The Federal Home Loan Bank (FHLB) of Boston is coming to Burlington to host a training on the Affordable Housing Program on June 26th. This training is important for any developer or lender who is planning to apply for AHP funds in 2018 or in the future. It will be held at Hotel Vermont (41 Cherry Street, Burlington) from 8:30 to noon. For more details and to register go to their website.
Finance
Taylor Street housing and transit center construction begins
Senator Patrick Leahy joined Governor Phil Scott, VHFA Deputy Director Maura Collins, and many supporters in Montpelier on Tuesday to celebrate the groundbreaking of the 1 Taylor Street affordable housing project. The project, sponsored by Housing Vermont and Downstreet Housing & Community Development, will create 19 affordable apartments for low-income Vermonters as part of a 30 unit development incorporating a new city transit center. The project was funded in part by tax credits and a loan awarded by VHFA.
VHFA awards millions in tax credits for affordable rental housing development
On Monday, April 16 the Vermont Housing Finance Agency (VHFA) Board of Commissioners committed federal Housing Tax Credits and Vermont Affordable Housing Credits to construct and renovate apartments for low-income Vermonters over the next several years. The $3.5 million in ten-year federal capped credits, $319,000 in ten-year federal uncapped “bond” credits and $173,000 in five-year state credits will support the development of 251 apartments in eight communities across the state. VHFA permanent and construction financing totaling $19 million was also approved for five of the projects.
House Commerce Committee approves expanding VHFA down payment assistance program
H.R. 766, the bill that includes an expansion of VHFA’s Down Payment Assistance Program, was approved by the Vermont House Committee on Commerce and Economic Development last week. Since the program started in 2015, demand among qualified first-time home buyers has been twice what can be funded through the Vermont Affordable Housing Tax Credit, the program’s designated funding source.
Want to buy a home? Attend an upcoming home buyer seminar.
Interested in purchasing a home and want to learn more about the process? Join one of these fun and informative seminars and learn about buying a home from industry experts (lenders, real estate agents, real estate attorneys, the Vermont Housing Finance Agency and homeownership professionals). Light refreshment provided at each event.
Wednesday, February 28 (6:30 pm to 8:30 pm) Woodchuck Cider in Middlebury
Hosted by Vermont Federal Credit Union
RSVP by Wednesday, February 21
Governor announces successful sale of Vermont’s first Sustainability Bonds for affordable housing
Governor Phil Scott announced Thursday the successful sale by Vermont Housing Finance Agency (VHFA) of Vermont’s first Sustainability Bonds. The bonds sale raised $37 million to fund the “Housing for All” initiative, the largest state investment in housing in several decades. Proceeds from the sale of the bonds will be awarded by the Vermont Housing Conservation Board (VHCB) for constructing and rehabilitating 550-650 homes statewide over the next two to three years. Vermont investors played a critical role in the success of the bond sale.
Learn about the homebuying process
Buying a home is a complex process and often one of the largest financial investments made by a consumer in their lifetime. Homebuyer education provides consumers with valuable insight and tools to better navigate the home purchase process. The Vermont Housing Finance Agency (VHFA) requires homebuyer education and counseling for all consumers obtaining a VHFA loan to ensure that every consumer is well-informed and prepared for homeownership.
Vermont Bankers Association 2nd Annual Women in Leadership Conference
The Vermont Bankers Association (VBA) is hosting the 2nd Annual Women in Leadership Conference on Wednesday March 7, 2018 at the Capitol Plaza Hotel & Conference Center in Montpelier. VHFA is a proud sponsor of this event that is open to men, women and all levels of staff at any VBA member institution.
The conference provides an opportunity for all VBA member participants to network with colleagues and business leaders as well as learn about emerging industry topics.
To learn more or register for this event please access additional details here.
2017 VHFA Single Family Homeownership Program Top Performers
VHFA is pleased to announce the 2017 Top Performers across the local Vermont banks, credit unions and mortgage companies who participate in the VHFA single family homeownership program. VHFA's participating lenders are essential to meeting VHFA's mission to provide homeownership opportunities for low to moderate income Vermont households.
Please join VHFA in congratulating the following organizations and individuals who originated the highest VHFA mortgage loan production volume in 2017:
VHFA introduces Sustainability Bonds to deliver more affordable housing to Vermonters in need
This week the Vermont Housing Finance Agency (VHFA) Board of Commissioners approved plans to sell $37 million of bonds during the week of January 8, 2018 as the first Sustainability Bonds to be issued in the State of Vermont. Building upon the strength of the market in Green Bonds and the growing interest in socially responsible investments, the designation as “Sustainability Bonds” will enable VHFA to maximize funding for the “Housing for All” initiative enacted by the Vermont Legislature in 2017. Bond proceeds will be administered by the Vermont Housing & Conservation Board to create 550-650 homes statewide for low- and moderate-income Vermonters.