See programs you qualify for

By Tyler Thompson · Licensed Real Estate Agent · Updated April 5, 2026

Homebuyer Programs in Portland, ME (2026)

Population: 69,568 | Median home price: $545,000 | Est. closing costs: $11,000 - $16,500

Portland is Maine's largest city and cultural hub, located on Casco Bay in Cumberland County. With a median home price around $545,000, buying a home here is a significant investment, but several assistance programs can help. MaineHousing's Advantage program offers a $5,000 grant for down payment and closing costs, while the First Generation Program provides a $10,000 grant plus a reduced interest rate for buyers whose parents never owned a home. Veterans can access the Salute ME program for a 0.50% rate discount. Locally, Habitat for Humanity of Greater Portland builds affordable homes for families earning 35-80% of area median income, and the Portland Housing Authority offers a Voucher Homeownership Program for eligible voucher holders. By combining state and local programs with federal options like FHA and VA loans, Portland buyers can stack meaningful assistance toward homeownership.

City Programs in Portland

Program Name	Type	Amount	First-Time Only	Details
Portland Housing Authority Voucher Homeownership Program	Grant	Housing Choice Voucher covers a portion of monthly mortgage payments for up to 15 years	No	View →

Portland Housing Authority Voucher Homeownership Program

Type:: Grant
Amount:: Housing Choice Voucher covers a portion of monthly mortgage payments for up to 15 years
First-time only:: No

State Programs in Maine

Program Name	Type	Amount	First-Time Only	Details
MaineHousing Advantage	Grant	$5,000	Yes	View →
MaineHousing First Generation Program	Grant	$10,000 grant plus 1% below-market interest rate	Yes	View →
MaineHousing First Home Loan Program	Deferred Loan	Low fixed-rate 30-year mortgage with little or no down payment	Yes	View →
MaineHousing Salute ME	Deferred Loan	0.50% interest rate discount on MaineHousing First Home Loan rate	No	View →

MaineHousing Advantage

Type:: Grant
Amount:: $5,000
First-time only:: Yes

MaineHousing First Generation Program

Type:: Grant
Amount:: $10,000 grant plus 1% below-market interest rate
First-time only:: Yes

MaineHousing First Home Loan Program

Type:: Deferred Loan
Amount:: Low fixed-rate 30-year mortgage with little or no down payment
First-time only:: Yes

MaineHousing Salute ME

Type:: Deferred Loan
Amount:: 0.50% interest rate discount on MaineHousing First Home Loan rate
First-time only:: No

Federal Programs

Program Name	Type	Amount	First-Time Only	Details
FHA Loans	Government-Insured Mortgage	Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)	No	View →
Good Neighbor Next Door (HUD)	Government Property Sale Program	50% discount off the list price of HUD-owned homes	Yes	View →
Home Possible Mortgage (Freddie Mac)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HomeReady Mortgage (Fannie Mae)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HUD $100 Down Program	FHA-Financed HUD REO Purchase	Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.	No	View →
USDA Rural Development Loans	Government-Guaranteed Mortgage	100% financing (no down payment required); loan amount up to appraised value	No	View →
VA Loans	Government-Guaranteed Mortgage	No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)	No	View →

FHA Loans

Type:: Government-Insured Mortgage
Amount:: Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
First-time only:: No

Good Neighbor Next Door (HUD)

Type:: Government Property Sale Program
Amount:: 50% discount off the list price of HUD-owned homes
First-time only:: Yes

Home Possible Mortgage (Freddie Mac)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HomeReady Mortgage (Fannie Mae)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HUD $100 Down Program

Type:: FHA-Financed HUD REO Purchase
Amount:: Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
First-time only:: No

USDA Rural Development Loans

Type:: Government-Guaranteed Mortgage
Amount:: 100% financing (no down payment required); loan amount up to appraised value
First-time only:: No

VA Loans

Type:: Government-Guaranteed Mortgage
Amount:: No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
First-time only:: No

Nonprofit Programs

Program Name	Type	Amount	First-Time Only	Details
Habitat for Humanity of Greater Portland Homeownership Program	Deferred Loan	Affordable mortgage to purchase a Habitat-built home	Yes	View →

Habitat for Humanity of Greater Portland Homeownership Program

Type:: Deferred Loan
Amount:: Affordable mortgage to purchase a Habitat-built home
First-time only:: Yes

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13 programs available in Portland. See which ones you qualify for.

