Maine Mortgage Calculator 2026
Maine's housing market has been transformed by the remote work era, with Portland emerging as one of the most desirable small cities in the Northeast. The state's natural beauty and relatively affordable prices compared to Boston have attracted significant in-migration, though inventory is extremely tight.
Calculate Your Maine Mortgage Payment
Pre-filled with Maine averages — adjust any value to match your situation.
= $72,000 down
Estimated Monthly Payment Breakdown
Based on $360,000 home price, 20% down, 30-year fixed at 7.25%.
Maine Property Taxes & Income Tax
Maine's 1.36% property tax rate is above the national average. The Homestead Exemption reduces assessed value by $25,000 for primary residences. Maine's income tax tops out at 7.15%. The Property Tax Fairness Credit provides some relief for lower-income homeowners.
Maine Homeowners Insurance
Maine's insurance costs are moderate at $900–$1,300/year. The state faces winter storm risk including heavy snow, ice storms, and nor'easters. Coastal properties face some flood and storm surge risk. Budget $75–$110/month.
Maine Housing Market Overview
Portland has seen dramatic appreciation driven by remote workers and lifestyle buyers from Boston and New York. The rest of the state offers more affordable options, though inventory is tight statewide. Maine has significant USDA-eligible rural areas. The short construction season and limited buildable land constrain new supply.
Frequently Asked Questions
What is the average mortgage payment in Maine?
Based on Maine's median home price of $360,000, a 20% down payment, and a 30-year fixed rate of 7.25%, the estimated total monthly payment (PITI) is approximately $2,465/month.
What is the conforming loan limit in Maine?
The conforming loan limit in Maine is $766,550. Loans above this amount are jumbo loans requiring stronger credit and larger down payments.
Can I get a USDA loan in Maine?
Yes — Maine has USDA-eligible rural areas where qualifying buyers can purchase a home with zero down payment. Use the USDA eligibility map to check specific addresses.
Are VA loans available in Maine?
Yes — eligible veterans, active-duty service members, and surviving spouses can use VA loans in Maine with no down payment and no PMI. The VA loan limit in Maine is $766,550.
Maine Loan Limits
Maine Homebuyer Programs
Below-market interest rate mortgages with optional Advantage down payment assistance for qualifying first-time buyers.
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