Fishing for Maine first time home buyer grants to obtain a home? Find the best grants, programs for home buying in Maine and other down payment assistance below.
Are you wanting to purchase a dwelling in Maine? The Prospect of buying a house in any state is cool!
Although cool to buy a home, it can give you butterflies in your stomach! Don't worry and become overwhelmed. It is my plan to give you some useful information about these grants that will help you plod forward.
To begin with, the State of Maine does offer a Maine first time home buyer grant program for its residents. This is good news because not all states are able to offer assistance to first time home buyers. The state agency which maintains Maine's first time home buyer grant program is the Maine State Housing Authority. Maine offers one type of grant.
This program is called the "Advantage". You may be eligible to receive up to $3,500 to assist with your down payment and closing costs. This program is only available to first time buyers or those who haven't owned a home in the past three year. It does have a unique requirement, 1% of the loan amount must be given as a contribution. This can be a gift or be applied to their education requirement.
Another program designed to help is the "First Home Program." It has a low interest rate and you can use the "Advantage" program with it.
Additionally, there is a "Purchase Plus Improvement Program (PPI)." This program allows you to finance repairs for the home you want to buy. Pretty cool! If the home you are investigating needs updating badly, you can get help to do it.
All these programs have requirements and limitations. So go fishing through their eligibility to find the one that meets your dreams.
You should visit the Maine State Housing Authority to determine your eligibility.
In addition, the federal government offers grant assistance for first time home buyers in Maine. This program is maintained by the United States Department of Housing and Urban Development and is called the Homes and Communities program.
Their website contains useful information and applications. The website for the grant program maintained by the United States Department of Housing and Urban Development can be visited by using this link, HUD Grant Information.
Another website I would recommend that you view is Government Grants. This website offers a list of all federal government grant programs. It would be a good idea to take some time and browse through this site to see what it offers and the qualifications for application.
All grants take time for the process. From application to funding can take several months. So don't get discouraged and don't get impatient.
While waiting, why not start a saving plan by putting a little bit of money away each week. You may be surprised how much you have saved while your waiting for the grant.
Then if grant monies are not possible, you may now be in a position to qualify for one of the low down payment programs like FHA. Or if you do obtain assistance, your saved monies can go toward furniture or other items you may want for your new home.
Perhaps a grant is not available in your state. Or you do not qualify for one. Don't get discouraged. If you still want to save money, check out this page that discusses the zero down payment program.
Are you ready to find out if you're eligible for a home loan? Our Best FHA Home Loans page explains the FHA loan programs that are suited for first time home buyers.
Would you like to know what type of loans are available? Visit our Home Mortgage Information page for tons of information on all kinds of loans. Learn about FHA, VA, and various other types of options.
Would you like some help? Perhaps a personal coach to guide you through the process is what you're looking for. For free coaching, fill out the questionnaire here. Then you will be contacted and offered the assistance you seek.
Thank you for visiting our website for first time home buyers. Below you'll find more information to help you with grants for housing.
This link will take you to the HUD website and you will see a map of the USA. Click on your state and then you'll find a list of the local counseling agencies in your own area.
Happy House Fishing!!
Go to House Buyer Solutions Home Page.
Aug 05, 19 10:44 PM
Hi Help please! I am a first time home buyer, buying a home with my fiance'. He is selling his home currently on the market for $125K with no contingencies.
Apr 15, 19 12:36 PM
When buying a home out of state, should we wait for employment contracts? Or can we use our current state's bank? Find the answers here.
Apr 15, 19 12:13 PM
Will bankruptcy affect my mortgage approval? Can I still buy a home? Find the answer to these and more on this page.
Follow Us On Twitter