Skip to content
Purchase Mortgage Loan
Get Pre-Approved

How to buy a home in Maine

Quick answer

To buy a home in Maine, most buyers use an FHA, conventional, VA or USDA loan, often combined with MaineHousing down payment assistance. With a typical home around $266,400, a 3.5% FHA down payment is about $9,324 and the estimated monthly payment is roughly $2,203 at a 7.18% rate.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Home prices in Maine sit near the middle of the national range, so the loan program you choose — and whether you add down payment assistance — can swing your upfront cash by thousands. Because Maine has a smaller population, local lenders and the state housing agency play an outsized role — it pays to compare a few loan officers. A household earning around $85,000 a year could comfortably afford a typical Maine home under the 31% housing guideline.

What does a home cost in Maine?

ItemMaine estimate
Typical home value$266,400
3% down (conventional)$7,992
3.5% down (FHA)$9,324
20% down$53,280
Est. monthly payment (FHA, 3.5% down)$2,203
Household income to afford (31%)$85,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

What first-time home buyer programs does Maine offer?

MaineHousing is Maine's housing finance agency. Its programs are offered through approved lenders and usually require homebuyer education plus income and purchase-price limits.

  • First Home Loan: Low fixed-rate loans for first-time buyers within income and price limits.
  • Advantage Down Payment Assistance: A set amount of down payment and closing cost assistance paired with the First Home Loan.

Check current terms at MaineHousing. Many Maine cities and counties also run their own down payment assistance.

What are the Maine loan limits for 2026?

Maine has 16 counties; 0 are high-cost areas. Here are the official 2026 one-unit limits for its most populous counties (FHFA and HUD):

CountyConformingFHA
Cumberland County$832,750$615,250
York County$832,750$615,250
Penobscot County$832,750$541,287
Kennebec County$832,750$541,287
Androscoggin County$832,750$541,287
Aroostook County$832,750$541,287
Oxford County$832,750$541,287
Hancock County$832,750$541,287
Somerset County$832,750$541,287
Knox County$832,750$541,287
Waldo County$832,750$541,287
Sagadahoc County$832,750$615,250

See all Maine county loan limits → VA loans have no limit for borrowers with full entitlement.

Which Maine down payment assistance programs are verified?

How much house can I afford in Maine?

Use Maine's own property tax rate and insurance average: $60k, $80k, $100k, $150k salaries, or see FHA requirements in Maine.

How do property taxes affect buying in Maine?

Homeowners in Maine pay a median of $2,926 a year in property taxes — an effective rate of about 1.10% of the median home value, above the national average (Census ACS). Actual rates vary by county and municipality.

Which loan types are popular in Maine?

  • Conventional Loan — Not government-backed; as little as 3% down for first-time buyers, PMI removable at 20% equity.
  • FHA Loan — Government-insured; 3.5% down with a 580 credit score and flexible debt-to-income rules.
  • VA Loan — For eligible veterans, service members and surviving spouses: 0% down and no monthly mortgage insurance.
  • USDA Loan — 0% down for moderate-income buyers in eligible rural and suburban areas.
  • Jumbo Loan — For loan amounts above the conforming limit; usually 10–20% down and 700+ credit.
  • First-Time Home Buyer Loans — Low-down-payment loans plus state assistance programs designed for first-time buyers.

Buying a home in Maine cities

Browse every city page →

Maine home buying FAQs

On a typical Maine home of about $266,400, a 3.5% FHA down payment is roughly $9,324 and a 3% conventional down payment about $7,992, plus closing costs of 2%–5% of the loan.

Yes. MaineHousing offers programs including First Home Loan, Advantage Down Payment Assistance. Income, price and credit limits apply.

The 2026 baseline conforming limit for a one-unit home is $832,750 in most Maine counties; designated high-cost counties can be higher.

FHA limits are set by county. For 2026 they start at $541,287 for one-unit homes in lower-cost areas and rise in higher-cost counties.

Sources

Data last updated October 23, 2026.

Get matched with Maine purchase lenders

Answer a few quick questions and get matched with purchase mortgage lenders in your area. Free, and it won't affect your credit score.

Get My Matches

Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.