The Short Term Real Estate Acquisition Program (STREAP) will provide flexible, short-term capital that allows partners to take advantage of an opportunity to acquire real estate quickly, with reduced time and paperwork requirements as compared to other MaineHousing funding programs. Funds may be used for real estate acquisition and associated closing costs. The borrower must be acquiring the properties to preserve or create new affordable housing.
All applicants will be required to describe the extent to which they can address one or more of the following Consolidated Plan priorities:
Eligible uses include:
You may be eligible for a Pre-Development Loan if you are a: