If you’re thinking about buying a home in Maine, you may have more options than you realize. The MaineHousing First Home Loan is a state-sponsored mortgage program designed to help Maine residents access homeownership — and Supreme Lending is proud to be an approved MaineHousing lender.
Here’s everything you need to know about the program and how to use it.
What Is the MaineHousing First Home Loan?
The MaineHousing First Home Loan is a fixed-rate mortgage program offered through the Maine State Housing Authority. It is designed to help low-to-moderate income buyers in Maine access financing with competitive terms and down payment support.
As an approved MaineHousing lender, Supreme Lending delivers this program directly to Maine homebuyers — combining the strength of a national lender with the benefit of a state-backed program.
What Is the Advantage DPA Program?
The MaineHousing Advantage DPA program pairs with the First Home Loan to provide up to $5,000 toward your down payment and closing costs. For many buyers, upfront costs are the biggest barrier to homeownership. This program is specifically designed to reduce that barrier.
Key things to know about Advantage DPA:
- Up to $5,000 toward down payment and closing costs
- Must be used in combination with the MaineHousing First Home Loan
- Available to buyers who meet MaineHousing income and purchase price guidelines
- Structured as a second lien — not a grant
Who Qualifies for the MaineHousing First Home Loan?
The MaineHousing First Home Loan is available to buyers who meet the following general guidelines:
- Have not owned a home in the past three years (standard first-time buyer definition)
- Meet MaineHousing income and purchase price limits — which vary by household size and county
- Minimum 640 credit score
- Purchasing a primary residence in Maine
- Eligible property types include single-family homes, condos, and qualifying multi-unit properties
Income and purchase price limits apply. A Supreme Lending loan officer can help you determine whether you meet the program requirements.
What Loan Types Are Available?
One of the strengths of the MaineHousing First Home Loan is its flexibility. The program is available as:
- FHA — ideal for buyers with lower down payments
- VA — for eligible veterans and active-duty service members
- USDA — for buyers in eligible rural areas of Maine
- Conventional — for buyers who meet conventional financing guidelines
Your Supreme Lending loan officer will help identify which loan type best fits your situation.
What Is the First-Generation Pilot Program?
Maine also offers an additional layer of assistance for buyers who are the first in their immediate family to purchase a home. The First Generation Pilot Program provides enhanced down payment assistance beyond the standard Advantage DPA amount for eligible borrowers whose parents or guardians did not own a home — or lost a home to foreclosure.
This is a pilot program and funding availability should be confirmed at time of application. Contact a Supreme Lending loan officer in Maine to learn more.
Why Choose Supreme Lending for Your MaineHousing Loan?
Supreme Lending is an approved MaineHousing lender with the experience and resources to guide Maine buyers through every step of the homebuying process. We understand the MaineHousing program guidelines, work within state requirements, and are committed to helping more Maine residents find their path to homeownership.
Whether you are a first-time buyer exploring your options or a repeat buyer who meets program guidelines, our team is here to help you understand what is available and how to move forward.
How to Get Started
Getting started with the MaineHousing First Home Loan through Supreme Lending is straightforward. Connect with a Supreme Lending loan officer in Maine to:
- Review your eligibility for the MaineHousing First Home Loan
- Explore down payment assistance options through the Advantage DPA program
- Identify the right loan type for your situation
- Take the first step toward homeownership in Maine
State-sponsored financing with down payment assistance — designed to help more Maine residents buy a home. Supreme Lending and MaineHousing are working together to make that possible.
Disclaimers
Income and purchase price limits apply. Subject to credit approval. Not all borrowers will qualify. Program guidelines and funding availability subject to change. Contact a Supreme Lending loan officer for current program details.