Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for Maine homebuyers.
Pre-filled with Maine medians. Adjust for your property.
Estimated closing costs based on Maine tax rates and fees.
The median home price in Maine is $350,000, with property taxes averaging 1.3% annually. Maine's property tax rate is roughly in line with the national average.
Closing costs in Maine average $5K (1.5%% of purchase price). The state charges a 0.44% transfer tax on real estate transactions, which modestly adds to closing costs. Homeowners insurance runs approximately $1,300 per year. This is within the normal range nationally.
Maine offers the MaineHousing First Home for first-time buyers: $5,000 Advantage grant. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
Maine presents moderate affordability. The $350K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.