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
aboutPAT
Pat Clancy and his wife Mary Jane moved to Kennebunkport in January, 2017 out of their love for the Maine coast and their desire to find community here. An attorney with a more than forty year career leading and building a major regional nonprofit community development and affordable housing firm that began in Boston and today works across the Northeast, Midwest and Midatlantic, Pat was asked last year to serve on the Town’s Housing Committee and contributed to the planning for the Heritage Housing Trust and its work.
“I look forward to continuing to contribute to the important work of sustaining Kennebunkport as a strong year round community and to combining my experience with the strong local leadership involved in the Trust to help to achieve that goal.”