2019 FHA Loan Limits in Maine

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

Written By

Updated on Wednesday, April 3, 2019

On the market for a home in Maine? The Pine Tree State is known for its lobster, rocky coastline and plentiful forests. It’s also a pretty affordable place to buy a home. According to the Maine Association of REALTORS, while the state has seen a rise in values for single-family homes, the median sales price as of December 2018 was $219,000. That’s well below the nationwide median of $253,600 for the same month.

See Mortgage Rate Quotes for Your Home

See RatesSee RatesSee RatesTerms Apply. NMLS ID# 1136

By clicking “See Rates”, you will be directed to LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.

That affordability means Maine homebuyers should have a lot of options when it comes to financing their purchase. One popular option is a loan backed by the The Federal Housing Administration. FHA loans are attractive because they have low down payment requirements and closing costs. At the same time, they may be easier to qualify for, even if your credit score isn’t stellar.

The FHA sets a cap on the size of mortgages it will insure. These loan limits are updated annually and announced by the Department of Housing and Urban Development (HUD) near the end of each year. For 2019, the loan limits for a single-family home in Maine range from $314,827 to $351,900.

Maine FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ANDROSCOGGIN$314,827 $403,125 $487,250 $605,525 $177,000
AROOSTOOK$314,827 $403,125 $487,250 $605,525 $114,000
CUMBERLAND$351,900 $450,500 $544,550 $676,750 $306,000
FRANKLIN$314,827 $403,125 $487,250 $605,525 $138,000
HANCOCK$314,827 $403,125 $487,250 $605,525 $208,000
KENNEBEC$314,827 $403,125 $487,250 $605,525 $165,000
KNOX$314,827 $403,125 $487,250 $605,525 $207,000
LINCOLN$314,827 $403,125 $487,250 $605,525 $210,000
OXFORD$314,827 $403,125 $487,250 $605,525 $147,000
PENOBSCOT$314,827 $403,125 $487,250 $605,525 $171,000
PISCATAQUIS$314,827 $403,125 $487,250 $605,525 $115,000
SAGADAHOC$351,900 $450,500 $544,550 $676,750 $306,000
SOMERSET$314,827 $403,125 $487,250 $605,525 $113,000
WALDO$314,827 $403,125 $487,250 $605,525 $179,000
WASHINGTON$314,827 $403,125 $487,250 $605,525 $119,000
YORK$351,900 $450,500 $544,550 $676,750 $306,000

How are FHA loan limits calculated?

Housing costs can vary widely throughout the country and even from county to county within a state, so the FHA loan limits differ from one county to the next.

Each year, the FHA announces a national loan limit for one-unit properties in low-cost areas. That loan limit – also called the “floor” – is set at 65% of the conforming loan limit for mortgages that conform to Fannie Mae and Freddie Mac guidelines. For 2019, the FHA loan floor is $314,827. That floor applies to most counties in Maine — but not all.

High-cost areas have their own loan limits, referred to as the “ceiling.” The ceiling is set at 150% of the conforming loan limit. For 2019, the national ceiling for one-unit properties is $726,525.

But in Maine’s affordable housing market, the ceiling is set much lower. There are only three counties in Maine with loan limits higher than the floor: Cumberland County, Sagadahoc County and York County. In those areas, the FHA loan limit for 2019 is $351,900.

The FHA backs mortgages on properties with up to four units, so each county has an applicable loan limit for two-, three- and four-family properties. In Maine, the ceiling for a four-family property in the most expensive counties is $676,750. You can look up the loan limits by county and by number of units using the FHA Mortgage Limits lookup tool available on the HUD website.

Are you eligible for an FHA loan in Maine?

The Maine Office of Tourism touts Maine as a great place to live due to its safe towns and cities, quality schools and ample recreational opportunities. If you agree, financing your purchase with an FHA loan should be no problem — at least from a loan limit perspective.

For more information on FHA loan requirements, including income requirements, credit score, down payments and more, check out our complete guide to FHA loans.