Maine Advantage
MaineHousing offers Advantage to first-time buyers in Maine: up to $5,000, as a grant.
- Amount
- Up to $5,000
- Kind of help
- Grant
- First-time buyers only
- Yes, with exceptions
- Credit score
- 640 or higher
How is Maine Advantage paid back?
Grant.
A grant is money you never pay back, as long as you keep to the program's rules.
Who qualifies for Maine Advantage?
- Income limits vary by household size and location.
- First-time buyers only: yes, with exceptions.
- A credit score of 640 or higher.
- A homebuyer education course before you buy.
- It comes with a MaineHousing standard First Home Loan.
- Price limit: varies by location and property type.
The exact income limit for your county and household size is on the agency's income chart. Our HUD income limits lookup shows your area's median income.
How to apply for Maine Advantage
- MaineHousing pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on MaineHousing's page for Advantage, or pick a lender from the agency's list of participating lenders.
Ask a lender about Maine Advantage
Tell us where you're buying and a lender that works with Maine's programs can tell you whether Maine Advantage fits you, and what you could combine with it.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in Maine
- Maine Multi-Unit Advantage: up to $14,000, grant.
- Maine First Generation Program: up to $10,000, grant.
All Maine first-time home buyer programs · Down payment assistance in every state