Mortgage on a $150K house in Maine
$997 a month with 20% down — $807 principal and interest plus $115 property tax and $75 insurance.
Maine's typical property tax is 0.92% of the home's value a year (U.S. average 0.9%), which adds $115 a month on a $150K home. The typical home in Maine is worth $412,002, so $150K is 64% below the typical price.
$150K home in Maine: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,000 | $120,000 | $807 | $0 | $190 | $997 | $42,700 |
| 10% down | $15,000 | $135,000 | $908 | $56 | $190 | $1,154 | $49,500 |
| 5% down | $7,500 | $142,500 | $959 | $59 | $190 | $1,208 | $51,800 |
| 3.5% down (FHA) | $5,250 | $147,283 | $991 | $66 | $190 | $1,247 | $53,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.92% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Maine does $150K buy a typical home?
In these counties the typical home value is within 15% of $150K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Aroostook County | $168,572 | 1.12% | $1,022 |
0 of 16 Maine counties tracked by Zillow have a typical home value at or below $150K. See all Maine home prices.
Other prices in Maine
Frequently asked questions
What is the mortgage on a $150K house in Maine?
About $997 a month with 20% down at 7.11%: $807 principal and interest, $115 property tax and $75 insurance.
How much do I need to make to buy a $150K house in Maine?
About $42,700 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $150K house in Maine?
At Maine's typical effective rate of 0.92%, about $1,379 a year. Rates vary by county and city — see the county pages.