How much is property tax on a home in Massachusetts?

Massachusetts homeowners pay an effective property tax rate of about 1.00 percent of home value — the 19th highest of the 50 states and DC. On the state's median home value of $607,400 that works out to roughly $6,070 a year, or $506 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.

What is the monthly payment on a median-priced Massachusetts home?

At $607,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $3,095 a month. Adding Massachusetts property tax of roughly $506 a month and an estimated $177 of homeowner insurance brings the full payment to around $3,778.

What home loan options exist in Massachusetts?

Massachusetts buyers can use FHA loans with a 580 credit score and 3.5 percent down, VA loans with no mortgage insurance for veterans with a 620 score, USDA loans with zero down for rural buyers earning under 115 percent of area median income, or conventional loans requiring 3 percent down for first-time buyers with PMI you can cancel once you owe less than 80 percent of the home's value.

Which first-time homebuyer programs are offered in Massachusetts?

MassHousing is the main source of help. The MassHousing Mortgage offers low rates within area income limits and pairs with down payment assistance repaid over 15 years. Workforce Advantage 2.0 gives buyers earning 80 percent or less of area median income a low-rate mortgage with a zero-interest deferred down payment loan, and Operation Welcome Home assists veterans and Reserve members with closing costs.

Are there zero-down mortgage options in Massachusetts?

Yes, for some buyers. Veterans can use VA loans with 100 percent financing and no mortgage insurance, and USDA loans require no down payment in eligible rural areas for households within the income limits. Everyone else can combine a 3 percent down conventional or 3.5 percent down FHA loan with MassHousing down payment assistance to reduce the cash needed at closing.

Massachusetts (MA) Mortgage Calculator

Purchase price

Down payment

% ($121,400)

Mortgage term

years

Interest rate

Property tax

$/year

Property insurance

$/year

HOA fees

$/month

PMI

Extra monthly payment

$/month

Start date

Amortization schedule

show by year show by month don't show

$3,778

Monthly payment

$3,095

Principal & interest

$506

Taxes

$177

Insurance

HOA fees

Loan balance over time

Balance Principal paid $485,600 Interest paid $628,569

20262056

Total of 360 payments	$1,360,019
Principal	$485,600
Interest	$628,569
Taxes	$182,100
Insurance	$63,750
HOA fees	$0

P&I 81.9% Taxes 13.4% Insurance 4.7%

15- vs 30-year term at 6.58%

15-year

$4,251/mo P&I

$279,667 total interest

30-year · current

$3,095/mo P&I

$628,569 total interest

The 15-year term saves $348,903 in interest. Which term is right for you?

What these numbers come from

Median home value: $607,400
Median tax bill: $6,080
Effective tax rate: 1.00%
Rank of 51: 19th highest

Massachusetts taxes property at about 1.00% of value against 0.89% nationally. On a $607,000 home that is $56 a month more than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Massachusetts home prices

20% down, 30-year fixed at 6.58%, with Massachusetts property tax of 1.00% and estimated insurance.

Home price	Loan	P&I	Tax/mo	Full payment
$364,000	$291,200	$1,856	$303	$2,265
$486,000	$388,800	$2,478	$405	$3,025
$607,000 median	$485,600	$3,095	$506	$3,778
$759,000	$607,200	$3,870	$633	$4,724
$911,000	$728,800	$4,645	$759	$5,670

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Massachusetts taxes alone add $506 a month on a median-priced home.

