»
»
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.

%
Mortgage Rates in Lewiston, ME as of January 21, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
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.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

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

January 21, 2020

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?

Below we provide helpful information on the real estate market, home prices and housing affordability in Lewiston. Understand how much you need to earn to afford a home in Lewiston, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Lewiston 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 Lewiston is right for you.

The median home value for Lewiston, ME (Androscoggin County) is $185,508

Based on current mortgage rates and a 10% down payment, you need to make $33,387 per year to buy the median priced home in Lewiston

With this income, you could qualify for a $166,957 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 Lewiston is $773

The median household income for Lewiston, ME (Androscoggin County) is $52,245

Based on this income, you can afford a home valued at approximately $290,291

The home price you can afford to buy based on household income in Lewiston is 156% of the median home value which means housing prices are average. Lewiston (Androscoggin County) ranks 11 out of 16 counties in Maine and 2,418 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

orange-simple-house
ruler

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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Lewiston, ME

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Lewiston, ME

1 unit: $510,400

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