Happy belated Memorial Day and beginning of another wonderful Maine summer. If you are a Maine resident in the process of buying, selling or improving a residential property in the near future, then the Maine State Housing Authority is an excellent resource available to assist you.
The Maine State Housing Authority (MaineHousing) is an independent authority created by the Maine State Legislature in 1969 to address problems of unsafe, unsuitable, overcrowded and unaffordable housing.
On February 27,2019 MaineHousing celebrated fifty years of providing affordable housing opportunities for Maine people. By combining the efficiencies of the private financial markets with public housing goals, MaineHousing has been able to improve affordable home ownership and rental housing for many. Since its inception, the agency has taken on many additional duties including a number of federal housing related programs intended to reduce housing costs for Maine people. If you are buying, selling, a first-time buyer, or a homeowner interested in reducing home energy consumption then MaineHousing has a program for you.
Let's review a few of the many programs available to qualified Maine residents.
One of the more exciting programs offered by MaineHousing is the First Home Loan Program. Qualified first-time buyers can enjoy a low interest rate mortgage and a $3500 credit towards closing costs with little or no money down. MaineHousing also offers many programs to assist homeowners with home improvement needs by providing grants or low-cost loans for health and safety related repairs and improvements. This may include electrical and structural repairs. The Veteran Home loan program provides very favorable interest rates to all active, reserve or retired Maine Veterans.
The Energy Assistance program provides much needed energy assistance for qualified households. This may come in the form of energy improvements such as new insulation, a new heating system or in some cases paying electrical bills.
The Arsenic Abatement Program offers grants to eligible single-family homeowners and landlords with private wells where water testing shows evidence of arsenic contamination. Arsenic, a tasteless, odorless, toxic gas has been found in many Maine wells. In addition, many older homes in Maine have lead based paint. The Lead Paint Hazard Remediation Program offers funding to single family households and rental property owners to help make their homes and rental properties safe and free of lead paint.
These are just some of the programs that MaineHousing offers to qualified Maine residents. I hope you visit the MaineHousing website at MaineHousing.org or reach out to them at 1-800-452-4668 to learn more, there may be a program for you. If you have any questions or need any assistance with your real estate needs please contact Kevin Ronan, associate broker affiliated with Alliance Realty, 290 Bridgeton Road in Westbrook. Kronan388@gmail.com, 207-838-4855.