MaineHousing also offers Basic Home loan mortgages through a great statewide system out-of financial institutions, borrowing unions and mortgage businesses
System Realization

MaineHousing’s Earliest Mortgage Program makes it much simpler and reasonable to purchase a house of by providing lowest fixed interest rate mortgage loans. You’ll find options with little to no or no downpayment requisite, and in case you nonetheless still need help with the bucks for closure will cost you, we supply a down payment and you can closing rates advice alternative titled Virtue.
Very little advance payment – When a good MaineHousing home loan try together with a government guarantee (FHA/RD/ VA) otherwise having a beneficial MaineHousing accepted personal mortgage insurance provider, hardly any advance payment needs.
MaineHousing is currently giving an exclusive home loan insurance pilot system having Arc MI for 1 Product Single Relatives attributes and you may approved Condominiums found in the places off Bangor, Lewiston, Auburn, Westbrook, Portland or Southern area Portland simply. MaineHousing Quick Publication
Virtue downpayment and you may closing rates assistance – The advantage option provide $5,one hundred thousand into the the money you want to have closing. Applicants choosing Virtue must take an effective hoMEworks-approved homebuyer knowledge class just before closing and should build an effective lowest borrower contribution of 1% of your financing. (more…)