Estimate your monthly mortgage payment in Maine — principal & interest plus Maine property tax and homeowner’s insurance.
Buying a home in Maine: what to know
Maine’s typical home value of $415,552 (Zillow ZHVI, August 2026) exceeds the national figure, pushed up by coastal demand from Portland to Bar Harbor. The effective property tax rate of 0.98% sits just above the national average, and the $25,000 homestead exemption trims bills for primary residences. Insurance averages about $1,077 a year (NAIC 2022), relatively low given nor’easter and ice-dam exposure. MaineHousing (Maine State Housing Authority) offers the First Home Loan with little or no down payment, the $5,000 Advantage grant, and Salute ME rate discounts for veterans and active military.
Maine mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750Maine uses the standard 2026 baseline of $832,750 for a one-unit home in all 16 counties, including coastal Cumberland and Hancock; no high-cost counties. |
| Median home price | $415,552 |
| Median effective property tax rate | 0.98% |
| Average homeowner’s insurance | $1,077/year |
Data as of October 2026. Sources: FHFA 2026 conforming limits (Nov 2025 announcement; county tables via FHFA-derived sources); Zillow ZHVI Aug 2026 (via Mid Coast Today county series); Tax Foundation Property Taxes by State and County 2026 (2024 ACS); NAIC 2022 HO-3 premiums via Insurance Information Institute (May 2025); MaineHousing program materials.; rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Maine first-time buyer programs
- MaineHousing First Home Loan Program — 30-year fixed-rate mortgage (FHA, VA, USDA, or conventional) with little or no down payment for buyers who have not owned in the past three years. Requires 640+ credit, income and purchase-price limits, and homebuyer education. Official site
- MaineHousing Advantage Grant — Non-repayable grant of up to $5,000 toward down payment and closing costs when paired with a MaineHousing First Home Loan. Requires homebuyer education and at least a 1% borrower contribution, which may be a gift. Official site
How to use this calculator
The calculator is pre-filled with Maine’s $415,552 typical home value, the 0.98% effective property tax rate, and $1,077 per year for homeowner’s insurance. Maine’s 2026 conforming limit is $832,750 in every county, so the calculator flags loans above that as jumbo. If you are shopping Portland or the midcoast, where values run well above the state median, raise the price field to match, and remember that heating costs are a major Maine ownership expense beyond the PITI payment shown here.
Worked example: a median Maine home
Take a median-priced Maine home at $415,552. With 20% down ($83,110.40), the loan amount is $332,441.60. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $2,301.76/month. Add property tax of about $339.37/month (0.98% of $415,552, divided by 12) and insurance of about $89.75/month ($1,077 a year), for a total estimated payment of $2,730.88/month. Over 30 years, total interest would be about $496,191.45. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the 2026 conforming loan limit in Maine?
The 2026 conforming loan limit for a one-unit home in Maine is $832,750 in all 16 counties. Even the priciest coastal counties, Cumberland and Hancock, remain at the baseline, so Maine has no designated high-cost counties.
How much are property taxes in Maine?
Maine’s median effective property tax rate is about 0.98% (Tax Foundation 2026), roughly $4,072 a year on the $415,552 typical home. The homestead exemption removes $25,000 of assessed value for primary residences, so claim it after closing.
What first-time homebuyer programs does Maine offer?
MaineHousing’s First Home Loan offers low- or no-down-payment 30-year fixed mortgages, and the Advantage Grant adds up to $5,000 that never has to be repaid. The Salute ME and Salute Home Again programs give veterans and active-duty buyers a rate discount and waive the first-time-buyer rule.
How much does homeowner’s insurance cost in Maine?
The average HO-3 premium was about $1,077 a year in 2022 (NAIC via III), below the national average. Coastal buyers should consider wind coverage and water-backup endorsements, since nor’easters and ice dams are the main claim drivers.
What non-mortgage costs should Maine buyers budget for?
Heating is the big one: many Maine homes run on oil or propane, and winter heating bills can rival the tax escrow line. Get the heating system’s age and fuel type during inspection, and budget for winterization if the home is older.