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Bangor

Current Mortgage Rates in Bangor, Maine

Compare mortgage rates and fees for leading lenders in Bangor, ME. 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 lender offering the best mortgage rates in Bangor.

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

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Mortgage Rates in Bangor, ME as of August 19, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Bangor, ME Mortgage Rates Compare?

August 19, 2019

The current average rate for a 30 year fixed rate mortgage in Bangor is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Bangor, ME Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Bangor, Maine?

The median home value for Bangor, ME (Penobscot County) is $147,068

The median household income for Bangor, ME (Penobscot County) is $49,350

Based on current mortgage rates and a 10% down payment, you need to make $27,286 per year to buy the median priced home in Bangor

The home price you can afford to by based on household income in Bangor is 181% of the median home value which means housing prices are average

Bangor (Penobscot County) ranks 4 out of 16 counties in Maine and 1,955 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

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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: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Bangor, ME

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Bangor, ME

1 unit: $484,350

Additional Mortgage Resources for Bangor, ME Residents

Mortgage Rates for Maine Cities

Bangor Mortgage Rates

Kennebec Mortgage Rates

Lewiston Mortgage Rates

Portland Mortgage Rates

York Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index