The 207 Number
What price can I actually buy at, and what is the true monthly payment.
Get My 207 NumberNo credit pull. This is not an application.Started in 2004, still here.
Know your number before you shop. The 207 Number tells you exactly what you can buy in southern Maine.
One broker. Southern Maine. Since 2004.
Share income, debts, and cash on hand. Get a real purchase price, a real monthly payment, and the loan program that fits. Free. No credit pull. Not an application.
No credit pull. This is not an application.Three tools, three plain answers
One question each. Real numbers back.
Most mortgage sites hide behind calculators that guess. These three tools return a working number you can act on, and they lead straight to a broker who can back the number up.
The 207 Move Number
If I sell my current home, how much cash do I walk with, and what does that means for the next one.
Get My Move NumberNo credit pull. This is not an application.The 207 Cash Flow Number
For an investment property in Maine, does the rent cover the loan and expenses, and by how much.
Get My Cash Flow NumberNo credit pull. This is not an application.How it works
From getting your number to keys in hand.
Speed is the differentiator. Most brokers quote industry-average timelines; the schedule below is what Travis actually runs.
Today · minutes
Get your 207 Number
Answer a short set of questions online. Working purchase price and payment, on the spot.
Today
Talk with Travis
Call or text 207.615.7770 the moment your number renders. Confirm the plan, pick the program. Travis answers.
Within 24 hours
Full pre-approval
With your documents in hand, credit review and a real pre-approval letter inside 24 hours. Shop with it immediately.
Under contract
Offer accepted
Travis locks the rate at the right moment and orders the appraisal same day.
10 to 15 business days
Clear to close
Final underwriting, closing disclosure, signing, keys. Ten to fifteen business days on a clean file in today’s market.
Typical timelines with complete documentation. Every loan is different. Travis tells you on day one if yours will run longer.
Statewide
One area code. The whole state.
Maine runs on a single area code. 207 covers every town from Kittery to Fort Kent. So does this desk.
Portland
Cumberland County
South Portland
Cumberland County
Scarborough
Cumberland County
Cape Elizabeth
Cumberland County
Falmouth
Cumberland County
Yarmouth
Cumberland County
Westbrook
Cumberland County
Gorham
Cumberland County
Windham
Cumberland County
Brunswick
Cumberland County
Topsham
Sagadahoc County
Saco
York County
Biddeford
York County
Old Orchard Beach
York County
Kennebunk
York County
Wells
York County
York
York County
Kittery
York County
Sanford
York County
Lewiston
Androscoggin County
Auburn
Androscoggin County
Lisbon
Androscoggin County
Augusta
Kennebec County
Waterville
Kennebec County
Bangor
Penobscot County
The County
Aroostook: Presque Isle, Caribou
Broker vs single source
A bank sells one menu. A broker shops the menu for you.
Banks and direct lenders quote you off their own rate sheet. If their program is not the best fit, they still sell it. As a broker, Travis has relationships with many wholesale lenders. Your file gets priced against multiple options, and the one that actually wins on rate, cost, and fit is the one you close on.
What a broker does
- Shops many lenders against your specific file.
- Compares conventional, FHA, VA, USDA, jumbo, DSCR, and construction options.
- Explains the trade offs of rate, points, and cash to close in plain language.
- Owns the file from application to closing. One phone number, one text thread.
- Recommends the option that fits your life, not the one the bank has to sell.
What a single source lender does
- Quotes off their own internal rate sheet only.
- Fits your file to their programs, even when a better program exists elsewhere.
- Passes you through call centers and shifting loan officers.
- Rarely tells you what you would have paid at a different lender.
- Sells the product. Not the fit.
Find your path
Pick the situation that fits you.
First-time buyer
Low down payment options, credit prep, and the real cost of owning in southern Maine.
Moving to Maine
Buy in Maine from out of state. Timing, financing across state lines, what to expect.
Live in Maine, work in New Hampshire
Commuter buyers get their income counted right and their taxes explained plainly.
Invest with DSCR
Rental property financing that qualifies on the rent, not on your W-2.
Second homes and camps
Lakes Region, coast, and mountain properties. Financing that fits how the property is used.
Just want a number
Skip the pitch. Get your 207 Number and decide from there.
207 Market Pulse
What southern Maine is actually doing this week.
Real conditions on rates, inventory, and days on market in the towns you care about, written by a broker who is in files every day. Coming with the market page in the next update.
Read the pulse207 Market Pulse
Buying power right now.
At this week's market, a $2,800 monthly budget buys roughly $317,000 in Saco and $333,000 in Scarborough.
- Freddie Mac PMMS 30-year: 6.81% as of 2024-11-14 · source
- Optimal Blue OBMMI 30-year conforming: 6.87% as of 2024-11-15 · source
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
About Travis
Owner-run. Answers his own phone. Since 2004.
Travis Penny has been closing Maine home loans since 2004. He runs 207.mortgage under the Home Loan GOAT brand at travis.mortgage. When you text or call, you talk to Travis. Not a rotation. Not a call center. Not a chatbot. That is by design. Mortgages are a once every few years decision, and the person who owns the file should own the phone.
As a licensed broker (NMLS #1649161), Travis works with a stable of wholesale lenders and shops each file against real options. First-time buyers, move up buyers, commuters between Maine and New Hampshire, real estate investors, and second home buyers all end up here for the same reason: a straight number, a broker who picks up, and a plan they can follow.
FAQ
The questions buyers actually ask.
How fast can you get pre-approved for a mortgage in Maine?
With complete documents in hand, a real pre-approval letter goes out inside 24 hours. Send W-2s, pay stubs, bank statements, and ID; credit is reviewed the same day and the letter follows. Every loan is different, so a file with self-employed income or a divorce decree can run longer.
How long does it take to close on a house in Maine?
Ten to fifteen business days on a clean file in today's market, measured from an accepted purchase and sale to keys. Appraisal timing, title work, and condo document review are the usual variables. Travis flags anything that could push the date on day one.
Do you need a pre-approval before making an offer in Maine?
Practically, yes. Southern Maine sellers rarely look at an offer without a preapproval letter attached, and in tight segments most contracts arrive with underwritten preapprovals. A three-minute call is enough to start.
What credit score do you need to buy a house in Maine?
Conventional loans generally start at a 620 score; FHA can go lower. Pricing meaningfully improves at 680, 700, 740, and 760+. Under 620, focused credit repair for a couple of months often changes the loan program you qualify for. See the first-time buyer hub for the walk-through.
How much of a down payment do you need to buy a house in Maine?
Not twenty percent. Conventional loans allow three percent down for qualified first-time buyers; FHA allows 3.5; VA and USDA allow zero down for eligible borrowers. MaineHousing runs first-time-buyer programs with additional down payment help. The right minimum depends on price, credit, and program.
What are closing costs in Maine?
Buyer closing costs typically run two to four percent of the purchase price, plus down payment and prepaids for insurance and tax escrow. Sellers can cover buyer closing costs as a negotiated concession, up to program-specific limits. Every dollar is disclosed in writing before you commit.
Can I buy a house in Maine before I move there?
Yes. The borrower can live in any state; the property has to be in Maine. Most out-of-state buyers get pre-approved months before their move, tour on weekends or by video, and close before relocating. See the Moving to Maine hub.
Does Maine tax retirement income?
Maine taxes most retirement income at ordinary state rates, with a per-pensioner pension deduction. Social Security is exempt from Maine state income tax. This is a summary, not tax advice. Confirm with a Maine CPA for your specific situation.