Current mortgage rates · week of July 2, 2026
| Week | 30-yr / 15-yr fixed |
| July 2, 2026 | 6.43% / 5.79% |
| June 25, 2026 | 6.49% / 5.84% |
| June 18, 2026 | 6.47% / 5.81% |
| June 11, 2026 | 6.52% / 5.84% |
| June 4, 2026 | 6.48% / 5.79% |
| May 28, 2026 | 6.53% / 5.87% |
| May 21, 2026 | 6.51% / 5.85% |
| May 14, 2026 | 6.36% / 5.71% |
U.S. weekly averages — Freddie Mac Primary Mortgage Market Survey via FRED.
Maine Mortgage Overview
With just over 40 people per square mile, there's something peaceful about living in the coastal region of Maine. Known as the Pine Tree State because it has so many pine trees, Maine is a gorgeous state for families to enjoy including breath-taking islands.
If Maine living sounds perfect for you, here are your loan options:
Maine FHA loans
Maine FHA loans make it easy for anyone to become a homeowner. You need just a 580 credit score and a 3.5 percent down payment. You can even use gift funds for the entire down payment. With a steady income and a decent debt ratio, you're well on your way to owning your own home.
Maine VA loans
Veterans can live in Maine with no down payment and attractive loan interest rates. The VA loan requires just a 620 credit score and 'decent' debt ratio. Veterans don't pay mortgage insurance but must live in the home as their primary residence.
Maine USDA loans
Maine has plenty of rural areas for low to moderate-income families to secure 100 percent financing. With just a 640 credit score, you can get a loan with low mortgage insurance rates and low closing costs.
Maine conventional loans
If you have great credit (at least 660) and low debt ratios, try the Maine conventional loan. You need only 3 percent down if you're a first-time homebuyer (5 percent if not), but you'll pay PMI until you build up 20 percent equity in the home.
First-Time Homebuyer Programs in Maine
First Home Loan
The MaineHousing Conventional Loan is a low-interest fixed rate loan for low income borrowers. This must be your first home (or you haven't owned a home in 3 years). Borrowers need a minimum credit score of 640.
Advantage Loan Program
This is a down payment and closing cost assistance program. You can get up to $3,500 in closing cost or down payment assistance, and you must contribute 1 percent of the sales price too. All borrowers must undergo homebuyer education.
Purchase Plus Improvement Loan
If you're buying a fixer-upper home, the Purchase Plus Improvement Loan provides funds to buy and renovate the home. You can borrow $5,000 - $35,000 for home improvements, but there is a 6 percent of construction cost fee for the program.
Mobile Home Self-Insured Program
If you're buying a mobile home, the Mobile Home Self-Insured Program provides loans up to $175,000. In place of mortgage insurance, you'll pay a slightly higher interest rate. Mobile home buyers must make a 5 percent down payment, but 2 percent may be gift funds or down payment assistance. You need a credit score of at least 640 and a max debt ratio of 43 percent.
Maine mortgage FAQ
- Which home loan types can buyers use in Maine?
- Maine buyers can use FHA loans with a 580 credit score and 3.5 percent down where gift funds can cover the entire down payment, VA loans with no down payment and a 620 score for veterans, USDA loans offering 100 percent financing in rural areas with a 640 score, or conventional loans with 3 percent down for first-time homebuyers with at least 660 credit.
- What programs does Maine have for first-time homebuyers?
- MaineHousing runs the First Home Loan, a low-interest fixed-rate mortgage for buyers with a 640 credit score who haven't owned a home in three years. It pairs with the Advantage down payment and closing cost assistance program, the Purchase Plus Improvement Loan for buying and renovating fixer-uppers, and the Mobile Home Self-Insured Program for mobile home purchases.
- What credit score do you need to buy a house in Maine?
- It depends on the loan type. FHA loans accept scores as low as 580 with 3.5 percent down, VA loans require about 620, and USDA loans need 640. Conventional loans in Maine look for at least 660, and MaineHousing options like the First Home Loan and the Mobile Home Self-Insured Program require a minimum 640 score.