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Best Mortgage Rates in Maine — April 2026

Compare current Maine mortgage rates across loan types. The average home price in Maine is $365,000 with a property tax rate of 1.24%. Find the best rate for your Maine home purchase or refinance.

Avg Home Price
$365,000
Property Tax Rate
1.24%
Median Income
$64,767
Population
1.4M

Current Maine Mortgage Rates

Updated April 2026. Rates shown are averages — your rate depends on credit score, down payment, loan amount, and lender.

Loan TypeRateAPRMonthly P&I*
30-Year Fixed6.86%6.98%$1,916
20-Year Fixed6.63%6.73%$2,200
15-Year Fixed6.16%6.24%$2,490
10-Year Fixed5.96%6.03%$3,236
FHA 30-Year6.46%6.61%$1,838
VA 30-Year6.26%6.36%$1,800

*Monthly payment based on $292,000 loan (20% down on $365,000 avg home price). Does not include taxes or insurance.

Estimated Monthly Payment in Maine

Full PITI breakdown for a $365,000 home with 20% down at 6.86%:

Principal & Interest$1,916
Property Taxes$377
Homeowners Insurance$106
Total Monthly (PITI)$2,399

Maine First-Time Homebuyer Programs

MaineHousing First Home Loan

The Maine State Housing Authority offers programs to help first-time buyers in Maine achieve homeownership. Benefits typically include:

  • Below-market interest rates for qualifying borrowers
  • Down payment assistance (up to 3-5% of purchase price)
  • Closing cost assistance programs
  • Homebuyer education and counseling
  • Compatible with FHA, VA, USDA, and conventional loans

Income limits, purchase price limits, and credit score requirements apply. Contact the Maine State Housing Authority directly for current program details.

Popular Cities for Homebuying in Maine

🏠Portland
🏠Lewiston
🏠Bangor
🏠Auburn

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Maine Mortgage FAQs

What are current mortgage rates in Maine?+
As of April 2026, average mortgage rates in Maine are approximately 6.86% for a 30-year fixed, 6.16% for a 15-year fixed, and 6.46% for an FHA 30-year loan. Rates vary based on your credit score, down payment, loan amount, and lender. Use our mortgage calculator to estimate your specific payment.
How much house can I afford in Maine?+
With the average home price of $365,000 in Maine and a median household income of $64,767, affordability depends on your debt-to-income ratio, down payment, and current rates. A general rule is your monthly payment (including taxes and insurance) should not exceed 28-33% of gross income. At current rates, a $365,000 home with 20% down would cost approximately $2,399/month.
What is the property tax rate in Maine?+
The effective property tax rate in Maine averages 1.24%. On the average home price of $365,000, that's approximately $4,526 per year or $377/month. Property taxes are a significant part of your monthly housing cost and vary by county.
Are there first-time homebuyer programs in Maine?+
Yes! Maine offers the MaineHousing First Home Loan through the Maine State Housing Authority. This program typically provides below-market interest rates, down payment assistance, and closing cost help for qualifying first-time buyers. Income limits and property value caps apply. Contact the Maine State Housing Authority for current program details and eligibility.
Should I get a 15-year or 30-year mortgage in Maine?+
A 15-year mortgage in Maine currently offers rates around 6.16% vs 6.86% for 30-year, saving you significantly on interest. On a $292,000 loan, the 30-year payment is $1,916/month while a 15-year is $2,490/month. Choose 15-year if you can afford the higher payment; choose 30-year for more cash flow flexibility.
What credit score do I need to buy a home in Maine?+
In Maine, conventional loans typically require a 620+ credit score, FHA loans require 580+ (or 500+ with 10% down), and VA loans have no official minimum but lenders usually want 620+. Higher credit scores get better rates — a score of 760+ qualifies for the best rates in Maine, potentially saving thousands over the life of the loan. The Maine State Housing Authority programs may have specific credit requirements.

Maine Mortgage Tools

🏠Mortgage Calculator🔄Refinance Calculator🏡HELOC Calculator📖Mortgage Guide

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