Amortization schedule

Date	Principal	Interest	Tax, Ins. & HOA	Balance
Aug	$432	$2,663	$683	$485,168
Sep	$435	$2,660	$683	$484,733
Oct	$437	$2,658	$683	$484,296
Nov	$439	$2,656	$683	$483,857
Dec	$442	$2,653	$683	$483,415
2026	$2,185	$13,290	$3,415	$483,415
Jan	$444	$2,651	$683	$482,971
Feb	$447	$2,648	$683	$482,524
Mar	$449	$2,646	$683	$482,075
Apr	$452	$2,643	$683	$481,624
May	$454	$2,641	$683	$481,170
Jun	$457	$2,638	$683	$480,713
Jul	$459	$2,636	$683	$480,254
Aug	$462	$2,633	$683	$479,793
Sep	$464	$2,631	$683	$479,329
Oct	$467	$2,628	$683	$478,862
Nov	$469	$2,626	$683	$478,393
Dec	$472	$2,623	$683	$477,921
2027	$5,494	$31,645	$8,195	$477,921
Jan	$474	$2,621	$683	$477,447
Feb	$477	$2,618	$683	$476,970
Mar	$480	$2,615	$683	$476,490
Apr	$482	$2,613	$683	$476,008
May	$485	$2,610	$683	$475,523
Jun	$487	$2,607	$683	$475,036
Jul	$490	$2,605	$683	$474,546
Aug	$493	$2,602	$683	$474,053
Sep	$496	$2,599	$683	$473,557
Oct	$498	$2,597	$683	$473,059
Nov	$501	$2,594	$683	$472,558
Dec	$504	$2,591	$683	$472,055
2028	$5,867	$31,272	$8,195	$472,055
Jan	$506	$2,588	$683	$471,548
Feb	$509	$2,586	$683	$471,039
Mar	$512	$2,583	$683	$470,527
Apr	$515	$2,580	$683	$470,012
May	$518	$2,577	$683	$469,494
Jun	$521	$2,574	$683	$468,974
Jul	$523	$2,572	$683	$468,450
Aug	$526	$2,569	$683	$467,924
Sep	$529	$2,566	$683	$467,395
Oct	$532	$2,563	$683	$466,863
Nov	$535	$2,560	$683	$466,328
Dec	$538	$2,557	$683	$465,790
2029	$6,264	$30,875	$8,195	$465,790
Jan	$541	$2,554	$683	$465,249
Feb	$544	$2,551	$683	$464,705
Mar	$547	$2,548	$683	$464,159
Apr	$550	$2,545	$683	$463,609
May	$553	$2,542	$683	$463,056
Jun	$556	$2,539	$683	$462,500
Jul	$559	$2,536	$683	$461,941
Aug	$562	$2,533	$683	$461,379
Sep	$565	$2,530	$683	$460,814
Oct	$568	$2,527	$683	$460,246
Nov	$571	$2,524	$683	$459,675
Dec	$574	$2,521	$683	$459,101
2030	$6,689	$30,450	$8,195	$459,101
Jan	$578	$2,517	$683	$458,523
Feb	$581	$2,514	$683	$457,943
Mar	$584	$2,511	$683	$457,359
Apr	$587	$2,508	$683	$456,772
May	$590	$2,505	$683	$456,181
Jun	$594	$2,501	$683	$455,588
Jul	$597	$2,498	$683	$454,991
Aug	$600	$2,495	$683	$454,391
Sep	$603	$2,492	$683	$453,788
Oct	$607	$2,488	$683	$453,181
Nov	$610	$2,485	$683	$452,571
Dec	$613	$2,482	$683	$451,958
2031	$7,143	$29,996	$8,195	$451,958
Jan	$617	$2,478	$683	$451,341
Feb	$620	$2,475	$683	$450,721
Mar	$623	$2,471	$683	$450,097
Apr	$627	$2,468	$683	$449,471
May	$630	$2,465	$683	$448,840
Jun	$634	$2,461	$683	$448,207
Jul	$637	$2,458	$683	$447,569
Aug	$641	$2,454	$683	$446,929
Sep	$644	$2,451	$683	$446,284
Oct	$648	$2,447	$683	$445,636
Nov	$651	$2,444	$683	$444,985
Dec	$655	$2,440	$683	$444,330
2032	$7,627	$29,512	$8,195	$444,330
Jan	$659	$2,436	$683	$443,672
Feb	$662	$2,433	$683	$443,010
Mar	$666	$2,429	$683	$442,344
Apr	$669	$2,426	$683	$441,674
May	$673	$2,422	$683	$441,001
Jun	$677	$2,418	$683	$440,325
Jul	$680	$2,414	$683	$439,644
Aug	$684	$2,411	$683	$438,960
Sep	$688	$2,407	$683	$438,272
Oct	$692	$2,403	$683	$437,580
Nov	$696	$2,399	$683	$436,885
Dec	$699	$2,396	$683	$436,185
2033	$8,145	$28,994	$8,195	$436,185
Jan	$703	$2,392	$683	$435,482
