(Available starting August 1st, 2013)
MaineHousing’s Pre-1976 Mobile Home Replacement Initiative provides income-eligible Maine residents with an opportunity to replace the pre-1976 mobile home they own and occupy as their primary residence with a new Energy Star-certified manufactured home.
The initiative combines an amortizing, interest-bearing MaineHousing mortgage loan with a $30,000 MaineHousing grant to be used to help get residents into a new energy-efficient home in the same location where they currently live. Down payment and closing cost assistance is available through MaineHousing’s Advantage option.
Applicants must be eligible to receive a MaineHousing first-lien mortgage loan, and the grant requires a five-year occupancy compliance period.
To be eligible for this initiative, applicants must:
- Currently own and occupy as their primary residence a pre-1976 mobile home.
- Have an annual household income at or below 80% of the First Home Program income limits.
- Qualify for the First Home or Operation New Home uninsured mortgage loan which will have a valid first-lien mortgage position. (First-time homebuyer requirement is waived.)
The eligible uses for the loan and grant funds include:
- Cost to dismantle and remove the pre-1976 mobile home unit and install on its original site a new Energy Star-certified mobile home or modular home purchased from a licensed Maine dealer.
- Pay off an existing mortgage loan.
- Reimburse eligible borrower displacement costs.
Replacement property requirements apply. The new unit:
- Must be an Energy Star-certified mobile home or modular home which is to be permanently connected to water, sewer, and other utilities.
- Must be purchased by a licensed Maine dealer.
- Must be located on the site of the removed pre-1976 mobile home, which may be on owned land, private leased land or in a park. Units located on leased land must have a recorded lease equal to or greater than the term of MaineHousing’s First Mortgage loan terms.
- Must be anchored to a permanent foundation in accordance with the provisions of the Maine Manufactured Housing Board with the wheels, axles, towing hitch and tongue removed.
MaineHousing has been a trusted source for mortgage financing for more than 30 years.
Apply for the MaineHousing Pre-1976 Mobile Home Replacement Initiative at one of our more than 30 MaineHousing Lenders .
For more information, see related information at the top right of the page, download our First Home brochure , or contact: