FHA loans differ from conventional loans in a number of ways. The down payment required for an FHA-insured loan is usually much lower than for conventional loans. FHA loans also have lower credit requirements than conventional loans, making them more available to a wider range of potential homebuyers.
FHA loans offer ME residents several other valuable benefits, not least of which is those aforementioned smaller down payments. Unlike a conventional loan, which ordinarily requires 10-20% down, FHA-insured loans only require down payments as low as 3-5%. The FHA is also more flexible in calculating factors to determine whether or not to approve the loan, factors such as household income and repayment ratios.
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While the number was down, it was still 11,000 more than the Maine Turnpike Authority projected.
Five Maine deputies have been reprimanded for using a Taser on a sheriff's deputy during a bachelor party in Knox County.
The state's subsidized Dirigo Health insurance plan has run up nearly a $20 million deficit since November - a shortage that has just come to light even though funding for the program has been a topic of heated ...
Animal welfare advocates have been given more time to pre-sell vanity license plates that aim to benefit Maine's cash-strapped Animal Welfare Program.
A 50-year-old man charged in the fatal stabbing of a friend in Maine was returned to jail after making his initial court appearance Wednesday.
AUGUSTA : The state has recouped its money from a bad $20 million investment in a mortgage-backed fund, after the broker that sold it to the Treasurer's Office essentially agreed to buy it back last week.
The chief architect of a failed 2003 referendum to allow a casino in southern Maine isn't keen on a ballot measure this November asking voters if they want a casino in the western part of the state.
AUGUSTA : Gov. John Baldacci has begun an experiment that would allow state employees to work flexible schedules - ' including four-day work weeks of 10-hour days and some telecommuting from home - ' to help ...
This quiet mill town on the edge of Maine's northern wilderness has not been the same since it buried Joyce McLain 28 years ago.
Mainers along the state's southern coast will notice it's a little noisier than usual.
Southbound traffic's going to be heavy as holiday weekend tourists head out of Maine.
Maine on Monday joins other states and Canadian provinces that have made it illegal to smoke in a car while children are present.
Prominent Mainers attending the Democratic National Convention on Tuesday played down questions of party unity as delegates waited to see how long it takes for Hillary Rodham Clinton delegates and supporters to ...
Maine Republicans respond to McCain's VP choice Sen. Susan Collins speaks Friday with Ernie and Judy Gelinas of Surry while making a campaign stop on her statewide bus tour at the Blue Hill Fair.
Saying he had learned of Prime Tanning's intent to shut down its Berwick facility, Maine Gov.
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Researchers are recruiting students in Maine and New Hampshire to participate in a study evaluating arsenic's effect on children's intellectual development.
A Brunswick man has been arrested in connection with a racially charged e-mail sent to Gov.
Workers have completed the exhumation of the body of a teenage girl killed 28 years ago as internationally renowned forensic experts Dr.
Representative Tom Allen spoke on Wednesday at the Democratic National Convention in Denver, Colorado.