Get up to $10,000 in down payment and closing cost assistance! Our Equity Builder Program helps bridge the gap for first-time homebuyers who are close to being able to buy a home, but may need a little bit of a financial boost to put their plans into action.
- To be eligible, you must meet income level requirements*
- Recipients must attend homebuyer education/counseling program
- Limited time program - grant funds are distributed on a first-come, first-served basis, provided by the Federal Home Loan Bank of Boston
- Can be used with CU Promise 90 Loan
- Maine Savings will reimburse appraisal costs for loans closed with this program
*Buyers eligible to receive assistance through the Equity Builder Program are individuals and households earning no more than 80 percent of the area median income, based on their future address. To be eligible to receive assistance through the Equity Builder Program, buyers must complete a homebuyer counseling program administered by an agency designated by the Equity Builder Program-approved member financial institution. The program must include pre-and post-purchase counseling. Interest would not accrue on the grant and the proceeds would only be due if the property is sold within the first five years of home ownership. May not be combined with any other type of down payment programs.