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Maine

Current Maine Mortgage Rates

Compare Maine 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 Maine.

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

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Maine Mortgage Rates as of April 12, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Maine Mortgage Rates

April 12, 2024

Current mortgage rates in Maine 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
Maine Rates
National
Average
Comparison
30 Year Fixed Rate
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6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Maine?

Below we offer valuable insights on the housing market and real estate prices in Maine. Understand how much you need to make to buy a house in Maine, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Maine is affordable for you. We provide this helpful information to help you decide if living in Maine is right for you.

The median home value for Maine is $289,243

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Maine is $60,341

With this income, you could qualify for a $260,318 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 Maine is $1,397

The median household income for Maine is $66,410

Based on this income, you can afford a home valued at approximately $318,334

The home price you can afford to buy based on household income in Maine is 110% of the median home value which means housing prices are average. Maine ranks 29 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Maine is average

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Additional Mortgage Resources for Maine Residents

Mortgage Rates for Maine Cities

Bangor Mortgage Rates

Kennebec Mortgage Rates

Lewiston Mortgage Rates

Portland Mortgage Rates

York Mortgage Rates