Maine · ME

Maine Mortgage Calculator

Pre-filled for Maine: median home price $380,000, average property tax rate 1.24%. Adjust any slider to make it yours.

Maine housing at a glance

Median home price: $380,000
Effective property tax rate: 1.24% / yr
Annual property tax (median home): $4,712
Est. monthly tax escrow: $393
State income tax: Yes

Sources: regional housing data 2025 (median price), state assessor averages 2024–2025 (tax rate).

Buying a home in Maine

The median home price in Maine is around $380,000 and the effective property tax rate averages 1.24%of assessed value per year. Most lenders look for a debt-to-income (DTI) ratio under 43%, meaning your total monthly debt payments (including this mortgage) shouldn't exceed 43% of your gross income.

A 20% down payment on the median home in Maine is $76,000. Putting down at least 20% eliminates private mortgage insurance (PMI), which typically adds 0.3–1.5% of the loan amount per year to your monthly payment.

Transfer tax & closing costs in Maine

Maine charges a real estate transfer tax of $2.20 per $500 of price (0.44%), typically split 50/50 between buyer and seller.

Beyond transfer taxes, total closing costs in Mainetypically range from 2–5% of the purchase price — including lender origination fees, title insurance, appraisal, and prepaid interest. On the median home that's roughly $7,600–$19,000.

Foreclosure & legal context

Foreclosure type: Judicial (court-supervised)
Security instrument: Mortgage
Deficiency liability: Recourse

Maine mortgage FAQ

What is the monthly mortgage payment for a median-priced home in Maine?: At the current 30-year fixed rate of ~6.81%, a $380,000 home in Maine with 20% down ($76,000) carries a principal-and-interest payment of ~$1,984/mo. Add property tax (~$393/mo at 1.24%) and homeowners insurance and your total is roughly $2,377/mo. Use the calculator above to adjust for your exact down payment and rate.
What is the property tax rate in Maine?: The effective statewide property tax rate in Maine averages 1.24% of assessed value per year. On a $380,000 home, that works out to roughly $4,712 per year ($393/mo). Individual county rates vary.
Does Maine have a state income tax?: Yes, Maine has a state income tax. This affects your net take-home pay and therefore your effective purchasing power — use our salary calculator to estimate what's left after tax.
What are the closing costs and transfer taxes in Maine?: Maine charges a real estate transfer tax of $2.20 per $500 of price (0.44%), typically split 50/50 between buyer and seller.
What type of foreclosure does Maine use?: Maine uses judicial foreclosure, meaning a lender must file a lawsuit and obtain a court judgment before selling a property.

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