FHA Loans in Maine
The FHA loan limit in Maine is $472,030 for a single-family home. FHA loans require just 3.5% down payment and accept credit scores as low as 580.
Maine's FHA limits cover the majority of the state's housing market, though the rising prices in southern Maine and coastal communities have begun to push some properties above the baseline limit. Cumberland County (Portland) may qualify for slightly elevated limits. FHA appraisals in Maine frequently flag issues with older homes — lead paint, knob-and-tube wiring, aging septic systems, and deteriorating foundations are common findings that can delay closings or require negotiated repairs.
By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: HUD, Zillow
FHA Loan Limit
$472,030
Min Down Payment
$16,521
3.5%
Est. Monthly Payment
$3,576
PITI + MIP
Min Credit Score
580
for 3.5% down
Monthly Payment Breakdown at FHA Limit
| Home Price | $472,030 |
| Down Payment (3.5%) | $16,521 |
| Loan Amount | $455,509 |
| Monthly Costs | |
| Principal & Interest (6.5%) | $2,879 |
| FHA Mortgage Insurance (MIP) | $209 |
| Property Tax | $370 |
| Homeowners Insurance | $118 |
| Total Monthly Payment | $3,576 |
* Estimated at 6.5% interest rate, 30-year fixed. MIP at 0.55% annual. Property tax at Maine's average rate of 0.94%. Includes upfront MIP of 1.75% rolled into loan.
FHA Loan Requirements
Credit Score
580+ for 3.5% down payment. 500-579 requires 10% down.
Down Payment
Minimum 3.5% of purchase price. Can be a gift from family.
Debt-to-Income
Maximum 43% DTI ratio (up to 50% with compensating factors).
Property Requirements
Must be primary residence. FHA appraisal required (stricter than conventional).
Employment
2 years of steady employment history. Self-employed need 2 years of tax returns.
Mortgage Insurance
1.75% upfront MIP + 0.55% annual MIP. Required for life of loan (unless refinanced).
FHA vs Conventional in Maine
| Feature | FHA | Conventional |
|---|---|---|
| Min Down Payment | 3.5% | 3-5% |
| Min Credit Score | 580 | 620 |
| Mortgage Insurance | Life of loan | Until 20% equity |
| Loan Limit (Maine) | $472,030 | $766,550+ |
| Best For | Lower credit, small savings | Good credit, 20%+ down |
