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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.870%APR 6.905% | 0 pts$0 | $3,558/moP&I $3,558 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.004%APR 6.773% | 0 pts$0 | $3,560/moP&I $3,307 · MI $253 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.949%APR 5.998% | 0 pts$0 | $3,231/moP&I $3,231 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.616%APR 6.651% | 0 pts$0 | $3,467/moP&I $3,467 · MI $0 | See details |
| Investment Property FixedConforming | 7.583%APR 7.623% | 0 pts$0 | $3,820/moP&I $3,820 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 5.949% | 5.998% | 0 pts ($0) | $4,558/mo | $90,529 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.951% | 6.002% | 0 pts ($0) | $5,698/mo | $126,410 |
Condo 10% Down | 10% | 720 credit score | 7.102% | 7.269% | 0 pts ($0) | $4,098/mo | $143,486 |
Conventional 10% Down | 10% | 720 credit score | 6.566% | 6.721% | 0 pts ($0) | $3,880/mo | $133,640 |
Conventional 20% Down | 20% | 740 credit score | 6.870% | 6.905% | 0 pts ($0) | $3,558/mo | $109,934 |
Conventional 5% Down | 5% | 700 credit score | 6.990% | 7.467% | 0 pts ($0) | $4,277/mo | $149,284 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.314% | 7.352% | 0 pts ($0) | $4,651/mo | $159,695 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $4,009/mo | $135,821 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.778% | 7.152% | 0 pts ($0) | $4,274/mo | $154,143 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.616% | 6.651% | 0 pts ($0) | $4,333/mo | $145,444 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $5,590/mo | $133,276 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.004% | 6.773% | 0 pts ($0) | $3,990/mo | $140,009 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $4,104/mo | $143,679 |
FHA Streamline Refi | 0% | 640 credit score | 6.159% | 6.931% | 0 pts ($0) | $4,203/mo | $148,298 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.963% | 7.206% | 0 pts ($0) | $4,265/mo | $154,552 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $4,238/mo | $82,975 |
Investment Property 25% Down | 25% | 740 credit score | 7.583% | 7.623% | 0 pts ($0) | $3,581/mo | $113,989 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $3,651/mo | $114,100 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $3,939/mo | $120,774 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.377% | 7.152% | 0 pts ($0) | $4,150/mo | $147,469 |
Second Home 10% Down | 10% | 720 credit score | 6.027% | 6.601% | 0 pts ($0) | $3,666/mo | $123,755 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,563/mo | $110,163 |
VA 0% Down | 0% | 700 credit score | 5.999% | 6.242% | 0 pts ($0) | $4,148/mo | $136,799 |
VA Cash-Out Refi | 0% | 640 credit score | 6.010% | 6.377% | 0 pts ($0) | $4,153/mo | $137,027 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.032% | 6.183% | 0 pts ($0) | $4,163/mo | $137,485 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $3,728/mo | $117,924 |
Frequently Asked Questions
What are today's mortgage rates in Wells-Ogunquit Community, ME across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Wells-Ogunquit Community, ME is 6.870% (with an estimated monthly payment of $2,556). Active program rates also include FHA 30-year fixed loans at 6.004% and VA 0%-down fixed loans at 5.999%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Wells-Ogunquit Community, ME?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in Wells-Ogunquit Community, ME have fluctuated between a low of 6.491% and a high of 6.952%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in Wells-Ogunquit Community, ME?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $677,400 in Wells-Ogunquit Community, ME, a standard 20%-down Conventional loan requires an upfront cash down payment of $135,480 but keeps your monthly payment lower at $2,556/mo (at 6.870% interest) with no monthly PMI. In comparison, an FHA loan requires only $23,709 (3.5% down) but has an estimated payment of $2,866/mo (at 6.004% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $653,691 falls comfortably within the local HUD FHA loan limit of $779,010 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in Wells-Ogunquit Community before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Wells-Ogunquit Community is $806,501. With a typical local home value of $677,400 in , a standard 20%-down mortgage requires a loan size of $541,920. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in Wells-Ogunquit Community, ME impact estimated mortgage payments?
The median home value in Wells-Ogunquit Community, ME is estimated at $677,400. Buying a typical home here with a standard 20% down payment ($135,480) translates to an estimated starting monthly mortgage payment of $2,556 (principal and interest). Compared to the local area median household income of $83,194 ($6,933/mo), this basic housing payment represents approximately 36.9% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.