The Best Mortgage Lenders in Saint Francis, ME
Compare verified mortgage lenders serving Saint Francis, Maine. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Saint Francis
Featured Mortgage Lenders
LoanDepot
loanDepot, LLC
LoanDepot is a highly rated national mortgage lender known for its competitive rates and streamlined online application process. With over a decade of experience, they offer a wide array of loan products and have earned strong customer satisfaction for their efficient service, digital tools, and responsive support team. They serve Saint Francis, ME, and the broader Aroostook County area through their nationwide network, making them a reliable choice for borrowers seeking convenience and reliability.
Loan Types:
New American Funding
New American Funding
New American Funding is a top-tier mortgage lender praised for its inclusive lending practices and exceptional customer service. They specialize in assisting diverse borrowers, including first-time homebuyers and those with unique financial situations, and offer a comprehensive range of loan options. With a strong reputation for transparency and community support, they effectively serve Saint Francis, ME, through their national reach and dedicated loan officers.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is renowned for its fast processing times, personalized service, and active community engagement. They provide a variety of loan products with competitive rates and have a solid track record of customer satisfaction. Serving Saint Francis, ME, and surrounding regions, they combine national resources with a local touch, ensuring borrowers receive attentive guidance throughout the mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Saint Francis, ME
What are the current mortgage rates like in Saint Francis, ME compared to the rest of Maine?
Mortgage rates in Saint Francis are generally in line with statewide Maine averages, but may be slightly higher due to the rural nature and smaller local lending market. As of late 2024, rates for 30-year fixed mortgages typically range from 6.5% to 7.25% in the area. Working with lenders familiar with Aroostook County can help you secure competitive rates despite the rural location.
Are there any special mortgage programs for first-time homebuyers in Saint Francis?
Yes, MaineHousing offers several first-time homebuyer programs that are available in Saint Francis, including down payment assistance and competitive interest rates. Additionally, some local credit unions in Aroostook County may offer special programs for first-time buyers purchasing in rural communities like Saint Francis. These programs can be particularly valuable given the area's lower median incomes.
How does Saint Francis's rural location affect the mortgage approval process?
Saint Francis's rural classification can impact mortgage approval through USDA Rural Development loans, which are widely available here and offer 100% financing. However, some conventional lenders may require additional property inspections or have stricter appraisal requirements due to the limited number of comparable home sales in this small community. Working with lenders experienced in rural Maine properties is recommended.
What should I know about property taxes when getting a mortgage in Saint Francis?
Saint Francis has a municipal tax rate that's typical for rural Aroostook County communities, currently around $20.50 per $1,000 of assessed value. When calculating your mortgage payment, lenders will include these property taxes in your escrow account. It's important to note that property values in Saint Francis are generally lower than state averages, which helps keep overall tax burdens manageable for homeowners.
Are there any local incentives for purchasing energy-efficient homes in Saint Francis?
While there aren't Saint Francis-specific programs, Maine's Efficiency Maine program offers energy efficiency mortgages and rebates that are available to local homebuyers. Given the harsh northern Maine winters, lenders may also consider energy-efficient features favorably during the appraisal process. Some local lenders might offer slightly better terms for homes with recent energy efficiency upgrades, which can be particularly valuable in this climate.
Nearby Cities
Explore mortgage lenders in cities near Saint Francis, ME
Why Choose a Mortgage Lender in Saint Francis?
Local Market Knowledge
Lenders who understand Saint Francis'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 Saint Francis and get competitive rates on your home loan.