MaineHousing has just launched a new program for first-generation homebuyers in the state of Maine. "This program is for people whose parents or guardians did not own a home that the applicant lived in during their lifetime," MaineHousing said in a news release.
"The program provides a $10,000 down payment assistance grant to applicants who complete both a Financial Literacy course and a Homebuyer Education class to help prepare them to be successful long-term homeowners," the release stated.
To be eligible for the program, applicants must meet income and credit score requirements, and the property being purchased must be located in Maine and used as the buyer's primary residence.
The program also offers homebuyer education and counseling to help first-generation homebuyers navigate the process and make informed decisions. MaineHousing partners with local lenders to provide a seamless home buying experience for participants.
The First Generation Program will surely be a valuable resource for first-generation homebuyers in Maine looking to overcome barriers and achieve their dream of homeownership.
Learn more about this groundbreaking program here!