Are you interested in living in Maine? There are about 747,000 housing units In Pine Tree State. Homemade at the rate of 71%, according to the US Census Bureau 2018 American Community Survey, Maine is a popular place for home.
Maine’s median housing price is $ 197,500, well below the national average of $ 229,700. Although home values vary by region, they remain relatively average across the state, with most counties reporting an average of $ 269,200.
US News’ 2020 Best Maine Mortgage Lender
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Lender highlights
- Mortgage Type: ARM, traditional, FHA, first time homebuyer program, home equity lines of credit, refinance, VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: $ 5 million
- Better Business Bureau Rating: A +
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Different types of mortgages
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Annual percentage rate or closing cost rebate for qualifying Bank of America and Merrill Lynch clients
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No closing costs and no annual cash balance fees for balance transfers and HELOCs
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: Different
- Better Business Bureau Rating: A +
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Receives strong customer service rating from Better Business Bureau
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Offers a wide range of mortgage products
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Offers exclusive mortgage programs for first time buyers and manufactured homebuyers
main characteristics:
- Mortgage Type Offered: Traditional, FHA, VA, ARM, Refinance (Conventional), Refinance (FHA), Refinance (VA), Home Equity Loan
- Minimum FICO Credit Score: 500 with conditions
- Maximum debt-to-income ratio: 43% for FHA
- Maximum combined debt-to-value ratio: 90%
- JD Power Satisfaction Rating: Four out of five
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LoanDepot mortgages have a lifetime guarantee, meaning that if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fee and reimburse the appraisal fee.
Highlight:
- Mortgage Type Offered: ARM, FHA, VA, Refinance (FHA), USDA, Traditional, Refinance (Traditional)
- Minimum FICO Credit Score: 580 (FHA), other loans vary
- Maximum debt-to-income ratio: 60%
- JD Power Satisfaction Rating: Five out of five
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The complete loan procedure is available online.
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Wide variety of mortgage products.
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Good customer service rating.
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
- Minimum FICO Credit Score: 660
- Maximum loan amount: $ 1.5 million
- Better Business Bureau Rating: A +
What are mortgage rates in Maine?
Average interest rate for a 30 year fixed rate Customizing Mortgage in Maine 2.9%
. House interest rates Range from 2.5% to 3.63% In Maine.
What are today’s mortgage rates?
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Loan type |
Rate of this week |
Last week rate |
| 30-Year Fixed Rate Mortgage | 2.96% | 3.06% |
| 15-Year Fixed Rate Mortgage | 2.48% | 2.62% |
| 30-Year Fixed-Rate Jumbo Mortgage | 2.96% | 3.01% |
| 5/1 ARM | 3.04% | 3.03% |
| 5/1 Jumbo ARM | 2.92% | 2.89% |
* Rates up to November 13, 2020
mortgage calculator
Are you reaching your dream home? US News’ mortgage calculator will show you how much home you can buy.
What are some main homebuyer programs?
Main homebuyers can take help of down payment and closing costs from these menacing programs.
available to: Qualified homebuyers including first time homebuyers and veterans. Applicants must also have a 640 credit score.
Income Range: Vary by county (Revenue Range).
First time homebuyers ?: No.
Benefit: Low interest rates and low or no down payment options are required. Mortgages also come with Maine HOPE – Homeownership Protection for Unimposition. If a qualified borrower loses their job, menhosing may carry forward four mortgage payments for them.
Payment and closing cost assistance: Advantage can be combined with down payment and closing cost assistance.
available to: Borrowers using MainHosing First Home, Selute ME or Mobile Home Self Insured Home Mortgage. Applicant A homeowner-approved homebuyer education class must be taken prior to closing and a minimum borrower contribution of 1% of the loan. The cost of a homebuyer education class counts for a 1% contribution.
Income Range: Vary by county (Revenue Range).
First time homebuyers ?: No.
Payment and closing cost assistance: The benefit can provide you with $ 3,500 toward the cash required for payment or closing costs.
available to: Qualified active duty, veteran, and retired military personnel who are homebuying or homebuying for the first time.
Income Range: Vary by county (Revenue Range).
First time homebuyers ?: No.
profit: 0.25% discount on interest rate on first home loan.
Payment and closing cost assistance: Advantage can be combined with down payment and closing cost assistance.
Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising customers of US News. Advertising considerations can influence where offers appear on the site but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.