Offering a boost to residential construction, the first two mortgages were signed yesterday under a new state program “Affordable Mortgage at 7%.” The 20-year mortgages are reserved for apartments or house that are under six years old. The maximum value of the residence is $90,000, the maximum loan size is $71,500, the down payment is 15% and the fixed rate is 7%.
Offering a boost to residential construction, the first two mortgages were signed yesterday under a new state
