commitment of your life. The Mortgage Ledger was built so you can explore what that commitment actually looks like — payment by payment, line by line — before you're sitting across from a lender.

Rates sourced from FRED (Federal Reserve Bank of St. Louis). Estimates only — not a loan offer.

Enter loan details to see your payment.

Save & share

Save scenarios to compare them later — they stay in this browser.

Compare scenarios

Save a scenario above, then compare it side by side with your current inputs here.

Mortgage rate trend

Past year, weekly national average

Loading rate history…

Phase 2 preview of the new country-first structure — not yet indexed. The live site is running unchanged.