19 This bill establishes a program to be administered by the Maine State Housing
20 Authority that provides down payment assistance in the form of loans to prospective first-
21 generation homeowners with household incomes at or below 100% of the area median
22 income where the property to be purchased is located. Loans issued under the program
23 may not exceed 10% of the purchase price of the property and administrative costs may not
24 exceed $3,200 per loan. The bill provides ongoing funding of $10,000,000 per year to
25 administer the program.