The Best Mortgage Lenders in Harrington, ME
Compare verified mortgage lenders serving Harrington, Maine. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Harrington
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Bangor office serves the Harrington area with exceptional customer satisfaction ratings. They are known for their personalized service and extensive loan product offerings, including specialized programs for rural properties common in Washington County. Their team has deep knowledge of Maine's unique mortgage landscape and offers competitive rates with flexible underwriting. They consistently receive high marks for communication and closing efficiency.
Loan Types:
Bar Harbor Bank & Trust
Bar Harbor Bankshares
As a longstanding community bank with deep roots in Downeast Maine, Bar Harbor Bank & Trust has extensive experience serving coastal communities like Harrington. They offer local decision-making and understand the unique needs of Maine's seasonal economy and waterfront properties. Their mortgage specialists provide personalized service with competitive rates and flexible terms, making them a trusted choice for Harrington area residents seeking local banking expertise.
Loan Types:
Rocket Mortgage
Rocket Mortgage by Quicken Loans
While based nationally, Rocket Mortgage consistently ranks as one of the top mortgage lenders serving Maine, including rural areas like Harrington. They offer a completely digital mortgage experience with 24/7 accessibility, which is particularly valuable for residents in remote coastal communities. Their extensive loan products, competitive rates, and efficient online process make them a popular choice for Harrington homeowners seeking convenience without sacrificing service quality. They have strong expertise in rural lending programs ideal for Washington County properties.
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Frequently Asked Questions
Common questions about mortgage lending in Harrington, ME
What are the current mortgage rates like for homes in Harrington, ME?
Mortgage rates in Harrington typically align with national averages but can be slightly influenced by Maine's rural market conditions. As of recent trends, rates for 30-year fixed mortgages in Washington County generally range from the mid-6% to low-7% range, though individual rates depend on credit score, loan type, and down payment amount. Local lenders familiar with Harrington's market can often provide competitive rate options.
Are there any first-time homebuyer programs specifically available in Harrington?
Yes, Harrington homebuyers can access MaineHousing's First Home Loan Program, which offers competitive interest rates and down payment assistance for qualifying borrowers. Additionally, Washington County residents may qualify for local grants or USDA Rural Development loans, which are particularly relevant given Harrington's rural designation. These programs can make homeownership more accessible in this coastal community.
How does Harrington's rural location affect mortgage lending options?
Harrington's rural classification opens up valuable USDA loan opportunities that aren't available in urban areas, offering 100% financing with no down payment requirement. Many lenders also consider the town's stable, though limited, housing market when underwriting loans. The seasonal nature of some local employment (fishing, tourism) may require additional documentation for income verification.
What special considerations should I know about when getting a mortgage for Harrington's older homes?
Many Harrington homes were built in the early to mid-20th century, so mortgage lenders often require thorough home inspections and may mandate repairs for structural, electrical, or plumbing issues before loan approval. FHA 203(k) rehabilitation loans can be particularly useful here, allowing buyers to finance both purchase and renovation costs. Local appraisers are familiar with valuing Harrington's historic and coastal properties.
Are there property tax considerations in Harrington that affect mortgage qualifications?
Harrington has a mill rate of approximately 16.00 mills ($16.00 per $1,000 of assessed value), which is relatively moderate for Washington County. Lenders will factor these property taxes into your debt-to-income ratio calculations. It's worth noting that Maine offers property tax relief programs for eligible seniors and veterans, which can improve long-term affordability in your mortgage planning.
Nearby Cities
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Why Choose a Mortgage Lender in Harrington?
Local Market Knowledge
Lenders who understand Harrington'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 Harrington and get competitive rates on your home loan.