Training Opportunities for Lenders

MaineHousing offers a 2 hour training for participating lenders who offer MaineHousing mortgages. The class covers core guidelines for MaineHousing's First Home Program and is designed primarily for Loan Officers/Originators. Key elements covered during the training class include:

  • Definition of a first-time homebuyer and income eligibility guidelines.
  • Eligible property types and purchase price limits.
  • Down payment and closing cost assistance.
  • Government MI options (RD, FHA, VA) when combined with MaineHousing programs.
  • MaineHousing's self-insurance option for Mobile Homes, (MHSI).
  • The Purchase Plus Improvement option (PPI), allowing the borrower to finance both the home purchase and necessary repairs in one transaction.
  • Payment protection for borrowers who become unemployed, (Maine HOPE).
  • Explaining recapture, and why it is rarely a concern for borrowers.

To arrange a training at a location of your choice, contact your assigned MaineHousing loan officer or contact MaineHousing's Partner Outreach Officer, Lisa McKenna at 207-626-4641 or [email protected].

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