Are you interested in living in Maine? There are nearly 739,000 housing units in the Pine Tree State. With a homeownership rate of 73%, according to the U.S. Census Bureau’s 2019 American Community Survey, Maine is a popular place to own a home.
Maine’s median housing value is approximately $341,000, which is just below the national median price of $350,300. Although home values vary by region, they still remain relatively average across the state.
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To calculate each score, we use data about the lender and its loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company’s customer service ratings, interest rates, loan product availability, minimum down payment, minimum FICO score and online features.
The weight each scoring factor receives is based on a nationwide survey on what borrowers look for in a lender.
To receive a rating, lenders must offer qualifying loans nationwide and have a good reputation within the industry. Read more about our methodology.
Best for online mortgages with cash back rewards
Borrowers with an Axos Bank checking account can reduce or eliminate the lender fee and earn cash back by using the account to make monthly mortgage payments.
Before You Apply
- Mortgage types: Conventional, ARM, FHA, VA, Home Equity Loans, HELOC, Refinancing
- Minimum FICO credit score: Not disclosed
- Minimum down payment: Not disclosed
- Better Business Bureau rating: A+
Best Features
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Earn 3% annualized cash back – 0.25% monthly – if you have an Axos Bank checking account and use it to pay your mortgage.
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Reduce or eliminate the $995 lender fee with an Axos Bank checking account.
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On-time closing is guaranteed for buyers of single-family homes.
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Access mortgage loan consultants to discuss your home financing needs.
Best for digital customer care
Before You Apply
- Mortgage types: Conventional, Fixed Rate, ARM, Refinancing, FHA, VA, Jumbo, USDA
- Minimum FICO credit score: 620
- Minimum down payment: 3%
- Better Business Bureau rating: A+
Best Features
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Homebuyers can choose from a variety of mortgage products.
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Home loans are available nationwide.
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Down payment and closing cost assistance is available.
Before You Apply
- Mortgage types: Conventional, ARM, FHA, VA, Refinancing
- Minimum FICO credit score: 620
- Minimum down payment: 3%
- Better Business Bureau rating: A+
Best Features
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FHA, VA and USDA loans are available, in addition to conventional fixed-rate and adjustable-rate mortgages.
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Potential borrowers can get prequalified without a hard credit inquiry.
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Borrowers can complete the majority of the application process online.
Before You Apply
- Mortgage types: Conventional, ARM, FHA, VA, Jumbo, Construction-to-permanent, HELOC, Refinancing
- Minimum FICO credit score: Not Disclosed
- Minimum down payment: 3%
- Better Business Bureau rating: A+
Best Features
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The application process can be completed online.
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Truist Bank offers a range of mortgage products.
Caliber has been in business since 2008, and is solely focused on home lending products.
Before You Apply
- Mortgage types: Conventional, Fixed, FHA, VA, ARM, Jumbo, Refinancing
- Minimum FICO credit score: 620
- Minimum down payment: 3%
- Better Business Bureau rating: A+
Best Features
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Offers Freddie Mac’s HomeOne loans for first-time homebuyers, which only require a 3% down payment and accept borrowers with a minimum 620 FICO score.
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Government-backed FHA, VA and USDA loans are available.
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Provides loans in all 50 states and the District of Columbia.
Best for borrowers with bad credit
Before You Apply
- Mortgage types: Conventional, Fixed, FHA, VA, ARM, Refinancing
- Minimum FICO credit score: 620
- Minimum down payment: 3%
- Better Business Bureau rating: A+
Best Features
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Loans are available to buyers with low credit scores.
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Lender programs allow for low or no down payments.
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Borrowers can choose from many loan options.
Before You Apply
- Mortgage types: Conventional, ARM, FHA, VA, USDA, Reverse Mortgage, HELOC, Cash-Out Refinancing, Refinancing
- Minimum FICO credit score: 620
- Minimum down payment: 3%
- Better Business Bureau rating: A+
Best Features
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Select from many mortgage types, including low- and no-down-payment loans.
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Choose between fixed- and adjustable-rate mortgages.
Before You Apply
- Mortgage types: Conventional, ARM, FHA, VA, Refinancing, Home Equity Loans
- Minimum FICO credit score: 620
- Minimum down payment: 3%
- Better Business Bureau rating: A+
Best Features
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PNC Bank offers multiple mortgage product lines.
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Low down payment mortgages are available.
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Its website offers an online homeownership cost tool.
Before You Apply
- Mortgage types: Conventional, Fixed, FHA, Jumbo, VA
- Minimum FICO credit score: 620
- Minimum down payment: 0% for a VA loan
- Better Business Bureau rating: A+
Before You Apply
- Mortgage types offered: Conventional, FHA, VA, ARM, Jumbo, Cash-Out Refinancing, Refinancing
- Minimum FICO credit score: Not disclosed
- Minimum down payment: 5%
- Better Business Bureau rating: B+
Best Features
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Down payments as low as 3% are accepted.
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Fixed- and adjustable-rate mortgages are available.
The average interest rate for a 30-year fixed-rate conforming mortgage in Maine is 2.89%
. Home interest rates range from 2.5% to 3.63% in Maine.
Is your dream home within reach? U.S. News’ mortgage calculator will show you how much house you can afford.
Maine homebuyers can get help with down payments and closing costs from these MaineHousing programs.
- Available to: Eligible homebuyers, including first-time homebuyers and veterans. Applicants must also have a 640 credit score.
- Income limits: Vary by county (see income limits).
- First-time homebuyers only?: No.
