VA Loan Calculator — Massachusetts
An eligible VA borrower can buy the typical Massachusetts home ($662,000) with no down payment. The 2.15% first-use funding fee ($14,233) is rolled into a $676,233 loan, and there is no monthly mortgage insurance — saving about $297 a month versus FHA MIP on the same home.
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
$5,188
Principal & Interest + Taxes + Insurance · no mortgage insurance
APR 7.242%
Total Interest
$948,311
Total Cost
$1,867,634
Advanced Parameters
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
N/A
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $54,152 | $6,830 | $47,322 | — | $669,403 | -$7,403 |
| Year 2 | $54,152 | $7,326 | $46,826 | — | $662,078 | -$78 |
| Year 3 | $54,152 | $7,857 | $46,294 | — | $654,220 | $7,780 |
| Year 4 | $54,152 | $8,428 | $45,724 | — | $645,792 | $16,208 |
| Year 5 | $54,152 | $9,040 | $45,112 | — | $636,752 | $25,248 |
| Year 6 | $54,152 | $9,696 | $44,455 | — | $627,056 | $34,944 |
| Year 7 | $54,152 | $10,400 | $43,751 | — | $616,656 | $45,344 |
| Year 8 | $54,152 | $11,156 | $42,996 | — | $605,500 | $56,500 |
| Year 9 | $54,152 | $11,966 | $42,186 | — | $593,535 | $68,465 |
| Year 10 | $54,152 | $12,834 | $41,317 | — | $580,700 | $81,300 |
| Year 11 | $54,152 | $13,766 | $40,385 | — | $566,934 | $95,066 |
| Year 12 | $54,152 | $14,766 | $39,386 | — | $552,168 | $109,832 |
| Year 13 | $54,152 | $15,838 | $38,314 | — | $536,330 | $125,670 |
| Year 14 | $54,152 | $16,988 | $37,164 | — | $519,342 | $142,658 |
| Year 15 | $54,152 | $18,222 | $35,930 | — | $501,120 | $160,880 |
| Year 16 | $54,152 | $19,545 | $34,607 | — | $481,576 | $180,424 |
| Year 17 | $54,152 | $20,964 | $33,188 | — | $460,612 | $201,388 |
| Year 18 | $54,152 | $22,486 | $31,666 | — | $438,126 | $223,874 |
| Year 19 | $54,152 | $24,119 | $30,033 | — | $414,008 | $247,992 |
| Year 20 | $54,152 | $25,870 | $28,282 | — | $388,138 | $273,862 |
| Year 21 | $54,152 | $27,748 | $26,403 | — | $360,390 | $301,610 |
| Year 22 | $54,152 | $29,763 | $24,389 | — | $330,627 | $331,373 |
| Year 23 | $54,152 | $31,924 | $22,227 | — | $298,703 | $363,297 |
| Year 24 | $54,152 | $34,242 | $19,909 | — | $264,460 | $397,540 |
| Year 25 | $54,152 | $36,728 | $17,423 | — | $227,732 | $434,268 |
| Year 26 | $54,152 | $39,395 | $14,756 | — | $188,337 | $473,663 |
| Year 27 | $54,152 | $42,256 | $11,896 | — | $146,081 | $515,919 |
| Year 28 | $54,152 | $45,324 | $8,828 | — | $100,757 | $561,243 |
| Year 29 | $54,152 | $48,615 | $5,537 | — | $52,142 | $609,858 |
| Year 30 | $54,149 | $52,142 | $2,007 | — | $0 | $662,000 |
VA Loan numbers for Massachusetts
- Typical Massachusetts home value
- $662,000
- 0% down ($0) · Zillow, August 31, 2026
- Loan amount
- $676,233
- Includes $14,233 financed funding fee
- Estimated monthly payment
- $5,188
- APR 7.242%
- Massachusetts property tax
- 1.00%
- $552/mo
- Homeowners insurance
- $1,483/yr
- $124/mo
- VA funding fee (first use)
- 2.15% · $14,233
- Financed; exempt with VA disability compensation
- Monthly savings vs FHA MIP
- $297/mo
- Same $662,000 home, FHA at 3.5% down
How much house can you afford in Massachusetts with a va loan?
Highest price where principal, interest, Massachusetts property tax and insurance, with the 2.15% VA funding fee financed and no monthly mortgage insurance stay within 28% of gross income —0% 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 | $136,000 | $0 | 21% |
| $75,000 | $1,750 | $212,000 | $0 | 32% |
| $100,000 | $2,333 | $288,000 | $0 | 44% |
| $125,000 | $2,917 | $365,000 | $0 | 55% |
| $150,000 | $3,500 | $441,000 | $0 | 67% |
| $200,000 | $4,667 | $593,000 | $0 | 90% |
| $250,000 | $5,833 | $746,000 | $0 | 113% |
VA 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 va loan in Massachusetts?
Estimated $5,188 per month ($4,513 principal & interest, $552 property tax, $124 insurance) at 7.03% for 30 years, with 0% down. APR 7.242%.
How much is the VA funding fee on a $662,000 Massachusetts home?
$14,233 (2.15%) for a first-time user with no down payment. Putting 5% down lowers it to 1.5%, and 10% down to 1.25%.
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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
- VA — Funding fee and closing costs
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.