AUGUSTA, Maine—Aroostook County residents whose homes were destroyed or damaged by the recent flood may be eligible for low-interest loans from the Maine State Housing Authority.
MaineHousing Director Dale McCormick says the agency is working with local lenders to accept home repair or replacement applications.
McCormick says Aroostook County residents whose homes need repairs or replacement should check with the Savings Bank of Maine or call MaineHousing to see if they qualify for a disaster relief loan.
MaineHousing offers repair loans of up to $20,000 at a 3 percent annual rate. For home replacement loans, eligibility requirements match those of MaineHousing's first-time homebuyer program.
Other agencies are also offering flood aid. The Finance Authority of Maine has approved two programs to aid businesses in designated disaster areas that have been affected by recent excessive rain, snow melt and flooding.
