Home and mortgage

Maine Mortgage Calculator

Your monthly mortgage payment in Maine, with Maine's effective property tax rate (1.02%) built in, at this week's average rate. The calculator starts at the state's median home value, $296,600.

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Home priceDown paymentInterest rateStarts at this week's national averageLoan termProperty taxA year, as a share of the price; about 1% is typical, varying widely by countyHome insurance a yearMortgage insurance (PMI)A year, on the loan, only below 20% downHOA dues a month

Monthly payment$2,029.69The answer

Monthly payment

$2,029.69

A $297,000 home with 20% down ($237,600 borrowed) at 7.18% over 30 years costs about $2,030 a month: $1,610 principal and interest plus $420 of tax, insurance and dues.

Principal and interest: $1,609.59
Tax, insurance, PMI and HOA: $420.11
Total interest over the loan: $341,851

Amortization by year: $237,600 at 7.18%

Year	Interest	Principal	Balance
1	$16,983.96	$2,331.06	$235,268.94
2	$16,810.97	$2,504.05	$232,764.89
3	$16,625.14	$2,689.88	$230,075.01
4	$16,425.53	$2,889.50	$227,185.51
5	$16,211.09	$3,103.93	$224,081.59
6	$15,980.75	$3,334.27	$220,747.31
7	$15,733.31	$3,581.71	$217,165.60
8	$15,467.51	$3,847.51	$213,318.09
9	$15,181.99	$4,133.04	$209,185.06
10	$14,875.27	$4,439.75	$204,745.31
11	$14,545.79	$4,769.23	$199,976.08
12	$14,191.87	$5,123.16	$194,852.92
13	$13,811.67	$5,503.35	$189,349.58
14	$13,403.27	$5,911.75	$183,437.82
15	$12,964.55	$6,350.47	$177,087.35
16	$12,493.28	$6,821.74	$170,265.61
17	$11,987.04	$7,327.99	$162,937.63
18	$11,443.22	$7,871.80	$155,065.83
19	$10,859.05	$8,455.97	$146,609.86
20	$10,231.53	$9,083.49	$137,526.36
21	$9,557.44	$9,757.58	$127,768.78
22	$8,833.32	$10,481.70	$117,287.08
23	$8,055.47	$11,259.55	$106,027.52
24	$7,219.89	$12,095.13	$93,932.39
25	$6,322.30	$12,992.72	$80,939.67
26	$5,358.11	$13,956.92	$66,982.76
27	$4,322.35	$14,992.67	$51,990.09
28	$3,209.74	$16,105.28	$35,884.81
29	$2,014.56	$17,300.46	$18,584.34
30	$730.68	$18,584.34	$0.00

Download the schedule (CSV)

This week's mortgage rates

Monthly payment in Maine by home price (20% down, 7%, 30 years, 1.02% tax, $2,000 insurance)

Home price	Principal and interest	Property tax	Total
$150,000	$798	$128	$1,093
$220,000	$1,171	$188	$1,525
$300,000	$1,597	$256	$2,019
$440,000	$2,342	$375	$2,884
$590,000	$3,140	$503	$3,810

How this calculator works

As the mortgage calculator, with Maine's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $3,036 ÷ median value $296,600.

Questions people ask

What is the mortgage payment on a median home in Maine?

On $296,600 with 20% down at 7% over 30 years: about $1,579 principal and interest and $253 of property tax, $1,998 a month with $2,000 a year of insurance.

What is the median home value in Maine?

$296,600 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in Maine?

The effective rate is 1.02%, a median $3,036 a year. See Maine's property tax page for every county we cover.

How much income do I need for a median Maine home?

Under the 28% guideline, about $85,646 a year for the payment above; Maine's median household income is $74,733.

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Sources

Updated Sep 30, 2026 by the RateHerald team. The maths is tested against worked examples; report a problem.