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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
OR
Vote YES on 8G in Kennebunk on November 3!
The people that show up for us need us to show up for them! Vote YES on 8G to allow people in these vital roles to live in the town they serve.
Housing prices in Kennebunk mean that the people that serve our community as police officers, fire fighters, teachers, public works and town hall employees, and more are not able to afford to live as our neighbors. You have the opportunity to help us build three homes for these workers on Factory Pasture Lane by voting YES on 8G on November 3. All three homes will be offered to people that work for the Town of Kennebunk or RSU 21 as the first pool of applicants. These homes will be deed restricted so that each time they come up for sale they will be offered first to municipal and school employees. Each home will also include our maximum home price deed restrictions to ensure that future generations of public service professionals are able to afford the purchase price.
Learn more about the proposal to the Select Board here:
Initial Factory Pasture Lane proposal
Requested home allocation proposal
Questions? Please email Larissa Crockett at Larissa@nhtmaine.org
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