Katahdin Trust Offers Assistance to Homebuyers
Eligible homebuyers can now get a little help thanks to the Housing Our Workforce (HOW) program.
Katahdin Trust Company was chosen to participate in the $2 million HOW program overseen by the Federal Home Loan Bank of Boston. Eligible homebuyers can receive a two-to-one match of down payments made at the time of a home purchase. Homebuyers need to earn more than 80 percent and up to 120 percent of the area median income to qualify for the assistance.
Under the Housing Our Workforce program, which was rolled out just this year, borrowers can receive up to $20,000 in assistance on a first-come, first-served basis from Katahdin Trust, which is an equal housing lender. Buyers must take a homebuyer counseling program, which is available throughout Maine or taken online for a nominal fee. Class schedules are available at www.mainehomeworks.org.
For more information about HOW and other available grant programs, visit any Katahdin Trust office or visit katahdintrust.com/down-payment-assistance.