Multi-Unit Advantage Down Payment & Closing Cost Assistance

What is Multi-Unit Advantage Down Payment & Closing Cost Assistance?

Multi-Unit Advantage Down Payment & Closing Cost Assistance is a grant for homebuyers in Maine, administered by Maine State Housing Authority (MaineHousing).

• Multi-Unit Advantage provides enhanced down payment and closing cost assistance for buyers purchasing owner-occupied two-to-four unit properties with a MaineHousing First Home or Salute ME loan. Assistance is $8,000 for two units, $11,000 for three units, and $14,000 for four units, with no second mortgage, no lien, and no interest rate add-on. Borrowers must complete both a hoMEworks homebuyer education class and an approved landlord education course and contribute a minimum 1% of the loan amount (which may be a gift).
• Up to $14,000 grant (4-unit) toward down payment and closing costs.
• $8,000 (2-unit) / $11,000 (3-unit) / $14,000 (4-unit).
• No second mortgage or lien.
• No interest rate add-on.
• No liquid asset test.
• 1% borrower contribution may be a gift.
• Funding comes from MaineHousing.

How much assistance does it provide?

Multi-Unit Advantage Down Payment & Closing Cost Assistance offers between $8,000 and $14,000 in assistance.

• Award tiers: Two-unit property: $8,000; Three-unit property: $11,000; Four-unit property: $14,000 ($5,000 per residential unit equivalent structure).
• Buyer contribution: Minimum borrower cash contribution of 1% of the loan amount (may be a gift), as accepted by the mortgage insurer.
• The program can be combined with First Home Loan, Salute ME, Purchase Plus Improvement, Uninsured.
• Amounts are the program's published maximums, not an offer — Maine State Housing Authority (MaineHousing) determines any individual award.

Do you have to pay it back?

Multi-Unit Advantage Down Payment & Closing Cost Assistance is structured as a grant, so it is not repaid.

• Repayment is triggered by No repayment - no second mortgage and no lien; does not increase the loan amount.
• The assistance is recorded in none position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Multi-Unit Advantage Down Payment & Closing Cost Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Multi-Unit Advantage Down Payment & Closing Cost Assistance limits household income to $120,750.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Multi-Unit Advantage Down Payment & Closing Cost Assistance caps the purchase price at $775,000.

• Eligible property types include 2-4_unit_owner_occupied.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Multi-Unit Advantage Down Payment & Closing Cost Assistance names veterans and active-duty service members among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Multi-Unit Advantage Down Payment & Closing Cost Assistance serves buyers purchasing anywhere in Maine.

• The program targets specific areas: Income limits may be higher in Federal Targeted Areas (per First Home).

How do you apply?

Applications for Multi-Unit Advantage Down Payment & Closing Cost Assistance go through Maine State Housing Authority (MaineHousing), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through hoMEworks-approved homebuyer education class AND an approved landlord education course (mainehousing.org landlord education classes)..

2. 2

   Contact Maine State Housing Authority (MaineHousing) to reserve funds

   Funds are reserved through Reserved with the underlying First Home or Salute ME loan through the lender., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.