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Payment Calculator

What Will My Monthly Mortgage Payments Be?

Enter the property's purchase price.

Condominum, Single Family or 2 Family:
Minimum down payment 3% of purchase price, 1.5% from your own funds, 1.5% can be a gift or grant
3-family:
Minimum down payment 5% of purchase price, 3% from your own funds, 2% can be a gift or grant

Select the community where the property is located.

All members of the household, including children, should be represented in the total household size.

Gross Annual Income::Annual income before taxes or deductions.

Estimated Interest Rate::This default interest rate is a typical ONE Mortgage rate currently offered by participating lenders. Mortgage interest rates are determined by participating lenders and vary by lender. Contact a participating lender for more information.

Select the type of property.

Property taxes are determined by dividing the taxable value of your home (i.e. the assessed value) by 1,000, then multiplying that number by the community's fiscal year tax rate.

The average homeowners insurance premium in Massachusetts is $995 per year (approximately $85 per month). Homeowners insurance rates vary, so you should shop around. Your payment is based on the amount of coverage you purchase. For example, if you insure your property for $100,000 and the rate is $6 per $1000, then your payment will be $600 per year ($50 per month).

The minimum monthly payment required on all non-housing obligations (i.e. auto payment, student loan payments, minimum payment on all credit cards).

Affordability Calculator

How Much Can I Afford with ONE Mortgage

Annual income before taxes or deductions.

For condo, single-family or 2-family: Down payment must be at least 3% of purchase price, 1.5% from your own funds, 1.5% can be a gift or grant.
For 3-family: Down payment must be at least 5% of purchase price, 3% from your own funds, 2% can be a gift or grant.

All members of the household, including children, should be represented in the total household size.

This default interest rate is a typical ONE Mortgage rate currently offered by participating lenders. Mortgage interest rates are determined by participating lenders and vary by lender. Contact a participating lender for more information.

Property taxes are determined by dividing the taxable value of your home (i.e. the assessed value) by 1,000, then multiplying that number by the community's fiscal year tax rate.

Homeowner's Insurance::This calculation assumes homeowners insurance of $995 per year - the average premium in Massachusetts. Homeowners insurance rates vary, so you should shop around. Your payment is based on the amount of coverage you get. For example, if you insure your property for $100,000 and the rate is $6 per $1000, then your payment will be $600 per year ($50 per month).

Other Monthly Debt::The minimum monthly payment required on all non-housing obligations (i.e. auto payment, student loan payments, minimum payment on all credit cards).