First-Time Home Buyers Program in Maine

We understand that it can be difficult for first-time home buyers to come up with the funds for down payments, closing costs, and other related expenses. These programs selected by KFS Mortgage Company are designed to help first-time buyers on their journey to homeownership.

MaineHousing First Home Loans


These loans make it easier for first-time home buyers by providing low, fixed-rate mortgages with low or no down payment requirements. Buyers can also qualify for down payment and closing cost assistance through MaineHousing’s Advantage program. By completing a hoMEworks-approved education class, program participants are eligible to receive $3,500 towards closing costs on a single-family home. Additionally, if you buy a 2 - 4 unit home, you can receive $3,500 for each additional unit in the home.

How to Qualify:
 
  • You have never owned a home or have not held an ownership interest in your principal residence within the last three years
  • You have an acceptable credit history with a score of at least 640
Eligible Homes:
 
  • New and existing single-family homes
  • Owner-occupied 2- to 4-unit homes
  • Condominiums
  • Permanently attached mobile homes built within the last 20 years

MaineHousing SaluteME & Salute Home Again


These loan options are for Maine veterans, active-duty members, and retired military personnel. They provide a 0.25% discount on the already low MaineHousing rates.

Even if you are not a first-time home buyer, you may still be eligible with the Salute Home Again program. Both loans are available for home purchase loans with little to no down payment. And they are eligible for the Advantage program ($3,500 or more toward closing costs) when you complete a hoMEworks-approved education class.

How to Qualify:
 
  • You remain on active duty or have been honorably discharged from military service.
  • You served on active duty for 180 days or within a war zone. National Guard members who meet this qualification are eligible.
  • You have an acceptable credit history with a score of at least 640
Eligible Homes:
 
  • New and existing single-family homes
  • Owner-occupied 2- to 4-unit apartment buildings
  • Condominiums
  • Permanently attached mobile homes built within the last 20 years

If you have more questions about any of the first-time home buyers programs, be sure to reach out to KFS Mortgage Company for more information.