Bootcamp For Buyers

First Time Homebuyer Programs in Maine

Maine offers a variety of programs through MaineHousing to help first-time homebuyers achieve their homeownership goals. These programs provide down payment assistance, competitive mortgage rates, and other resources tailored to new buyers.

First Home Loan Program

The First Home Loan Program provides affordable mortgage options for eligible buyers.

  • Offers a 30-year fixed-rate mortgage with low interest rates.
  • No private mortgage insurance (PMI) required, reducing monthly costs.
  • Income and purchase price limits apply based on location and household size.

Advantage Down Payment and Closing Cost Assistance

This program provides financial support for upfront homebuying costs.

  • Offers $5,000 in assistance for down payments and closing costs.
  • Structured as a second mortgage with 0% interest, deferred repayment.
  • Must be combined with the First Home Loan Program.

Salute ME Benefits

The Salute ME Benefits program supports veterans and active-duty military personnel.

  • Includes lower interest rates for qualifying borrowers.
  • Can be combined with other MaineHousing programs for enhanced benefits.
  • Designed to honor and support military service members.

Maine’s first-time homebuyer programs are designed to make homeownership more affordable and attainable. Explore these opportunities and take the first step toward owning your dream home in the Pine Tree State.