Maine Mortgage Guide 2026
Everything a Maine buyer needs in one place: 2026 FHA limits for all 16 counties, the $832,750 conforming limit, MaineHousing loans and assistance, how Maine property taxes and the homestead exemption work, and a closing cost breakdown built on the state’s transfer tax and recording fee.
Maine Loan Limits by County (2026)
Maine’s conforming loan limit is $832,750 in all 16 counties. FHA sits at the national floor of $541,287 in 13 counties, including the Bangor and Lewiston-Auburn areas, and is set higher at $615,250 in the three counties of the Portland-South Portland metro area.
| Area | Conforming Limit | FHA Limit | Notes |
|---|---|---|---|
| Cumberland, Sagadahoc and York counties (Portland-South Portland area) | $832,750 | $615,250 | Highest FHA limit in Maine |
| Androscoggin County (Lewiston-Auburn area) | $832,750 | $541,287 | National FHA floor |
| Penobscot County (Bangor area) | $832,750 | $541,287 | National FHA floor |
| All other 11 counties | $832,750 | $541,287 | National FHA floor |
FHA limits come from HUD and conforming limits come from FHFA — they are set by different agencies. Verify any county at the HUD FHA Mortgage Limits lookup. Figures above are CY2026, retrieved September 2026.
Comparing Maine Loan Programs
Most Maine buyers choose between five routes. The credit scores below are practical lender thresholds rather than published program minimums, except where a program sets its own.
| Program | Min Down | Min Credit | Best For |
|---|---|---|---|
| FHA | 3.5% | 580 | Buyers with thinner credit or limited savings |
| VA | 0% | No VA minimum (set by lender) | Veterans, active duty, and eligible spouses |
| USDA | 0% | No USDA minimum (640 is the automated-underwriting cutoff) | Eligible rural Maine addresses within income limits |
| Conventional | 3%–20% | Set by lender | Stronger credit, or avoiding FHA’s upfront and annual premiums |
| MaineHousing | Depends on the mortgage insurance chosen; 1% borrower contribution with Advantage | 640 | First-time buyers within MaineHousing limits |
HUD allows maximum FHA financing at a credit score of 580 or above and limits borrowers between 500 and 579 to 90% loan-to-value (HUD). VA states that it does not require a minimum credit score (VA), and USDA says its guaranteed program has no credit score requirement (USDA Rural Development). MaineHousing’s First Home Loan requires a minimum credit score of 640 (MaineHousing).
MaineHousing Home Loans
The Maine State Housing Authority, known as MaineHousing, is established by state law as a public body corporate and politic and an instrumentality of the State. Its First Home Loan offers low fixed interest rate mortgages through participating lenders.
| Program | Who It Is For | Key Terms |
|---|---|---|
| First Home Loan | Buyers with no ownership interest in a principal home in the past 3 years | Low fixed interest rate; income and purchase price limits; 640 minimum credit score |
| Advantage | First Home Loan borrowers | $5,000 toward the cash needed for closing; no second mortgage and no rate add-on |
| First Generation | Buyers who never lived in a home owned by their parents or legal guardians, or who were in foster care | $10,000 in down payment and closing cost assistance |
| Salute ME | Qualified active duty, veterans and retired military | 0.50% discount on the First Home Loan 30-year fixed rate, plus the $5,000 Advantage |
MaineHousing’s one-unit purchase price limits are $525,000 in the Bangor area and most of the state and $565,000 in the Portland and York/Kittery areas and in Cumberland, Sagadahoc and York counties. Check the MaineHousing income and purchase price limits before assuming you qualify.
Maine Property Taxes
Dividing the state median annual real estate tax bill of $3,036 by the state median owner-occupied home value of $296,600 gives an estimated effective rate of 1.02%. Sources: Census ACS 2020–2024 5-year table B25103 and table B25077.
That 1.02% is an estimated effective rate derived from two separate medians. It is not the median of individual households’ effective rates, and no single Maine household necessarily pays it. Your actual bill depends on your property’s assessed value and the local rate where it sits.
| Home Value | Est. Annual Tax | Monthly Escrow |
|---|---|---|
| $300,000 | $3,060 (Est.) | $255 |
| $350,000 | $3,570 (Est.) | $298 |
| $400,000 | $4,080 (Est.) | $340 |
| $500,000 | $5,100 (Est.) | $425 |
Maine’s homestead exemption provides a reduction of up to $25,000 in the value of your home for property tax purposes. To qualify you must be a permanent resident of Maine, the home must be your permanent residence, and you must have owned a home in Maine for the twelve months before applying. Details are on the Maine Revenue Services homestead exemption page.
Treat the table above as a planning estimate built from the statewide 1.02% figure, and ask your lender for the actual parcel figure before you commit.
Maine Closing Costs
State law sets the real estate transfer tax and the registry of deeds recording fee. Everything else on the closing statement — lender, appraisal, title and settlement charges — is set by the provider.
| Fee | Amount | Set By |
|---|---|---|
| Real estate transfer tax | $2.20 per $500 of value, half on the seller and half on the buyer | 36 MRSA §4641-A |
| Additional transfer tax over $1,000,000 | $3.80 per $500 of value above $1,000,000 | 36 MRSA §4641-A |
| Recording, per document | $35 | Registers of deeds (33 MRSA §751) |
| Lender, appraisal, title and settlement fees | Set by the provider | Compare Loan Estimates |
Sources: 36 MRSA §4641-A and 33 MRSA §751.
Maine Housing Markets
Where you buy in Maine changes your FHA limit, your MaineHousing limits and your USDA income limit. The table below is a qualitative orientation, not a price guide.
| Area | Market Notes |
|---|---|
| Portland area (Cumberland, Sagadahoc and York counties) | FHA limit $615,250. MaineHousing’s Portland area income limit is $139,100 for 1–2 people, and USDA’s Portland area limit is $153,550. |
| York/Kittery area | MaineHousing income limit $132,900 for 1–2 people; USDA’s York-Kittery-South Berwick limit is $152,800. |
| Bangor area (Penobscot County) | FHA at the national floor. MaineHousing income limit $106,500 for 1–2 people and a $525,000 one-unit purchase price limit. |
| Lewiston-Auburn area (Androscoggin County) | FHA at the national floor and USDA at the $122,800 base limit. |
| Rest of Maine | FHA at $541,287, USDA at $122,800 for 1–4 people, and MaineHousing’s $105,000 income limit for 1–2 people. |
