PORTLAND (AP) – A new program aimed at helping first-time home buyers in Maine will provide a grant of up to $5,000.
Maine Gov. John Baldacci and MaineHousing Director Dale McCormick announced the Gift of Green program Thursday at the Greater Portland Board of Realtors.
McCormick says the goal is to give first-time buyers resources needed to buy a home. It provides qualifying buyers up to $5,000 – not to exceed 4 percent of the loan amount.
There’s also a coupon worth up to $500 in weatherization help.
Funding for the program comes from bond sales. It’s part of MaineHousing’s First Home program offering low fixed-rate mortgages to eligible first-time homebuyers.
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