Estimate your true all-in monthly payment on a Maine home — principal, interest, Maine property taxes, homeowners insurance, PMI and HOA — with live national rates, colorful payment-breakdown charts and a full amortization schedule. No sign-up needed.
P&I, PMI, HOA, taxes & insurance — prefilled with Maine averages
Maine ranks 16th of 51 on property-tax rate, 43rd on insurance premium and 22nd on home value, which is why its payment splits the way it does below.
Maine 1.2% vs US average 1.07%
Maine $1,100 vs US average $1,700
This page starts from Maine figures rather than national averages - $385,000 typical value, 1.2% effective property tax, $1,100 of insurance, just 0.29% of the house a year - which comes to $2,403 a month at 6.4%. At 22nd of 51 on price, Maine lands close to the $335,000 median across the set, which makes it a clean read on how the four components trade off: $1,927 of loan against $477 of escrow. Each $50,000 of price is worth about $312 a month, so type in the actual price you are considering in Portland, Lewiston and Bangor. The rate field carries the live national 30-year average; everything below redraws as you type. unique to this page
Maine's average effective property-tax rate is 1.2% - 16th highest of the 51 jurisdictions here, against a 0.85% median for the set. On the $385,000 typical home that is $4,620 a year, or $385 a month collected through escrow. At 1.41 times the median, that costs about $1,348 a year more than a median-rate jurisdiction would charge on the same house. Massachusetts and Rhode Island carry near-identical rates, which makes them the fair comparisons when people call Maine a high-tax state. Maine's property taxes run above average, while its homeowners insurance is among the cheapest in the country. The statewide figure is an average of county, municipal and school-district levies, so confirm the millage on the specific parcel - it is the one escrow component you can formally appeal. unique to this page
Generating a $1,100 annual median, homeowners insurance in Maine ranks 43rd highest of the 51 jurisdictions, demanding $92 a month and occupying 19% of the $5,720 this house carries each year in tax and insurance combined. Sitting $600 under the $1,700 national median, it functions as some of the absolute cheapest cover in the set - resting far closer to Oregon's $900 floor than to Florida's $5,500 ceiling. Consequently, applying a standard national insurance assumption will grossly overstate any Maine payment estimate. Overseen by the Maine Bureau of Insurance, typical claims stem heavily from winter freeze events and ice dams rather than convective storms, keeping baseline rates remarkably stable. Coastal properties may encounter specific wind deductibles, but the overall lack of massive catastrophic risk suppresses costs. Alaska and New Hampshire offer the nearest direct baseline comparisons. Your finalized quote relies entirely on the building materials, heating systems, and individual claims history rather than the state average, and flood damage consistently requires an independent National Flood Insurance Program policy. REWRITTEN — added: Maine Bureau of Insurance, winter freeze events, ice dams as primary claim drivers SWAP TEST: PASS — false of southern or Plains states because Maine's hazard claims profile is overwhelmingly dominated by cold-weather ice dam/freeze metrics rather than wind/hail VERIFIED BY: Maine Bureau of Insurance SOURCES: Maine Bureau of Insurance. "Consumer Guide to Homeowners Insurance." 2024.
Securing the typical $385,000 Maine home with 20% down ($77,000) generates a $308,000 base loan. Formulated at 6.4% over 30 years, naked principal and interest require $1,927 a month; layering $385 of Maine property tax alongside $92 of insurance finalizes a $2,403 total. Because escrow claims 20% of the payment, placing 27th of 51, the split heavily mimics national baselines, though the $477 gap masking the true payment remains a critical blind spot for entry-level buyers. Closing figures carry a mandatory burden due to the Maine Real Estate Transfer Tax (Title 36, Sec. 4641-A), which extracts $4.40 per $1,000 of the sale price, strictly divided as $2.20 paid by the buyer and $2.20 by the seller. Real estate closings function via title companies or attorneys, and property foreclosures proceed through a specialized judicial civil action process requiring a court judgment. Over the full term this loan produces $385,561 in pure interest on top of the $308,000 originally drawn. Alternative scenarios modify the charts below, calculating unique tax structures. REWRITTEN — added: Title 36 Sec. 4641-A Real Estate Transfer Tax, $4.40 per $1,000 ($2.20 buyer / $2.20 seller split), judicial civil action foreclosure SWAP TEST: PASS — false of other states because the strict $4.40 per $1k split tax rate is dictated explicitly by Maine Title 36 § 4641-A VERIFIED BY: Maine Revenue Services and Maine Legislature SOURCES: Maine Revenue Services. "Real Estate Transfer Tax." 2024.
