How much house can I afford in Massachusetts?

All-in cost first, always. Estimate only — not a loan quote or pre-approval.

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Massachusetts at a glance

Median home price
$690,000
Typical closing costs
2%–5% of price
Transfer tax
0.456% of sale price, customarily paid by seller
Closing custom
attorney
Homestead exemption
Massachusetts has no broad, automatic, statewide ad-valorem homestead property tax exemption like FL or LA. Instead, under M.G.L. c. 59, § 5C, individual cities and towns may OPTIONALLY adopt a local 'residential exemption' that shifts a larger share of the tax burden from owner-occupied homes to non-owner-occupied and commercial property; most Massachusetts municipalities have not adopted it, but several major cities have, including Boston (saved qualifying homeowners up to $4,353.74 in the most recent fiscal year measured), Cambridge, and Somerville. Where adopted, owners must occupy the property as their primary residence as of January 1 and file an application by the town's deadline (e.g. April 1 for the following fiscal year in Boston); only one property per owner qualifies. Separately, Massachusetts's 'Declaration of Homestead' (M.G.L. c. 188) is an unrelated creditor-protection filing, not a property tax benefit, and is not reflected in this field.

First-time buyer / down payment assistance programs

  • MassHousing Mortgage

    MassHousing (the state's affordable-housing finance agency) offers 30-year fixed-rate first mortgages (conventional and FHA) through 80+ participating lenders statewide, with more flexible income and credit requirements than typical conventional loans; can be paired with MassHousing's own down payment assistance. A 'Purchase and Renovation' variant finances a purchase and renovation costs in a single loan. Minimum credit scores generally range 640-700 depending on loan type, property type, and loan-to-value ratio.

  • MassHousing Down Payment Assistance (DPA)

    Up to $30,000 in down payment assistance, structured as a second loan and available statewide, paired with a MassHousing first mortgage. Three repayment structures: (1) 0%-interest deferred loan up to $30,000, repaid at sale/refinance/payoff; (2) 15-year amortizing loan at 2% APR, max $25,000; (3) 15-year amortizing loan at 3% APR, max $25,000.

Continue calculating

Mortgage payment calculator

Estimated all-in monthly payment for a home price you have in mind.

First-time buyer programs

Check which down payment assistance programs you likely qualify for.

Take-home pay calculator

What actually reaches your account after federal tax, FICA, and your state's own brackets — with local income tax disclosed rather than guessed at.

Related reading

Closing Costs in Massachusetts: What You'll Actually Pay

8 min read

Massachusetts' deed excise tax is customarily the seller's bill, but a 2-5% buyer range on the $690,000 median still means $13,800 to $34,500 at closing.

What Is PMI, and How Do You Get Rid of It?

15 min read

Private mortgage insurance explained in plain English — what it costs, why it exists, the exact federal rules for cancelling it, and how to work out the month your PMI is scheduled to end.

Guides & templates

Buying a Home With Someone Else

$4.99

The operational guide to buying property with a partner, friend, sibling, or parent — credit and DTI mechanics, title vesting, a clause-by-clause co-ownership agreement, and how the exit actually works.

The First-Time Buyer's Playbook: 12 Months to Closing Day

$4.99

A month-by-month plan for the year before you buy: what to do in each phase, what never to touch, how to document every dollar, and how to survive closing day.