Mortgage Rates in Cape Elizabeth, Maine — March 2026
Updated March 2026 | Based on Cape Elizabeth market data and regional lending conditions
Cape Elizabeth is a growing city in Maine with a population of 9,349. The current 30-year fixed mortgage rate in Cape Elizabeth is 6.67%, which is 0.02% above the national average. With a median home price of $266,000 and a 20% down payment of $53,200, homebuyers can expect a monthly principal and interest payment of approximately $1,369.
Current Mortgage Rates in Cape Elizabeth, ME
Below are the current average mortgage rates available in the Cape Elizabeth area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.92% | 5.89% | +0.03% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Cape Elizabeth Housing Market Overview
The Cape Elizabeth housing market offers relatively affordable housing compared to many major cities. The median household income in Cape Elizabeth is $55,300, and the cost of living index is 101.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $72,086 to comfortably afford the median-priced home in Cape Elizabeth, which exceeds the current median household income.
Monthly Payment Breakdown for Cape Elizabeth
Based on the median home price of $266,000 with 20% down ($53,200), here is what you can expect to pay monthly in Cape Elizabeth:
15-Year vs. 30-Year Mortgage in Cape Elizabeth
Choosing a 15-year mortgage in Cape Elizabeth at 5.92% instead of a 30-year at 6.67% would save you $171,180 in total interest over the life of the loan. However, your monthly payment would be $1,787 instead of $1,369 — an increase of $418 per month.
Calculate Your Cape Elizabeth Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Cape Elizabeth
What are the current mortgage rates in Cape Elizabeth, ME?
As of March 2026, the average 30-year fixed mortgage rate in Cape Elizabeth, Maine is 6.67%, while the 15-year fixed rate is 5.92%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Cape Elizabeth?
Based on the median home price of $266,000 with 20% down, the estimated monthly mortgage payment in Cape Elizabeth is $1,369 for principal and interest. Including property taxes of $313/month, the total monthly housing cost is approximately $1,682.
What income do I need to buy a home in Cape Elizabeth?
Using the 28% rule, you would need an annual income of approximately $72,086 to afford the median-priced home in Cape Elizabeth at $266,000. The median household income in Cape Elizabeth is $55,300. This means most households would need to either earn above the median or consider homes below $266,000.
Is Cape Elizabeth a good place to buy a home in 2026?
Cape Elizabeth has a moderate cost of living with a cost of living index of 101.5 (national average = 100). The property tax rate in Maine is 1.41%, which is near the national average. Cape Elizabeth has a population of 9,349 and offers a balanced lifestyle.
Mortgage Rates in Other Maine Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Cape Elizabeth, Maine area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.