Maine Mortgage Refinance

Maine home owners can refinance their mortgage at rates as low as 5.28% APR to 5.90% APR for a 30 year fixed rate product or 4.55% APR to 5.42% APR for a 15 year fixed mortgage. Adjustable rate mortgages (ARMs) range from a 10/1 ARM at 4.32% APR to 4.48% APR to a 5/1 ARM at 3.27% APR to 4.00% APR. With a population of 1,321,574, Maine has a large selection of homes to accommodate a variety of individual needs. When it comes to mortgage refinance, borrowers in Maine can take several steps to successfully identify the right refinance product. In addition to learning about different mortgage types, borrowers should review rates from a large selection of lenders and get prequalified. The average property price in Maine is $196,707, whereas homes in Old Orchard Beach (04064) sold for $159,000 to $352,625. In Portland (04102), homes sold for $179,000 to 216,500. Maine home values range anywhere from $55,691 to $619,349. Home values in Kennebunk (04043) range from $255,717 to $300,190, whereas homes in Bangor (04401) are valued from $527,590 to $619,345.