Feb	$707	$2,388	$683	$434,775
Mar	$711	$2,384	$683	$434,064
Apr	$715	$2,380	$683	$433,350
May	$719	$2,376	$683	$432,631
Jun	$723	$2,372	$683	$431,908
Jul	$727	$2,368	$683	$431,182
Aug	$731	$2,364	$683	$430,451
Sep	$735	$2,360	$683	$429,716
Oct	$739	$2,356	$683	$428,978
Nov	$743	$2,352	$683	$428,235
Dec	$747	$2,348	$683	$427,488
2034	$8,697	$28,442	$8,195	$427,488
Jan	$751	$2,344	$683	$426,737
Feb	$755	$2,340	$683	$425,982
Mar	$759	$2,336	$683	$425,223
Apr	$763	$2,332	$683	$424,460
May	$767	$2,327	$683	$423,693
Jun	$772	$2,323	$683	$422,921
Jul	$776	$2,319	$683	$422,145
Aug	$780	$2,315	$683	$421,365
Sep	$784	$2,310	$683	$420,580
Oct	$789	$2,306	$683	$419,792
Nov	$793	$2,302	$683	$418,999
Dec	$797	$2,298	$683	$418,201
2035	$9,287	$27,852	$8,195	$418,201
Jan	$802	$2,293	$683	$417,399
Feb	$806	$2,289	$683	$416,593
Mar	$811	$2,284	$683	$415,783
Apr	$815	$2,280	$683	$414,968
May	$820	$2,275	$683	$414,148
Jun	$824	$2,271	$683	$413,324
Jul	$829	$2,266	$683	$412,496
Aug	$833	$2,262	$683	$411,663
Sep	$838	$2,257	$683	$410,825
Oct	$842	$2,253	$683	$409,983
Nov	$847	$2,248	$683	$409,136
Dec	$851	$2,243	$683	$408,284
2036	$9,917	$27,222	$8,195	$408,284
Jan	$856	$2,239	$683	$407,428
Feb	$861	$2,234	$683	$406,567
Mar	$866	$2,229	$683	$405,702
Apr	$870	$2,225	$683	$404,831
May	$875	$2,220	$683	$403,956
Jun	$880	$2,215	$683	$403,077
Jul	$885	$2,210	$683	$402,192
Aug	$890	$2,205	$683	$401,302
Sep	$894	$2,200	$683	$400,408
Oct	$899	$2,196	$683	$399,508
Nov	$904	$2,191	$683	$398,604
Dec	$909	$2,186	$683	$397,695
2037	$10,589	$26,550	$8,195	$397,695
Jan	$914	$2,181	$683	$396,781
Feb	$919	$2,176	$683	$395,861
Mar	$924	$2,171	$683	$394,937
Apr	$929	$2,166	$683	$394,008
May	$934	$2,160	$683	$393,073
Jun	$940	$2,155	$683	$392,134
Jul	$945	$2,150	$683	$391,189
Aug	$950	$2,145	$683	$390,239
Sep	$955	$2,140	$683	$389,284
Oct	$960	$2,135	$683	$388,324
Nov	$966	$2,129	$683	$387,358
Dec	$971	$2,124	$683	$386,387
2038	$11,308	$25,831	$8,195	$386,387
Jan	$976	$2,119	$683	$385,411
Feb	$982	$2,113	$683	$384,429
Mar	$987	$2,108	$683	$383,443
Apr	$992	$2,103	$683	$382,450
May	$998	$2,097	$683	$381,452
Jun	$1,003	$2,092	$683	$380,449
Jul	$1,009	$2,086	$683	$379,440
Aug	$1,014	$2,081	$683	$378,426
Sep	$1,020	$2,075	$683	$377,406
Oct	$1,025	$2,069	$683	$376,381
Nov	$1,031	$2,064	$683	$375,350
Dec	$1,037	$2,058	$683	$374,313
2039	$12,075	$25,064	$8,195	$374,313
Jan	$1,042	$2,052	$683	$373,270
Feb	$1,048	$2,047	$683	$372,222
Mar	$1,054	$2,041	$683	$371,168
Apr	$1,060	$2,035	$683	$370,109
May	$1,065	$2,029	$683	$369,043
Jun	$1,071	$2,024	$683	$367,972
Jul	$1,077	$2,018	$683	$366,895
Aug	$1,083	$2,012	$683	$365,811
Sep	$1,089	$2,006	$683	$364,722
Oct	$1,095	$2,000	$683	$363,627
Nov	$1,101	$1,994	$683	$362,526
Dec	$1,107	$1,988	$683	$361,419
2040	$12,893	$24,246	$8,195	$361,419
Jan	$1,113	$1,982	$683	$360,306
Feb	$1,119	$1,976	$683	$359,187
Mar	$1,125	$1,970	$683	$358,062
Apr	$1,132	$1,963	$683	$356,930
May	$1,138	$1,957	$683	$355,792
Jun	$1,144	$1,951	$683	$354,648
Jul	$1,150	$1,945	$683	$353,498
Aug	$1,157	$1,938	$683	$352,341
Sep	$1,163	$1,932	$683	$351,179
