MaineHousing offers Basic Home loan mortgages as a result of an effective statewide circle away from banking companies, credit unions and you may home loan organizations
System Bottom line
MaineHousing’s Basic Financial System makes it much simpler plus sensible buying property of the by providing low repaired interest mortgages. Discover options with little or no downpayment expected, if in case you still need assistance with the cash having closure can cost you, i provide a downpayment and you may closure rates recommendations option titled Advantage.
Hardly any down payment – When an excellent MaineHousing mortgage was with a government guarantee (FHA/RD/ VA) or which have good MaineHousing recognized individual financial insurer, almost no down-payment needs.
MaineHousing happens to be offering an exclusive home loan insurance pilot system having Arch MI for example Tool Single Nearest and dearest qualities and you will approved Condominiums found in the cities of Bangor, Lewiston, Auburn, Westbrook, Portland or South Portland just. MaineHousing Short Book
Advantage down-payment and closure pricing assistance – The advantage solution offer $5,100000 into the money you need to have closing. People going for Virtue must take a beneficial hoMEworks-accepted homebuyer knowledge group in advance of closing and really should make good minimum borrower contribution of just one% of your own mortgage. Read more
