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BURLINGTON—Recent analysis of Vermont Housing Finance Agency (VHFA) home loan data shows delinquency and foreclosure rates of VHFA mortgages were considerably lower than rates for Vermont and the nation. As of June 30, 2010, VHFA home loans that were delinquent by 90 or more days were just 0.94% of all the Agency’s outstanding loans. Vermont’s rate was more than twice as high: 2.05%. The national rate was 4.54%. The number of VHFA loans in the foreclosure process on June 30, 2010, was 1.37% of all VHFA loans, compared to Vermont’s overall foreclosure rate of 2.71% and the national rate of 4.57%. (See table below.) “VHFA’s numbers are impressive, but not accidental,” according to Executive Director Sarah Carpenter. “VHFA consciously avoids tactics less savory subprime lending institutions employ that helped lead to the country’s recent economic collapse. “We’re focused on responsible lending — solid underwriting combined with homebuyer education. No one wins when a buyer ends up with a house they can’t truly afford.” VHFA’s delinquency and foreclosure rates are even more encouraging considering the Agency’s low- to moderate-income clientele. More than half of homebuyers VHFA assisted last year are considered “low-income” — earning less than 80% of the area median income. Seventy-five percent had annual incomes of less than $60,000. Eighty-two percent had incomes less than the median income in their areas. “There’s a myth about lower-income borrowers being a greater credit risk that just isn’t true,” Carpenter added. “It’s all about finding a good match — the right property, the right buyer, the right mortgage.” VHFA recently announced its lowest home loan rate in its 36-year history: 4.125% APR for a 30- year, fixed rate loan with no points for qualified borrowers. Rates are subject to change. Prospective borrowers should contact their local lenders for more details. A list of participating VFHA lenders is available on the Agency’s Web site: www.vhfa.org. The Vermont Legislature established VHFA in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the agency has provided low-cost homeownership financing to approximately 27,000 Vermont families, and financed the construction or rehabilitation of approximately 8,400 affordable apartments. VHFA is an Equal Housing Opportunity.