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Lewiston

Current Mortgage Rates in Lewiston, Maine

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

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

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Mortgage Rates in Lewiston, ME as of October 23, 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 Lewiston, ME Mortgage Rates Compare?

October 23, 2019

The current average rate for a 30 year fixed rate mortgage in Lewiston 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
Lewiston, ME Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Lewiston, Maine?

The median home value for Lewiston, ME (Androscoggin County) is $171,767

The median household income for Lewiston, ME (Androscoggin County) is $51,052

Based on current mortgage rates and a 10% down payment, you need to make $31,868 per year to buy the median priced home in Lewiston

The home price you can afford to buy based on household income in Lewiston is 160% of the median home value which means housing prices are average

Lewiston (Androscoggin County) ranks 11 out of 16 counties in Maine and 2,375 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Lewiston, Maine

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Lewiston (Androscoggin County) below.

Conforming loan limits for Lewiston, ME

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

FHA loan limits for Lewiston, ME

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

VA loan limits for Lewiston, ME

1 unit: $484,350

Additional Mortgage Resources for Lewiston, 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