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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STEPHANIE
Stephanie has lived in Kennebunk since 2002 and raised her daughter through the RSU 21 school system. She moved to Kennebunk for its strong sense of community and remains deeply invested in its long-term health and stability.
Stephanie owns a small business that provides test prep and classroom tools for the Emergency Medical Services education market and previously served as Director of the Kennebunk Free Library. She has served on several nonprofit boards and committees in Kennebunk and spent two years volunteering with individuals experiencing homelessness in Portland through Grace Street Ministry, gaining firsthand insight into the impact of housing instability on individuals and communities.
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“When people can afford to live in the communities where they work and volunteer, everyone benefits. Affordable housing helps retain the people who form the foundation of a healthy, year-round community.”