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Boston

Compare Current Boston, Massachusetts Mortgage Rates

Compare Boston, MA mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Boston.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Boston. Plus, shopping lenders is free and there is no obligation.

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Boston, MA Mortgage Rates as of January 19, 2022
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Boston, MA Mortgage Rates Compare?

January 19, 2022

Current mortgage rates in Boston, MA are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Boston, MA Rates
National
Average
Comparison
30 Year Fixed Rate
%
3.450%
15 Year Fixed Rate
%
2.620%
5/1 Adjustable Rate Mortgage
%
2.570%

How Affordable is Housing in Boston, Massachusetts?

Below we provide helpful information on the real estate market, home prices and housing affordability in Boston. Understand how much you need to earn to afford a home in Boston, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Boston fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Boston is right for you.

The median home value for Boston, MA (Suffolk County) is $721,589

Based on current mortgage rates and a 10% down payment, you need to make $118,229 per year to buy the median priced home in Boston

With this income, you could qualify for a $649,430 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Boston is $2,738

The median household income for Boston, MA (Suffolk County) is $83,830

Based on this income, you can afford a home valued at approximately $511,641

The home price you can afford to buy based on household income in Boston is 71% of the median home value which means housing prices are very expensive. Boston (Suffolk County) ranks 12 out of 14 counties in Massachusetts and 3,119 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Boston, MA is very expensive

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Loan Limits for Boston, Massachusetts

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Boston (Suffolk County) below.

Conforming loan limits for Boston, MA

1 unit: $770,500
2 units: $986,400
3 units: $1,192,300
4 units: $1,481,750

FHA loan limits for Boston, MA

1 unit: $770,500
2 units: $986,400
3 units: $1,192,300
4 units: $1,481,750

VA loan limits for Boston, MA

1 unit: $770,500

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