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No Down Payment, 100 Percent Maine Home Loans, They Happen.

No Down Payment, 100 Percent Maine Home Loans, They Happen.

No money down, 100 percent Maine home loans.

Where do you sign up right? Sounds too good to be true? Well believe it or not, you can get no money down Maine home loans.

A big down payment to buy the house does not need to be squirreled away first. That delays the process.

The days of only, always saving up 25% of the Maine house price to make a local home loan are long gone.

In a small rural state like Maine.

Where it is not all about a giant paycheck. But the lots more areas of value that attract, keep us here that have to be considered.

Buying a Maine home.

Not as simple as buying a car process. And just sign here for the keys. The stack of paperwork is thicker. More hurdles set up to clear. The need for six to eight weeks for the Maine home loan process comes into play for a reason.


The process of buying a home in Maine takes money behind the scenes to grease the gears.

Fuel the paper shuffling process. To move from Maine home loan application stage, to the borrower qualifying, getting  the house lending green light.One after another.

For the home in Maine for sale being mortgaged to make it to the clear to close stage. Where everyone sits down at the long table at the bank or lawyer’s office conference room. maine white water rafting photo

For the sign here, here and read this.

Take your time, just not all day. Then sign right on that dotted line. Yeah, that one on the bottom. Perfect.

No money down Maine home loans. A sweet house buying ride to reach out. Climb on, grab and hang onto for a home sweet home.

The 100 percent financing home mortgages.

Like the USDA Rural Development program that can be a sweet tool to change, make, turn a renter into a house owner.

But in reality, there is not such thing as a Maine real estate home loan in any program that does not require money to get to that property closing for the sliding of the house keys.

Saving up a month or two of the normal buyer house operating expenses is a start for the purchaser. Shelling out the application fee to pay for the credit check, to order the Maine home appraisal.

The Maine home being bought has to be like the name implies, in a rural, eligible area. maine ocean beach photo

The home buyer needs to have an average median income for the area or less to be eligible.

The Maine bank has eligibility guidelines all hashed out, explained in the fine print.

The credit score of 620 or higher is one more number that gets eyeballed. Worked on.

Monitored so the Maine home buying limbo pole is not too low.

To play the house purchasing game. 100% financing for a Maine home loan happens.

But it often involves the up to 6% seller concessions in USDA Rural Home Loan mortgages.

Someone has to prime the pump to make the wheels on the Maine home loan go round houlton maine photoand round.

To pay the professionals involved in the steps, the review, the underwriting of the Maine home loan.

Someone has to pick up the tab.

The check to pay the players needed to start, complete the mortgage making loan process.

So the Maine home loan buyer, you won’t have to bring much to the table but you will have to bring something.

The amount that you will have to reach deep in the pocket or purse for depends on whether or not the seller agrees to the up to 6% seller concessions. Funneled out of the proceeds on the HUD-1 closing settlement statement. The condition of the home impacts the process too.

The size of the loan on the Maine home also is on considered.  The income guidelines can vary by county just like the housing costs in Maine are up and down depending on which of the sixteen your home lands in. and it will also depend on the size of the loan. videosmooersrealty001

The house in Maine has to meet certain standards. Often it is in the price bracket the home buyer qualifies for because of problems, neglect, a big job jar. Missing railings, front steps, GFI electrical outlets or covers on junction boxes all get noticed, need updates. So does the leaking roof.

So the house appraiser can return to the property hoping for a home loan to happen so it gets new owners moving in. Broken glass, peeling paint, anything not safe has to be corrected. Before closing. Or the Maine home loan process stalls, delays, could die.

That repair can be in the 6% seller concessions, rebate. Or Mom, Dad, the buyer can find the resources to make the problems, deficiencies go away somewhere else.

Maine home loans, lots of options and the best fit, match depends on the buyer, the property and if your seller wants to get involved in the house warming party.

The one called a real estate closing one. Where a sold sign gets screwed on with butterfly wing nuts on top of the Maine real estate silent salesman standing out front of the home.

I’m Maine REALTOR Andrew Mooers, ME Broker

207.532.6573  |  [email protected]  | 

MOOERS REALTY 69 North Street Houlton Maine 04730




Andrew Mooers

Welcome to our Maine real estate website. I am the father of four grown children, have listed, marketed, sold properties for over forty years. Lots of changes in the real estate industry over that many decades and daily we re-invent our job. I grew up on a Maine farm that I bought from by three older brothers. My youngest son continues in the tradition on that same Maine farm. Here to help with property searches for homes, farms, land, waterfront, multi housing rentals, small mom and pop business listings.

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