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Why Getting a Mortgage in Maine Makes Sense

If you ever wanted to live in a state filled with an almost endless expanse of lush green forests, a picturesque coastline, and communities filled with charm and character, then getting a Maine mortgage should be at the top of your list.

There’s a reason why one of Maine’s mottos is “The Way Life Should Be.” Largely rural in landscape, Maine is also known as the Pine Tree State thanks to its pristine wilderness that covers nearly 90% of the state, as well as a picturesque rocky coastline that stretches along the North Atlantic Ocean. An outdoor lover’s paradise, Maine is known for its vast array of recreational opportunities both on land and at sea. Its tourism industry is strong year round—thanks to the roughly 2,700 lakes and ponds and more than 700 mountains over 1,000-feet high. And Maine’s seafood is second to no other in the United States.

People become ‘Mainers’ for a variety of reasons. A relatively low cost of living coupled with safe communities and good schools routinely draws people from throughout the country to plant their roots and purchase homes in Maine. In addition to its rural comfort, Maine also offers a variety of urban experiences in places like Portland, its most populated city, and Augusta, the state capital. Job growth is steady in Maine, thanks to the healthy agriculture, commercial fishing and industrial manufacturing industries.

If you are thinking of joining the legions of folks who’ve already discovered that Maine is the place to be, be sure to get educated on all of the assistance and educational material available on Maine mortgages. The Maine Housing Authority offers a First Home Program that features a low fixed rate mortgage and sometimes, little or no down payment. The state also offers tax incentives and refunds for homeowners.

Maine Real Estate Statistics

  • Property Taxes
    Average median property taxes paid on homes is $1,936
  • Tax Rate
    Average property taxes as percent of median income is 3.51%
  • Unemployment Rate
    5.7% (Ranked 19th in US)
  • Median Home Price
    $175,000

Get To Know The Top Maine Cities

  • Portland
  • Lewiston
  • Bangor
  • South Portland
  • Biddeford
  • Auburn
  • Augusta

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