Maine Multi-Unit Advantage

How do you pay back Maine Multi-Unit Advantage?

It's a grant: you don't need a second mortgage and your loan amount stays the same.

Grant money is never repaid, as long as you follow the rules of the program.

Who can get Maine Multi-Unit Advantage?

• You must be buying a two- to four-unit property.
• Your income limit depends on your household size and location.
• You must be a first-time buyer, though there are exceptions.
• Your credit score must be at least 640.
• You'll need to take a homebuyer education course before buying.
• This help is tied to your MaineHousing First Home Loan, which an approved lender provides.
• There's a price limit, and it changes with the location and property type.

Use the agency income chart to find the exact income limit for your household size and county. Use our HUD income limits tool to see the median income for your area.

Applying for Maine Multi-Unit Advantage

1. You file your home loan and this request with one approved lender; MaineHousing pays this help through lenders it has approved.
2. Your lender compares your income, credit and the home with the program's rules, then sets the money aside for you.
3. At closing, the money goes toward your down payment and closing costs.

MaineHousing's page for Multi-Unit Advantage has all the rules and says if applications are open; the agency's lender list helps you choose one.

More first-time buyer programs in Maine

• Maine Advantage:

  As much as $5,000, grant.

• Maine First Generation Program:

  As much as $10,000, grant.

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