First-Time Home Buyers Assistance Program

To participate in the program, several criteria must be met. These include, but are not limited to, the following: 

• Benefits-eligible faculty/staff with ongoing renewable appointment in good standing.
• The property must be located within forty (40) miles of Bowdoin's central campus.
• The buyer(s) must not have owned a primary residence within forty (40) miles of campus within the past five (5) years.
• The property must be owned and occupied as your primary residence.
• Primary mortgage financing for the property must be obtained from either Bath Savings or Kennebec Savings Bank in an amount not less than 50% of the purchase price of the home.
• The property must be a single-family residence, townhouse, or mobile home (if permanently affixed to land owned by the employee).

Please be sure to review the full policy (available here on the Bowdoin website) for additional details of eligibility and important features of the loan program.

Answers to frequently asked questions can be found here.

Bowdoin First-Time Home Buyers Assistance Program scenarios.

If you would like to speak with someone about the loan program, please email Amy Dionne in the treasurer's office to set up an appointment.