MaineHousing First Home Loan Program: 2026 Guide
How MaineHousing First Home works, who qualifies, how much down payment assistance is available, and whether it's right for you.
What is the MaineHousing First Home Loan?
A state-sponsored 30-year fixed-rate mortgage designed to help Maine first-time buyers (and buyers in targeted areas) afford a home. Rates are typically competitive, and eligible buyers can pair it with the Advantage grant for down payment and closing cost help.
Who qualifies
First-time buyer (no primary residence ownership in the last 3 years), income and purchase-price limits that vary by county and household size, primary-residence occupancy, and completion of homebuyer education. Target areas have expanded eligibility.
Advantage down payment grant
Eligible borrowers can receive up to $5,000 toward down payment and closing costs, which significantly lowers the cash-to-close on a typical Maine starter home.
When First Home is the right fit
Great for buyers with solid credit (usually 640+), modest savings, and a need to lower monthly payment. It's often stronger than FHA for low-to-moderate income Maine buyers once you factor in the lower MI and Advantage grant.
How to apply
Start with a preapproval and a MaineHousing-approved homebuyer education class. We'll tell you day one whether First Home is the right vehicle or whether FHA/VA/USDA serves you better.