Massachusetts mortgage calculator with property tax and insurance
Median home price in Massachusetts: $620,000. Effective property tax 1.05%/yr, homeowners insurance ≈ $1,500/yr. Rates updated Oct 8, 2026.
Payment by loan term
| Term | P&I | All-in | Total interest |
|---|---|---|---|
| 10 yr | $5,888 | $6,555 | $210,513 |
| 15 yr | $4,598 | $5,265 | $331,637 |
| 20 yr | $3,996 | $4,663 | $462,978 |
| 30 yr | $3,468 | $4,136 | $752,517 |
Adjust the numbers
Monthly breakdown
Total interest $752,517 · total PMI $0 · paid off in 30 years
Compare loan terms
| Term | Monthly (P&I) | Total monthly | Total interest |
|---|---|---|---|
| 10 years | $5,888 | $6,555 | $210,513 |
| 15 years | $4,598 | $5,265 | $331,637 |
| 20 years | $3,996 | $4,663 | $462,978 |
| 30 years | $3,468 | $4,136 | $752,517 |
Amortization schedule
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $37,045 | $4,572 | $491,428 |
| 2 | $36,690 | $4,927 | $486,500 |
| 3 | $36,307 | $5,310 | $481,191 |
| 4 | $35,895 | $5,722 | $475,469 |
| 5 | $35,451 | $6,166 | $469,302 |
| 6 | $34,972 | $6,645 | $462,658 |
| 7 | $34,456 | $7,161 | $455,497 |
| 8 | $33,901 | $7,717 | $447,780 |
| 9 | $33,302 | $8,316 | $439,464 |
| 10 | $32,656 | $8,961 | $430,503 |
| 11 | $31,960 | $9,657 | $420,846 |
| 12 | $31,211 | $10,407 | $410,439 |
| 13 | $30,403 | $11,215 | $399,225 |
| 14 | $29,532 | $12,085 | $387,140 |
| 15 | $28,594 | $13,023 | $374,116 |
| 16 | $27,583 | $14,034 | $360,082 |
| 17 | $26,493 | $15,124 | $344,958 |
| 18 | $25,319 | $16,298 | $328,660 |
| 19 | $24,054 | $17,563 | $311,096 |
| 20 | $22,690 | $18,927 | $292,170 |
| 21 | $21,221 | $20,396 | $271,773 |
| 22 | $19,638 | $21,980 | $249,794 |
| 23 | $17,931 | $23,686 | $226,108 |
| 24 | $16,093 | $25,525 | $200,583 |
| 25 | $14,111 | $27,506 | $173,077 |
| 26 | $11,976 | $29,642 | $143,435 |
| 27 | $9,674 | $31,943 | $111,492 |
| 28 | $7,195 | $34,423 | $77,070 |
| 29 | $4,522 | $37,095 | $39,975 |
| 30 | $1,643 | $39,975 | $0 |
Showing 360 payments. Schedule assumes a fixed rate and constant home value for PMI cancellation.
Down payment scenarios in Massachusetts
| Down | Cash needed | PMI | Monthly |
|---|---|---|---|
| 3% | $18,600 | $276 | $5,148 |
| 5% | $31,000 | $270 | $5,056 |
| 10% | $62,000 | $256 | $4,825 |
| 15% | $93,000 | $242 | $4,594 |
| 20% | $124,000 | $0 | $4,136 |
| 25% | $155,000 | $0 | $3,919 |
Around the Massachusetts median price
| Home price | P&I | All-in monthly |
|---|---|---|
| $465,000 | $2,601 | $3,133 |
| $620,000 | $3,468 | $4,136 |
| $775,000 | $4,335 | $5,138 |
| $930,000 | $5,202 | $6,141 |
Detailed payment examples
FAQ
What is the average property tax rate in Massachusetts?
Massachusetts's effective property tax rate is about 1.05% of home value per year, which is $543 per month on a $620,000 home. Rates vary by county and by exemptions, so treat this as a planning estimate.
How much is homeowners insurance in Massachusetts?
A typical Massachusetts policy runs around $1,500 per year ($125 per month). Coastal and hail-prone areas can be significantly higher.
Is a $620,000 home affordable in Massachusetts?
At 7.50% with 20% down, the estimated all-in payment is $4,136 per month. Using the 28% rule that implies a household income near $177,000 per year before other debts.