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Compare Bangor, ME 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 Bangor.
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Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Compare Today's Bangor, ME Mortgage Rates
November 29, 2023
Current mortgage rates in Bangor, ME 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 Bangor, ME Rates
National Average
Comparison
30 Year Fixed Rate
%
7.440%
15 Year Fixed Rate
%
6.760%
5/1 Adjustable Rate Mortgage
%
6.750%
How Affordable is Housing in Bangor, Maine?
Below we provide helpful information on the real estate market, home prices and housing affordability in Bangor. Understand how much you need to earn to afford a home in Bangor, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Bangor 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 Bangor is right for you.
The median home value for Bangor, ME (Penobscot County) is $210,743
Based on current mortgage rates and a 10% down payment, you need to make $43,964 per year to buy the median priced home in Bangor
With this income, you could qualify for a $189,668 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 Bangor is $1,018
The median household income for Bangor, ME (Penobscot County) is $57,071
Based on this income, you can afford a home valued at approximately $273,571
The home price you can afford to buy based on household income in Bangor is 130% of the median home value which means housing prices are average.
Bangor (Penobscot County) ranks 10 out of 16 counties in Maine and 2,329 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Bangor, ME is average
Loan Limits for Bangor, Maine
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Bangor (Penobscot County) below.
Conforming loan limits for Bangor, ME
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Bangor, ME
1 unit:$472,030
2 units:$604,400
3 units:$730,525
4 units:$907,900
VA loan limits for Bangor, ME
1 unit:$726,200
Additional Mortgage Resources for Bangor, ME Residents