Mortgage Loan Options

At Primary Residential Mortgage, we offer a wide range of loan options to our local borrowers. We have a full list of 30- and 15-year fixed rate mortgages for those looking to go the traditional route, along with adjustable-rate mortgages (ARMs) for those interested. We also feature programs like manufactured housing loans and 2/1 buy down mortgages.

In addition, we can help line you up with several different government-backed mortgage loan options:

Reverse Mortgage (HECM)

HECM (Home Equity Conversion Mortgage) is a safe plan that can give you greater financial security- it can supplement Social Security, meet unexpected medical expenses, make home improvements, and more.  This loan program is an FHA home loan that lets you convert a portion of your equity into cash.

You don’t need an income to qualify. With a reverse mortgage, your equity pays you because you’ve earned it.

You choose how you want to withdraw your funds. You can select a fixed monthly amount, a line of credit, a lump sum or a combination of all three. There are no monthly principal and interest payments like there is with a second mortgage or a home equity line of credit.


Disclaimer:  This ad is not from HUD or FHA and was not approved by HUD or any government agency. Consumers remain responsible for property taxes, homeowner’s insurance, and home maintenance.


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Maine State Housing

The mission of the Maine State Housing Authority is to assist Maine people to obtain and maintain decent, safe, affordable housing and services suitable to their unique housing needs.

First Home Program 
The First Home Program provides low fixed rate mortgages to people who have not owned homes in the last three years. No point and low point options are available. First Home mortgages also offer payment protection for eligible borrowers who lose their jobs.

Operation New Home 
Operation New Home provides low fixed rate mortgages to veterans and active duty military personnel. No point and low point options are available. People who are already homeowners are eligible, but they must be purchasing a home that will be used as their primary residence.

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VA loans are designed to help active or former military service members get a great loan option after or while they serve our country. They come with no down payment, low closing costs, great mortgage rates and zero private mortgage insurance. 

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Backed by the Federal Housing Administration, these loan programs come with low fixed rates that require very little cash up front to close. They offer less stringent credit requirements, low down payments and the ability to bring in a co-signer.

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These are government-insured loans that come with no down payment and low insurance premiums. They’re meant to help with the acquisition of rural and farming land, primarily.

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These fixed-rate loan programs are one of the most common types of mortgages you can apply for.  These loans offer protection to the buyer from unexpected rate increases which would result in increased monthly mortgage payments.  These fixed-rate mortgages are offered in either 15 or 30 year options.  

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