Homebuyer Grants Available in Maine

Homebuyer Grants Available in Maine and Fun Things to Do in the Pine Tree State

Purchasing a home in Maine offers much more than beautiful landscapes; it’s a lifestyle filled with outdoor adventures, cozy coastal towns, and a warm, welcoming community. With several homebuyer grants available, becoming a homeowner in Maine is within reach, even if you’re navigating the financial challenges of home buying. Here’s a breakdown of popular homebuyer grants in Maine and some fun things you can explore once you’ve settled in!

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MaineHousing First Home Loan Program
MaineHousing offers a First Home Loan Program, designed to help eligible first-time homebuyers get into their own homes with little to no down payment required. In addition to the loan, this program provides access to lower, fixed interest rates, which can make a big difference in monthly affordability. Plus, MaineHousing provides low-cost mortgage insurance, which helps reduce overall costs for homebuyers who may not have 20% down.
MaineHousing Advantage Down Payment and Closing Cost Assistance
This program works as an add-on to the First Home Loan Program, offering up to $5,000 in down payment and closing cost assistance. This assistance comes in the form of a grant, making it ideal for first-time homebuyers who could use a little extra help getting their initial costs covered. Additionally, Advantage allows homebuyers to combine the assistance with other state or federal programs, giving buyers flexibility in building financial support.
Federal Home Loan Bank of Boston Equity Builder Program (EBP)
Many Maine-based lenders participate in the EBP, which provides up to $22,000 in grants toward down payments and closing costs. It’s designed for low- to moderate-income buyers and offers valuable resources for anyone seeking to reduce upfront costs. Ask your local lenders if they participate, as funding is usually limited and goes quickly each year.
Native American Housing Assistance and Self-Determination Act (NAHASDA)
NAHASDA offers grant support to Native American families and individuals looking to buy homes in Maine. The funds can help with down payment and closing costs, and they also promote building sustainable housing and strong communities. Maine has several federally recognized tribes that can access this support, making it a great opportunity for eligible tribal members to achieve homeownership.

Fun Things to Do in Maine

Living in Maine means you’ll have access to a diverse range of activities, from exploring rugged coastlines to enjoying local festivals. Here are some of the best things to do once you’re a homeowner in this beautiful state:

Explore Acadia National Park
Acadia National Park, one of the most picturesque parks in the country, offers something for everyone. Whether you enjoy hiking, camping, or simply taking in breathtaking coastal views, Acadia delivers. The park is home to Cadillac Mountain, where you can catch the first sunrise in the United States, and the park’s extensive trails cater to all skill levels.
Visit Portland’s Historic Old Port
Portland is a vibrant city with a rich history, and its Old Port district is the heart of it all. Stroll through cobblestone streets, enjoy delicious seafood from waterfront restaurants, and shop at boutique stores featuring local goods. Portland is also known for its craft beer scene, with many breweries offering tastings and tours.
Whale Watching Tours
From May to October, Maine offers fantastic whale-watching opportunities along its coast. Tour companies operate from various locations, including Bar Harbor and Boothbay Harbor, where you can spot humpback whales, fin whales, and minke whales. This is a memorable experience for nature lovers and families alike.
Enjoy Winter Sports in Sugarloaf
If you’re a fan of winter activities, Sugarloaf is Maine’s largest ski resort, featuring skiing, snowboarding, and tubing options. The surrounding area also offers snowshoeing, snowmobiling, and cozy lodges where you can warm up with hot cocoa after a day on the slopes.
Visit the Maine Maritime Museum
Located in Bath, the Maine Maritime Museum celebrates the state’s rich shipbuilding and maritime heritage. The museum offers a fascinating look into Maine’s history, with exhibits, interactive displays, and a tour of the Percy & Small Shipyard—the only surviving shipyard in the country dedicated to wooden shipbuilding.
Savor Maine Lobster
No list would be complete without mentioning Maine’s famous lobster. From traditional lobster rolls to lobster bakes, the state’s signature crustacean is a must-try. Many coastal towns host lobster festivals, where you can enjoy fresh lobster and take in the local atmosphere.
L.L. Bean Flagship Store in Freeport
Known worldwide, L.L. Bean’s flagship store in Freeport is open 24/7 and is a shopping experience like no other. You can shop for quality outdoor gear, take part in outdoor events hosted by the store, or simply take a photo with the iconic boot outside!

Final Thoughts

With the help of Maine’s various homebuyer grants, purchasing a home in this scenic state is accessible for many. And once you’re settled, Maine’s mix of outdoor activities, historic charm, and local culture offers endless enjoyment. Whether you’re exploring Acadia’s natural beauty or enjoying a lobster roll by the coast, Maine is a fantastic place to call home.

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