VHFA DROPS HOME MORTGAGE LOAN INTEREST RATES

BURLINGTON— Vermont Housing Finance Agency (VHFA) has dropped the interest rate on a 30- year, no points, fixed-rate loan to 5.75 percent. The new low rate is expected to help more Vermonters realize their dream of homeownership. The new rate became effective today. “We strive to give our customers the lowest rates we possibly can,” said VHFA Executive Director Sarah Carpenter. “When market conditions permit, we always take the opportunity to lower rates. But those conditions change constantly, so we can never predict how long any rate will last. We can predict, however, that we will always be working to give our customers the best value we can.” VHFA offers a variety of mortgage loan products to qualified buyers, with different interest rates. (See rates on our Web site: www.vhfa.org.) Rates are subject to change. Income and purchase price limits apply. Prospective borrowers should contact their local lenders for more details. A list of lenders that offer VHFA products is also available on the Agency’s Web site. VHFA was created by the Vermont Legislature in 1974 to finance and promote the development of affordable housing opportunities for low- and moderate-income Vermonters. Since it’s inception, VHFA has helped more than 25,000 households with affordable mortgages and financed the creation of nearly 7,000 affordable rental units. More information about VHFA and its programs is available on the Agency Web site, www.vhfa.org.