Mortgage on a $250K house in Maine
$1,662 a month with 20% down — $1,345 principal and interest plus $192 property tax and $125 insurance.
Maine's typical property tax is 0.92% of the home's value a year (U.S. average 0.9%), which adds $192 a month on a $250K home. The typical home in Maine is worth $412,002, so $250K is 39% below the typical price.
$250K home in Maine: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $317 | $1,662 | $71,200 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $317 | $1,924 | $82,500 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $317 | $2,013 | $86,300 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $317 | $2,078 | $89,100 |
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 $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Somerset County | $228,626 | 1.08% | $1,695 |
| Piscataquis County | $227,800 | 0.9% | $1,659 |
| Penobscot County | $277,437 | 1.16% | $1,712 |
4 of 16 Maine counties tracked by Zillow have a typical home value at or below $250K. See all Maine home prices.
Other prices in Maine
Frequently asked questions
What is the mortgage on a $250K house in Maine?
About $1,662 a month with 20% down at 7.11%: $1,345 principal and interest, $192 property tax and $125 insurance.
How much do I need to make to buy a $250K house in Maine?
About $71,200 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in Maine?
At Maine's typical effective rate of 0.92%, about $2,298 a year. Rates vary by county and city — see the county pages.