Young couple unpacking boxes in their new home

First time home buyer

Borrow up to 100% of purchase price
  • Borrow up to 100% of purchase price with a Maine Housing First Home Loan and a Rural Housing Guarantee
  • Reduced interest rates, Maine Housing First Home Loan rates are often lower than conventional loans
  • Closing cost assistance, non-repayable grant funds from Maine Housing Advantage credited towards closing costs
  • Taxes and insurance are added to your monthly payment so you only make one payment to Maine Housing's loan servicer for your housing expense
  • Borrow up to 95% purchase price on manufactured and mobile homes on purchased or leased land
How do I buy my first home?
  • Do you qualify for a First Home Loan? If you don’t know, ask us! Our Community
    Bankers are your First Time Home Buyer experts.
  • A Community Banker will provide you with a ‘Prequalification Letter’ to show
    realtors, home sellers and manufactured home dealers. This shows you are serious
    about buying a home and have already been program qualified through a bank.
  • We can steer you towards Education Opportunities with First Time Home Buyer
    classes through local community action agencies, and on-line programs. These
    provide you with great knowledge about the process, and can allow you to be
    eligible for closing cost assistance.
  • If it has happened to you, we have seen it. So whether you have no credit or credit
    which needs rebuilding, we can put you on the right path towards qualification.