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
aboutTOM
After retiring, Tom moved to Kennebunk in 2009 and to Kennebunkport in 2012. Tom lived most of his adult life in Manchester-by-the Sea, MA where he saw first hand the
struggle to build affordable housing in a small suburban town where families have lived for years, but where the younger generation cannot afford to live. Tom's career
was in human resources as a training director, and consultant to a variety of high tech and financial services companies. Tom's community service includes serving on a local school board and stewardship committee for the Kennebunk Land Trust. He presently is on the town’s solid waste and recycling committee.
"Maine has a wonderful quality of life, however, Southern Maine is growing rapidly pushing up home prices. As a member of KHHT I want to work to maintain Kennebunkport’s small town, seacoast feel that includes affordable housing for families to live and work."