Typical Massachusetts mortgage payment
The median home price in Massachusetts is roughly $600,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $4,745 | $3,221 |
| 5.50% | $4,903 | $3,407 |
| 6.00% | $5,063 | $3,597 |
| 6.50% | $5,227 | $3,792 |
| 7.00% | $5,393 | $3,992 |
| 7.50% | $5,562 | $4,195 |
| 8.00% | $5,734 | $4,403 |
At 6.50% over 30 years, a $600,000 home in Massachusetts costs about $3,792/month in principal & interest.
What affects your Massachusetts payment?
- Property taxes & insurance vary by county and aren't included above.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price is an approximate estimate. Figures are principal & interest only and exclude taxes, insurance and fees. Not financial advice.