Maine State Housing Authority

 

**** Attention Maine Veterans **** 

Maine State Housing Authority is now offering .25% off their already low rates and up to $3,500 toward closing costs!
http://mainehousing.org/programs-services/homebuyer/salutemeClick here for details!

Maine State Housing Authority provides low fixed rate mortgages and other assistance to help make home ownership affordable for more Maine people. No point and low point options are available. There are options with little or no down payment required, though if you still need help with the cash needed for closing, MSHA also offers down payment and closing cost assistance. MSHA mortgages even come with payment protection for unemployment. Finance of America Mortgage is a preferred lender with Maine State Housing Authority.

 

First Home Program
The First Home Program provides low fixed rate mortgages to people who have not owned homes in the last three years. No point and low point options are available. Although income limits apply, most Maine households are income-eligible for the program. First Home mortgages also offer payment protection for eligible borrowers who lose their jobs.

 

Operation New Home
Operation New Home provides low fixed rate mortgages to veterans and active duty military personnel. No point and low point options are available. Although income limits apply, most Maine households are income-eligible for the program. People who are already homeowners are eligible, but they must be purchasing a home that will be used as their primary residence.

 

Disaster Assistance Loan Programs
The Disaster Assistance Loan Programs offers low-interest rate home repair loans and home replacement mortgages to homeowners whose homes are damaged or destroyed in a declared natural disaster.

 

Indian Housing Mortgage Insurance Program
The Indian Housing Mortgage Insurance Program is a mortgage insurance program for homes located on tribal land. This program provides a loan guarantee to lenders who finance homes on tribal land where the restrictions on ownership prevent lenders from holding a mortgage on the property.

 

In addition to Home Buyer Assistance, Maine State Housing offers Home Improvement Assistance, Rental Assistance, Energy Assistance, Homeless Assistance and Housing Development.

 

Here are the current interest rates for First Home Program and Operation New Home

Click here for FAQ's about Maine State Housing loan programs.

Ready to take your First Time Homebuyer Education Course? Click here to go to EHome America.