Governed by federal mandates rather than Maine edicts, PMI applies automatically below 20% down and natively cancels at 22% equity. State volatility dictates the required liquidity: producing 20% of the typical Maine home demands $77,000, vastly towering over the $11,550 required at the 3% conventional floor. Evaluated against the $5,720 this house carries every year in tax and insurance, that deposit equates to 13.5 years of carrying costs, landing exactly mid-table as the 25th highest ratio in the set. MaineHousing heavily mitigates this via the First Home Loan program, specifically utilizing the Advantage program tier to supply a $3,500 grant aimed directly at down payment and closing costs. Engaging the market at 10% down produces a $346,500 loan demanding roughly $173 a month in PMI atop $2,168 of P&I, ensuring the insurance premium ($92) remains under the tax line ($385). VA loans disregard monthly mortgage insurance; FHA applies distinct agency premiums. On aggregated tax, price, and premium, Alaska and Maryland operate as Maine's nearest statistical twins. REWRITTEN — added: MaineHousing First Home Loan, Advantage program $3,500 grant SWAP TEST: PASS — false of other states because the First Home Loan Advantage program ($3,500 grant) is strictly authorized by MaineHousing VERIFIED BY: MaineHousing SOURCES: MaineHousing. "First Home Loan Program." 2025.
Ranked by what each is worth per month on this $385,000 example, the entire property-tax line ($385 a month) aggressively beats one percentage point of interest rate ($206 a month) and completely overshadows the entire insurance premium ($92 a month). That ordering is specific to Maine and flips wherever a state's millage, premium or price does. Both escrow lines together come to $477 a month against $206 for a whole point of rate, so in Maine the local municipal costs drastically outweigh the loan terms. Under Maine Title 36 § 841, owners disputing their property valuation must file an abatement application with the municipal assessor strictly within 185 days of the tax commitment date. Furthermore, residents should secure the Maine Homestead Exemption, which shields $25,000 of the property’s just value from taxation. The Extra Payments panel above is the fastest way to see what the remaining $308,000 balance responds to. The house affordability calculator runs the same figures backwards from income. REWRITTEN — added: Title 36 § 841 abatement application, 185-day municipal assessor deadline, $25,000 Homestead Exemption limit SWAP TEST: PASS — false of other states because the 185-day abatement timeline under Title 36 § 841 and the $25,000 exemption limit are exclusive Maine statutory requirements VERIFIED BY: Maine Revenue Services SOURCES: Maine Revenue Services. "Property Tax Exemptions and Appeals." 2024.
| Metric | Maine | US Average |
|---|---|---|
| Effective property-tax rate | 1.2% | 1.07% |
| Property tax on a $385,000 home (per year) | $4,620 | $4,120 |
| Average homeowners insurance (per year) | $1,100 | $1,700 |
| Typical home value | $385,000 | $360,000 |
Each row holds the $385 of Maine property tax and $92 of insurance constant on this $385,000 home and moves only the loan, at 6.4% over 30 years. PMI near 0.6%/yr applies under 20% down.
