Mortgage Payment Analyzer
Calculate your complete monthly housing cost including principal, interest, taxes, insurance, PMI, and HOA fees.
Greater Boston avg: ~1.5% of home value
MA avg: $1,500-$3,000/year
Total Monthly Payment
$5,476
Estimated monthly housing cost
Principal & Interest
Your loan payment that goes toward paying off the principal balance and accrued interest. This stays constant for fixed-rate mortgages.
Property Tax & Insurance
Massachusetts property tax (~1.5% annually) and homeowners insurance (~$2K/year). These are typically escrowed with your mortgage payment.
PMI (< 20% Down)
Private Mortgage Insurance required if you put down less than 20%. Typically 0.5-1% of loan amount annually until you reach 20% equity.
Affordability Guidelines
28% Front-End Ratio
Your total monthly housing cost (PITI + HOA) should not exceed 28% of your gross monthly income.
Example: $10,000/month income → max $2,800 housing cost
36% Back-End Ratio
Your total debt payments (housing + car + credit cards + student loans) should not exceed 36% of gross income.
Example: $10,000/month income → max $3,600 total debt
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Work with mortgage brokers who understand the Greater Boston market and can help you secure the best rates and terms.
Get Mortgage Pre-ApprovalMortgage Disclaimer
Namaste Boston Homes is not a lender or a registered mortgage broker. Any mortgage rates, calculator results, or financial examples found on this site are for illustrative and educational purposes only. They do not constitute a loan estimate or an offer to lend. Please consult with a qualified mortgage professional for your specific situation.