Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88 Page 89 Page 90 Page 91 Page 92 Page 93 Page 94 Page 95 Page 96 Page 97 Page 98 Page 99 Page 100 Page 101 Page 102 Page 103 Page 104 Page 105 Page 106 Page 107 Page 108 Page 109 Page 110 Page 111 Page 112 Page 113 Page 114 Page 115 Page 116A p r i l 2 0 1 7 4 3 Real estate Us Versus ThePropertyMarket Buying a home can be a defining step towards independence. But with portland’s popularity pushing house prices sky high, how do first-time buyers turn dreams into bricks and mortar? By Olivia GUnn E veryone makes big moves in the spring. U-Haul trucks block side streets on Munjoy Hill. “FREE” signs are taped to forlorn futon frames left curbside. Facebook posts promise ‘a clean, responsible roommate who works most- ly nights.’ In the four years we’ve lived in Portland, my fiancé and I have moved twice. Our frantic search usually ends in less space for more rent. Each time, our parents ask, “Have you talked about buy- ing?” Well, if you mean pointing out dream houses while headed to Higgins Beach or coveting cabins on Instagram, then, yeah, we’ve thought about buying. “I have two daughters, both in their late twenties,” says Bruce Ocko, 56, Senior Vice President of Mortgage Lending at Bangor Savings Bank. “When I was their age, the biggest goal was to own my own house. That was the first step into adult- hood. That’s not necessarily the driving fac- tor for younger generations. They’re more concerned with cultural and societal issues and being in an area that’s culturally thriv- ing. It’s less important for them to have the white picket fence.” On top of this, many of Generation Y, myself included–I’m 27–are still trying to figure out the next steps of our five-year plans. Budgeting for next month’s rent is enough of a challenge. But as Maine al- ready has the oldest residents of any state in the country, Ocko believes it’s impor- tant that the ‘youth’ know there are options for buying a home should we consider set- tling down here. Because, for all the cul- tural camouflage, there really still is an in- side track. DOllaRs & sense Since the formation of MaineHousing in 1969, the program has offered a First Home Loan for “individuals and families who cannot afford decent, safe, sanitary housing without financial assistance.” For first-time homebuyers in Portland and surrounding areas, there’s an income limit of $76,800 for a household of one to two members and a limit of $88,320 for three or more. Com- bined with a Federal Housing Authori- ty Loan and private mortgage insurance through United Guaranty, a homebuyer could potentially get a first mortgage with no down payment after meeting the criteria. Daring to take on a mortgage is the first step, according to Debbie King-Johnson, Consumer Education and Outreach Offi- cer at MaineHousing. “Some lenders will qualify you,” but beyond that, in the com- fort of your own financial privacy, “you need to do your own housing budget.” That is, even if someone else qualifies you, you