Home : About Us : 2008 Accomplishments
Each year, more than 90,000 Maine households enjoyed the benefits of MaineHousing programs and services – about one of every six households statewide.
MaineHousing offers mortgages with low fixed interest rates and down payment assistance to help make homeownership a reality for eligible buyers who have not owned a home in the past three years. Veterans and active duty military also may be eligible. In 2008:
- 1,163 Maine families bought homes with a MaineHousing mortgage (with an average interest rate of 5.45% for borrowers who paid 2 points, and 5.61% for borrowers who did not); about a 20% of the borrowers also received down payment assistance through the Maine Assist option (with an average benefit of $3,300).
- 113 homebuyers received gap financing through the Maine American Dream Initiative.
- 2,306 people attended a homebuyer education class.
- 12,000 households enjoyed the ongoing benefits of MaineHousing’s low fixed interest rates.
In addition, 35 homes in two subdivisions that received MaineHousing financing were completed, with another 51 homes in 4 subdivisions funded or in development.
Using federal Low Income Housing Tax Credits and other funding, MaineHousing financed development of new affordable rental housing for working families, seniors, people who are homeless, and persons with special needs. In 2008, completed MaineHousing financed developments included:
- 241 units in 8 family developments.
- 100 units in 4 senior developments.
- 59 units in 8 supportive housing developments or developments for people who are homeless or have special needs.
The pipeline of funded rental housing includes 10 family developments (335 units); 10 senior developments (316 units); and 14 supportive developments (91 units).
MaineHousing’s Asset Management program ensures continued affordability of subsidized apartments, and provides Housing Choice Vouchers to enable low income renters to afford market rate units. In 2008:
- 18,132 rental units were maintained in 819 projects.
- 3,827 households, on average, benefitted from Housing Choice Vouchers each month.
- 4 projects took advantage of the Loan Modification Program, resulting in 78 more years of unit affordability.
MaineHousing’s Low Income Home Energy Assistance Program (LIHEAP) helps low-income families pay for heat to stay safe and warm through the winter months. During the 2007-08 heating season:
- 49,951 households were assisted with an average fuel benefit of $757.
- 4,796 households received emergency fuel assistance.
During the 2008-09 winter MaineHousing anticipates providing fuel assistance to up to 70,000 households with an average benefit of $940, and providing up to 5,000 households with emergency fuel.
MaineHousing’s Lead Hazard Control Program provides 0% deferred forgivable loans to assist eligible homeowners and landlords make more homes lead safe.
- 92 additional homes became lead safe in 2008.
- MaineHousing secured a new 3-year, $3 million federal grant to continue the Lead Hazard Control Program. MaineHousing matched the federal grant with $1.3 million in State HOME and other state funds.
Since beginning the program, MaineHousing has provided funding to make hundreds of homes lead safe, and has trained nearly 1,000 contractors, who in turn can help make additional homes lead safe.
MaineHousing offers very low interest rate loans and grants to income-eligible households through the Maine Home Repair Network. In 2008:
- 248 households received assistance, including 129 very low interest home repair loans, 33 home retrofits for persons with disabilities, and 86 elderly hardship grants.
- 24 homes that were beyond repair were replaced.
Since 2001 MaineHousing has helped fund repairs for 1,418 homes. Including previous home repair efforts, over 5,000 households have benefited from MaineHousing-financed home repairs.
MaineHousing’s Weatherization and Appliance Replacement Programs invest in energy efficiency to reduce home heating and utility costs and make homes more affordable.
- 831 low-income homes were weatherized.
- 1,358 households benefitted from furnace cleaning, tuning and evaluation (CTE) and/or related improvements.
- 1,600 older inefficient refrigerators/freezers were replaced, and 9,300 light bulbs were installed.
Over time, MaineHousing has weatherized over 18,000 homes and replaced inefficient appliances in 8,600 homes. In addition, MaineHousing’s Home Energy Loan Program has provided low interest rate loans to moderate-income homeowners for energy improvements.
MaineHousing finances emergency shelters, works to end homelessness through its Rental Assistance Coupon Plus (RAC+) Program, and finances the development of supportive housing. In 2008:
- 250,738 bednights of housing for people who are homeless were provided by 42 shelters that received MaineHousing funds.
- 95 new households that were formerly homeless received rental assistance through the RAC+ Program.
The RAC+ Program has provided assistance to 1,030 households since the program began in 2002.
In addition, MaineHousing-financed projects that opened in 2007 included:
- 25 new units of permanent supportive housing for households that had been homeless, in five new rental housing developments.
- 466 security deposits to enable people who were homeless to move into apartments.
Over time, MaineHousing has financed development of more than 280 units of permanent supportive housing and over 215 units of transitional housing units for households who were homeless.
MaineHousing helped secure nearly $10 million through the federal Continuum of Care in 2008, which will benefit people who are homeless. In addition MaineHousing:
- Sold $148.4 million of tax-exempt bonds to finance homes for low and moderate-income homebuyers.
- Secured nearly $79 million in federal rental assistance from the U.S. Department of Housing and Urban Development.
- Secured over $43 million in heating and weatherization assistance from the U.S. Department of Health and Human Service and $2.7 million for weatherization from Department of Energy.
- Allocated about $27 million in federal Low Income Housing Tax credits to finance affordable rental housing.
- Secured approximately $7.3 million in federal HOME Partnership grant funds that are used in a variety of housing repair and development programs, to support emergency homeless shelters, and to help make homeownership possible.
- Secured a new $3 million federal Lead Hazard Control Program grant
These efforts enabled MaineHousing to invest over $300 million to make housing more affordable for Maine people in 2008.