To address the housing crisis and workforce shortage in Maine, Senator Angus King is joining bipartisan legislation that would help first responders and teachers afford homes and reside in the communities in which they work.
On March 8, King signed on as a co-sponsor of the Homes for Every Local Protector, Educator and Responder (HELPER) Act, which would establish a new, one-time-use home loan program for law enforcement officers, firefighters, medical first responders and teachers who have not owned a home for the past three years.
According to King, Maine’s competitive housing market mirrors trends across the country, with high prices, rising interest rates and low inventory affecting prospective home buyers. In February, the Maine Association of Realtors reported that the median home sale price was $353,000, making the traditional 20% down payment for a home more than $70,000.
“For middle-class families, pulling together a lump sum of $70,000 — or $105,000 if they’re trying to buy in Cumberland County — simply isn’t feasible,” King said in an interview with the Portland Press Herald.
The HELPER Act, which draws inspiration from the successful federal Veterans Affairs Home Loan Program, would eliminate both the mortgage down payment and monthly mortgage insurance premium requirements for public service providers.
Instead, a 3.6% upfront mortgage insurance premium would be required to help fund the program.
King discussed the crucial role of essential workers and educators in communities.
“Isn’t it a shame that a teacher or a police officer can’t live in a community where they work because of the cost of housing?” King said. “These are people that are the mainstays of our communities.”
The proposed legislation also seeks to bolster workforce retention efforts, particularly in states like Maine facing shortages in crucial sectors.
While the HELPER Act represents a significant step forward, King acknowledged that it alone cannot solve Maine’s housing crisis. He described the need for “silver buckshot” instead of a “silver bullet” to address the complex problem.
Beyond legislative measures, efforts to address the housing crisis include modernizing construction practices, lowering construction costs and enhancing existing housing rehabilitation programs.
According to a new report from MaineHousing, the total number of homes needs to increase by 11% to accommodate the state’s growing population.
King said the state is also looking at housing-boosting initiatives from corporations and organizations across the country for guidance, referencing employers like Amazon, Walmart, the University of Southern California and Johns Hopkins University, which have recently launched programs to construct new housing units while offering financial assistance to workers.
King remains optimistic about the bill’s prospects, noting the diverse coalition of sponsors from both parties.
“And this is one of the ways — a small way — that all together, we’re going to deal with this housing crisis that’s rampant in Maine right now,” King said.
