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Kennebec

Current Mortgage Rates in Kennebec, Maine

Compare mortgage rates and fees for leading lenders in Kennebec, 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 Kennebec.

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

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Mortgage Rates in Kennebec, ME as of August 24, 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 Kennebec, ME Mortgage Rates Compare?

August 24, 2019

The current average rate for a 30 year fixed rate mortgage in Kennebec 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
Kennebec, 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 Kennebec, Maine?

The median home value for Kennebec, ME is $169,787

The median household income for Kennebec, ME is $51,648

Based on current mortgage rates and a 10% down payment, you need to make $31,501 per year to buy the median priced home in Kennebec

The home price you can afford to by based on household income in Kennebec is 164% of the median home value which means housing prices are average

Kennebec ranks 9 out of 16 counties in Maine and 2,301 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Kennebec, ME is average

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Loan Limits for Kennebec, Maine

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Kennebec below.

Conforming loan limits for Kennebec, ME

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

FHA loan limits for Kennebec, ME

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

VA loan limits for Kennebec, ME

1 unit: $484,350

Additional Mortgage Resources for Kennebec, 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