Buying a home
Data from November 2026
Buying a home in Maine
A typical home in Maine is worth $296,600 (Average 2020–2024). The FHA limit for one unit is $541,287–$615,250 depending on the county. Here is the minimum down payment each loan type asks at that price, every county’s limit, and the state’s assistance programs.
Key numbers in Maine
- Typical home
- $296,600
- median value, Average 2020–2024
- 11% less than the U.S.
- FHA limit
- $541,287–$615,250
- one unit, by county
- In 3 of the 16 counties, the limit is above the national floor ($541,287).
- Conforming limit
- $832,750
- one unit, 2026 data
- Above this amount, the loan is a “jumbo” loan.
- Minimum FHA down payment
- $10,381
- 3.5% of a $296,600 home
- VA and USDA ask for no down payment if you qualify.
Down payment
How much each loan asks up front
For a $296,600 home, the typical value in Maine. The minimum down payment is each program’s rule. The monthly figure is an example of principal and interest over 30 years at the 7.18% average rate (November 5, 2026): no taxes, insurance or mortgage insurance.
Your price, rate and down payment will differ: run the calculator with your numbers. Closing costs are extra.
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FHA Program rule
Minimum down3.5%
In dollars$10,381
Per month$1,939
With a credit score of 580 or more. Carries mortgage insurance (MIP) up front and every month.
HUD Handbook 4000.1 (Update 18), II.A.2.a.iv — Minimum Required Investment · In effect since September 14, 2016
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Conventional Program rule
Minimum down3%
In dollars$8,898
Per month$1,949
3% is the lowest standard option. With less than 20% down you pay private mortgage insurance (PMI) until you have more equity.
Fannie Mae Selling Guide B5-6-01 — HomeReady Mortgage Loan and Borrower Eligibility · In effect since January 1, 2024
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VA Program rule
Minimum down0%
In dollars$0
Per month$2,009
For veterans, service members and some spouses. No down payment as long as the price is not above the appraisal; charges a one-time funding fee.
VA: Purchase loan — benefits · In effect since January 1, 2020
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USDA Program rule
Minimum down0%
In dollars$0
Per month$2,009
Only homes in eligible rural areas and households within USDA’s income limit. Finances the full price.
7 CFR §3555.103 — Maximum loan amount (Guaranteed Rural Housing Program) · In effect since December 9, 2013
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ITIN loans follow no federal rule: each lender sets its own down payment and rate, and usually asks for more. 15% is an example.
Loan limits
FHA and conforming limit in every county
FHA sets the limit by area: 3 of the 16 counties in Maine are high-cost and sit above the national floor ($541,287). The conforming limit is the most Fannie Mae and Freddie Mac will buy; above it, the loan is a “jumbo”.
| Cumberland County | $615,250 | $832,750 | $451,200 | High-cost |
|---|---|---|---|---|
| York County | $615,250 | $832,750 | $395,700 | High-cost |
| Sagadahoc County | $615,250 | $832,750 | $333,300 | High-cost |
| Lincoln County | $541,287 | $832,750 | $332,700 | National floor |
| Knox County | $541,287 | $832,750 | $324,900 | National floor |
| Hancock County | $541,287 | $832,750 | $310,400 | National floor |
| Waldo County | $541,287 | $832,750 | $257,700 | National floor |
| Androscoggin County | $541,287 | $832,750 | $252,800 | National floor |
| Kennebec County | $541,287 | $832,750 | $238,200 | National floor |
| Oxford County | $541,287 | $832,750 | $217,300 | National floor |
| Penobscot County | $541,287 | $832,750 | $214,100 | National floor |
| Franklin County | $541,287 | $832,750 | $194,700 | National floor |
| Piscataquis County | $541,287 | $832,750 | $170,200 | National floor |
| Somerset County | $541,287 | $832,750 | $166,900 | National floor |
| Washington County | $541,287 | $832,750 | $161,800 | National floor |
| Aroostook County | $541,287 | $832,750 | $149,700 | National floor |
- Cumberland $615,250$832,750
- York $615,250$832,750
- Sagadahoc $615,250$832,750
- Lincoln $541,287$832,750
- Knox $541,287$832,750
- Hancock $541,287$832,750
- Waldo $541,287$832,750
- Androscoggin $541,287$832,750
- Kennebec $541,287$832,750
- Oxford $541,287$832,750
- Penobscot $541,287$832,750
- Franklin $541,287$832,750
- Piscataquis $541,287$832,750
- Somerset $541,287$832,750
- Washington $541,287$832,750
- Aroostook $541,287$832,750
One unit. For 2- to 4-unit homes, each county page has the full table. Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD) (external site)
Down payment help
Maine programs for buyers
2 verified programs that put money toward the down payment or closing costs, or give a tax credit. With the source wording and the date we checked it.
