Lenders who know this project.
You can use any lender who supports new-construction, price- and income-restricted condos. These have direct relationships with MCDP. A pre-qualification is a soft credit pull — no score hit, about an hour by phone.
Town & Country FCU
97% financing (3% down, 660+ credit), no PMI, matches the MaineHousing rate. A strong default for first-time buyers.
Kennebunk Savings
Welcome Home Program for households at or under 80% AMI: 4.875% for the first 10 years (one adjustment in year 11, capped at 6.375%), $1,000 closing-cost credit, 3% down, no PMI, 680+ credit. Also 3–5% down no-PMI loans for everyone else.
Saco & Biddeford Savings
3%, 5%, or 10% down options with no PMI and discounts off processing fees.
Androscoggin Savings Bank
Sharia-compliant loan product and a great choice for self-employed buyers.
Bar Harbor Bank & Trust
3% down options, $500 off closing, lower rate for lower-income households; can sometimes accept less than 2 years of income.
CPort Credit Union
Portfolio loans and access to language interpretation.
Bangor Savings Bank
MaineHousing-approved lender.
Bath Savings Institution
MaineHousing-approved lender.
Skowhegan Savings Bank
Local lender option.
Northstar Mortgage
Offers 50% debt-to-income ratio; does not offer MaineHousing loans.
Also MaineHousing-approved
To use a MaineHousing loan, work with a bank on their approved list — also including: