BANGOR — MaineHousing recently released 2013 data that shows Bangor Savings Bank as the lead lender for the year, providing 112 of the 610 total MaineHousing loans received by qualified buyers. These 112 loans totaling $12.8 million represent 18 percent of the $72 million in loans issued through MaineHousing.
Home financing remains one of the most fundamental aspects of banking and Bangor Savings Bank has been the top lender of MaineHousing loans every year since 2008, providing 936 mortgages in six years. More than 30 lending institutions offer MaineHousing loans in Maine.
“Bangor Savings Bank has been helping Maine people purchase homes for generations and our commitment to home financing is stronger than ever,” said Jim Conlon, Bangor Savings Bank’s president and CEO. “We are extremely proud to be consistently named the top lender for first-time homebuyers by MaineHousing.”
MaineHousing Director John Gallagher commented, “Our goal at MaineHousing is to make owning a home a reality for low- to moderate-income residents. Through our Home Mortgage program last year, we were able to help more than 600 Maine families obtain affordable mortgages. Bangor Savings Bank has topped the lender list for the past several years, and we’re very grateful for their partnership and high level of participation.”
MaineHousing’s Home Mortgage Program provides first-time homebuyers and active duty military and veterans access to low down payment and fixed, competitive interest rate mortgages to purchase single family and mobile homes. All borrowers must meet income guidelines and some program options require borrowers to attend a homebuyer education class. Qualified borrowers can also access special options like closing cost assistance and additional funding to make home improvements.
Conlon added, “The benefits of owning a home are great, whether it’s from a financial or quality of life perspective. Bangor Savings Bank is serious about helping Maine people get into their own homes, and our involvement with MaineHousing’s Home Mortgage Program has helped deserving families across the state realize this dream.”
