Mortgage Calculator for Maine
Estimate your monthly payment in Maine using adjustable example inputs and official housing resources.
Enter Your Loan Details
Defaults are illustrative inputs, not local averages. Replace taxes, insurance and rate with property-specific estimates.
Planning a purchase in Maine
The prefilled price, tax percentage, and interest rate are illustrative inputs, not verified Maine averages or lender quotes. Replace them with the property's price, a local tax estimate, an insurance quote, and your lender's rate.
Homestead relief has an ownership-history requirement
Maine's homestead exemption requires qualifying permanent residency and ownership of a home in Maine for the preceding twelve months. Application is made through the municipality; a new arrival should not assume immediate eligibility.
For your estimate: Ask the assessor when your eligibility begins and budget the earlier tax period without unconfirmed relief. Update Annual Property Tax (%) when the exemption is approved.
Maine Revenue: homestead exemption questionsAdvantage requires approved education before closing
MaineHousing's First Home Loan Advantage option requires a hoMEworks-approved homebuyer education class before closing and a minimum borrower contribution. These are conditions of receiving help with upfront costs.
For your estimate: Arrange the required class early and ask the lender what cash contribution remains. Assistance does not replace entering the actual rate and first-loan amount in the payment estimate.
MaineHousing: First Home Program questionsLocal guidance reviewed . Confirm eligibility, funding and property-specific costs directly before making a decision.
Using local estimates in this tool
The tax field multiplies the home's price by a percentage. If your assessor estimates an annual tax bill, divide that bill by the entered home price and multiply by 100. Do not enter an assessment ratio or millage directly. For example, an illustrative $4,800 annual bill on a $400,000 price corresponds to 1.2%; these are not local averages.
This payment includes principal, interest, property tax and home insurance. Budget mortgage insurance, HOA dues, maintenance and closing costs separately.
Official resources and next steps
HUD housing and homeownership resources for Maine provides further counseling and housing contacts.
For FHA financing, use HUD's county and unit-count lookup. Select Maine, the property's county, the calendar year, and the number of units. The 2026 national one-unit floor of $541,287 is a baseline, not a determination of the limit for every county in Maine.
HUD directory reviewed 2026-09-25. HUD state directory. Local figures are not represented as verified statistics.
Amortization Schedule
| Year | Principal Paid | Interest Paid | Tax Paid | Insurance Paid | Balance |
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How to Use This Mortgage Calculator in Maine
Enter the price of the property you are considering in Maine, then adjust the down payment and rate. The payment combines principal, interest, property tax, and insurance. It does not include HOA dues, maintenance, or mortgage insurance.
For example, at the illustrative price of $340,000 and 6% down, the base loan is $319,600. These are calculation examples, not a statement about prices or typical buyers in Maine.
Compare the same home under different rates and down payments. A lower monthly payment from a longer term can still mean more lifetime interest. Confirm taxes and insurance for the property before relying on the estimate.