Did You Know? You May Already Qualify for a Mortgage!
You might be closer to homeownership than you think.
If you’re renting in Maine—whether in Kennebec, Somerset, Franklin, or Waldo County—you could already be paying enough each month to cover a mortgage payment. Many renters don’t realize they’re financially closer to buying a home than they think.
Let’s break down a few common misconceptions and give you the tools to move from renter to homeowner.
- Renting vs. Owning: What Are You Really Paying For?
Renting might feel like the easier option, but in many cases, your rent payment could be going toward building equity in your own home instead of covering someone else’s mortgage. If you’re already paying $1,200 or more per month in rent, chances are you could afford a mortgage in that same range—with the added bonus of long-term financial growth.
- First-Time Buyer? Good News—You Have Options
Maine offers several First-Time Homebuyer Programs that can reduce your upfront costs and make owning a home more achievable. At New Dimensions FCU, we work with local programs that provide:
✔ Low down payment requirements
✔ Grants and closing cost assistance
✔ Educational support so you feel confident during the process
You don’t have to do this alone—we’ll guide you step by step.
- You Don’t Need a Perfect Credit Score
A lot of first-time buyers wait to even talk to a lender because they assume their credit isn’t “good enough.” But the truth is, we look at your full financial picture—not just your credit score. And if your score could use some work, we’ll help you build it up with manageable steps.
Our team can even review your credit report and offer guidance on improving it so you’re ready when the right opportunity comes along.
- Preparing Now = Big Wins Later
Whether you’re dreaming of a starter home, a fixer-upper, or something with a little land, preparing now puts you ahead of the game.
Here’s how to get started:
- Track your current expenses and figure out how much you can afford
- Start setting aside savings for a down payment—even a few hundred dollars a month adds up
- Schedule a free home loan consultation with one of our lending specialists
- We’re Not Just Lenders—We’re Neighbors
At New Dimensions FCU, we’re not some out-of-state mortgage company. We live and work in your community, and we want to see you succeed.
Whether you’re buying in Waterville, Skowhegan, Farmington, Belfast—or anywhere in between—we understand the local housing market and the unique needs of our members.
Ready to See if You Qualify?
You don’t have to wait until “someday.”
Let’s sit down and talk through your goals, your questions, and your options.
Schedule a free, no-pressure mortgage consultation today by calling (800) 326-6190 or visiting our Waterville or Skowhegan branches.