First Time Homebuyer Grants in Maine

The Maine State Housing Authority offers a first time home buyer’s program called the “Gift of Green.”  The program provides a grant of $5,000, but no more than 4 percent of the loan amount.  Additionally, there is a $500 weatherization coupon available.

This program is for first time homebuyers (or if it has been at least three years since you owned a home).  The$5,500 never has to be paid back.  This grant can be used with the federal tax credit of $8,000, and the home energy improvements you make using the weatherization coupon may be used toward more federal tax credits, up to $1,500.  That’s $15,000 TOTAL!

To be eligible the homebuyer must pay at least 1 percent of the loan with his or her own resources.  There are a limited number of Gift of Green loans grants available so apply ASAP.

Go directly to the website for more information

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Tags: Maine, mortgage

This entry was posted on Monday, July 20th, 2009 at 6:43 pm and is filed under Grants. If you are looking for similar grants in this state, click the category name here. That will give you a list of grant announcements in that category in the state.