Mortgage Rates in Saco, Maine — March 2026
Updated March 2026 | Based on Saco market data and regional lending conditions
Saco is a growing city in Maine with a population of 20,381. The current 30-year fixed mortgage rate in Saco is 6.68%, which is 0.03% above the national average. With a median home price of $375,000 and a 20% down payment of $75,000, homebuyers can expect a monthly principal and interest payment of approximately $1,932.
Current Mortgage Rates in Saco, ME
Below are the current average mortgage rates available in the Saco 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 | 6.68% | 6.65% | +0.03% |
| 15-Year Fixed | 5.92% | 5.89% | +0.03% |
| 5/1 ARM | 6.18% | 6.15% | +0.03% |
| FHA | 6.28% | 6.25% | +0.03% |
| VA | 6.08% | 6.05% | +0.03% |
| Jumbo | 6.88% | 6.85% | +0.03% |
Saco Housing Market Overview
The Saco housing market reflects moderate demand with prices near the national average. The median household income in Saco is $62,250, and the cost of living index is 105.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $100,200 to comfortably afford the median-priced home in Saco, which exceeds the current median household income.
Monthly Payment Breakdown for Saco
Based on the median home price of $375,000 with 20% down ($75,000), here is what you can expect to pay monthly in Saco:
15-Year vs. 30-Year Mortgage in Saco
Choosing a 15-year mortgage in Saco at 5.92% instead of a 30-year at 6.68% would save you $242,100 in total interest over the life of the loan. However, your monthly payment would be $2,519 instead of $1,932 — an increase of $587 per month.
Calculate Your Saco 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 Saco
What are the current mortgage rates in Saco, ME?
As of March 2026, the average 30-year fixed mortgage rate in Saco, Maine is 6.68%, while the 15-year fixed rate is 5.92%. FHA loans average 6.28% and VA loans 6.08%. These rates are 0.03% above the national average of 6.65%.
How much is a monthly mortgage payment in Saco?
Based on the median home price of $375,000 with 20% down, the estimated monthly mortgage payment in Saco is $1,932 for principal and interest. Including property taxes of $406/month, the total monthly housing cost is approximately $2,338.
What income do I need to buy a home in Saco?
Using the 28% rule, you would need an annual income of approximately $100,200 to afford the median-priced home in Saco at $375,000. The median household income in Saco is $62,250. This means most households would need to either earn above the median or consider homes below $375,000.
Is Saco a good place to buy a home in 2026?
Saco has a moderate cost of living with a cost of living index of 105.5 (national average = 100). The property tax rate in Maine is 1.3%, which is near the national average. Saco has a population of 20,381 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 Saco, Maine area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.