Maine Advantage Down Payment Assistance
MaineHousing
Program Overview
The Advantage program provides $5,000 financial assistance toward down payment and/or closing costs. Minimum 1% borrower contribution required, but homebuyer education class fee counts toward this. Requires completion of hoMEworks-approved homebuyer education class BEFORE closing, so start early!
Eligibility Requirements
• Must complete hoMEworks-approved homebuyer education class BEFORE closing\n• Minimum 1% borrower contribution required (education class fee counts toward this)\n• Must be combined with First Home Loan mortgage
Additional Requirements
• Complete homebuyer education course\n• MaineHousing First Home Loan required\n• 1% minimum borrower contribution
How to Apply
1. Enroll in and complete hoMEworks homebuyer education class EARLY\n2. Apply for MaineHousing First Home Loan through approved lender\n3. Request Advantage DPA as part of loan package\n4. Make minimum 1% contribution (education class fee counts)\n5. Receive $5,000 assistance at closing