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
Meet KHHT
Who we serve:
The Kennebunkport Heritage Housing Trust serves residents of low, moderate, and middle income level who will live year-round in Kennebunkport. These residents include both individuals and families.
How we fund:
The Kennebunkport Heritage Housing Trust raises funds to cover its project and operating costs through donations from individuals, businesses and foundations, commercial and private financing, and grants from town governments and public agencies.
What we create:
The Kennebunkport Heritage Housing Trust maintains high standards for design and construction to
assure a quality living environment is created consistent with the objective of achieving long-term affordable homes. The initial focus will be to build single family homes.
Our initial goal:
The initial goal of the Kennebunkport Heritage Housing Trust is to build 25 permanently affordable homes by 2025. We believe this goal will help us achieve our first step in beginning to respond to the urgent needs facing Kennebunkport.