Grants to Reduce Mortgage Rates for Homebuyers
Summary
The Maine Legislature passed LD2077, establishing a grant program to reduce mortgage rates for homebuyers. The bill passed the House on April 2, 2026 (78-66) and the Senate on April 6, 2026 (20-12), receiving approval as amended by Committee Amendment "A" (H-935). The legislation is referred to the Committee on Housing and Economic Development.
What changed
Maine LD2077 creates a new state grant program to provide financial assistance reducing mortgage rates for eligible homebuyers. The bill passed the 132nd Legislature with bipartisan sponsorship and was amended by Committee Amendment "A" (H-935) before final passage. The program aims to address housing affordability by offering grants that lower borrowing costs.
Government agencies administering the program should prepare to implement grant disbursement mechanisms and establish eligibility criteria. Financial institutions and lenders may need to coordinate with the state program to integrate rate-reduction grants into mortgage offerings. Homebuyers in Maine should monitor program availability and application procedures once implementing regulations are issued.
What to do next
- Monitor for implementing regulations from the Maine Housing and Economic Development Committee
- Coordinate with state housing agencies on program eligibility requirements
- Review lender participation requirements if applicable
Source document (simplified)
ChangeBridge / Maine / LD2077 Passed LD2077 LD Passed 2026-04-06
An Act to Reduce the Cost of Purchasing a Home by Providing Grants to Reduce Mortgage Rates
Bill Details
State Maine
Session 132nd Legislature
Chamber House
Official Source legislature.maine.gov/legis/bills/display_...
LegiScan View on LegiScan
Sponsors
Wayne Farrin (Rep - D) Holly Eaton (Rep - D) Ryan Fecteau (Rep - D) Sharon Frost (Rep - I) Cheryl Golek (Rep - D) Parnell Terry (Rep - D) Kilton Webb (Rep - D)
Action History
2026-04-06 S Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED by Committee Amendment "A" (H-935) in concurrence. 2026-04-06 S Committee Amendment "A" (H-935) READ and ADOPTED. 2026-04-06 S READ ONCE. 2026-04-06 S Roll Call Ordered Roll Call Number 868 Yeas 20 - Nays 12 - Excused 3 - Absent 0 2026-04-06 S On motion by Senator CURRY of Waldo the Majority Ought to Pass as Amended Report ACCEPTED. 2026-04-06 S Reports READ. 2026-04-02 H Sent for concurrence. ORDERED SENT FORTHWITH. 2026-04-02 H The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (H-935). 2026-04-02 H Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading. 2026-04-02 H Committee Amendment "A" (H-935) was READ and ADOPTED. 2026-04-02 H The Bill was READ ONCE. 2026-04-02 H ROLL CALL NO. 715 (Yeas 78 - Nays 66 - Absent 6 - Excused 0 - Vacant 1) 2026-04-02 H On motion of Representative GERE of Kennebunkport, the Majority Ought to Pass as Amended Report was ACCEPTED. 2026-04-02 H Reports READ. 2026-03-30 J Reported Out: OTP-AM/ONTP 2026-03-03 J Voted: Divided Report 2026-03-03 J Work Session Reconsidered 2026-01-29 J Voted: Divided Report 2026-01-29 J Work Session Held 2026-01-07 S The Bill was REFERRED to the Committee on HOUSING AND ECONOMIC DEVELOPMENT in concurrence 2026-01-07 H Sent for concurrence. ORDERED SENT FORTHWITH. 2026-01-07 H The Bill was REFERRED to the Committee on HOUSING AND ECONOMIC DEVELOPMENT. 2026-01-07 H Committee on Housing and Economic Development suggested and ordered printed.
Votes
2026-04-02 Acc Maj Otp As Amended Rep RC #715 Yea: 78 Nay: 66 2026-04-06 Accept Majority Ought To Pass As Amended Report RC #868 Yea: 20 Nay: 12
Committee Referrals
2026-01-07 J Housing
Amendments
0000-00-00 House: C-A (H-935) Adopted
Bill Text Versions
0000-00-00 Introduced
Subjects
Housing Assistance Legislative data powered by LegiScan (CC BY 4.0)
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