Bangor City Hall
73 Harlow Street, Bangor, ME 04401

Phone:
207.992.4200

Business Hours:
Monday - Friday
8:00AM - 4:30PM

CONTRACTORS WANTED!

The Community Development Department works with residential contractors on a regular basis to provide low and moderate income homeowners with necessary improvements on their properties. The Residential Rehabilitation Loan Program provides home repair, including energy efficient upgrades, windows, doors, insulation, roofing, siding, and lead based paint remediation. 

If you are a residential contractor and would like to become a part of our list of qualified contractors, please complete an application at bangormaine.gov/housing or call the Housing Rehab Coordinator at 992-4233 for more information. Let us manage the project, paperwork, and payments for you! 

 

Homebuyer Assistance & Residential Rehabilitation Programs

The City of Bangor is committed to supporting neighborhood revitalization and improving the condition of existing housing for its residents. If you are interested in homeownership or making improvements to your current home, consider the funding assistance opportunities available through the City of Bangor's Homebuyer Assistance and Residential Rehabilitation Loan Programs.

Reasons to Choose the Rehab Program

Our Community Development department works with residential contractors on a regular basis to provide low to moderate income homeowners with the necessary improvements on their properties. From time to time the Residential Rehabilitation Loan Program utilizes contractors for home repairs, including energy efficient upgrades, windows, doors, insulation, roofing, siding, and lead-based paint remediation. Let us manage the project, paperwork, and payments for you!

If you are a residential contractor and interested in becoming part of our list of bid qualified contractors, please complete the application below or call the Housing Rehab Coordinator at 207-992-4233.

Click here for the Contractor Application Packet

For Contractors:

Potential work delivered to you -- you don't have to drum up work on your own
Anything from simple roofing to complete gut rehabs
Assurance of a signed contract and secured funding
Invoices paid in 1-2 business days
Assurance of funding on change orders

For Investors:

Better than bank interest rates at all loan terms
5-year, 10-year, 20-year, or custom terms available -- based on what works best for applicant's goals
With a loan through the City, an investor gets a project manager at no cost
No worries about getting dependable, qualified contractors


Homebuyer Assistance Programs

Down Payment Assistance Program
In order to provide improved access to the market, the City of Bangor offers a Down Payment Assistance Program that assists income-eligible homebuyers with a down payment to purchase a home within the Bangor city limits.

Closing Cost Assistance Program
The Closing Cost Assistance Program offers help to income-eligible homebuyers in the City of Bangor through assistance in the payment of costs associated with closings. Costs covered by the program include: appraisal fees, credit report(s), title search, cost of title insurance policy (including survey decision), flood certification fees, closing attorney's fees, and recording fees.

Click here for a homeownership assistance program application.


 

Residential Rehab Loans

This program is designed to (1) provide low interest financial assistance for necessary improvements to residential property owned or occupied by low/moderate income persons, (2) eliminate code violations in existing housing resulting in safe and sanitary living conditions, (3) implement and encourage energy efficient improvements, (4) eliminate lead based paint hazards, and (5) prevent the decline and deterioration of older neighborhoods.  Such decline results in an erosion of the tax base, a loss of investment equity by owners, and requires more extensive and expensive future remedial action on the part of the homeowner. The preservation of housing stock is one of the primary objectives of citizens, City Council, and staff professionals who believe that the quality of housing is a primary source of neighborhood stability.

Owner-Occupied Property Loans


The Owner-Occupied Property Loan program is designed to assist low-and-moderate income homeowners with the repair and/or replacement of major housing components. The goal is to maintain the structural integrity and essential operations of the house and to benefit homeowners in the City of Bangor. Common items repaired or replaced include, but are not limited to: roofs, windows, doors, siding, exterior trim, electrical and plumbing, foundations, walls, ceilings, floors, interior and exterior stairways, and energy efficiency upgrades.

