Maine FHA Loan Rates, Closing Costs & Stats

Maine

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Maine FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Maine averaged 6.42% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Maine's average FHA mortgage closing costs are $8,199.

    The average rate for the prior week (2025-03-28) was 6.81% and one month ago for the week of 2025-02-28, the average rate was 6.8%.

    The average rate one year ago was 7.02%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.25%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Maine FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Maine level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 306 6.34% $12,715
    GUILD MORTGAGE COMPANY 263 6.45% $10,741
    QUICKEN LOANS, LLC 263 6.41% $11,510
    CMG MORTGAGE, INC. 196 6.63% $11,593
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 104 6.15% $9,863
    Bangor Savings Bank 86 5.96% $8,668
    NORTHPOINT MORTGAGE, INC. 67 6.41% $11,402
    FREEDOM MORTGAGE CORPORATION 66 6.47% $12,840
    Paramount Residential Mortgage Group, Inc. 57 6.44% $20,635
    The Camden National Bank 56 5.84% $8,464
    TOTAL MORTGAGE SERVICES, LLC 56 6.59% $12,487
    LOANDEPOT.COM, LLC 51 6.45% $11,613
    BROKER SOLUTIONS, INC. 48 6.73% $11,158
    CROSSCOUNTRY MORTGAGE, LLC 48 6.45% $12,477
    PENNYMAC LOAN SERVICES, LLC 47 6.11% $10,154
    T2 FINANCIAL LLC 46 6.65% $11,269
    NEWREZ LLC 45 6.50% $8,542
    LEADERONE FINANCIAL CORPORATION 41 6.89% $11,333
    DAS Acquisition Company, LLC 40 6.21% $11,118
    Mr. Cooper ( Nationstar Mortgage ) 30 6.45% $13,688
    HARBORONE MORTGAGE, LLC 27 6.45% $10,459
    CUSO MORTGAGE CORPORATION 27 5.86% $8,268
    LAKEVIEW LOAN SERVICING, LLC 25 6.26% $8,777
    MUTUAL OF OMAHA MORTGAGE, INC. 24 6.45% $14,879
    Century Mortgage Company DBA Century Lending Company 23 6.41% $9,971
    AMERISAVE MORTGAGE CORPORATION 20 6.21% $13,802
    HOMEBRIDGE FINANCIAL SERVICES, INC. 20 6.52% $10,413
    Mortgage Research Center, LLC 19 6.83% $8,510
    Carrington Mortgage Services, LLC 18 6.40% $14,157
    KeyBank 14 6.26% $8,533
    EMBRACE HOME LOANS, INC. 13 6.28% $11,555
    PRIMARY RESIDENTIAL MORTGAGE, INC. 13 6.85% $15,698
    MEGASTAR FINANCIAL CORP. 13 6.07% $10,927
    MOVEMENT MORTGAGE, LLC 11 6.46% $10,942
    VILLAGE CAPITAL MORTGAGE 10 6.66% $4,984
    GUARANTEED RATE AFFINITY, LLC 10 6.30% $13,992
    RADIUS FINANCIAL GROUP INC. 10 6.30% $8,291
    ZILLOW HOME LOANS, LLC 9 6.47% $9,601
    NORTHERN MORTGAGE SERVICES, LLC 9 6.51% $6,410
    Equity Prime Mortgage LLC 9 6.74% $10,733
    AMERICAN FINANCING CORPORATION 9 5.61% $17,527
    FIRST MORTGAGE COMPANY, INC. 8 6.53% $10,251
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.29% $10,033
    NORWICH COMMERCIAL GROUP, INC. 7 6.61% $10,646
    MID AMERICA MORTGAGE, INC. 6 7.65% $13,897
    ENVOY MORTGAGE, LTD 6 6.79% $13,152
    GENEVA FINANCIAL, LLC 6 7.44% $11,187
    HOMESIDE FINANCIAL, LLC 6 5.94% $18,218
    Ixonia Bank 6 7.19% $8,521
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.88% $11,692
    TOP FLITE FINANCIAL, INC. 5 6.70% $20,416
    TD Bank 5 6.80% $7,118
    CARDINAL FINANCIAL 4 6.06% $9,047
    EMM LOANS LLC 4 6.78% $10,449
    GUARANTEED RATE, INC. 4 6.10% $9,563
    AMERICAN FINANCIAL NETWORK, INC. 4 7.22% $11,619
    PLAZA HOME MORTGAGE, INC. 4 6.94% $17,783
    Nations Lending Corporation 4 6.31% $14,106
    PLANET HOME LENDING, LLC 4 6.50% $9,254
    RESIDENTIAL BANCORP 3 5.08% $16,278
    Lakeview Community Capital, LLC 3 6.42% $8,056
    OCMBC, INC. 3 6.71% $14,097
    Cornerstone First Mortgage, Inc 3 6.00% $17,102
    The Federal Savings Bank 3 6.71% $12,576
    JPMorgan Chase Bank 2 6.50% $6,857
    RELIANCE FIRST CAPITAL, LLC 2 6.38% $11,526
    AmeriHome Mortgage Company, LLC 2 6.81% $4,187
    TruHome Solutions, LLC 2 5.75% $14,412
    U.S. Bank 2 6.81% $8,388
    Flagstar Bank, FSB 2 5.92% $8,462
    Barrington Bank & Trust Company, N.A. 2 7.00% $9,576
    FIRST COMMUNITY MORTGAGE, INC. 2 6.88% $12,016
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.50% $16,532
    Evolve Bank & Trust 2 7.25% $16,726
    Waterstone Mortgage Corporation 2 6.69% $11,134
    OCEANSIDE MORTGAGE COMPANY 2 5.75% $5,292
    POLARIS HOME FUNDING CORP. 2 6.69% $14,694
    LOANPAL, LLC 2 5.81% $14,772
    SALEM FIVE MORTGAGE COMPANY, LLC 2 6.50% $12,484
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.81% $9,733
    First Federal Bank 2 5.94% $10,703
    Keystone Funding, Inc. 2 6.13% $9,101
    PNC Bank 2 6.63% $7,056
    PHH Mortgage Corporation 2 7.25% $8,752
    Plains Commerce Bank 2 6.69% $12,003
    NEXERA HOLDING LLC 1 6.00% $6,842
    American Mortgage & Equity Consultants, Inc. 1 5.25% $16,760
    AXIA FINANCIAL, LLC 1 7.75% $10,918
    Bank of America 1 5.88% $17,341
    BAY EQUITY LLC 1 5.99% $13,056
    BETTER MORTGAGE CORPORATION 1 6.13% $8,977
    CALCON MUTUAL MORTGAGE LLC 1 7.00% $12,858
    DREW MORTGAGE ASSOCIATES, INC. 1 6.25% $17,447
    EVERETT FINANCIAL, INC. 1 6.63% $11,653
    LIBERTY HOME MORTGAGE CORPORATION 1 7.50% $15,282
    MICHIGAN MUTUAL, INC. 1 6.63% $14,061
    MLD MORTGAGE INC. 1 6.13% $22,882
    MORTGAGE EQUITY PARTNERS LLC 1 6.75% $10,703
    M&T Bank 1 6.88% $9,654
    NATIONS RELIABLE LENDING, LLC 1 6.25% $9,216
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.13% $8,699
    NEW DAY FINANCIAL, LLC 1 7.75% $3,745
    ALLIED MORTGAGE GROUP, INC. 1 6.13% $6,709
    NFM, INC. 1 6.63% $3,974
    North American Savings Bank, F.S.B. 1 5.50% $19,740
    Northpointe Bank 1 6.50% $13,136
    OPEN MORTGAGE, LLC 1 5.75% $13,980
    Prosperity Home Mortgage, LLC 1 6.13% $12,900
    Republic State Mortgage Co. 1 7.13% $8,796
    Servion, Inc. 1 6.25% $9,696
    Sierra Pacific Mortgage Company, Inc. 1 5.75% $11,728
    The Union Bank Company 1 6.13% $8,491
    UNITED MORTGAGE CORP 1 5.88% $22,115