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How to Apply

Step 1: Check your eligibility. MaineHousing income limits for Cumberland County vary by household size but most Maine households qualify. Verify your income eligibility with a MaineHousing-approved lender.

Step 2: Complete homebuyer education. Take a hoMEworks-approved homebuyer education class through the Avesta Housing NeighborWorks HomeOwnership Center at 307 Cumberland Avenue, Portland. Classes are $30 per person and satisfy the requirement for MaineHousing programs. Call (207) 553-7777 for schedule information.

Step 3: Contact a MaineHousing-approved lender. Maine has over 40 approved lenders who can help you apply for the First Home Loan Program with the $5,000 Advantage grant or the $10,000 First Generation grant.

Step 4: Explore local programs. Contact the Portland Housing Authority at (207) 773-4753 about the Voucher Homeownership Program, or reach Habitat for Humanity of Greater Portland at (207) 772-2151 to learn about their affordable homeownership opportunities.

Step 5: Get pre-approved for a mortgage. Work with your lender to determine how much home you can afford and which MaineHousing program best fits your situation.

Step 6: Find a home within program limits. MaineHousing purchase price limits vary by county. Your lender can confirm the current limits for Cumberland County.

Step 7: Submit your application and close. Your lender will process the MaineHousing loan and any grant assistance. The $5,000 Advantage grant or $10,000 First Generation grant is credited at closing.

Frequently Asked Questions

How much down payment assistance can I get in Portland, ME?+

Portland homebuyers can access several layers of assistance. MaineHousing's Advantage program provides a $5,000 grant for down payment and closing costs. If you qualify for the First Generation Program (parents never owned a home or you were in foster care), you can receive a $10,000 grant plus a reduced interest rate. Veterans get a 0.50% rate discount through Salute ME and can also combine it with the $5,000 Advantage grant. Federal programs like FHA loans require as little as 3.5% down, and VA and USDA loans offer zero-down options.

Do I have to be a first-time homebuyer to qualify?+

Most MaineHousing programs require you to be a first-time homebuyer, defined as someone who has not had an ownership interest in a home during the past 3 years. However, the Salute ME program waives this requirement for veterans through the Salute Home Again option. Federal programs like FHA loans do not require first-time buyer status.

What is the maximum home price in Portland?+

MaineHousing sets purchase price limits that vary by county. For Cumberland County, you should check the current limits with a MaineHousing-approved lender or visit the MaineHousing homebuyer limits page, as these are updated periodically. FHA loan limits for Cumberland County are set annually by HUD.

What homebuyer education is required?+

MaineHousing programs require a hoMEworks-approved homebuyer education class. In Portland, the Avesta Housing NeighborWorks HomeOwnership Center at 307 Cumberland Avenue offers HUD-certified classes for $30 per person. The First Generation Program additionally requires a Financial Literacy class before the homebuyer education class. The cost of education classes counts toward the 1% minimum borrower contribution for Advantage.

Are there programs specifically for veterans in Portland?+

Yes. MaineHousing's Salute ME program offers a 0.50% discount on the already-low First Home Loan interest rate for active duty military, veterans, and retired military personnel. The first-time homebuyer requirement is waived through Salute Home Again. Veterans can also combine Salute ME with the $5,000 Advantage grant. Additionally, VA loans offer zero-down-payment mortgages with no private mortgage insurance requirement.

What is the First Generation Program?+

The MaineHousing First Generation Program helps buyers whose biological parents or legal guardians never owned a home, or who were in foster care. It provides a $10,000 grant for down payment and closing costs plus a mortgage interest rate reduced by 1% from the standard First Home Loan rate. You must complete both a Financial Literacy class and a homebuyer education class, and contribute at least 1% of the loan amount. A minimum credit score of 640 is required.

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