Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Boston mortgage calculator
A median-priced Boston, MA home at 6.75% over 30 years, with Massachusetts property tax of 1.14% and $1,700 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$6,290 a month, all in
Principal and interest are $4,985; escrow and PMI add the rest. Over the full term the loan costs $1,026,045 in interest. Discounted at 5%, buying here has a net present value of $259,493 ($864,722 in today’s dollars).
Within Massachusetts, Boston is 2nd of the 5 Massachusetts markets covered here, between Cambridge at the top and Springfield at the bottom of a 3.36x spread. A state-level median hides most of that.
Boston carries a premium over the rest of Massachusetts: a median home here runs $854,000, about 40% above the state median of $610,000. The deposit moves with it, so the same 20% down is $170,800 rather than $122,000.
Rents here are high relative to prices — a rent index of 1.50 against a price index of 1.40. That combination favours buying sooner, because the payment you avoid is larger relative to the price you pay.
Monthly cost in Boston vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $854,000 |
|---|---|
| Down payment (10%) | $85,400 |
| Loan amount | $768,600 |
| Principal & interest | $4,985/mo |
| Property tax (1.14%) | $811/mo |
| Homeowners insurance | $142/mo |
| PMI while above 80% LTV | $352/mo |
| Total monthly payment | $6,290/mo |
| Comparable rent | $4,350/mo |
What a rate move does to the Boston payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $4,364/mo |
| 6% | $4,608/mo |
| 6.5% | $4,858/mo |
| 7% | $5,114/mo |
| 7.5% | $5,374/mo |
| 8% | $5,640/mo |
Rent or buy in Boston?
Against $4,350 a month in rent, over 7 years renting leaves you about $78,279 better off — $65,853 once 2.5% inflation is stripped out. See the Massachusetts rent-vs-buy page.
Where these numbers come from
Massachusetts medians come from editorial and are refreshed weekly. The Boston figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.