Oct	$1,169	$1,926	$683	$350,009
Nov	$1,176	$1,919	$683	$348,834
Dec	$1,182	$1,913	$683	$347,651
2041	$13,768	$23,371	$8,195	$347,651
Jan	$1,189	$1,906	$683	$346,463
Feb	$1,195	$1,900	$683	$345,268
Mar	$1,202	$1,893	$683	$344,066
Apr	$1,208	$1,887	$683	$342,858
May	$1,215	$1,880	$683	$341,643
Jun	$1,222	$1,873	$683	$340,421
Jul	$1,228	$1,867	$683	$339,193
Aug	$1,235	$1,860	$683	$337,958
Sep	$1,242	$1,853	$683	$336,716
Oct	$1,249	$1,846	$683	$335,468
Nov	$1,255	$1,839	$683	$334,212
Dec	$1,262	$1,833	$683	$332,950
2042	$14,702	$22,437	$8,195	$332,950
Jan	$1,269	$1,826	$683	$331,681
Feb	$1,276	$1,819	$683	$330,404
Mar	$1,283	$1,812	$683	$329,121
Apr	$1,290	$1,805	$683	$327,831
May	$1,297	$1,798	$683	$326,534
Jun	$1,304	$1,790	$683	$325,229
Jul	$1,312	$1,783	$683	$323,918
Aug	$1,319	$1,776	$683	$322,599
Sep	$1,326	$1,769	$683	$321,273
Oct	$1,333	$1,762	$683	$319,940
Nov	$1,341	$1,754	$683	$318,599
Dec	$1,348	$1,747	$683	$317,251
2043	$15,699	$21,440	$8,195	$317,251
Jan	$1,355	$1,740	$683	$315,896
Feb	$1,363	$1,732	$683	$314,533
Mar	$1,370	$1,725	$683	$313,163
Apr	$1,378	$1,717	$683	$311,785
May	$1,385	$1,710	$683	$310,400
Jun	$1,393	$1,702	$683	$309,007
Jul	$1,401	$1,694	$683	$307,606
Aug	$1,408	$1,687	$683	$306,198
Sep	$1,416	$1,679	$683	$304,782
Oct	$1,424	$1,671	$683	$303,358
Nov	$1,431	$1,663	$683	$301,927
Dec	$1,439	$1,656	$683	$300,488
2044	$16,763	$20,376	$8,195	$300,488
Jan	$1,447	$1,648	$683	$299,040
Feb	$1,455	$1,640	$683	$297,585
Mar	$1,463	$1,632	$683	$296,122
Apr	$1,471	$1,624	$683	$294,651
May	$1,479	$1,616	$683	$293,172
Jun	$1,487	$1,608	$683	$291,684
Jul	$1,496	$1,599	$683	$290,189
Aug	$1,504	$1,591	$683	$288,685
Sep	$1,512	$1,583	$683	$287,173
Oct	$1,520	$1,575	$683	$285,653
Nov	$1,529	$1,566	$683	$284,124
Dec	$1,537	$1,558	$683	$282,587
2045	$17,900	$19,239	$8,195	$282,587
Jan	$1,545	$1,550	$683	$281,042
Feb	$1,554	$1,541	$683	$279,488
Mar	$1,562	$1,533	$683	$277,926
Apr	$1,571	$1,524	$683	$276,355
May	$1,580	$1,515	$683	$274,775
Jun	$1,588	$1,507	$683	$273,187
Jul	$1,597	$1,498	$683	$271,590
Aug	$1,606	$1,489	$683	$269,984
Sep	$1,615	$1,480	$683	$268,370
Oct	$1,623	$1,472	$683	$266,746
Nov	$1,632	$1,463	$683	$265,114
Dec	$1,641	$1,454	$683	$263,473
2046	$19,114	$18,025	$8,195	$263,473
Jan	$1,650	$1,445	$683	$261,823
Feb	$1,659	$1,436	$683	$260,163
Mar	$1,668	$1,427	$683	$258,495
Apr	$1,678	$1,417	$683	$256,818
May	$1,687	$1,408	$683	$255,131
Jun	$1,696	$1,399	$683	$253,435
Jul	$1,705	$1,390	$683	$251,730
Aug	$1,715	$1,380	$683	$250,015
Sep	$1,724	$1,371	$683	$248,291
Oct	$1,733	$1,361	$683	$246,558
Nov	$1,743	$1,352	$683	$244,815
Dec	$1,753	$1,342	$683	$243,062
2047	$20,411	$16,728	$8,195	$243,062
Jan	$1,762	$1,333	$683	$241,300
Feb	$1,772	$1,323	$683	$239,528
Mar	$1,782	$1,313	$683	$237,747
Apr	$1,791	$1,304	$683	$235,956
May	$1,801	$1,294	$683	$234,154
Jun	$1,811	$1,284	$683	$232,343
Jul	$1,821	$1,274	$683	$230,523
Aug	$1,831	$1,264	$683	$228,692
Sep	$1,841	$1,254	$683	$226,851
Oct	$1,851	$1,244	$683	$225,000
Nov	$1,861	$1,234	$683	$223,139
Dec	$1,871	$1,224	$683	$221,267
