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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
History + Timeline of Heritage Woods
September, 2022 - With construction complete and all six homes sold, the final step to completion is landscaping. We are grateful to George Burr and Son and Billy Goat Landscaping for fitting our project into their busy summer schedules!
April, 2021 - Construction of Heritage Homes will commence at KBS facility in South Paris. Homes will be shipped on site beginning in May, 2021 and will be completed between July and November, 2021.
January 1, 2021- January 22, 2021- Applications accepted for home ownership of Heritage Woods; reviewed on rolling basis
Heritage Woods- Subdivision Approval- Finding of Fact Letter and Recorded Subdivision Plan
October 21, 2020- Town of Kennebunkport Planning Board- Final Subdivision Review (continued public Hearing)
October 7, 2020- Town of Kennebunkport Planning Board- Final Subdivision Review
September 16, 2020- Town of Kennebunkport Planning Board- Subdivision Initial Review
September 10, 2020- Independent Appraisal received from Maine Land Consultants
Kennebunkport Heritage Housing Trust Final Subdivision Application Materials (this links to the Town of Kennebunkport web page where all submitted materials are located)
Kennebunkport Housing Trust Preliminary Subdivision Application Materials (this links to the Town of Kennebunkport web page where all submitted materials are located)
March 28, 2019- The trust receives a donation of (tax-acquired) land from the Kennebunkport Board of Selectmen.
Fall 2018- The Board of Selectmen approved the formation of the Kennebunkport Heritage Housing Trust, appointing to the Board of Directors, Patrick Briggs, Patrick Clancy, Sue Ellen Stavrand, Bill Dugan, Eileen Lang, David Kling, Sarah Dore and James Fitzgerald.
Spring 2018- The Kennebunkport Board of Selectman forms a housing committee to implement the strategies identified in the Housing Needs and Assessment Study. Final Report. After an analysis of the situation, the committee recommended that the Board of Selectmen establish a stand alone non-profit Housing Trust, which would be modeled after successful trusts in communities like Bar Harbor, Nantucket, and Martha’s Vineyard. The Trust would seek to provide housing that is affordable for families and individuals with low to moderate incomes.
2017- The Kennebunkport Board of Selectmen commissioned the Housing Needs and Assessment Study,
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