Some help is a grant you never repay; other help is a second loan that is forgiven over the years or repaid when you sell. Each program’s tag says which kind it is.
See all programs-
First Home Loan Program — Advantage
Verified November 5, 2026
With the Maine state agency's First Home mortgage, the buyer gets $5,000 for the down payment and closing costs (up to $14,000 for 2- to 4-unit homes), with no second mortgage
- Grant
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First Generation Program
Verified November 5, 2026
Maine state agency mortgage with a rate 1% lower than its First Home mortgage and a $10,000 grant for the down payment and closing costs, with no second mortgage; for people who have never owned a home and never lived in a home their parents or guardians owned, or who were in foster care
- Grant
What the state publishes
Maine rules that change the math
Exemptions that lower property tax and taxes paid when the deed is recorded, summarized from the official page each one cites.
Property tax in MaineExemptions and caps
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Homestead exemption of up to $25,000 of value
The homestead exemption lowers the property tax of certain people who have owned homestead property in Maine for at least 12 months and make the home they occupy on April 1 their permanent residence. Eligible property is exempt for up to $25,000 of its just value.
36 M.R.S. §§683, 683-A · Maine Revenue Services · Verified October 24, 2026
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State property tax deferral for owners 65 and older or with a disability
You can apply to defer the property taxes on your homestead if, on April 1 of the year you apply, you are 65 or older or unable to be employed because of a disability. For applications filed after January 1, 2024, income for the prior year must be under $80,000 (all owners together if there is more than one), and liquid assets (such as bank accounts) under $100,000 for a sole owner or under $150,000 for all owners together. The home must also receive the homestead exemption. The claim is filed with the municipal assessor after January 1 and no later than April 1 of the first year you claim the deferral.
36 M.R.S. §6251(1) · Maine Legislature (Maine Revised Statutes, Title 36) · Verified October 24, 2026
When the sale is recorded
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State real estate transfer tax
The tax is $2.20 for each $500 (or fraction of $500) of the value of the property transferred. Half is imposed on the seller and half on the buyer. For transfers on or after November 1, 2025, when the value is over $1 million, an additional $3.80 is charged on each $500 (or fraction) of the part above $1 million.
36 M.R.S. §4641-A(1) · Maine Revenue Services · Verified October 24, 2026
Your next steps
Where to go next in Maine
What you can do today, free and without giving personal information. Go in order: your numbers first, then the help.
- Run the numbers with your figures
The Maine calculator already has the typical value, the average rate and the state’s property tax.
- Check whether you qualify for help
Each program says what it gives, who qualifies and when we checked it.
- Talk to a counselor for free
7 HUD-approved agencies help you prepare to buy; 2 say they serve in Spanish.
- Follow the steps to buy a home
From the budget to the keys, in order.
Frequently asked questions
How much down payment do I need for a typical home in Maine?
For a $296,600 home (typical value, Average 2020–2024), the FHA minimum (3.5%) is $10,381 and the conventional minimum (3%) is $8,898. VA and USDA ask no down payment if you qualify. State programs can cover part of it.
Are there high-cost counties in Maine?
Yes. In 2026 data, 3 of the 16 counties in Maine have an FHA limit above the national floor ($541,287); the highest is Cumberland County ($615,250).
What is the conforming loan limit in Maine?
In 2026 data, the conforming limit for one unit is $832,750 in every county in Maine: the most Fannie Mae and Freddie Mac will buy. Above it, the loan is a “jumbo” and each lender sets its own terms.
What would the monthly payment be on a typical home in Maine?
With $296,600, the FHA minimum down payment ($10,381) and the 7.18% average rate (November 5, 2026), principal and interest over 30 years comes to about $1,939 a month. Tax, insurance and mortgage insurance are missing: the calculator adds them.
What down payment help is there in Maine?
We have verified 2 state programs in Maine that put money toward the down payment or closing costs, or give a tax credit. Each shows the source wording, who qualifies and the date we checked it.