Loan.AI

Best Mortgage Rates in Massachusetts — April 2026

Compare current Massachusetts mortgage rates across loan types. The average home price in Massachusetts is $600,000 with a property tax rate of 1.15%. Find the best rate for your Massachusetts home purchase or refinance.

Avg Home Price
$600,000
Property Tax Rate
1.15%
Median Income
$93,550
Population
7.0M

Current Massachusetts Mortgage Rates

Updated April 2026. Rates shown are averages — your rate depends on credit score, down payment, loan amount, and lender.

Loan TypeRateAPRMonthly P&I*
30-Year Fixed6.86%6.98%$3,148
20-Year Fixed6.63%6.73%$3,615
15-Year Fixed6.16%6.24%$4,091
10-Year Fixed5.96%6.03%$5,319
FHA 30-Year6.46%6.61%$3,021
VA 30-Year6.26%6.36%$2,958

*Monthly payment based on $480,000 loan (20% down on $600,000 avg home price). Does not include taxes or insurance.

Estimated Monthly Payment in Massachusetts

Full PITI breakdown for a $600,000 home with 20% down at 6.86%:

Principal & Interest$3,148
Property Taxes$575
Homeowners Insurance$175
Total Monthly (PITI)$3,898

Massachusetts First-Time Homebuyer Programs

MassHousing ONE Mortgage

The MassHousing offers programs to help first-time buyers in Massachusetts achieve homeownership. Benefits typically include:

  • Below-market interest rates for qualifying borrowers
  • Down payment assistance (up to 3-5% of purchase price)
  • Closing cost assistance programs
  • Homebuyer education and counseling
  • Compatible with FHA, VA, USDA, and conventional loans

Income limits, purchase price limits, and credit score requirements apply. Contact the MassHousing directly for current program details.

Popular Cities for Homebuying in Massachusetts

🏠Boston
🏠Worcester
🏠Springfield
🏠Cambridge
🏠Lowell

Ready to Find Your Best Rate in Massachusetts?

Compare personalized rates from 20+ lenders without affecting your credit score.

Join Waitlist — FreeCalculate Payment →

Massachusetts Mortgage FAQs

What are current mortgage rates in Massachusetts?+
As of April 2026, average mortgage rates in Massachusetts are approximately 6.86% for a 30-year fixed, 6.16% for a 15-year fixed, and 6.46% for an FHA 30-year loan. Rates vary based on your credit score, down payment, loan amount, and lender. Use our mortgage calculator to estimate your specific payment.
How much house can I afford in Massachusetts?+
With the average home price of $600,000 in Massachusetts and a median household income of $93,550, affordability depends on your debt-to-income ratio, down payment, and current rates. A general rule is your monthly payment (including taxes and insurance) should not exceed 28-33% of gross income. At current rates, a $600,000 home with 20% down would cost approximately $3,898/month.
What is the property tax rate in Massachusetts?+
The effective property tax rate in Massachusetts averages 1.15%. On the average home price of $600,000, that's approximately $6,900 per year or $575/month. Property taxes are a significant part of your monthly housing cost and vary by county.
Are there first-time homebuyer programs in Massachusetts?+
Yes! Massachusetts offers the MassHousing ONE Mortgage through the MassHousing. This program typically provides below-market interest rates, down payment assistance, and closing cost help for qualifying first-time buyers. Income limits and property value caps apply. Contact the MassHousing for current program details and eligibility.
Should I get a 15-year or 30-year mortgage in Massachusetts?+
A 15-year mortgage in Massachusetts currently offers rates around 6.16% vs 6.86% for 30-year, saving you significantly on interest. On a $480,000 loan, the 30-year payment is $3,148/month while a 15-year is $4,091/month. Choose 15-year if you can afford the higher payment; choose 30-year for more cash flow flexibility.
What credit score do I need to buy a home in Massachusetts?+
In Massachusetts, conventional loans typically require a 620+ credit score, FHA loans require 580+ (or 500+ with 10% down), and VA loans have no official minimum but lenders usually want 620+. Higher credit scores get better rates — a score of 760+ qualifies for the best rates in Massachusetts, potentially saving thousands over the life of the loan. The MassHousing programs may have specific credit requirements.

Massachusetts Mortgage Tools

🏠Mortgage Calculator🔄Refinance Calculator🏡HELOC Calculator📖Mortgage Guide

Mortgage Rates in Neighboring States

New Hampshire →Vermont →New York →Connecticut →Rhode Island →
← View All State Mortgage Rates