Bowdoin College First-Time Home Buyer Assistance Program
Funding status: Active
How much assistance
Up to $50,000 forgivable loan (10% of home purchase price) (Forgivable Loan)
One-tenth of the loan principal and annual interest forgiven each year the employee remains in a benefits-eligible position at Bowdoin and continues to own and occupy the home as their primary residence. Fully forgiven after 10 years.
Eligibility
- First-time buyer required: Yes — Must not have owned a primary residence within 40 miles of Bowdoin's Brunswick campus in the past 5 years.
- Geographic restrictions: Must be a benefits-eligible Bowdoin College employee. Property must be within commuting distance of Brunswick campus.
- Homebuyer education required: No
How to Apply for Bowdoin College First-Time Home Buyer Assistance Program
Step 1: Contact Bowdoin College Human Resources to apply. Partner banks for this program are Bath Savings Institution and Kennebec Savings Bank. Program available for closings between March 1, 2024 and February 28, 2027.
Notes
Employer-assisted housing program. Eligible properties include single-family residences, townhouses, or mobile homes permanently affixed to owned land.