Maine First Generation Program

How is Maine First Generation Program 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 First Generation Program?

• Only for borrowers who never lived in a home owned by their parents or legal guardians, or who were in foster care as children.
• Varies by county and household size, up to $159,965.
• Only for first-time buyers (usually no home owned in the past three years).
• A credit score of 640 or higher.
• A homebuyer education course before you buy.
• It comes with a MaineHousing First Generation Program fixed-rate mortgage from an approved MaineHousing lender.
• 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 First Generation Program

1. MaineHousing pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
2. The lender checks your income, credit and the home against the program's rules and reserves the money for you.
3. 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 First Generation Program, or pick a lender from the agency's list of participating lenders.

Other first-time buyer programs in Maine

• Maine Advantage: up to $5,000, grant.
• Maine Multi-Unit Advantage: up to $14,000, grant.

All Maine first-time home buyer programs · Down payment assistance in every state