Down Payment Assistance Programs in Maine (2026 Guide)

# Down Payment Assistance Programs in Maine (2026 Guide) Saving for a down payment is one of the biggest hurdles for first-time home buyers. Fortunately, Maine offers 2 assistance programs that can help you achieve homeownership sooner than you thought possible. ## Maine Housing Agency All state DPA programs are administered by Maine State Housing Authority (MaineHousing). **Contact Information:** - Website: [https://www.mainehousing.org](https://www.mainehousing.org) - Phone: 207-626-4600 ## Available Programs Maine offers 2 major down payment assistance programs: ### First Home Loan Program | Feature | Details | |---------|---------| | Maximum Assistance | Up to $5,000 or 5% of purchase price | | Program Type | Forgivable Loan | | Description | Forgivable over 5 years. Competitive first mortgage rates. | ### Advantage Program | Feature | Details | |---------|---------| | Maximum Assistance | Up to $3,500 | | Program Type | Grant | | Description | Grant for closing costs and prepaid expenses. | ## How to Apply ### Step 1: Check Your Eligibility Most programs require: - First-time homebuyer status (no home ownership in past 3 years) - Income at or below program limits - Minimum credit score (usually 620-640) - Home price within program limits ### Step 2: Complete Homebuyer Education All MaineHousing programs require completion of a HUD-approved homebuyer education course. This prepares you for the responsibilities of homeownership. ### Step 3: Work with an Approved Lender MaineHousing maintains a list of approved lenders trained in their programs. These lenders can help you combine DPA with your mortgage. ### Step 4: Find Your Home Once pre-approved, work with a real estate agent to find a home within program price limits. ## Combining with Your Mortgage Down payment assistance can be layered with various loan types: | Loan Type | Min Down | With MaineHousing DPA | |-----------|----------|--------------------------| | FHA | 3.5% | DPA covers most or all | | Conventional | 3-5% | DPA covers most or all | | VA | 0% | DPA for closing costs | | USDA | 0% | DPA for closing costs | ## Real Cost Savings With Maine's median home price of $266,400: | Scenario | Down Payment Needed | With Max DPA | |----------|--------------------|--------------| | FHA (3.5%) | $9,324 | Potentially $0 | | Conventional (5%) | $13,320 | Significantly reduced | | Conventional (20%) | $53,280 | Reduced by DPA amount | ## Conclusion Don't let down payment concerns keep you from homeownership. Maine's DPA programs have helped thousands of first-time buyers achieve their dream. Contact MaineHousing today to learn which programs you qualify for. Use our [Maine Mortgage Calculator](/mortgage-calculator/maine) to see how DPA affects your monthly payment. --- *Source: Maine State Housing Authority. Program details subject to change. Contact MaineHousing for current requirements.*