Investment Property Loans


The Investment Property Loan program assists property owners in the maintenance of properties whose majority occupancy qualifies as low to moderate income tenants. Common items repaired or replaced include, but are not limited to: roofs, windows, doors, siding, exterior trim, electrical and plumbing, foundations, walls, ceilings, floors, interior and exterior stairways, and energy efficiency upgrades.

Program Income Limits (2019)


To qualify for Residential Rehabilitation Loans, Closing Cost Assistance, City Wide Down Payment Assistance, and/or Residential Exterior Improvement Grants in the current Neighborhood Revitalization Strategy Area, family income must be at or below 80% of the Area Median Income (A.M.I.) as determined by the Department of Housing and Urban Development (HUD):

 Family Size 1 Person 2 Persons 3 Persons 4 Persons 5 Persons 6 Persons 7 Persons 8 Persons
80% of
HUD
Median Income
$40,850 $46,650 $52,500 $58,300 $63,000 $67,650 $72,300 $77,000

To qualify for Deferred Residential Rehabilitation Loans, family income must be at or below 50% of the A.M.I. as determined by HUD:

Family Size 1 Person 2 Persons 3 Persons 4 Persons 5 Persons 6 Persons 7 Persons 8 Persons
50% of
HUD
Median Income
$25,550 $29,200 $32,850 $36,450 $39,400 $42,300 $45,200 $48,150

These numbers apply to most City of Bangor Programs; however, Neighborhood Stabilization Program and Down Payment Assistance Program in the current Neighborhood Revitalization Strategy Area (N.R.S.A.) have higher income limits. Please contact the Housing Rehabilitation Coordinator for the income figures for these two programs.

Eligible low-income owner occupied 1-4 family dwellings

  • Interest rate – 3%
  • Term – up to 20 years
  • Approximate monthly payment as low as $5.55 per $1,000 borrowed

Eligible very-low-income owner occupied 1-2 family dwellings

  • Interest rate – 3%
  • Term – until sale or transfer of property
  • Monthly payment – deferred until sale or transfer

Investor owned property with income eligible tenants

  • Interest rate – Prime
  • Term – 10 – 15 years
  • Approximate monthly payment as low as $9.56 to $11.11 per $1,000 borrowed

Important Costs Considerations

A rehabilitation loan may be made only with respect to a property which needs to be brought up to minimum requirements of the 2009 International Residential Building Code, and/or the “Housing Quality Standards” established by the U.S. Department of Housing and Urban Development (HUD).  Once a property is determined to meet this requirement, other potential costs are:

1. Cost effective energy conservation measures such as insulation, weatherstripping, new or modified heating equipment, doors, windows, etc.

2. General property improvements not of a luxury nature, roofing, foundation repair, plumbing, electrical repairs, kitchen and bathroom repairs, replacement of non-working stoves or refrigerators, flooring, siding, painting, etc.

3. Modifications to make a living unit accessible to a handicapped or elderly occupant.

Listing files in 'Residential Rehab Loans'



Investment Rehab Loans

The Investment Property Loan program assists property owners in the maintenance of properties whose majority occupancy as low to moderate income tenants. Common items repaired or replaced include, but are not limited to: roofs, windows and doors, siding, exterior trim, electrical and plumbing, foundations, walls, ceilings, floors, interior and exterior stairways, and energy efficiency upgrades. 

Investment Property Loans - Program Summary

Application for Investors and Non-Profits

Authorization to Release Info

Personal Financial Statement

Tenant Income Verification

Appendix C


Programs are administered by the City of Bangor's Community and Economic Development Department. Please contact (207) 992-4280.

Programs are administered by the City of Bangor's Community and Economic Development Department on a first come-first served basis and are funded by the Department of Housing and Urban Development's (HUD) Community Development Block Grant (CDBG) program. Amounts and eligibility requirements are subject to change without notice. Eligibility for participation is determined at the time of full application upon verification of information provided. Eligibility does not necessarily insure the receipt of financial assistance.