    The top Maine FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 306 FHA loans originated. Their average total fees are $12,715, which is $1,975 higher than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Maine FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($4,984), CUSO MORTGAGE CORPORATION ($8,268), RADIUS FINANCIAL GROUP INC. ($8,291), The Camden National Bank ($8,464) and Mortgage Research Center, LLC ($8,510).

    The lowest rate Maine FHA lenders (with over 10 loans originated) are The Camden National Bank (5.84%), CUSO MORTGAGE CORPORATION (5.86%), Bangor Savings Bank (5.96%), MEGASTAR FINANCIAL CORP. (6.07%) and PENNYMAC LOAN SERVICES, LLC (6.11%).

    Maine FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LEWISTON-AUBURN, ME ANDROSCOGGIN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO AROOSTOOK 2022 $420,680 $538,650 $651,050 $809,150
    PORTLAND-SOUTH PORTLAND, ME CUMBERLAND 2022 $463,450 $593,300 $717,150 $891,250
    NON-METRO FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HANCOCK 2022 $420,680 $538,650 $651,050 $809,150
    AUGUSTA-WATERVILLE, ME KENNEBEC 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO KNOX 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO OXFORD 2022 $420,680 $538,650 $651,050 $809,150
    BANGOR, ME PENOBSCOT 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO PISCATAQUIS 2022 $420,680 $538,650 $651,050 $809,150
    PORTLAND-SOUTH PORTLAND, ME SAGADAHOC 2022 $463,450 $593,300 $717,150 $891,250
    NON-METRO SOMERSET 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WALDO 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
    PORTLAND-SOUTH PORTLAND, ME YORK 2022 $463,450 $593,300 $717,150 $891,250
    LEWISTON-AUBURN, ME ANDROSCOGGIN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO AROOSTOOK 2023 $472,030 $604,400 $730,525 $907,900
    PORTLAND-SOUTH PORTLAND, ME CUMBERLAND 2023 $506,000 $647,750 $783,000 $973,100
    NON-METRO FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HANCOCK 2023 $472,030 $604,400 $730,525 $907,900
    AUGUSTA-WATERVILLE, ME KENNEBEC 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO KNOX 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO OXFORD 2023 $472,030 $604,400 $730,525 $907,900
    BANGOR, ME PENOBSCOT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO PISCATAQUIS 2023 $472,030 $604,400 $730,525 $907,900
    PORTLAND-SOUTH PORTLAND, ME SAGADAHOC 2023 $506,000 $647,750 $783,000 $973,100
    NON-METRO SOMERSET 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WALDO 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
    PORTLAND-SOUTH PORTLAND, ME YORK 2023 $506,000 $647,750 $783,000 $973,100

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).