First Generation Program

First Generation Program est un prêt annulable pour les futurs propriétaires de Statewide, Maine. MaineHousing's First Generation Program: up to $10,000 forgivable second-mortgage DPA for first-generation homebuyers (parents/grandparents have not owned in past 7 years, or borrower aged out of foster care). Pairs with First Home Loan first mortgage and standard $5,000 Advantage DPA for combined up-to-$15,000 assistance. 5-year forgiveness. 640 FICO. Statewide. MaineHousing's First Generation Program provides up to $10,000 in additional down-payment / closing-cost assistance on top of MaineHousing's standard $5,000 Advantage DPA second mortgage - for combined assistance of up to $15,000. The program is designed to address the inter-generational wealth gap by helping first-generation homebuyers (those whose parents or grandparents have not owned a home in the past 7 years, or borrowers who aged out of foster care) achieve homeownership. The $10,000 First Generation assistance is structured as a 0% interest forgivable second mortgage, forgiven on a pro-rata basis over 5 years of continued owner-occupancy. The program pairs with MaineHousing's First Home Loan first mortgage (30-year fixed FHA, VA, USDA-RD, or HFA conventional) and the standard Advantage DPA option. Borrower must contribute at least $1,000 of own funds. Income and acquisition-cost limits follow MaineHousing's standard First Home Loan limits (statewide income up to $98,900 1-2 person / $113,735 3+ person. targeted/higher-cost county income up to $111,100 1-2 / $149,270 3+. purchase price $525,000 non-targeted to $775,000 targeted). 640 minimum FICO. Homebuyer education (hoMEworks) required. Le financement provient de State et Bond.

First Generation Program est annulé après 5 ans : un futur propriétaire qui reste aussi longtemps n’a rien à rembourser. Le remboursement est déclenché par Forgiven pro-rata over 5 years of continued owner-occupancy (1/5 per year). Unforgiven balance due on sale, refinance with cash-out, transfer of title, or non-owner-occupancy before 5 years. No monthly payment. L’aide est inscrite au rang suivant : 3rd Lien. Les conditions d’annulation et de remboursement sont fixées par le programme et peuvent changer — vérifiez-les sur la page officielle du programme avant de déposer une demande.

First Generation Program est ouvert à les primo-accédants et les futurs propriétaires qui occuperont le logement comme résidence principale. « Primo-accédant » comporte ici des exceptions : First-time homebuyer requirement waived in federally designated targeted census tracts and for qualifying veterans (via SaluteME / Salute Home Again). First-generation requirement (no ownership by parents/grandparents in past 7 years) is the program-defining criterion. Au sujet du crédit, le programme précise : 640 minimum FICO across all eligible first-mortgage products. Un cours pour futurs propriétaires est obligatoire, auprès de MaineHousing-approved hoMEworks homebuyer education class (in-person or online) required prior to closing. Condition de résidence : Property must be located in Maine and be the borrower's primary residence. Statewide eligibility. Citoyenneté ou statut d’immigration : U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays. FIRST-GENERATION HOMEBUYER REQUIREMENT: Borrower (and any co-borrower) must qualify as a first-generation homebuyer, defined as: (a) borrower's parents and grandparents have not owned a home within the past 7 years, OR (b) borrower aged out of foster care. At least one borrower must meet the first-generation definition. First-time homebuyer required (no ownership of a primary residence in the past 3 years; waived in federally targeted areas). Owner-occupied primary residence. 640 minimum FICO. Maximum 45% DTI. Borrower must contribute a minimum of $1,000 of own funds. Income at or below MaineHousing First Home Loan limits ($98,900 1-2 person / $113,735 3+ person non-targeted; $111,100 1-2 / $149,270 3+ targeted). Maximum purchase price $525,000 non-targeted / $775,000 targeted/higher-cost county. hoMEworks homebuyer education required. Pairs with First Home Loan first mortgage + Advantage DPA second.

First Generation Program plafonne le revenu du ménage à $149,270. Le plafond s’applique au revenu total du ménage, pas seulement à celui de l’emprunteur. Les chiffres du revenu médian de la zone sont publiés par HUD et mis à jour chaque année : consultez le tableau en vigueur pour le comté avant de vous fier à un chiffre.

First Generation Program plafonne le prix d’achat à $525,000. Les types de logements admissibles comprennent 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 et per first-mortgage overlays). Les constructions neuves sont admissibles. Les maisons préfabriquées sont admissibles.

First Generation Program cite les futurs propriétaires de première génération parmi les groupes qu’il sert. Être cité ici signifie que le programme mentionne ce groupe, et non que l’appartenance à ce groupe suffit à rendre un demandeur admissible — les autres règles d’admissibilité s’appliquent toujours.

First Generation Program s’adresse aux futurs propriétaires qui achètent à Statewide, Maine. Le programme cible des zones précises : 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) also have higher acquisition-cost limits up to $775,000.

Les demandes pour First Generation Program passent par l’organisme gestionnaire, qui publie les conditions en vigueur et les étapes de la demande sur son propre site. Les fonds sont réservés par l’intermédiaire de Reserved through MaineHousing's online lender portal (Lender Online) at time of rate lock by approved participating lender. Hey Prescott n’est pas un prêteur et n’accepte pas de demandes ; cette page décrit le programme pour qu’un futur propriétaire puisse en parler à un prêteur ou à un conseiller en logement.