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Mortgage Information for Maine Homebuyers

There’s a reason why one of Maine’s mottos is “The Way Life Should Be.” Mostly 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 famous for its vast array of recreational opportunities both on land and at sea. Its tourism industry is strong year round, thanks to the 2,700 lakes and ponds and more than 700 mountains that are over 1,000-feet high.

A relatively low cost of living coupled with safe communities and good schools draws people from throughout the country to plant their roots and purchase homes in Maine. If you’re thinking of joining the legions of folks who’ve already discovered that Maine is the place to be, make sure you understand the assistance and educational material available on Maine mortgages. The state also offers abundant tax incentives and refunds for homeowners.

Maine Real Estate Statistics

Property Taxes
$1,936
Property Taxes

Average median property taxes paid on homes

Unemployment Rate
3.8%
Unemployment Rate

Ranked 12th lowest in US as of December, 2016

Median Home Price
3.51%
Tax Rate

Average property taxes as a % of median income

$175,000
Median Home Price 

The midway point of all homes sold at market price

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Get to Know the Top Maine Cities

Portland

Maine’s largest city, epitomizing life on the New England seacoast.

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Lewiston

A city flourishing thanks to economic diversification and renaissance.

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Bangor

Also known as “The Queen City” and a gateway to Maine’s natural beauty.

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South Portland

Home to a working waterfront and busy commercial center.

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Augusta

Maine’s capital city with an abundance of opportunities for residents and visitors.

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Auburn

An adventure waiting to begin along the Androscoggin River.

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Biddeford

A city rising where the water falls, history and urban life merge here.

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Hear What Our Maine Customers Have to Say

"The Blue Water team went above and beyond what was expected to meet our closing demands for our recent home purchase. Our broker was willing to come to my work, our apartment, and provided multiple phone calls and numerous emails to assist with the closing. He was knowledgable and very kind during the entire process. "

Ryan Yost
N. Berwick, ME
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