News

MaineHousing offers home loans with lower interest rates for first-time homebuyers

MaineHousing offers home loans with lower interest rates for first-time homebuyers

Photo: 560 WGAN Newsradio


The Federal Reserve has raised interest rates, hoping to slow the white-hot housing market, but there is help for first time homebuyers in Maine.

MaineHousing offers home loans to first-time homebuyers with a lower interest rate, but the agency says what’s really needed is affordable new home construction, specifically for first-time homebuyers and working-class families.

“So many people we talk to are just desperate to find something,” Erik Jorgensen of MaineHousing said. “And they are really having trouble. They’re getting, people are outbidding them by hundreds of thousands of dollars in some cases. And it’s really disheartening for them.”

Latest Headlines

15 hours ago in Local

Police Looking for Missing Washington County Teen

The Washington County Sheriff's Office are looking for 16-year-old Lilyanna Rose Cook, who was last seen in Roque Bluffs, Maine.

1 day ago in Local

Struck-down Maine citizen’s referendum on super PAC donations heads to appeals court

Despite getting over 75% of the vote, a Portland judge deemed the referendum unconstitutional this past summer, citing the ruling made by the Supreme Court on the 2010 Citizen's United case.

2 days ago in Local

Police find missing teen after vehicle pursuit in Skowhegan

A missing teenager was found in the vehicle of a Norridgewock man who police say led them on a chase in Skowhegan on Thursday.

2 days ago in Local

Maine State Police seeking information about bank fraud suspect in Aroostook County and Bangor

A woman is wanted for bank fraud in Bangor and Aroostook County.

2 days ago in Local

What to Know About Maine U.S. Senate Race

Democrats are hoping to unseat Republican Susan Collins.