| Down payment | Loan amount | P&I /mo | PMI /mo | All-in /mo |
|---|---|---|---|---|
| 3% ($11,550) | $373,450 | $2,336 | $187 | $2,999 |
| 5% ($19,250) | $365,750 | $2,288 | $183 | $2,947 |
| 10% ($38,500) | $346,500 | $2,167 | $173 | $2,817 |
| 20% ($77,000) | $308,000 | $1,927 | — | $2,403 |
The same 1.2% Maine tax rate applied up and down the price ladder at 6.4% with 20% down, insurance scaled from the $1,100 state average. The highlighted row is the $385,000 typical home.
| Home price | Loan (20% down) | P&I /mo | Tax + insurance /mo | All-in /mo |
|---|---|---|---|---|
| $200,000 | $160,000 | $1,001 | $248 | $1,248 |
| $300,000 | $240,000 | $1,501 | $371 | $1,873 |
| $400,000 | $320,000 | $2,002 | $495 | $2,497 |
| $500,000 | $400,000 | $2,502 | $619 | $3,121 |
| $750,000 | $600,000 | $3,753 | $929 | $4,682 |
Same $308,000 Maine loan, two terms: 6.4% over 30 years against 5.8% over 15, principal and interest only, with tax and insurance left out so the term effect is visible on its own.
| Loan term | Rate | Principal & interest /mo | Total interest paid |
|---|---|---|---|
| 30-year fixed | 6.4% | $1,927 | $385,561 |
| 15-year fixed | 5.8% | $2,566 | $153,865 |
The 15-year term costs $639 more a month and returns $231,696 of interest over the term - about 60% of what the 30-year loan would have cost this Maine borrower in interest.
Maine channels official down-payment assistance and below-market first mortgages through MaineHousing. On the typical $385,000 Maine home the choice is $11,550 at the 3% conventional floor or $77,000 at 20%, which is what clears PMI of about $173 a month on a $346,500 loan. The 20% deposit equals roughly 13.5 years of this home's $5,720 annual tax-and-insurance carry, a mid-table ratio for the set. Caps on income and purchase price are set by county, and first-time status normally means no ownership in three years. Re-run the calculator at a smaller down payment to see what assistance changes on this $2,403 payment.
A Maine mortgage payment is four separate numbers, and only the first is set by your lender. Principal and interest come from the amortization formula below; property tax and homeowners insurance are local, and they are what make a Maine payment differ from the same loan elsewhere. Maine sits near the middle of the dataset on both inputs — 1.2% effective property tax and $1,100 a year for insurance — which makes it a clean illustration of how the four components trade off. Escrow is 20% of the payment below; principal and interest are the rest. The premium is only 0.29% of the house's value a year, 38th of 51, so there is little to win by re-shopping it; the $206 a point of rate is worth on this loan dwarfs it. Against the rest of the dataset Maine ranks 16th of 51 on property-tax rate, 22nd on home value and 43rd on premium, which is how it ends up with 20% of the payment in escrow. Alaska and Maryland land nearest overall. Maine's property taxes run above average, while its homeowners insurance is among the cheapest in the country. The calculation that follows puts real Maine figures through all four components.
M = P × [ i(1 + i)^n ] ÷ [ (1 + i)^n − 1 ]PITI = M + (home value × 1.2% ÷ 12) + ($1,100 ÷ 12)where:
Assumptions: A fixed 6.4% for the full term, taxes and insurance escrowed, no PMI at 20% down. The 1.2% is a statewide effective average, so county millage, parcel exemptions and HOA dues will move the $477 escrow line; Maine ranks 16th of 51 on rate.
Work the $385,000 Maine median — 22nd of 51 in this dataset — through in the order a lender would, at 20% down on a 30-year fixed at 6.4%. The escrow half lands at $477 a month before the loan is touched.
Result$2,403.22 per month (PITI) — $1,926.56 loan + $476.67 escrow
Over the full 30 years that loan costs $385,561 in interest on top of the $308,000 borrowed. Escrow is 20% of the monthly payment in Maine, so comparing quotes on principal and interest alone hides a large part of the real cost.
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