MaineHousing First Home Loan + Advantage
MaineHousing’s First Home Loan is a low-fixed-rate mortgage with no liquid-asset test and a minimum borrower contribution of just 1% of the loan (which can be a gift). Paired with it, the Advantage grant adds $5,000 toward down payment and closing costs — no interest add-on, no extra documentation, no second mortgage. You must complete a hoMEworks education course before closing, and any leftover assistance goes toward the loan (no cash back).
First Generation grant
If you’ve never owned a home and never lived in a home owned by your parents or guardians, the First Generation program adds up to $10,000. This is the biggest single lever for many Dougherty buyers.
FHLB grants
Federal Home Loan Bank grants can add further help — historically up to $40,000 for eligible households, though amounts and timing vary and your lender confirms availability.
How they stack
These programs combine. One real buyer put 3.5% down and stacked the MaineHousing First-Time grant ($5,000) with the First Generation grant ($5,000) — and paid just $2,200 at closing. Down-payment assistance is generally not counted as taxable income (per IRS guidance). To use a MaineHousing loan you’ll work with a lender on their approved list. See which lenders →