Who qualifies for MaineHousing Advantage?
Advantage does not increase the loan amount; there is no second mortgage and no rate add-on.
| Detail | Program terms |
|---|---|
| Assistance | $5,000 toward cash needed for closing |
| Type | Grant (no repayment) |
| Minimum credit | Not published on the program page |
| First-time buyer | See official page |
| Income limits | See official page |
How does MaineHousing Advantage work with an FHA loan?
Maine's 2026 FHA one-unit limits start at $541,287, which supports a price of about $560,000 with 3.5% down. On a $250,000 home, the minimum FHA down payment is $8,750 — assistance of up to $5,000 could cover it and part of closing costs, subject to program rules.
Where do I confirm current terms?
On the official page: https://www.mainehousing.org/programs-services/homebuyer/first-home-program-faqs. Programs can pause when funds run out, so confirm availability with a participating lender.
“Advantage provides $5000 toward the cash needed for closing.” — MaineHousing
Frequently asked questions
Sources
- MaineHousing — MaineHousing Advantage (official page, verified October 23, 2026)
- HUD — 2026 FHA limits
Data last updated October 23, 2026.
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Get My MatchesFigures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.