- Benefits: Qualified homebuyers will get low fixed interest rates and options with little or no down payment required. Mortgages also come with Maine HOPE – HomeOwnership Protection for unEmployment. If an eligible borrower loses a job, MaineHousing may advance up to four mortgage payments, including taxes and homeowners insurance.
- Down payment and closing cost assistance: This program can be combined with Advantage down payment and closing cost assistance.
- Available to: Borrowers using a MaineHousing First Home, Salute ME or Mobile Home Self-Insured Home Mortgage. Applicants must take a hoMEworks-approved homebuyer education class prior to closing and must make a minimum borrower contribution of 1% of the loan. The cost of the homebuyer education class counts toward the 1% contribution.
- Income limits: Vary by county (see income limits).
- First-time homebuyers only?: No.
- Down payment and closing cost assistance: Advantage can provide $3,500 toward the cash you need for down payment or closing costs.
- Available to: Qualified active duty, veterans and retired military personnel who are first-time homebuyers or returning homebuyers.
- Income limits: Vary by county, but most Maine households and homes are eligible (see income limits).
- First-time homebuyers only?: No.
- Benefit: Qualified homebuyers get a 0.25-point discount on the First Home Loan 30-year fixed interest rate.
- Down payment and closing cost assistance: This program can be combined with Advantage down payment and closing cost assistance.
Freedom Mortgage offers a range of mortgage loans, including conventional, adjustable-rate, refinance, FHA, VA and U.S. Department of Agriculture. But what Freedom Mortgage is known for is its mission to help American military personnel purchase a home.
Before You Apply:
• Mortgage types offered: Conventional, VA, USDA, Refinancing, FHA
• Minimum FICO score: 620
• Minimum down payment: 3%
• Better Business Bureau rating: A+
Best Features
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Offers wide selection of mortgages.
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Helps qualify borrowers with fair credit.
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Focuses on FHA and VA loans.
Best for online application and approval
Before You Apply
- Mortgage types: Conventional, ARM, FHA, VA, Refinancing, Home Equity Loans
- Minimum FICO credit score: Not disclosed
- Minimum down payment: 3%
- Better Business Bureau rating: A+
Best Features
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Easy online quote request.
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Comprehensive app with mobile-specific features.
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Loans tailored to physicians with high student loan debt are available.
Before You Apply
- Mortgage types: Conventional, ARM, FHA, VA, Refinancing
- Minimum FICO credit score: 620
- Minimum down payment: 3%
- Better Business Bureau rating: A+
Best Features
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Accepts a 45% debt-to-income ratio for conventional loans and may be able to go up to 50% in limited cases.
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Offers a discount on closing costs or principal curtailment if you are preapproved with PennyMac before locking in a purchase loan.
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Waives the origination fee on conventional and FHA purchase loans and reduces the fee on VA loans by $1,100. (Loans must be locked in by March 31, 2022, to claim either the waiver or the discount.)
Before You Apply
- Mortgage types: Conventional, FHA, VA, Jumbo, USDA, Refinancing
- Minimum FICO credit score: 620
- Minimum down payment: 3%
- Better Business Bureau Rating: A-
Best Features
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Exclusive mortgage products include the HomeFundIt for crowdfunding a down payment.
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CMG’s mobile app can help homebuyers navigate the mortgage financing process.
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Down payments as low as 3% are available on some conventional loans.
Before You Apply
- Mortgage types: Conventional, Refinancing, Home Equity Loans
- Minimum FICO score: 620
- Minimum down payment: 5%
- Better Business Bureau rating: A+
Best Features
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Down payments as low as 5%.
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Prequalify and apply for your mortgage online.
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Refinancing to consolidate your student loans and mortgage.
Best for a digital-first mortgage experience
Before You Apply
- Mortgage types: ARM, Conventional, FHA, VA, Refinancing
- Minimum FICO credit score: 620
- Minimum down payment: 5%
- Better Business Bureau rating: A+
Best Features
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More than 200 brick-and-mortar locations can provide service in person.
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The entire loan process, from applying for a mortgage to closing, can be handled online.
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Borrowers can choose from a variety of mortgage products.
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A lifetime guarantee waives lender fees and reimburses appraisal fees on future refinances after your first refinance with the lender.
Best for a lender credit and no lender fees
Before You Apply
- Mortgage types: Conventional, ARM, VA, Refinancing, HELOC
- Minimum FICO credit score: 620
- Minimum down payment: 0% for a VA loan
- Better Business Bureau rating: A+
Best Features
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Receive a lender credit of up to $2,500 upon closing.
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Choose from a variety of loan types.
Before You Apply
- Mortgage types: Conventional, FHA, VA, ARM, HELOC, Refinancing
- Minimum FICO credit score: 620
- Minimum down payment: 5%
- Better Business Bureau rating: A+
Best Features
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Bank of America has a wide variety of mortgage products.
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The lender offers annual percentage rate or closing cost discounts for qualifying Bank of America and Merrill Lynch clients.
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Home equity lines of credit have no annual, application or cash advance fees or closing costs.
Before You Apply
- Mortgage types: Conventional, ARM, FHA, VA, Home Equity Loans, HELOC, USDA, Refinancing
- Minimum FICO credit score: 620
- Maximum down payment: 5%
- Better Business Bureau rating: A+
Best Features
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A good selection of mortgage and home equity products are available.
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Some mortgage programs don’t require a down payment.
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You can apply for a loan online.
Advertising Disclosure: Some of the loan offers on this site are from companies
who are advertising clients of U.S. News. Advertising considerations may impact
where offers appear on the site but do not affect any editorial decisions,
such as which loan products we write about and how we evaluate them. This site
does not include all loan companies or all loan offers available in the marketplace.
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