Closing costs in Maine
On a $500,000 home with 20% down, buyers in Maine typically pay about $8,783 to $19,700 at closing, including prepaid taxes and insurance.
Typical buyer total1.8%–3.9%Of the price, 20% down
Closings handled byA title or settlement companyCustomary in the state
Buyer-paid taxes1See below
Buyer-paid taxes
| Tax | On $500,000 with 20% down | Note |
|---|---|---|
| Real estate transfer tax (buyer’s half) | $1,100 | Maine charges $2.20 per $500, split equally, plus $3.80 per $500 on value above $1 million. Buyers using a MaineHousing first-time buyer loan are exempt. |
Estimated closing costs by price
| Price | Loan | Closing costs | Share of price |
|---|---|---|---|
| $300,000 | Conventional, 20% down | $6,810 – $14,900 | 2.3%–5.0% |
| $300,000 | FHA, 3.5% down | $7,084 – $15,663 | 2.4%–5.2% |
| $500,000 | Conventional, 20% down | $8,783 – $19,700 | 1.8%–3.9% |
| $500,000 | FHA, 3.5% down | $9,241 – $20,972 | 1.8%–4.2% |
| $750,000 | Conventional, 20% down | $11,250 – $25,700 | 1.5%–3.4% |
| $750,000 | FHA, 3.5% down | $11,936 – $27,608 | 1.6%–3.7% |
Who pays what in Maine
Maine law splits the transfer tax equally between buyer and seller.
Questions
How much are closing costs for buyers in Maine?
Often about 1.8% to 3.9% of the price with 20% down, including prepaid taxes and insurance.
Do buyers pay transfer tax in Maine?
Buyers typically pay: Real estate transfer tax.
More for Maine
Sources: Maine Revenue Services Property Tax Bulletin 31 (36 M.R.S. §4641-A). Fees are typical ranges, not quotes; your Loan Estimate lists the actual costs.