Mortgage Rates in Old Town, Maine — March 2026
Updated March 2026 | Based on Old Town market data and regional lending conditions
Old Town is a growing city in Maine with a population of 7,571. The current 30-year fixed mortgage rate in Old Town is 6.63%, which is 0.02% below the national average. With a median home price of $231,000 and a 20% down payment of $46,200, homebuyers can expect a monthly principal and interest payment of approximately $1,184.
Current Mortgage Rates in Old Town, ME
Below are the current average mortgage rates available in the Old Town 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 | 6.63% | 6.65% | -0.02% |
| 15-Year Fixed | 5.9% | 5.89% | +0.01% |
| 5/1 ARM | 6.18% | 6.15% | +0.03% |
| FHA | 6.44% | 6.25% | +0.19% |
| VA | 6.19% | 6.05% | +0.14% |
| Jumbo | 6.88% | 6.85% | +0.03% |
Old Town Housing Market Overview
The Old Town housing market offers relatively affordable housing compared to many major cities. The median household income in Old Town is $49,100, and the cost of living index is 100.8 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $61,886 to comfortably afford the median-priced home in Old Town, which exceeds the current median household income.
Monthly Payment Breakdown for Old Town
Based on the median home price of $231,000 with 20% down ($46,200), here is what you can expect to pay monthly in Old Town:
15-Year vs. 30-Year Mortgage in Old Town
Choosing a 15-year mortgage in Old Town at 5.9% instead of a 30-year at 6.63% would save you $147,420 in total interest over the life of the loan. However, your monthly payment would be $1,549 instead of $1,184 — an increase of $365 per month.
Calculate Your Old Town 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 Old Town
What are the current mortgage rates in Old Town, ME?
As of March 2026, the average 30-year fixed mortgage rate in Old Town, Maine is 6.63%, while the 15-year fixed rate is 5.9%. FHA loans average 6.44% and VA loans 6.19%. These rates are 0.02% below the national average of 6.65%.
How much is a monthly mortgage payment in Old Town?
Based on the median home price of $231,000 with 20% down, the estimated monthly mortgage payment in Old Town is $1,184 for principal and interest. Including property taxes of $260/month, the total monthly housing cost is approximately $1,444.
What income do I need to buy a home in Old Town?
Using the 28% rule, you would need an annual income of approximately $61,886 to afford the median-priced home in Old Town at $231,000. The median household income in Old Town is $49,100. This means most households would need to either earn above the median or consider homes below $231,000.
Is Old Town a good place to buy a home in 2026?
Old Town has a moderate cost of living with a cost of living index of 100.8 (national average = 100). The property tax rate in Maine is 1.35%, which is near the national average. Old Town has a population of 7,571 and offers a balanced lifestyle.
Mortgage Rates in Other Maine Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Old Town, Maine area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.