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
aboutWERNER
Werner Gilliam has been with the Town of Kennebunkport for 14 years as Code Enforcement Officer/Planner and since 2013 as the Director of Planning and Development. He brings extensive experience in residential construction as well as land use planning to the Trust. His first exposure professionally in addressing housing needs was as a mission worker for Hosanna Industries in Western Pennsylvania where he led volunteer groups serving residents with affordable housing needs and repairs. Werner resides in neighboring Kennebunk with his wife and two boys.
"I am excited to work with the Kennebunkport Heritage Housing Trust at this critical crossroads. They are to be commended for taking an active role in deciding to offer housing opportunities for its future families as well as its longtime residents. By working to provide affordable housing options they are saying that they want to be a thriving community with a diverse demographic, have families in decent homes, kids in the school, and employees for its businesses. I believe it all starts with housing; enable decent affordable housing for your town and see what you can become!"