You might be able to get help if you’re a first time home buyer in Maine. The state has many programs available you might be able to use to help you purchase your first home. You could even get help paying for your down payment!
Use these grants to become a first time home buyer in Maine.
You might be able to get help with the down payment or closing costs if you’re a first time home buyer in Maine. You could get up to $3,500 from the Maine Housing Authority. This could help you save money on the costs you might have to pay up front when you’re purchasing your home.
The USDA direct loan could help you by providing you with 100% financing. With the loan, you might not have to pay for your down payment. The program has guidelines you’ll have to meet including income and credit requirements. You’ll also have to live in an area the USDA deems rural.
Homeownership help is available in Maine.
You might be able to get help with the USDA guaranteed loan. The loan guarantee is different from traditional loans because it provides you with a set interest rate. You might also be able to qualify for a mortgage with a lower credit score and lower income. The USDA still requires buyers to meet their requirements including living in a rural area.
Are you in a situation where you feel your housing is unsafe or you don’t have a housing plan? You might be able to get help through the Habitat for Humanity. The organization may require you to be on a waitlist, but you could get help. You will be required to meet their guidelines in addition to putting sweat equity into the home.
The First Home Loan program is a program you might be able to use if you’re a first time home buyer in Maine. The program could help you get an affordable loan you can use to purchase your first house. There are requirements you’ll need to meet including credit and income requirements.
These programs might help if you’re a first time home buyer in Maine.
The Indian Housing Mortgage Insurance program could help if you’re purchasing a home and need help with the insurance for it. You might need to meet requirements including tribal requirements to get this help. The program might also be able to offer other resources that could help you as a first time home buyer.
The Maine Homeworks program provides homebuyer classes for people who qualify throughout the state. You can learn more about the homebuying process, what you need to do to purchase a home and how you can handle the homebuyer process. The program might also be able to help if you need assistance after you’ve purchased your home.
Military buyers can get more help.
The Salute ME program could provide help to veteran and military buyers. If you’re a first time home buyer in Maine and you meet the program requirements, you might be able to get a .25% discount on interest rates in addition to fixed interest. You might be able to use the program in combination with other federal and state programs to make buying your home even easier.
The VA provides help to people who are qualified. Using the VA program, you might be able to get lower interest rates, better mortgage terms and a home with lower credit and income requirements. The program might also be able to help disabled veterans get into homes that are adaptable to their disabilities.
Your county might be able to help.
There are some counties in Maine that might be able to help you as a first time home buyer. From down payments to closing cost assistance and so much more, counties could offer valuable help to people who qualify.
The Auburn Homebuyer program might be able to help if you’re a first time home buyer in Maine. You could get up to $5,000 in grant money toward your down payment and closing costs. The city requires you to have a minimum of $25,000 in income and meet other requirements. The maximum income is based on your household size. In addition to their home buyer grant, Auburn also offers budgeting advice and credit counseling for buyers who are in need of assistance before buying a home.
Lewiston provides help for people who qualify for their city housing program. You might be able to get help if your income is at or below the 80% median income. You will also need to meet their other requirements if you want to get help purchasing a home. The program might not be available at all times.
The Portland Community Development division provides housing assistance to people who qualify. You might be able to get help with housing so you can get into a home with lower credit and lower income requirements. Portland might also be able to help you with an affordable home search and a variety of other programs that could make the homebuying process a possibility.
Augusta Community Development might be able to help if you’re a first time home buyer in Maine. The programs the division offers include assistance for home buyers, down payment assistance and more. You will need to meet the city’s requirements to get help with your home buying journey.