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Maine Mortgage Rates

Maine Mortgages and Mortgage Loan Rates

Don’t sweat the mortgage process. It’s really just 4 basic steps. They’re important steps which can be more easily managed using the free tools available right now at Here are those steps:

  • Know the difference between the various mortgage products, know what you want from homeownership, and have reasonable expectations. Use articles and calculators at to help.
  • Know what Maine mortgage rates are doing by checking them and how they’re currently trending at
  • Use the broker directory at to find contact information on Maine lenders.
  • Scrutinize the offers lenders send. If you’re prequalified or have locked in a rate, run the new numbers through the mortgage calculator at

Maine fixed-rate mortgages

Fixed rate mortgages (FRMs) are a popular option among borrowers looking to buy single-family homes. They’re conservative and safe because the interest and payment terms will never change during the life of the loan. FRMs can be amortized over 10-, 15-, 30- and even 40 years, but you’ll likely be offered the best rate on the shortest periods. Besides the lowest rate, you’ll pay the least amount of interest over the loan term, saving you even more. Although tempting, be sure to choose the loan term that’s most affordable.

Saving on taxes with a Maine mortgage

It’s easy to find out how much your new home can help save on your taxes using the Tax Saving Calculator at Federal law allows deductions on points paid, interest paid and property taxes paid. Property tax and interest deductions are handled the same way on your taxes whether you refinance or buy a new home. Points paid however, are to be amortized over the loan term on a refinance but can be deducted all at once in the year they were paid on a new purchase mortgage.

Compare Maine mortgages

When it comes to Maine homes for sale, great rates, and qualified lenders you definitely have plenty of options. If your goal is saving money, you’ll have to talk with multiple lenders. But that’s easy. Find contact information for highly qualified brokers in Maine using the broker directory at

Popular Areas in Maine

South Portland