Conventional Loan Calculator — Massachusetts
In Massachusetts, one-unit loans up to $832,750–$1,249,125 are conforming. With 10% down on the typical $662,000 home, the $595,800 loan carries estimated PMI of 0.72% ($357/mo), which drops off after about 9 years once the balance reaches 80% of the price.
Massachusetts has the 16th-highest effective property tax rate of the 50 states at 1.00% — $596 more a year than the 0.91% state average on a $662,000 home. Homeowners insurance averages $1,483 a year, the 8th-lowest premium nationally and $1,237 less than the typical state.
Loan Parameters
Total Monthly Payment
$5,009
Principal & Interest + Taxes + Insurance
APR 7.488%
Total Interest
$835,521
Total Cost
$1,710,159
Advanced Parameters
Private Mortgage Insurance (PMI)
Your down payment is below 20%. PMI is estimated at 0.72% annually and is removed here when your LTV reaches 80%.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Feb 2035
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $47,711 | $6,017 | $41,693 | $4,290 | $589,783 | $72,217 |
| Year 2 | $47,711 | $6,454 | $41,256 | $4,290 | $583,329 | $78,671 |
| Year 3 | $47,711 | $6,923 | $40,788 | $4,290 | $576,406 | $85,594 |
| Year 4 | $47,711 | $7,425 | $40,285 | $4,290 | $568,980 | $93,020 |
| Year 5 | $47,711 | $7,965 | $39,746 | $4,290 | $561,016 | $100,984 |
| Year 6 | $47,711 | $8,543 | $39,168 | $4,290 | $552,473 | $109,527 |
| Year 7 | $47,711 | $9,163 | $38,547 | $4,290 | $543,310 | $118,690 |
| Year 8 | $47,711 | $9,829 | $37,882 | $4,290 | $533,481 | $128,519 |
| Year 9 | $47,711 | $10,542 | $37,168 | $1,430 | $522,939 | $139,061 |
| Year 10 | $47,711 | $11,308 | $36,403 | — | $511,631 | $150,369 |
| Year 11 | $47,711 | $12,129 | $35,582 | — | $499,502 | $162,498 |
| Year 12 | $47,711 | $13,009 | $34,701 | — | $486,493 | $175,507 |
| Year 13 | $47,711 | $13,954 | $33,757 | — | $472,539 | $189,461 |
| Year 14 | $47,711 | $14,967 | $32,743 | — | $457,572 | $204,428 |
| Year 15 | $47,711 | $16,054 | $31,657 | — | $441,518 | $220,482 |
| Year 16 | $47,711 | $17,220 | $30,491 | — | $424,298 | $237,702 |
| Year 17 | $47,711 | $18,470 | $29,241 | — | $405,828 | $256,172 |
| Year 18 | $47,711 | $19,811 | $27,899 | — | $386,017 | $275,983 |
| Year 19 | $47,711 | $21,250 | $26,461 | — | $364,767 | $297,233 |
| Year 20 | $47,711 | $22,793 | $24,918 | — | $341,975 | $320,025 |
| Year 21 | $47,711 | $24,448 | $23,263 | — | $317,527 | $344,473 |
| Year 22 | $47,711 | $26,223 | $21,488 | — | $291,305 | $370,695 |
| Year 23 | $47,711 | $28,127 | $19,584 | — | $263,178 | $398,822 |
| Year 24 | $47,711 | $30,169 | $17,542 | — | $233,009 | $428,991 |
| Year 25 | $47,711 | $32,359 | $15,351 | — | $200,649 | $461,351 |
| Year 26 | $47,711 | $34,709 | $13,001 | — | $165,940 | $496,060 |
| Year 27 | $47,711 | $37,229 | $10,481 | — | $128,711 | $533,289 |
| Year 28 | $47,711 | $39,933 | $7,778 | — | $88,778 | $573,222 |
| Year 29 | $47,711 | $42,832 | $4,878 | — | $45,946 | $616,054 |
| Year 30 | $47,715 | $45,946 | $1,768 | — | $0 | $662,000 |
Conventional Loan numbers for Massachusetts
- Typical Massachusetts home value
- $662,000
- 10% down ($66,200) · Zillow, August 31, 2026
- Loan amount
- $595,800
- conforming in all 14 Massachusetts counties
- Estimated monthly payment
- $5,009
- APR 7.488%
- Massachusetts property tax
- 1.00%
- $552/mo
- Homeowners insurance
- $1,483/yr
- $124/mo
- Massachusetts conforming limit
- $832,750 – $1,249,125
- Above this, the loan is jumbo
- PMI
- 0.72% · $357/mo
- Drops off after 9 years
How much house can you afford in Massachusetts with a conventional loan?
Highest price where principal, interest, Massachusetts property tax, insurance and PMI stay within 28% of gross income —10% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $50,000 | $1,167 | $141,000 | $14,100 | 21% |
| $75,000 | $1,750 | $220,000 | $22,000 | 33% |
| $100,000 | $2,333 | $299,000 | $29,900 | 45% |
| $125,000 | $2,917 | $378,000 | $37,800 | 57% |
| $150,000 | $3,500 | $457,000 | $45,700 | 69% |
| $200,000 | $4,667 | $615,000 | $61,500 | 93% |
| $250,000 | $5,833 | $773,000 | $77,300 | 117% |
Conventional vs other loan types in Massachusetts
$662,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $66,200 | $595,800 | — | $357 PMI | $5,009 | 7.488% |
| FHA | 3.5% · $23,170 | $650,010 | UFMIP $11,180 | $297 MIP | $5,309 | 7.761% |
| VA | 0% · $0 | $676,233 | Funding fee $14,233 | $0 | $5,188 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $132,400 | $529,600 | — | $0 | $4,209 | 7.030% |
Frequently asked questions
What is the monthly payment on a $662,000 home with a conventional loan in Massachusetts?
Estimated $5,009 per month ($3,976 principal & interest, $552 property tax, $124 insurance, $357 PMI) at 7.03% for 30 years, with 10% down. APR 7.488%.
How much is PMI on a Massachusetts conventional loan?
At 90% loan-to-value, PMI is estimated at 0.72% a year ($357/mo). It can be removed once the balance reaches 80% of the home's original value.
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Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- CFPB — What is private mortgage insurance?
- Homeowners Protection Act (PMI cancellation at 78–80% LTV)
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.