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The one-story homes will be sold - net of the assistance listed above - for a sale price of $220,000.
A minimum downpayment of 1% will be utilized to pay the upfront cost of mortgage insurance. And closing costs are likely to exceed the MaineHousing assistance by about $1,000. Thus, homebuyers will have to demonstrate to the lender that they have at least $3,100 in available cash for closing. Additional downpayments can be utilized to reduce the mortgage below $220,000 if desired and available.
The one-story homes will be sold - net of the assistance listed above - for a sale price of $220,000.
A minimum downpayment of 1% will be utilized to pay the upfront cost of mortgage insurance. And closing costs are likely to exceed the MaineHousing assistance by about $1,000. Thus, homebuyers will have to demonstrate to the lender that they have at least $3,100 in available cash for closing. Additional downpayments can be utilized to reduce the mortgage below $220,000 if desired and available.
The one-story homes will be sold - net of the assistance listed above - for a sale price of $220,000.
A minimum downpayment of 1% will be utilized to pay the upfront cost of mortgage insurance. And closing costs are likely to exceed the MaineHousing assistance by about $1,000. Thus, homebuyers will have to demonstrate to the lender that they have at least $3,100 in available cash for closing. Additional downpayments can be utilized to reduce the mortgage below $220,000 if desired and available.
Important Information
Important Information
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Kennebunkport Heritage Housing Trust Receives $15,000 Matching Grant from Kennebunk Savings
During the month of April, Kennebunk Savings will match the first $15,000 of donations to Kennebunkport Heritage Housing Trust. The bank’s gift will enable KHHT to turn $15,000 into $30,000 toward the group’s $100,000 April 2021 fundraising goal.
Kennebunk Savings Bank President & CEO Bradford Page and
KHHT President Patrick Briggs at the future site of Heritage Woods
"We are exceptionally excited to be able to support efforts in our own backyard. KHHT provides an outstanding example of how an idea can move to a successful coordinated grassroots volunteer effort, providing real solutions to members of our communities. We congratulate KHHT and its Board for not only bringing the Heritage Woods project to fruition, but providing the promise of a model that can be used for future projects as well.”
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~Bradford C. Page, President and CEO of Kennebunk Savings
The support from Kennebunk Savings will enable the Trust to cover costs in site construction and keep homes affordable for families in the income range of 80–120% of area median income. The first neighborhood— Heritage Woods— is located on Main Street in Kennebunkport, and is ideally located between Cape Porpoise and Consolidated School.
Your gift in any amount will be doubled when you give today!
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