Massachusetts home buyer stats
|Average Home Sale Price in MA1||$552,950|
|Minimum Down Payment in MA (3%)||$16,600|
|20% Down Payment in MA||$110,600|
|Average Credit Score in MA2||732|
|Maximum MA Home Buyer Grant3||5% of home price, or up to $25,000 (MassHousing)|
Down payment amounts are based on the state’s most recently available average home sale price. “Minimum” down payment assumes 3% down on a conventional mortgage with a minimum credit score of 620.
If you’re eligible for a VA loan (backed by the Department of Veterans Affairs) or a USDA loan (backed by the U.S. Department of Agriculture), you may not need any down payment at all.Verify your home buying eligibility in Massachusetts. Start here (Jan 22nd, 2023)