First Time Home Buyer Program

Family standing in front of window with U-Haul moving boxes in front of them

If you’re a first-time home buyer, Mascoma Bank can help you even more than you realized. You already know that our mortgage lenders understand the local housing markets and have the wisdom to help you navigate the home buying process, but you may not know that as a first-time home buyer you are eligible for special discounts that will help convert your dreams to reality. As part of this loan:

  • We’ll pay $4,000 towards your closing costs
  • Only a 3% downpayment is required
  • Choose between fixed and adjustable rate options.

Our mortgage lenders are ready to help you and answer any questions you may have. Click the button below to meet our lenders or apply for a mortgage if you are ready.

Want to learn more about home purchasing? Read our four part series with advice from our lenders.

Meet Our Mortgage Lenders

Our First Time Home Buyer Program

  • First time homebuyers only
  • Must be for the purchase of your primary residence (1-2 units)
  • Only a 3% downpayment required 
  • We'll pay $4,000 towards your closing costs (Cannot be combined with any other discounts.)
  • Homeownership counseling class required
  • No limitation on income

Disclosures: A loan amount of $200,000 with 20% down, with an interest rate of 4% (Annual Percentage Rate of 4.022) will result in a monthly principal and interest payment of $4.77 per thousand. Rate subject to change without notice. Other fees may apply for a down payment lower than 20%. Subject to credit acceptance and property approval. Homeowner’s insurance and flood insurance (if applicable) required. Payments do not include Real Estate Taxes and Insurance. Maximum loan is $500,000