Finance

VHFA awards state tax credits for affordable homeownership development

Last week the VHFA Board of Commissioners awarded state housing tax credits for five affordable homeownership development projects. In total, VHFA allocates $1,075,000 in state housing tax credits each year, $425,000 of which was awarded last week for affordable homeownership development. Once sold to investors, those credits will yield approximately $1.9 million in equity for construction.

Five things to know about pre-approvals

VHFA offers loan programs through local participating lenders to help people bridge the gap and afford to buy a home in Vermont. Getting a pre-approval from a lender is the first step in the process. Here are answers to the top 5 questions homebuyers have about pre-approvals.       

VHFA to hold information sessions on Tax Credit Qualified Allocation Plan updates

Vermont Housing Finance Agency (VHFA) is in the process of updating the Qualified Allocation Plan (QAP) for 2022 to 2023. The Agency sought initial public comment on the plan in February. As part of its continued public engagement VHFA will hold four virtual informational sessions in August and September for the public to ask questions and provide further feedback on proposed QAP updates. 

VHFA launches Housing Investment Fund with VCF

Vermont Housing Finance Agency (VHFA) is pleased to announce the launch of the VHFA Housing Investment Fund with Vermont Community Foundation (VCF) as its founding investor. This will be initiated with a VCF investment of $1.5 million for a pre-development program and a long-term loan program made to developers of affordable rental housing. VHFA is working to expand the fund with investments from other community partners to grow its impact.  

VHFA awards federal and state tax credits to develop and preserve affordable housing

The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced on Monday the award of federal and state housing tax credits and loans to support the development, rehabilitation or preservation of 104 permanently affordable apartments in six communities across the state.

AHP funding application opens June 8

The Federal Home Loan Bank of Boston (FHLBB)'s 2020 Affordable Housing Program (AHP) will begin to accept applications on June 8, 2020.  The program will award approximately $18.1 million in grants and low-interest loans through member institutions to organizations

VHFA joins VTTAR to fund recovery housing

Recently on Recovery Day at the Statehouse, the Vermont Alliance of Recovery Residences (VTARR) announced the establishment of Jenna’s Fund, which provides financial support for recovery housing for Vermonters overcoming substance use disorders.

Strength of VHFA bonds prompts Fitch to upgrade rating to AA+

Strong financial performance contributed to a rating upgrade from AA to AA+ for Vermont Housing Finance Agency (VHFA)'s multiple purpose bonds from Fitch Ratings last week. AA+ is the second highest possible rating from Fitch. The rating applies to all outstanding long-term debt under the multiple purpose program and should help lower the cost of affordable housing financing through VHFA.

AHP listening session on February 18

The Federal Home Loan Bank of Boston (FHLBB) is inviting the Vermont affordable housing community to attend an upcoming listening session for its Affordable Housing Program (AHP).

Vermont Housing Finance Agency completes successful sale of state tax credits

Vermont Housing Finance Agency (VHFA) worked with local financial institutions to fund affordable homes that will be sold to low- and moderate-income Vermonters. Passumpsic Bank, Mascoma Bank, Union Mutual Insurance, Community National Bank, and Union Bank invested in Vermont Affordable Housing Tax Credits available through VHFA.
 

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