Maine Advantage

How do you repay Maine Advantage?

Grant.

With a grant, you don't repay the money, provided you follow the program's rules.

Who is eligible for Maine Advantage?

• Household size and location set the income limits.
• Yes, it's limited to first-time buyers, with exceptions.
• Your credit score must be at least 640.
• You'll take a homebuyer education course before buying.
• It's paired with a MaineHousing standard First Home Loan.
• The price limit depends on where the home is and its property type.

For the exact limit for your county and household size, see the income chart from the agency. Use our HUD income limits lookup to find the median income in your area.

Applying for Maine Advantage

1. Because MaineHousing distributes this help through its approved lenders, you apply with one of them when you apply for your home loan.
2. Your lender checks the home, your income and credit against the program's rules and sets the money aside for you.
3. The money is paid at closing and goes toward closing costs and your down payment.

For the full rules and whether it's accepting applications, see MaineHousing's page for Advantage, or choose a lender from the agency's participating lender list.

More first-time buyer programs in Maine

• Maine Multi-Unit Advantage:

  Grant of up to $14,000.

• Maine First Generation Program:

  Grant of up to $10,000.

Every Maine first-time home buyer program · Down payment help in every state