Home Buying in Richmond>Question Details

ndecker, Home Buyer in Brunswick, ME

Are there programs/loans out there for first time homebuyers?

Asked by ndecker, Brunswick, ME Mon Jan 20, 2014

My husband and I just expanded out family and are looking to buy our first property somewhere in the Richmond, Topsham, Bath, Brunswick, Wiscassett area. We don't have a savings for a down payment. Are there loans/programs available for people like us? Thanks for any helpful info!

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Ask a local mortgage lender about a USDA rural development loan. They offer zero down payment loans if you meet certain guidelines. Here is a link with more information:.

http://www.rurdev.usda.gov/HSF-About_Guaranteed_Loans.html

In addition, some local banks offer their own first time homebuyer programs. Inquire with your local banks.
0 votes Thank Flag Link Mon Jan 20, 2014
Maine has many programs available for first-time homebuyers. Different lenders will participate in some or all of the programs. People's United Bank currently participates in Maine State Housing, Rural Development, FHA and many other programs that make buying a home very affordable. I would be happy to discuss the various options with you. Feel free to call my direct line at (207) 894-5822. Good luck!
0 votes Thank Flag Link Mon Jan 20, 2014
There are! Maine State Housing and Rural Development loans both offer 100% financing to qualified buyers. Each program has its own set of criteria. Call my cell 449-9696 and I'll be happy to put you in touch with lenders who can help you determine if this type of financing is right for you. I am a broker in Bath and I can help you find a home in any of the towns you mentioned.
0 votes Thank Flag Link Mon Jan 20, 2014
Talk to some friends and get a good recommendation for a mortgage lender in your area. That will be the best source of information for you and often they will have programs for your local area.
0 votes Thank Flag Link Mon Jan 20, 2014
0 votes Thank Flag Link Mon Jan 20, 2014
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