Homebuyer Education
This non-profit organization offers Homebuyer Education in the State of Maine.
hoMEworks
This MaineHousing program provides a $5K grant for taking a homebuyer ed class.
Advantage Program
This must be paired with a First Home Loan when borrowers have less than 20% downpayment.
Mortgage Insurance
Someone who has not had an ownership interest in their principal residence within the past 3 years is considered this.
First-Time Homebuyer
A homebuyer education course is completed in this amount of time.
8 Hours
Veterans receive a .50% interest rate reduction when participating in this program.
Salute ME Program
These 3 government insurers can be combined with the First Time Homebuyer program.
FHA, RD, VA
This organization determines if an applicant is eligible for MaineHousing’s FTHB program.
The Lender
When purchasing a Multi-unit property, this class must be taken.
Landlord Class
This program provides a larger grant and lower rate for those formerly in foster care or those whose parents have never owned a home.
First Generation Program
This Mortgage Insurance option can only be used in 6 towns in Maine.
Private Mortgage Insurance
Participants of this program are the only exception to MaineHousing’s FTHB requirement.
Salute Home Again Program
A borrower must take these 2 classes to qualify for the First Generation Program grant.
Financial Literacy and Homebuyer Education Classes
Mobile Homes can be financed without a government or Private Mortgage insurer using this mortgage option.
MHSI Program
The Mobile Home Self Insured Program adds this amount to MaineHousing’s base rate.
1%
Applicants must be within these two limits to qualify for the FTHB program.
Income and Purchase Price Limits