1)      The Federal Income Tax Credit. If you are a First Time Homebuyer,* you can file your federal income tax return and receive a credit of up to $8000!  This is a great program which can help people when they file their return, to reduce the taxes owed, and possibly receive more money back in the form of an overpayment refund. There is now also a program under which an existing homeowner, who is purchasing a new primary residence to replace their current primary, can qualify for up to a $6500 tax credit.

2)      First Time Homebuyer? There are some excellent programs available, such as the MSHA (Maine State Housing Authority) Gift of Green with the USDA Rural Development Guarantee loan. This is a zero-down payment program, which is available through Mortgage Lenders at Skowhegan Savings. The Gift of Green, is a grant of up to $2500 which is applied towards any required closing costs, thus reducing the amount you need to bring to closing. There is more information on Gift of Green here. And of course, all of the lenders at Skowhegan Savings can supply details on this program - don't hesitate to give us a call.

3)      It is a Buyer's Market! Maine, especially rural Maine, continues to be an opportunity for people to buy at a great price. There are more sellers than buyers at this time, and sellers are often looking to make a deal. There is no predicting how long this market will last - so people ready to buy financially, but are "thinking about it," should make a decision soon. Offers can often be made with good terms, and the ability to negotiate for other items, such as seller-paid closing costs.

4)      Excellent Rates Continue. We continue to see very favorable pricing on mortgage loans. Plus, with options such as shorter terms, and bi-weekly payment options, people buying or refinancing, can find a number of ways to save money.

5)      The Bi-weekly Payment. This is an easy way to manage your mortgage payment, with an amount being due every two weeks. This reduces the principal at a greater pace, thus reducing your overall interest and amounting to an extra payment each year. The average bi-weekly payment schedule will shorten a 30 year mortgage repayment, by 5 or more years. The best part is you don't even need to think about it - once your loan is closed, the payment schedule with your interest savings is in motion.

The decision to buy a home is a significant and lasting one. Why not contact one of our lenders to discuss the programs available to you? We will guide you through the mortgage process, and arm you with what you need to make an offer on a home.

*You or your spouse cannot have owned any home as their primary residence in the three 3 years prior to the closing date of the home you are buying), and you meet all additional IRS rules (see www.irs.gov).

 - Tracy Dean, Skowhegan Savings

You don't need the latest iPhone or Blackberry to use Telephone Banking from Skowhegan Savings. Any land line or mobile phone can access this service to accommodate your personal and business banking needs 24 hours a day, 7 days a week. This eTegrity service connects you to your accounts anytime, anywhere by simply using your phone.

With Telephone Banking and the push of a few buttons, you can verify account balance and transaction details, make loan payments, transfer funds between accounts and obtain information regarding Skowhegan Savings' branch locations and hours.

Telephone banking is FREE for all Skowhegan Savings customers and can be especially useful if:

• You live or work far away from our branch locations
• You regularly transfer money between accounts or make loan payments
• You are on the move and need to manage your accounts

It is easy to enroll.  Simply contact customer service by calling 1-800-303-9511 to sign up today and receive a Personal Identification Number (PIN) to access your account(s). To learn more about this service, visit our Web site here.