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VHFA News

Posted by: admin on May 22, 2006 - 4:35am

BURLINGTON—Vermont Housing Finance Agency launched a Web site for the Vermont Coalition to End Homelessness (www.helpingtohouse.org). The site went live May 16. The site is home to two parallel efforts in Vermont to curb homelessness — Vermont's Continuums of Care and the Vermont Interagency Council on Homelessness — and offers: meeting minutes and agendas for both groups; searchable databases of the 13 regional Continuums of Care in the state and Vermont homeless shelters and providers; an events calendar; publications, reports and Web links; and Legislative priorities for the two groups. VHFA Policy and Planning Coordinator Maura Collins oversaw development of the site. VHFA Communications Coordinator Craig Bailey designed the graphical user interface and coded the backend database applications that drive the site. "If we're going to end the growing homeless crisis in the next 10 years, coordination among homeless providers, housing advocates and local communities is crucial," Collins says. "This site provides the public link between organizations and citizens all helping to house homeless Vermonters." The site includes a custom-built content management system that allows any coalition administrator to maintain the site without the assistance of a Web developer. With extensive use of Cascading Style Sheets, the site passes conformance level Triple-A of the World Wide Web Consortium (W3C) Web Content Accessibility Guidelines, the W3C's highest level of disability accessibility standards. With the launch of helpingtohouse.org, the number of sites VHFA has developed for outside nonprofit housing organizations comes to four: Vermont Coalition to End Homelessness, Vermont Housing Awareness Campaign (www.housingawareness.org), Vermont Housing Data (www.housingdata.org), and Vermont Resident Service Coordinators (www.vrsc.org).

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Posted by: admin on April 13, 2006 - 8:27am

BURLINGTON—More Vermonters will be able to purchase homes using Vermont Housing Finance Agency’s low-interest mortgages thanks to new income and purchase price limits approved by VHFA’s Board of Commissioners. “VHFA is always working hard to respond to Vermont’s housing market and its constantly-growing prices,” explained Executive Director Sarah Carpenter. “The new limits mean more Vermonters and Vermont properties have become eligible for VHFA financing, but homeownership in our state will continue to be a challenge as wages don’t keep up with the rising price of homes.” Income and purchase price limits vary by county and help determine which homebuyers and properties are eligible for VHFA financing. Income limits are ceilings on what households can earn and still qualify for VHFA mortgages; purchase price limits are the maximum price a home can sell for and still be eligible for VHFA financing. VHFA raised the limits on April 10. While each county’s limits are unique, the maximum eligible purchase price for existing homes rose by $30,000 or more throughout the state. The maximum eligible purchase price for newly constructed homes rose by at least $25,000 in most counties. Current limits are available at www.vhfa.org, or by contacting a participating VHFA lender. A complete list of lenders is available at the web site. VHFA offers a variety of mortgage loan programs for qualified borrowers. The Agency’s 30-year 0- point interest rate is 5.75%. For buyers who need cash for downpayment and/or closing costs, VHFA offers a cash assistance rate option at a slightly higher rate. All rates are subject to change. VHFA was created by the Vermont Legislature in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the Agency has helped more than 25,000 Vermont households with affordable mortgages and financed the development of almost 7,000 affordable rental units.

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Posted by: admin on March 22, 2006 - 3:41am

BURLINGTON, VT  River Valley Credit Union has become a Vermont Housing Finance Agency (VHFA) participating lender. Participating lenders work with borrowers to answer questions about purchasing a home with a VHFA mortgage, determine borrowers’ eligibility, and process applications for low-interest rate VHFA home loans. “We’re pleased to have River Valley Credit Union join the ranks of VHFA participating lenders,” said VHFA Executive Director Sarah Carpenter. “With more than 30 such lenders across the state, Vermonters now have more choices than ever when it comes to selecting a participating lender they feel most comfortable with helping them through the home-buying process.” “We at River Valley Credit Union are very pleased to be a participating VHFA lender," said Vice President Stephen Duclos. "Being a community lender, it is extremely important we partner with VHFA for our credit union members’ home buying needs.” River Valley Credit Union has offices in Bellows Falls, Brattleboro, Putney, Springfield and Townshend. VHFA’s Web site (www.vhfa.org) features a searchable database of all VHFA participating lenders — including names of mortgage originators at each institution and detailed contact information. 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 helped almost 25,000 households with affordable mortgages and nearly 7,000 families into affordable rental units.

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Posted by: admin on March 1, 2006 - 5:45am

BURLINGTON, VT  Gov. Jim Douglas has appointed Bartlett H. “Bart” Frisbie of Colchester and Robert H. Alberts of Bridport to the VHFA Board of Commissioners. Frisbie and Alberts fill the two vacancies created when the Agency’s Board was expanded from seven members to nine, following the Legislature’s passage of H.521, which Gov. Douglas signed into law on June 23, 2005. “We believe a larger Board will benefit VHFA by providing an even broader range of experience and expertise,” says Executive Director Sarah Carpenter. “We’re all looking forward to the energy and fresh perspectives Bart and Rob will bring.” Frisbie owns Sterling Construction Inc. in South Burlington, a construction firm developing neighborhoods and building residential housing throughout Chittenden County. He’s served on the Board of Directors of the Home Builders and Remodelers Association of Northern Vermont for the past 26 years, including terms as Secretary, Vice President and President. In addition, Frisbie is a member of Master Builders, a trade group of builders from across the country. He has also served with the Colchester Community Development Corp. Alberts is President of Eastview at Middlebury Inc., a planned multi-level, nonprofit retirement community in Middlebury, and owner of Middlebury Fitness, a full-service fitness and wellness center. He is also a partner in Community Investment Counselors, a Middlebury investment firm specializing in fee-based asset allocation investment programs. Alberts serves on the Board of Directors of the United Way of Addison County and the Middlebury Business Association. VHFA’s Board of Commissioners governs the Agency. The Board includes four ex-officio members and five members appointed by the Governor of Vermont, representing private and public lending, real estate, and housing development interests. 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 helped almost 25,000 households with affordable mortgages and nearly 7,000 families into affordable rental units.

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Posted by: admin on February 17, 2006 - 3:56am

Burlington, VT—Vermont Resident Service Coordinators (VRSC) launched its Web site on Feb. 14, with help from Vermont Housing Finance Agency (VHFA). The site (www.vrsc.org) is the organization’s first venture onto the Web. It offers information about VRSC, an archive of the organization’s newsletters, a database of resident service coordinators (RSC) working in Vermont, a collection of helpful links for RSCs and more. VRSC members have access to the site’s member’s only section, which contains a variety of useful resources, including a members’ forum. VHFA Communications Coordinator Craig Bailey developed the site, working with VRSC Administrator Cathleen Gent. It includes a custom-built content management system that allows VRSC to maintain the site without the assistance of a Web developer. “The VRSC Web site is an all-in-one resource for Vermont's resident service coordinators to help perform their work every day,” says VRSC President Gina Berry. “We thank VHFA for making the Web site possible.” VRSC is a professional group dedicated to providing educational and peer support to individuals and organizations offering resident service coordination services in housing across Vermont. 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 helped almost 25,000 households with affordable mortgages and nearly 7,000 families into affordable rental units. VHFA Director of Multifamily Programs Sam Falzone has been involved with VRSC since its nascent stages in 1995.

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