First Generation Program

MaineHousing’s First Generation Pilot Program (First Gen) is a mortgage program for borrowers who have never lived in a home owned by their biological parents or legal guardians.  The program is also available to borrowers who have been in foster care at some point in their childhood. This program makes it easier and more affordable to buy a home of your own by providing a low fixed interest rate mortgage, down payment and closing costs assistance, and education classes that offer valuable information to help you become a successful long-term homeowner. 

You must apply for a MaineHousing loan at one of our approved lenders

MaineHousing mortgage options include: 

  • Education Classes - First Gen Applicants must take a MaineHousing approved  Financial Literacy class and a hoMEworks or MaineHousing approved Homebuyer Education Class prior to closing. 

  • Down payment and closing cost assistance - Once a First Generation borrower has completed a Financial Literacy class and hoMEworks or MaineHousing approved Homebuyer education class, the First Gen option provides $10,000 toward the cash you need for closing. First Gen Applicants must make a minimum borrower contribution of 1% of the loan amount. The cost of the homebuyer education class counts toward the 1% contribution.  

  • Low fixed interest rates - MaineHousing’s low-interest rates can save the average homebuyer thousands of dollars over the full term of the loan. For the First Gen program, MaineHousing offers a zero-point mortgage option with a 1.00% discount on our already low First Home Loan interest rate. Current Rate Sheet

  • Financing for mobile homes - MaineHousing offers mortgages for single- and double-wide mobile homes located on owned or leased land. With this program option, there is a purchase price limit statewide of $250,000 for mobile homes on owned land, and $200,000 on leased land. Interest rates are a little higher, and the term of the loan is based on the age of the mobile home.


Am I eligible?
  • Are you a true first-time homebuyer?  If you have not held an ownership interest in your principal home anytime during your lifetime, you qualify as a true first-time homebuyer for First Gen.  At least one borrower must have either never lived in a home owned by their biological parents or legal guardians during the borrower's lifetime or at least one borrower is an individual who was in foster care at some point during their childhood.  

  • Although household income limits  apply, most Maine households are income-eligible for the program. Limits vary depending on how many people live in your household and where in Maine you plan to buy your home. 

  • You must have an acceptable credit history with a minimum credit score of 640.

  • Can you afford a home? Generally, you should plan to use no more than 30 - 33 percent (30 -33 %) of your income for a monthly mortgage payment. A MaineHousing-approved First Home Lender can help you determine how much home you can afford and identify any credit issues you may need to work on before buying.

What kind of home can I buy?

  • New and existing single family homes.
  • Owner-occupied, 2- to 4-unit apartment buildings.
  • Condominiums.
  • Permanently attached mobile homes built within the last 20 years.
    (Mobile home may be located on owned or leased land.)

While home purchase price limits apply and vary by location and property type, most Maine homes are price eligible.  

IconGreen_HOPEFirst Generation Program mortgages also come with payment protection for unemployment. If you are a MaineHousing borrower in good standing and become unemployed, Maine HOPE – HomeOwnership Protection for unEmployment– may be able to help by advancing up to four of your mortgage payments, including taxes and homeowners insurance. The amount paid becomes a junior mortgage lien, with no interest and no monthly payments, that is repaid when you sell or pay off your MaineHousing mortgage or stop using the home as your primary residence. It’s a little added protection for you and the investment you’ve made in your home.

MaineHousing offers First Generation Program mortgages through a statewide network of banks, credit unions and mortgage companies.  A MaineHousing First Home Lender will help determine what you can afford to pay, what mortgage options are right for you, and help guide you from loan application through closing. 

Apply for the MaineHousing First Generation Program at one of our more than 40 First Home Lenders

For more information see related information at the top right of the page, download our First Generation Program Summary Sheet, or contact the MaineHousing Homeownership Department: 

Email Me

(207) 626-4663

MaineHousing Logo Icon

©2022 MaineHousing. All Rights Reserved.
MaineHousing does not support or endorse external links.
equal housing opportunity logo icon  EQUAL HOUSING OPPORTUNITY

26 Edison Drive, Augusta Maine 04330
(800) 452-4668 | (207) 626-4600
Fax: (207) 626-4678 | Maine Relay 711