The 207 Move Number
Your out-of-state home, mapped to a Maine home.
The 207 Move Number tells you three things a relocation buyer actually needs. What your equity looks like as a Maine down payment. What a comparable home costs in the town you have in mind. What the new monthly payment will run. Every figure ties to a named third-party source with an as-of date.
SAMPLE PASSAGE · BOSTON → SCARBOROUGH
ZHVI Boston metro, 2024-10 · MAR Cumberland Co., 2024-10 · PMMS 2024-11-14
Enter your move
No credit pull. This is not an application.Methodology
Here is exactly how the number is computed.
Equity as down payment.
Current home value minus remaining mortgage balance. The tool uses that number as the working down payment on the Maine home. Real net proceeds after closing costs, agent commissions, and any repairs are always a bit lower; Travis will help you sharpen the number when it matters.
Same-tier price at destination.
We take the Zillow Home Value Index for your origin metro (single family, published monthly), divide your current home value by that ZHVI to get your position relative to the origin market, then apply that ratio to the target Maine town's median sale price from the Maine Association of Realtors. The output is a directional estimate of a same-tier Maine home, not an appraisal.
State income tax swing.
We show the origin state's top marginal rate versus Maine's top marginal rate on your stated income, both pulled from the Tax Foundation's 2024 State Individual Income Tax Rates and Brackets. This is a stated comparison at the top of the bracket, not a full return. A CPA can turn it into a real projection.
Estimated Maine payment.
The tool uses the current PMMS rate, the target town's published mil rate for property tax, and the same Maine baseline homeowners insurance and PMI factors used by The 207 Number. All assumptions are editable inside The 207 Number tool if you want to fine-tune them.
What we do not fabricate.
Where an origin data point is not on file, the line is omitted rather than estimated. Homeowners insurance state-to-state swings are omitted in this build; get a real Maine quote from Travis to plug in the exact number.
Sources. Zillow Home Value Index (single family, seasonally adjusted, metro-level), published monthly at zillow.com/research. Tax Foundation, State Individual Income Tax Rates and Brackets, 2024. Maine Association of Realtors monthly single family report, mainerealtors.com. Freddie Mac PMMS 30-year fixed weekly average, freddiemac.com/pmms.
Who this is for
Boston to Portland. Brooklyn to Kennebunk. Denver to Freeport.
Most Maine buyers are not from Maine. Every loan here closes on a Maine property. The borrower can live anywhere in the United States during the process.
Buyers want two answers. What does current equity mean in Maine terms. Whether the monthly payment holds up. The tool answers both.
Common origin markets
Selling to buy in Maine? Run the math here first. Keeping the current home as a rental and buying a Maine primary? The DSCR tool on this site is the next stop.
FAQ
Relocation buyers ask these first.
Can I buy a house in Maine before I move there?
Yes. The property has to be in Maine, but the borrower can live in any state. Most out-of-state buyers get pre-approved months before their move, tour on weekends or by video, and close before relocating.
Can I get a mortgage with a remote job for an out-of-state company?
Yes. W-2 remote income counts like any other W-2 income; the address on your paystub does not restrict where you can buy. Some lenders will want a letter confirming the remote arrangement is permanent.
How much money do you need to move to Maine?
Plan for down payment (three to twenty percent of price), closing costs (two to four percent), prepaid insurance and tax escrow, plus moving costs and 60 to 90 days of reserves. On a $500,000 southern Maine purchase, total cash to close typically lands between $30,000 and $130,000 depending on program.
Does Maine tax retirement income?
Maine taxes most retirement income at ordinary state rates and provides a per-pensioner pension deduction. Social Security is exempt from Maine state income tax. Confirm your specifics with a Maine CPA.
How much are property taxes in Maine compared to other states?
Maine's effective property tax rate is above the national average but mil rates vary a lot inside the state: York around 10 per thousand, Portland around 13.55, Lewiston close to 28. On the same home, the town choice moves the annual tax bill by thousands.
Do I need to establish Maine residency before closing?
No. You do not have to register a car, change your driver's license, or file a Maine tax return before closing on a Maine home. Residency becomes relevant for the Maine homestead exemption after you occupy the property as a primary residence.
Can I close on a Maine home remotely?
Sometimes. Maine allows remote online notarization under specific rules and mobile notary closings are common. Availability depends on the title company and lender. Ask up front.
Market averages shown are sourced from the named indices and updated on their published schedule. These are market averages, not an offer or commitment to lend, and not a rate available to you. Your actual rate and payment depend on your credit score, down payment, qualifying income, loan type, loan amount, property type and occupancy, loan-to-value, points, and market conditions at lock. Rates change daily and are subject to change without notice. Figures are estimates for illustration only and do not constitute loan approval, a rate lock, or a guarantee. Travis Penny | NMLS #1649161 | Equal Housing Opportunity | nmlsconsumeraccess.org