Lewiston’s housing inventory stands at just 1.9 months—its lowest since 2005—pushing median sale prices up 7.4 % year-over-year to $225,000. Unlike Portland’s condo glut, Lewiston’s stock is 78 % single-family Victorians, Cape Cods, and converted triple-deckers built between 1880 and 1930. The sweet spot for first-time buyers is the Sabattus Street corridor, where three-bedrooms trade between $180k–$210k and commute times to Portland remain under 45 minutes.

Investors from Boston have started bidding 10 % over ask, but local lenders like NMHL can still win by waiving financing contingencies and closing in 21 days—something pre-approved conventional borrowers accomplish routinely. If you’re targeting a multi-family for house-hacking, note that Lewiston enforces a rental registration ordinance; we underwrite 75 % of projected rents using a local appraiser who knows the neighborhood per-unit averages.

Maine’s flagship First Home Program offers a below-market rate—currently 5.625 % vs. 6.875 % conventional—and a $5,000 forgivable grant if your household income is under $79,900 for a 1-2 person household. Because Lewiston’s AMI is lower than Portland’s, a couple earning $75,000 still qualifies, something impossible 40 miles south.

• MSHA Advantage – 0 % second mortgage for down-payment and closing costs up to $15,000; no monthly payment, forgiven after five years.
• FHA 203(k) Limited – Finance up to $35,000 in renovations into your purchase; popular for updating kitchens in Tree Streets duplexes.
• USDA Rural – Zero down for properties on the outer edge of Lewiston (04240 zip west of Randall Road); NMHL closes these in 30 days.

NMHL overlays are flexible: we allow gift funds from non-family members—huge in Lewiston’s tight-knit Franco-American community—and we count boarder income if you supply 12 months of canceled rent checks.

Androscoggin County has 11,800 veterans, many stationed at the former Naval Air Station Brunswick and now working at the Togus VA. Lewiston’s VA loan limit is $648,250—effectively unlimited for 0 % down—so a qualifying veteran can buy a $400,000 colonial on Highland Avenue with no money down and no PMI. NMHL’s in-house VA team averages 24 days from contract to close, beating the national average by 11 days.

We also waive the 1 % funding fee for veterans rated 10 % disabled or higher, saving roughly $3,800 on that same purchase. Surviving spouses can use VA loans; last month we helped a Gold Star spouse buy a renovated duplex on Bartlett Street—her first home—using only her DIC income and a 620 score.

From food trucks at the Brewfest to subcontractors rehabbing mills, Lewiston’s self-employed workforce often shows minimal taxable income. NMHL’s 12- or 24-month bank-statement program counts gross deposits—after a 30 % expense factor—so you can qualify for up to $650,000 with only 10 % down. Rates run about 1 % above conventional, but you skip PMI and can close in an LLC for liability protection.

We recently closed a $310,000 purchase on outer Main Street for a couple who runs an Etsy woodworking shop; their Schedule C showed $41,000, but bank statements averaged $18,500 monthly. By adding back depreciation and using 24 months of statements, we calculated qualifying income of $126,000 and locked a 7.125 % rate—far better than the 9 % hard-money quotes they received elsewhere.

Lewiston assessments average 92 % of market value, meaning a $225,000 sale often assesses around $207,000. You can appeal within 185 days of purchase; NMHL supplies a list of five local appraisers who specialize in tax-abatement reports, typically costing $350 and saving $400–$600 annually. If you buy in April, file the appeal by September to see savings on the next July bill.

Homestead exemption knocks $25,000 off assessed value, saving $437/year automatically—apply at City Hall with your deed and driver’s license. Veterans receive an additional $6,000 exemption, and seniors 65+ can access the Property Tax Stabilization Program, freezing the rate for 10 years if income is under $77,600.

Whether you’re renting above Lisbon Street for $1,400 and ready to own, or relocating from Boston to telework, NMHL’s Lewiston branch offers same-day pre-approvals, local rate shopping, and grant specialists who know every Maine program. Upload your last two pay stubs, bank statements, and photo ID through our secure portal by 10 a.m. and we’ll have your letter by 3 p.m.—fast enough to compete with cash.

Schedule a 15-minute call, meet us at the office on Main Street across from the Public Theatre, or hop on Zoom after your shift at the mill. We’ll run credit, discuss the neighborhoods you love, and send you listings that fit your budget before they hit Zillow. In a market where homes last two weekends, having NMHL on your side turns a dream of owning a piece of Lewiston’s rebirth into keys in your hand.