| As the eastern most of the lower 48
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| | prices in rural areas are very reasonable
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| states, Maine is nearly in a category all
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| | although Maine property taxes are amongst
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| of its own with more French speaking
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| | the highest in the nation relative to
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| residents then any other state. Having
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| | home value.
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| more in common with neighboring Canadian
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| | Two types of loans are popular in Maine:
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| provinces Quebec and New Brunswick, Maine
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| | adjustable rate and fixed rate mortgages.
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| is also one of the least densely
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| | The typical adjustable [or variable] rate
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| populated states in America. Are you
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| | mortgage can be had for one quarter
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| buying a home in the Pine Tree state?
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| | percent or more below the rate of a 30
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| Have you finalized your financing yet? If
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| | year fixed rate loan. Rates remain
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| you answered yes and then no respectively
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| | constant for the first 3, 5, 7 years
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| to these questions, please keep reading
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| | before the adjustment period kicks in.
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| for some tips on how you can make Maine
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| | 15 and 30 year fixed rate mortgages are
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| your home state.
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| | common with 20, 25, even 40 year rates
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| From Boothbay Harbor to the Quebec
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| | also available. The latter is the least
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| border, Mainiacs as some residents like
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| | known of them all and may be available
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| to call themselves, have an independence
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| | only through a national mortgage company.
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| streak that rivals the weather. Quite
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| | Besides financing through a mortgage
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| frankly, to live in Maine means you must
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| | company or bank, borrowers may want to
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| enjoy long, harsh winters as summer is
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| | explore the FHA, VA, and HUD programs for
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| brief and colder weather dominates.
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| | what is available through them.
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| Home prices in the state are most
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| | Eligibility for VA loans is for former
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| reasonable away from the coast.
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| | and current military members and their
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| Kennebunkport and other resort areas are
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| | immediate families while HUD homes are
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| very pricey given that the number of
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| | typically available through their website
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| seasonal residents easily outnumbers
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| | for eligible buyers.
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| locals throughout the summer. While true
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| | Finally, check with your Maine realtor
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| Maine residents understand the importance
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| | for special state operated or local
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| of this seasonal industry, the presence
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| | financing programs as they come and go
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| of outsiders does push up housing prices.
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| | almost like Maine summers.
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| Further inland beyond Augusta to points
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| | Adam Heist is writer for the Loans
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| further north, most of the state is
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| | website, a new trend called Secured Loans
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| thinly populated with wide stretches of
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| | has been stirring up quite a commotion.
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| pine forest between developments. Housing
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| | Visit us today to find out why.
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