2048	$21,795	$15,344	$8,195	$221,267
Jan	$1,882	$1,213	$683	$219,386
Feb	$1,892	$1,203	$683	$217,494
Mar	$1,902	$1,193	$683	$215,591
Apr	$1,913	$1,182	$683	$213,679
May	$1,923	$1,172	$683	$211,755
Jun	$1,934	$1,161	$683	$209,821
Jul	$1,944	$1,151	$683	$207,877
Aug	$1,955	$1,140	$683	$205,922
Sep	$1,966	$1,129	$683	$203,956
Oct	$1,977	$1,118	$683	$201,980
Nov	$1,987	$1,108	$683	$199,992
Dec	$1,998	$1,097	$683	$197,994
2049	$23,273	$13,866	$8,195	$197,994
Jan	$2,009	$1,086	$683	$195,985
Feb	$2,020	$1,075	$683	$193,965
Mar	$2,031	$1,064	$683	$191,933
Apr	$2,042	$1,052	$683	$189,891
May	$2,054	$1,041	$683	$187,837
Jun	$2,065	$1,030	$683	$185,772
Jul	$2,076	$1,019	$683	$183,696
Aug	$2,088	$1,007	$683	$181,608
Sep	$2,099	$996	$683	$179,509
Oct	$2,111	$984	$683	$177,398
Nov	$2,122	$973	$683	$175,276
Dec	$2,134	$961	$683	$173,142
2050	$24,852	$12,287	$8,195	$173,142
Jan	$2,146	$949	$683	$170,997
Feb	$2,157	$938	$683	$168,840
Mar	$2,169	$926	$683	$166,671
Apr	$2,181	$914	$683	$164,490
May	$2,193	$902	$683	$162,297
Jun	$2,205	$890	$683	$160,092
Jul	$2,217	$878	$683	$157,875
Aug	$2,229	$866	$683	$155,645
Sep	$2,241	$853	$683	$153,404
Oct	$2,254	$841	$683	$151,150
Nov	$2,266	$829	$683	$148,884
Dec	$2,279	$816	$683	$146,605
2051	$26,537	$10,602	$8,195	$146,605
Jan	$2,291	$804	$683	$144,314
Feb	$2,304	$791	$683	$142,011
Mar	$2,316	$779	$683	$139,695
Apr	$2,329	$766	$683	$137,366
May	$2,342	$753	$683	$135,024
Jun	$2,355	$740	$683	$132,669
Jul	$2,367	$727	$683	$130,302
Aug	$2,380	$714	$683	$127,922
Sep	$2,393	$701	$683	$125,528
Oct	$2,407	$688	$683	$123,121
Nov	$2,420	$675	$683	$120,702
Dec	$2,433	$662	$683	$118,269
2052	$28,337	$8,802	$8,195	$118,269
Jan	$2,446	$649	$683	$115,822
Feb	$2,460	$635	$683	$113,362
Mar	$2,473	$622	$683	$110,889
Apr	$2,487	$608	$683	$108,402
May	$2,501	$594	$683	$105,902
Jun	$2,514	$581	$683	$103,387
Jul	$2,528	$567	$683	$100,859
Aug	$2,542	$553	$683	$98,318
Sep	$2,556	$539	$683	$95,762
Oct	$2,570	$525	$683	$93,192
Nov	$2,584	$511	$683	$90,608
Dec	$2,598	$497	$683	$88,010
2053	$30,259	$6,880	$8,195	$88,010
Jan	$2,612	$483	$683	$85,398
Feb	$2,627	$468	$683	$82,771
Mar	$2,641	$454	$683	$80,130
Apr	$2,656	$439	$683	$77,474
May	$2,670	$425	$683	$74,804
Jun	$2,685	$410	$683	$72,120
Jul	$2,699	$395	$683	$69,420
Aug	$2,714	$381	$683	$66,706
Sep	$2,729	$366	$683	$63,977
Oct	$2,744	$351	$683	$61,233
Nov	$2,759	$336	$683	$58,473
Dec	$2,774	$321	$683	$55,699
2054	$32,311	$4,828	$8,195	$55,699
Jan	$2,789	$305	$683	$52,910
Feb	$2,805	$290	$683	$50,105
Mar	$2,820	$275	$683	$47,285
Apr	$2,836	$259	$683	$44,449
May	$2,851	$244	$683	$41,598
Jun	$2,867	$228	$683	$38,731
Jul	$2,883	$212	$683	$35,848
Aug	$2,898	$197	$683	$32,950
Sep	$2,914	$181	$683	$30,036
Oct	$2,930	$165	$683	$27,106
Nov	$2,946	$149	$683	$24,159
Dec	$2,962	$132	$683	$21,197
2055	$34,502	$2,637	$8,195	$21,197
Jan	$2,979	$116	$683	$18,218
Feb	$2,995	$100	$683	$15,223
Mar	$3,011	$83	$683	$12,212
Apr	$3,028	$67	$683	$9,184
May	$3,045	$50	$683	$6,139
Jun	$3,061	$34	$683	$3,078
Jul	$3,078	$17	$683	$0
2056	$21,197	$467	$4,780	$0
Totals	$485,600	$628,569	$245,850

