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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
Join us for an Information Session!
Interested applicants are encouraged to join representatives from the Heritage Housing Trust in virtual information sessions. Attendance is not required as part of the application process, but encouraged for applicants to learn more and ask questions.
During these 1 hour sessions, participants will learn more about the:
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Heritage Woods neighborhood;
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Heritage Home options;
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Eligibility requirements;
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Application process;
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Financing, Logistics + Timeline;
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...and more!
Heritage Woods Informational Session (Zoom Virtual Session) #1- Sunday January 3, 2021 1pm- COMPLETED
Heritage Woods Informational Session (Zoom Virtual Session) #2- Tuesday January 5, 2021 4pm- COMPLETED
Heritage Woods Informational Session (Zoom Virtual Session) #3- Wednesday January 6, 2020 7pm- COMPLETED
Heritage Woods Informational Session (Zoom Virtual Session) #4- Sunday January 10, 2021 3pm- COMPLETED
To watch the Becoming Heritage Woods Homeowner video (42 min), click HERE.
To watch the Financing a Heritage Woods Home video (18 min) with Eric Nixon (Bangor Savings), click HERE.
If you are interested in scheduling an Info Session or would like to speak directly with us, please contact us directly at infokhht@gmail.com.
Are you a business owner or employer and want to learn more about bringing this information to your employees? Contact us at infokhht@gmail.com to schedule an Info Session for interested staff.
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