What is MaineHousing's First Home Loan Program?

It's a state-sponsored program designed to help eligible first-time buyers finance a home more affordably, often with below-market rates and optional down payment assistance.

Do I have to be a first-time buyer?

Not always. Some programs have exceptions based on prior homeownership history, target areas, and veteran status.

How much down payment do I need?

It depends on the loan program and assistance options available to you. Many first-time buyers put down 3–5%, and some qualify for 0% down via VA or USDA.

Can you help me get preapproved?

Yes — preapproval is the best next step after you review your loan options. Most files are approved within 24–48 hours.

What documents will I need?

Recent pay stubs, two years of W-2s or tax returns, two months of bank statements, photo ID, and a list of debts. We'll send a clean checklist.

Maine First-Time Home Buyer

First-Time Home Buyer Loans in Maine

Buying your first home in Maine doesn't have to be overwhelming. Compare MaineHousing, FHA, VA, USDA, and low-down-payment programs with a local loan officer.

Start My Preapproval See Today's Maine Rates

24–48 hr preapprovals

Conventional · FHA · VA · USDA · Jumbo

Equal Housing Lender

Start your Maine mortgage

Answer a few quick questions. No SSN required for your quote.

Buy a home

Purchase

Refinance

Lower rate / cash-out

First-time buyer

Low down payment

Prefer to talk? Call 207-831-1903.

Equal Housing Lender

Fair lending commitment

NMLS #249610

Seth Jacobs, Loan Officer

LeaderOne Financial

Company NMLS #12007

Local Maine support

Portland · Bangor · Statewide

MaineHousing First Home Loan Program

MaineHousing's First Home Loan Program is one of the most important local options for first-time buyers. It can be a strong fit for eligible borrowers who want a more affordable path to homeownership, often with down payment assistance and below-market rates.

How to Qualify

Eligibility depends on income, credit, home price, and whether the property will be your primary residence. We'll review the basic requirements before you start shopping so there are no surprises.

Down Payment Help

Some borrowers can use down payment assistance or low-down-payment loan options to make buying a home more manageable. We'll help you understand what you may qualify for and how it affects your monthly payment.

Documents to Prepare

Most buyers should be ready with recent pay stubs, W-2s, bank statements, identification, and details about debts and assets. Having documents ready can speed up preapproval.

FHA Loans

3.5% down with flexible credit guidelines. Popular with Maine first-time buyers.

VA Loans

0% down for eligible veterans and active-duty military. No PMI.

USDA Rural

0% down for eligible rural and suburban Maine properties.

Maine Mortgage Payment Calculator

Estimate your monthly payment. For an exact rate quote tailored to your scenario, get preapproved.

Home price

Down payment

Interest rate (%)

Loan term (years)

Annual property taxes

Annual homeowners insurance

Estimated monthly payment

$2,691

Principal & interest: $2,191

Taxes (monthly): $400

Insurance (monthly): $100

Loan amount: $337,750

Estimate only. Actual rates and payments depend on loan program, credit, and other factors.

Frequently Asked Questions

Ready to start your first-time buyer journey?

Same-day response from a local Maine loan officer.

Start your preapproval