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.