MaineHousing Multi-Unit Advantage Program
This program helps with closing costs and down payments for properties with one to four units. The help ranges from $8,000 to $14,000.
The eligibility requirements, income restrictions, and purchase price caps are the same as for the First Home program.
Homebuyers must complete both a landlord education course and a home buyer education course.
Buyers are required to contribute at least 1% of the loan amount towards the purchase.
In both plans, help comes in the form of a grant, and the borrower can use gift money to help pay for a portion of the home. But the details of each program are different, so people who want to buy should look carefully at both to see which one meets their needs best.
Discover more at MSNA’s website. And check HUD’s list1 of other homeownership assistance programs in Maine.