Refinancing in Massachusetts

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Massachusetts home loans in detail

Massachusetts Mortgage Overview

Massachusetts has around 6.8 million people and the average home price is around $645,000. It's one of the most populated states in the New England area thanks to its incredible economy rich with high-tech companies and a diverse set of industries.

If you're looking for a stable place to buy a home Massachusetts is a great choice. Here are your loan options in Massachusetts:

Massachusetts FHA loans

Borrowers with less than perfect credit enjoy the FHA loan. You only need a 580 credit score for a 3.5 percent down payment or a 500 - 579 score with a 10 percent down payment. FHA loans have flexible deb ratio guidelines and as long as you have a stable income, may be a good candidate. The rates are low, but the mortgage insurance lasts for the loan term.

Massachusetts VA loans

Veterans don't need perfect credit to buy a home. The VA loan makes it easy. All you need is proof of your time in the military, a 620 credit score, and enough money to cover your debts and the cost of living. VA loans don't charge mortgage insurance.

Massachusetts USDA loans

If you will live in a rural area and make less than 115 percent of the area's median income, the USDA loan may be a great option. You don't need a down payment but must have a 640 credit score and a max 41 percent debt ratio. USDA loans have mortgage insurance for the loan term, but the rates are low.

Massachusetts conventional loans

If you have great credit and a 3 percent down payment for first-time homebuyers or 5 percent for everyone else, the conventional loan may be a great option. Conventional loans require low debt ratios and stable employment, but in exchange have low rates and Private Mortgage Insurance you can cancel when you owe less than 80 percent of the home's value.

