Mortgage on a $350K house in Massachusetts
$2,354 a month with 20% down — $1,884 principal and interest plus $295 property tax and $175 insurance.
Massachusetts's typical property tax is 1.01% of the home's value a year (U.S. average 0.9%), which adds $295 a month on a $350K home. The typical home in Massachusetts is worth $655,219, so $350K is 47% below the typical price.
$350K home in Massachusetts: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $70,000 | $280,000 | $1,884 | $0 | $470 | $2,354 | $100,900 |
| 10% down | $35,000 | $315,000 | $2,119 | $131 | $470 | $2,720 | $116,600 |
| 5% down | $17,500 | $332,500 | $2,237 | $139 | $470 | $2,845 | $121,900 |
| 3.5% down (FHA) | $12,250 | $343,661 | $2,312 | $155 | $470 | $2,937 | $125,900 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.01% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Massachusetts does $350K buy a typical home?
In these counties the typical home value is within 15% of $350K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Hampden County | $351,040 | 1.49% | $2,493 |
| Franklin County | $369,047 | 1.43% | $2,477 |
| Berkshire County | $389,996 | 1.32% | $2,444 |
0 of 14 Massachusetts counties tracked by Zillow have a typical home value at or below $350K. See all Massachusetts home prices.
Other prices in Massachusetts
Frequently asked questions
What is the mortgage on a $350K house in Massachusetts?
About $2,354 a month with 20% down at 7.11%: $1,884 principal and interest, $295 property tax and $175 insurance.
How much do I need to make to buy a $350K house in Massachusetts?
About $100,900 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $350K house in Massachusetts?
At Massachusetts's typical effective rate of 1.01%, about $3,542 a year. Rates vary by county and city — see the county pages.