Maine Mortgage Calculator 2026

Calculate your monthly mortgage payment for a home in Maine (ME). The median home price in Maine is $266,400, with an effective property tax rate of 1.1% (ranked #18 nationally). Use our free calculator to compare FHA, VA, USDA, and conventional loan options with real Maine data.

Maine Property Tax Information

Maine has an effective property tax rate of 1.1%, ranking #18 among all 50 states. The median annual property tax is $2,926 ($244/month). Source: Tax Foundation 2025.

Maine Loan Limits 2026

FHA loan limit in Maine: $524,225 (floor) to $524,225 (ceiling for high-cost areas). Conforming loan limit: $806,500 (baseline) to $806,500 (ceiling).

Estimated Monthly Payment in Maine

For a median-priced home of $266,400 with 20% down ($53,280), at 6.5% interest over 30 years: estimated monthly principal and interest is $1,347, plus $244 in property taxes and approximately $125 in homeowner's insurance, for a total estimated payment of approximately $1,716/month.

Maine Closing Costs

Average closing costs in Maine are $3,437 (0.88% of purchase price), ranked #30 nationally. Maine charges a transfer tax on real estate transactions. Source: Bankrate/LodeStar 2025.

Maine Housing Market 2026

Home prices in Maine have increased 6.2% year-over-year. Average days on market: 25. Inventory level: low. Currently considered a seller's market.

Down Payment Assistance Programs in Maine

Maine offers 2 down payment assistance programs through Maine State Housing Authority (MaineHousing):

  • First Home Loan Program (forgivable loan): Forgivable over 5 years. Competitive first mortgage rates. - Up to Up to $5,000 or 5% of purchase price
  • Advantage Program (grant): Grant for closing costs and prepaid expenses. - Up to Up to $3,500

Contact MaineHousing: https://www.mainehousing.org | Phone: 207-626-4600

Did You Know About Maine?

  • Maine has seen significant price appreciation from remote workers
  • Portland metro is the most competitive market in the state
  • Many areas qualify for USDA rural development loans
  • Homestead exemption available for primary residences

Frequently Asked Questions About Buying a Home in Maine

What is the average property tax rate in Maine?

The effective property tax rate in Maine is 1.1%, with a median annual tax of $2,926. This ranks #18 among all states.

What are the FHA loan limits in Maine for 2026?

The FHA loan floor in Maine is $524,225 and the ceiling is $524,225 for high-cost areas. The conforming loan limit baseline is $806,500.

How much are closing costs in Maine?

Average closing costs in Maine are $3,437, which is approximately 0.88% of the purchase price.

Are there first-time homebuyer programs in Maine?

Yes, Maine offers 2 down payment assistance programs through Maine State Housing Authority, including grants, forgivable loans, and second mortgages.

Is Maine a good place to buy a home in 2026?

With a median home price of $266,400 and low inventory, Maine is currently a seller's market. Home prices have increased 6.2% over the past year.

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Data last updated: 2025-11. This information is for educational purposes only and should not be considered financial advice.