First-Time Homebuyer Programs in Massachusetts

MassHousing Mortgage

The MassHousing mortgage makes it easy to afford a mortgage if you are within the income limits for your area. It offers low interest rates to make the mortgage more affordable.

Down payment assistance

Receive up to 5 percent of the home's purchase price or $15,000 as a 15-year term with a 2 percent rate. If you sell the home or refinance, the loan becomes immediately payable.

Workforce Advantage 2.0

If you earn 80 percent or less of the area's median income, and purchase a single-family home or condo, you may secure a low rate first mortgage and 0% interest down payment loan. Payments are deferred until you move or refinance the loan.

Expanded Down Payment Assistance

If you move to certain areas of MA, you may receive an amount of down payment assistance that's 5 percent of the sales price or $25,000, whichever is less.

Operation Welcome Home

Veterans and members of the Reserves may get up to $2,500 in closing cost assistance along with a loan with favorable terms.

Massachusetts mortgage FAQ

How much is property tax on a home in Massachusetts?: Massachusetts homeowners pay an effective property tax rate of about 1.00 percent of home value — the 19th highest of the 50 states and DC. On the state's median home value of $607,400 that works out to roughly $6,070 a year, or $506 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Massachusetts home?: At $607,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $3,095 a month. Adding Massachusetts property tax of roughly $506 a month and an estimated $177 of homeowner insurance brings the full payment to around $3,778.
What home loan options exist in Massachusetts?: Massachusetts buyers can use FHA loans with a 580 credit score and 3.5 percent down, VA loans with no mortgage insurance for veterans with a 620 score, USDA loans with zero down for rural buyers earning under 115 percent of area median income, or conventional loans requiring 3 percent down for first-time buyers with PMI you can cancel once you owe less than 80 percent of the home's value.
Which first-time homebuyer programs are offered in Massachusetts?: MassHousing is the main source of help. The MassHousing Mortgage offers low rates within area income limits and pairs with down payment assistance repaid over 15 years. Workforce Advantage 2.0 gives buyers earning 80 percent or less of area median income a low-rate mortgage with a zero-interest deferred down payment loan, and Operation Welcome Home assists veterans and Reserve members with closing costs.
Are there zero-down mortgage options in Massachusetts?: Yes, for some buyers. Veterans can use VA loans with 100 percent financing and no mortgage insurance, and USDA loans require no down payment in eligible rural areas for households within the income limits. Everyone else can combine a 3 percent down conventional or 3.5 percent down FHA loan with MassHousing down payment assistance to reduce the cash needed at closing.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.

Alabama0.38%
Alaska1.06%
Arizona0.43%
Arkansas0.52%
California0.71%
Colorado0.49%
Connecticut1.66%
Delaware0.47%
District of Columbia0.63%
Florida0.75%
Georgia0.74%
Hawaii0.27%
Idaho0.43%
Illinois1.92%
Indiana0.74%
Iowa1.29%
Kansas1.25%
Kentucky0.71%
Louisiana0.53%
Maine0.91%
Maryland0.95%
Michigan1.18%
Minnesota1.02%
Mississippi0.65%
Missouri0.79%
Montana0.69%
Nebraska1.42%
Nevada0.47%
New Hampshire1.46%
New Jersey1.89%
New Mexico0.63%
New York1.45%
North Carolina0.61%
North Dakota0.96%
Ohio1.22%
Oklahoma0.75%
Oregon0.78%
Pennsylvania1.16%
Rhode Island1.07%
South Carolina0.45%
South Dakota1.02%
Tennessee0.45%
Texas1.31%
Utah0.49%
Vermont1.42%
Virginia0.71%
Washington0.79%
West Virginia0.52%
Wisconsin1.25%
Wyoming0.57%

Massachusetts Mortgage Calculator

Loan balance over time

What these numbers come from

Monthly cost across Massachusetts home prices

Amortization schedule

Refinancing in Massachusetts

Massachusetts home loans in detail

Massachusetts Mortgage Overview

Massachusetts FHA loans

Massachusetts VA loans

Massachusetts USDA loans

Massachusetts conventional loans

First-Time Homebuyer Programs in Massachusetts

MassHousing Mortgage

Down payment assistance

Workforce Advantage 2.0

Expanded Down Payment Assistance

Operation Welcome Home

Massachusetts mortgage FAQ

Property tax in every state