Maureen’s dream of homeownership began many years ago when she was a self-employed painting contractor. Her quest eventually led her to become a homeowner after more than 10 years of trying.
“Because [MaineHousing’s homeownership program] worked for me and I struggled for a long time to obtain a home, I really promote the program to people, constantly. It’s the safe way to go,” Maureen says now.
“I thought about it for a long time,” she says. “I spent a lot of time fixing up other people’s homes. But being single and self employed…it is really difficult to qualify for a loan. I went [to a bank] once, and I was overwhelmed by what they needed.”
Maureen changed careers, becoming manager of the On-The-Job-Training program for Women Unlimited, in order to further her dreams of becoming a homeowner. It was too daunting to try and buy a home while self-employed, she felt.
She heard about MaineHousing’s homeownership program through her lender, and through word-of-mouth.
“Lots of times you have to hear things a few times before you take action,” Maureen acknowledged. “I just wanted to plant some roots. I applied, and I had good enough credit.”
In addition to the low interest rate, what is especially appealing to Maureen about MaineHousing’s program is the free payment protection provision, which pays the mortgage for four months if the borrower becomes unemployed.
“That’s enormous, because I don’t have another income to fall back on,” she said. “Working with MaineHousing is a lot more like you have a partner in this, rather than working with some other kind of loans.”
Maureen has owned the home for over five years now, and says she “can’t imagine” not owning a home, despite occasional frustrations like shoveling this winter’s deep snow. She plans to stay where she is, but is making improvements to her home.
“I am very handy and have made some improvements, and have some long term plans for the place,” she confided.
Immediate plans for this summer include constructing a front porch, where she can relax and enjoy the view of the lake across the street from her home.
“I just want to sit out there at night,” Maureen said.
To learn more about MaineHousing, please visit their website.
For more information on Housing Bonds, see our advocacy page.
Watch Maureen's story.
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