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
aboutLArISSA
Larissa discovered a love of municipal government and community building as a homeschooling mother of three that served on various boards and committees in Acton, ME. After earning a master’s in policy, planning, and management from the Muskie School of Public Service, Larissa served as the Assistant Town Manager in Scarborough, Maine before serving as the Town Manager of Wells, Maine. She is excited to be the first executive director to the Housing Trust and looks forward to supporting the Board in the quest to help Kennebunkport remain a thriving, year-round community that is accessible to everyone from young families to retirees who wish to make this wonderful town their home.
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“Affordable housing is about more than creating safe, stable spaces for people to live; it’s also about creating flourishing communities. NHT’s past success shows that this work is possible even in small, coastal towns where market rate housing prices are outside the reach of most people. Together, we can ensure the future of our communities as a place for people from young families to retirees to live, work, and thrive.”