Grants up to $15,000 to reduce mortgage rates for low and moderate income homebuyers in Maine.

This bill mandates the Maine State Housing Authority to administer a grant program offering up to $15,000 per home purchase to lower mortgage rates for low and moderate income individuals buying an owner-occupied single-family residence in Maine. The grants aim to make homeownership more affordable by reducing mortgage rates. The Maine State Housing Authority will manage the program, using funds allocated for this purpose.

Grants up to $15,000 to reduce mortgage rates for low and moderate income homebuyers in Maine.

This bill mandates the Maine State Housing Authority to administer a grant program offering up to $15,000 per home purchase to lower mortgage rates for low and moderate income individuals buying an owner-occupied single-family residence in Maine. The grants aim to make homeownership more affordable by reducing mortgage rates. The Maine State Housing Authority will manage the program, using funds allocated for this purpose.