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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.

A $297,000 home with 20% down ($237,600 borrowed) at 7.28% over 30 years costs about $2,046 a month: $1,626 principal and interest plus $420 of tax, insurance and dues.

Monthly payment
$2,045.80
Principal and interest
$1,625.69
Tax, insurance, PMI and HOA
$420.11
Total interest over the loan
$347,648
Loan balance and interest paid over 30 years at 7.28%$0$100k$200k$300k$400k051015202530Years━Balance owed━Interest paid so far
Download the schedule (CSV)
Amortization by year: $237,600 at 7.28%
YearInterestPrincipalBalance
1$17,221.99$2,286.27$235,313.73
2$17,049.89$2,458.37$232,855.36
3$16,864.82$2,643.44$230,211.92
4$16,665.83$2,842.43$227,369.49
5$16,451.85$3,056.41$224,313.08
6$16,221.77$3,286.49$221,026.59
7$15,974.37$3,533.89$217,492.70
8$15,708.34$3,799.92$213,692.78
9$15,422.29$4,085.98$209,606.80
10$15,114.70$4,393.56$205,213.24
11$14,783.96$4,724.31$200,488.93
12$14,428.31$5,079.95$195,408.99
13$14,045.90$5,462.36$189,946.63
14$13,634.70$5,873.56$184,073.07
15$13,192.55$6,315.71$177,757.36
16$12,717.11$6,791.15$170,966.20
17$12,205.88$7,302.38$163,663.82
18$11,656.16$7,852.10$155,811.72
19$11,065.06$8,443.20$147,368.52
20$10,429.47$9,078.79$138,289.73
21$9,746.03$9,762.23$128,527.50
22$9,011.14$10,497.12$118,030.37
23$8,220.93$11,287.34$106,743.04
24$7,371.23$12,137.03$94,606.00
25$6,457.56$13,050.70$81,555.31
26$5,475.12$14,033.14$67,522.17
27$4,418.72$15,089.54$52,432.63
28$3,282.80$16,225.46$36,207.17
29$2,061.37$17,446.89$18,760.28
30$747.98$18,760.28$0.00

This week's mortgage rates →

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

Home pricePrincipal and interestProperty taxTotal
$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.

What it assumes

  • Home insurance varies a lot by state and area; enter your quote.
  • County property tax rates differ from the state figure; see the county pages.

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.

Mortgage calculator by state

Related calculators

  • Mortgage CalculatorYour full monthly mortgage payment: principal and interest, property tax, insurance, PMI and HOA dues, at this week's average rate, with a yearly amortization schedule.
  • Maine Property Tax CalculatorMaine homeowners pay a median $3,036 a year in property tax, 1.02% of a median $296,600 home: the 19th highest effective rate of the 50 states and DC.
  • Home Affordability CalculatorThe home price your income supports under the 28/36 guideline lenders use, counting your other debts, down payment, taxes and insurance, at this week's average rate.

Sources

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