SaluteME & Salute Home Again

What is SaluteME & Salute Home Again?

SaluteME & Salute Home Again is a deferred second loan for homebuyers in Statewide, Maine.

• MaineHousing's military / veteran homebuyer benefit: 0.50% rate reduction on First Home Loan first mortgage + standard $5,000 Advantage DPA second. SaluteME for active military and FTHB veterans. Salute Home Again waives FTHB for repeat-buyer veterans. Surviving spouses eligible. 640 FICO. Statewide.
• MaineHousing's SaluteME and Salute Home Again is a dual-name benefit program for active military, veterans, National Guard, Reservists, and qualifying surviving spouses. SaluteME provides a 0.50% rate REDUCTION (50 basis points off the standard First Home Loan first-mortgage rate) for active-duty military, National Guard, Reservists, and qualifying veterans. Salute Home Again provides the same 0.50% rate discount AND waives the first-time-homebuyer requirement for veterans who have owned a home within the past 3 years (i.e., repeat-homebuyer veterans qualify). The product pairs with the standard $5,000 Advantage DPA second mortgage (0% deferred, due-on-sale / refinance / transfer / non-owner-occupancy - no monthly payment, no forgiveness schedule). Eligible service: active-duty U.S. Armed Forces, National Guard, Reservists, honorably discharged veterans, and surviving spouses of qualifying veterans (per VA definition). Income and acquisition-cost limits follow MaineHousing's standard First Home Loan limits. 640 minimum FICO. Homebuyer education required.
• Funding comes from State and Bond.

Do you have to pay it back?

SaluteME & Salute Home Again is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Advantage $5,000 DPA second is 0% deferred, NO monthly payment. Full $5,000 due on sale, refinance, transfer of title, or non-owner-occupancy. No forgiveness schedule (deferred soft second).
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

SaluteME & Salute Home Again is open to buyers who will live in the home as their primary residence.

What are the income limits?

SaluteME & Salute Home Again limits household income to $149,270.

• 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?

SaluteME & Salute Home Again caps the purchase price at $525,000.

• Eligible property types include Single-family detached, 2-4 unit owner-occupied (per first-mortgage overlays), condominium (project-approved), townhouse, PUD, modular, and manufactured home on permanent foundation (titled as real property and per first-mortgage overlays).
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

SaluteME & Salute Home Again names veterans, active-duty service members, reservists and National Guard members, and surviving spouses 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?

SaluteME & Salute Home Again serves buyers purchasing in Statewide, Maine.

• The program targets specific areas: Federally designated targeted census tracts (per IRS Section 143) where MRB first-time-homebuyer requirement is waived and higher income / acquisition-cost limits apply. Higher-cost counties (Cumberland, York, Sagadahoc) have higher acquisition-cost limits up to $775,000. Salute Home Again itself constitutes a federal-veteran FTHB waiver.

How do you apply?

Applications for SaluteME & Salute Home Again go through the administering agency, 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 MaineHousing-approved hoMEworks homebuyer education class (in-person or online) required prior to closing..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Reserved through MaineHousing's online lender portal (Lender Online) at time of rate lock by approved participating lender. Borrower must declare SaluteME eligibility and provide service documentation at reservation., 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.