Katahdin Trust Equity Builder Program
Funding status: Active
How much assistance
Up to $25,000 in grant funds for down payment, closing costs, and interest rate reduction (Grant)
Grant funds are due only if the property is sold within the first 5 years of homeownership. No interest accrues on the grant.
Eligibility
- Income limits: Household income at or below 80% of HUD Area Median Income based on property location
- First-time buyer required: Yes
- Geographic restrictions: Available at Katahdin Trust branch locations throughout Maine, including Scarborough, greater Bangor, and northern Maine.
- Homebuyer education required: Yes
How to Apply for Katahdin Trust Equity Builder Program
Step 1: Contact a Katahdin Trust lender to apply. Grant funds are available on a first-come, first-served basis. First-time homebuyers must complete a homebuyer education/counseling program. Property insurance is required.
Notes
Funded by the Federal Home Loan Bank of Boston. Available at Katahdin Trust's 16 branch locations statewide. Scarborough branch at 136 US Route 1.