Maine Salute ME Benefits

The Maine Salute ME Benefits program, offered by MaineHousing, is tailored to assist veterans, active-duty military members, and their families in achieving affordable homeownership. This initiative provides financial support and reduced mortgage costs to honor the service of those who have dedicated themselves to their country.

Benefits

• Offers competitive fixed-rate mortgages through MaineHousing, ensuring stable and predictable monthly payments.
• Provides reduced or eliminated private mortgage insurance (PMI) requirements, significantly lowering monthly housing expenses.
• Includes down payment and closing cost assistance to reduce upfront costs for eligible homebuyers.
• Supports the purchase of single-family homes, condominiums, and multi-family homes (up to four units), provided one unit is owner-occupied.
• Encourages long-term stability and equity-building opportunities for military families in Maine.

Eligibility Requirements

• Applicants must be veterans, active-duty military members, or their eligible family members.
• Income limits apply, varying by household size and the location of the property within Maine.
• The property must be located in Maine and used as the buyer’s primary residence.
• A minimum credit score of 640 is typically required, with lender-specific underwriting criteria also applying.
• Participants must complete a MaineHousing-approved homebuyer education course to ensure readiness for homeownership responsibilities.

Additional Information

The Maine Salute ME Benefits program is a meaningful initiative to support military families in achieving their homeownership goals. By providing financial assistance and reduced costs, the program empowers veterans and active-duty service members to secure stable housing and build long-term equity. Administered by MaineHousing, this program reinforces Maine’s commitment to honoring military service and fostering strong, sustainable communities across the state.