Maine mortgage payment calculator

All-in cost first, always. Estimate only — not a loan quote or pre-approval.

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Rate via FRED

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Maine at a glance

Median home price
$428,478
Typical closing costs
2%–5% of price
Transfer tax
0.44% of sale price, customarily paid by split between buyer and seller
Closing custom
varies
Homestead exemption
Maine's homestead exemption reduces the assessed value of a permanent resident's primary home by $25,000 for property tax purposes (not an automatic credit — must file an application with the municipality by April 1). Requires the applicant to have owned a home in Maine for the preceding 12 months and to occupy the property as a permanent residence. Effective for tax years beginning April 1, 2026, the full $25,000 exemption is extended to homeowners age 65+ or veterans regardless of the municipality's assessment ratio (previously the effective benefit could be reduced in municipalities assessing below 100% of value).

First-time buyer / down payment assistance programs

  • MaineHousing First Home Loan Program

    MaineHousing's (Maine State Housing Authority) primary low fixed-rate first mortgage for first-time homebuyers statewide, with options for little-to-no down payment; can be paired with the 'Advantage' down payment/closing-cost assistance option.

  • MaineHousing Advantage Down Payment and Closing Cost Assistance

    $5,000 toward down payment/closing costs, provided as part of a First Home Loan (not a separate second mortgage, no added interest rate) — $8,000/$11,000/$14,000 for 2/3/4-unit properties respectively under the Multi-Unit Advantage variant. Usable with FHA, VA, RD, and MaineHousing Self-Insured/Uninsured mobile home loans.

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Affordability calculator

Income, savings, and debts in — max home price and qualification signal out.

PMI removal calculator

When your PMI is scheduled to end, by law and by request.

Mortgage points calculator

Should you buy down your rate? Break-even and lifetime cost comparison.

Related reading

Closing Costs in Maine: What You'll Actually Pay

9 min read

Maine's transfer tax splits 50-50 by statute, so a buyer at the $428,478 median pays only $943 — yet cash to close at 20% down still tops $100,000.

What Is PMI, and How Do You Get Rid of It?

15 min read

Private mortgage insurance explained in plain English — what it costs, why it exists, the exact federal rules for cancelling it, and how to work out the month your PMI is scheduled to end.

Guides & templates

Buying a Home With Someone Else

$4.99

The operational guide to buying property with a partner, friend, sibling, or parent — credit and DTI mechanics, title vesting, a clause-by-clause co-ownership agreement, and how the exit actually works.

The First-Time Buyer's Playbook: 12 Months to Closing Day

$4.99

A month-by-month plan for the year before you buy: what to do in each phase, what never to touch, how to document every dollar, and how to survive closing day.