The Best Mortgage Lenders in Ellsworth, ME
Compare verified mortgage lenders serving Ellsworth, Maine. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ellsworth
Featured Mortgage Lenders
Union Mortgage Group
Union Mortgage Group, Inc.
Union Mortgage Group is a top-rated mortgage broker with over two decades of experience serving Maine, including Ellsworth. Known for personalized service and deep local expertise, they offer a wide range of loan programs with competitive rates. Their office in nearby Bangor provides convenient access for Ellsworth residents, and they are highly regarded for their responsive customer service and strong community presence, with numerous positive reviews highlighting their reliability and efficiency in handling complex mortgage scenarios.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with a strong local office in Portland that actively serves the Ellsworth area. Founded in 2000, they combine digital innovation with personalized support, offering competitive rates and a streamlined application process. Their team in Maine is praised for expertise in various loan types and exceptional customer satisfaction, making them a reliable choice for homeowners in Hancock County seeking flexible and efficient mortgage solutions.
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Newrez
Newrez LLC
Newrez is a well-established national mortgage lender that serves Ellsworth and throughout Maine, known for its robust loan offerings and customer-centric approach. Founded in 2008, they provide competitive rates and a seamless online experience, backed by strong customer reviews emphasizing their reliability and support. While headquartered in New Jersey, their extensive service network and dedication to Maine homeowners make them a top contender for those in Ellsworth seeking trustworthy and efficient mortgage services.
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Frequently Asked Questions
Common questions about mortgage lending in Ellsworth, ME
What are the current mortgage rates like in Ellsworth, ME compared to the national average?
Mortgage rates in Ellsworth typically align closely with national averages, but local lenders may offer competitive rates due to the community-focused banking environment. It's wise to compare offers from local credit unions like DownEast Credit Union or Bar Harbor Bank & Trust alongside national lenders, as they sometimes provide special programs for Hancock County residents.
Are there any first-time homebuyer programs specific to Ellsworth or Hancock County?
Yes, the MaineHousing First Home Loan Program is widely available in Ellsworth, offering competitive interest rates, down payment assistance, and homebuyer education. Additionally, some local lenders may have their own first-time buyer incentives, so it's beneficial to consult with an Ellsworth-based mortgage officer who is familiar with both state and local opportunities.
How does Ellsworth's seasonal economy affect mortgage approval for local workers?
Lenders in Ellsworth are accustomed to evaluating income for seasonal workers, such as those in tourism, fishing, or forestry. They may require a two-year history of seasonal employment and look at annual income rather than just peak season earnings. Providing tax returns and proof of consistent seasonal work can help demonstrate stable income for loan qualification.
What should I know about property taxes when getting a mortgage in Ellsworth?
Ellsworth property taxes are relatively moderate for Maine, but they can impact your debt-to-income ratio and monthly housing costs. Your lender will factor in the city's current mill rate (which was $19.90 per $1,000 of assessed value in 2023) when calculating your mortgage payment. Consider consulting with a local real estate agent to understand how taxes might change after purchase.
Are there special mortgage considerations for buying older homes in Ellsworth's historic areas?
Yes, many homes in Ellsworth's older neighborhoods may require specialized financing considerations. Lenders might require additional inspections for historic properties, and you may need to budget for potential repairs or updates. Some loan programs like the FHA 203(k) can be particularly useful for financing both purchase and renovation of Ellsworth's charming older homes.
Nearby Cities
Explore mortgage lenders in cities near Ellsworth, ME
Why Choose a Mortgage Lender in Ellsworth?
Local Market Knowledge
Lenders who understand Ellsworth's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Maine.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Ellsworth and get competitive rates on your home loan.