An Act To Reduce The Cost Of Purchasing A Home By Providing Grants To Reduce Mortgage Rates
Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD)
Summary
The bill would have the Maine State Housing Authority give grants of up to $15,000 to qualified low‑ and moderate‑income first‑time homebuyers to reduce the interest rate on their mortgage for an owner‑occupied single‑family home. It also creates a state income‑tax deduction for payments made to purchase private mortgage insurance on a primary residence. The measures aim to make homeownership more affordable for households that meet federal income‑eligibility limits.
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