Mortgage on a $850K house in Massachusetts
$5,716 a month with 20% down — $4,574 principal and interest plus $717 property tax and $425 insurance.
Massachusetts's typical property tax is 1.01% of the home's value a year (U.S. average 0.9%), which adds $717 a month on a $850K home. The typical home in Massachusetts is worth $655,219, so $850K is 30% above the typical price.
$850K home in Massachusetts: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $170,000 | $680,000 | $4,574 | $0 | $1,142 | $5,716 | $245,000 |
| 10% down | $85,000 | $765,000 | $5,146 | $319 | $1,142 | $6,607 | $283,200 |
| 5% down | $42,500 | $807,500 | $5,432 | $336 | $1,142 | $6,910 | $296,200 |
| 3.5% down (FHA) | $29,750 | $834,604 | $5,614 | $376 | $1,142 | $7,132 | $305,700 |
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 $850K buy a typical home?
In these counties the typical home value is within 15% of $850K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Middlesex County | $804,837 | 1.03% | $5,729 |
| Norfolk County | $764,424 | 1.06% | $5,751 |
| Barnstable County | $757,449 | 0.67% | $5,477 |
| Suffolk County | $738,589 | 0.66% | $5,466 |
12 of 14 Massachusetts counties tracked by Zillow have a typical home value at or below $850K. See all Massachusetts home prices.
Other prices in Massachusetts
Frequently asked questions
What is the mortgage on a $850K house in Massachusetts?
About $5,716 a month with 20% down at 7.11%: $4,574 principal and interest, $717 property tax and $425 insurance.
How much do I need to make to buy a $850K house in Massachusetts?
About $245,000 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $850K house in Massachusetts?
At Massachusetts's typical effective rate of 1.01%, about $8,603 a year. Rates vary by county and city — see the county pages.