Mortgage Calculator & Closing Costs: Westbrook, ME
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Westbrook, Maine.
Median Home Price
$375K
Population
19K
Avg Monthly Rent
$1,480
Property Tax Rate
1.3% *
* Property tax shown is the Maine state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Westbrook.
Westbrook vs Maine Median
The median home price in Westbrook is $375,000, which is 7% above the Maine state median of $350,000.
Mortgage Calculator — Westbrook, ME
Pre-filled with Westbrook median home price and Maine tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $375K home using Maine's 1.3% tax rate and $1,300/yr insurance.
5% Down
$2,974/mo
Down: $18,750
Loan: $356K
P&I: $2,252
Tax: $406
Insurance: $108
PMI: $208
10% Down
$2,845/mo
Down: $37,500
Loan: $338K
P&I: $2,133
Tax: $406
Insurance: $108
PMI: $197
20% Down (No PMI)
$2,411/mo
Down: $75,000
Loan: $300K
P&I: $1,896
Tax: $406
Insurance: $108
Income needed (28% rule): $103K/year with 20% down, $122K/year with 10% down.
Rent vs Buy in Westbrook
Rent
$1,480/mo
vs
Buy (10% down)
$2,845/mo
Price-to-rent ratio: 21.1 — At a ratio above 20, renting may be more economical in Westbrook for shorter stays. Buying costs $1,365 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Westbrook is $375,000, 7% above the Maine state median of $350,000. With a population of 19,452, Westbrook is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Maine average 1.3% annually. This moderate property tax rate means a $375,000 home in Westbrook would carry roughly $406/month in property taxes. Homeowners insurance in Maine runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Westbrook is $1,480/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Westbrook presents moderate affordability. The $375K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Westbrook.