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Homeownership

Housing resources during the COVID-19 outbreak

VHFA is aware that many homebuyers, current homeowners, and property owners may have questions and concerns about buying a home or paying their mortgage during the COVID-19 outbreak.  To address these issues, VHFA has compiled a list of resources:

For homebuyers

VHFA continues operations during COVID-19 outbreak

In the midst of the unprecedented outbreak of COVID-19, VHFA is committed to continuing to provide excellent service to its partners while also safeguarding the health of its staff and of the community. To that end, as of this week, VHFA will be limiting the number of staff in our office. The majority of VHFA staff will be working from home. Our staff responses may be slightly delayed due to the change in conditions, and we appreciate your patience as we adjust.

[Update: VHFA's office is closed to the public as of 3/24/20. The majority of VHFA staff continue to work from home]

By reducing rates to historic lows, VHFA expands homebuying opportunities statewide

This week marked VHFA’s offering of the lowest interest rates in the agency’s history for Vermont homebuyers. Rates as low as 3.0% became available on 30-year mortgages made through VHFA’s programs, available exclusively through its statewide network of participating lenders.

Vermont home sale prices increase by 6.5% in 2019

The median Vermont primary home sold for $229,000 in 2019, according to Property Transfer Tax records, a 6.5% increase from 2018. This is the largest single year increase in median home prices since before the Recession, and a substantial increase over recent years’ home price growth. Since 2014, Vermont median home prices have increased by an average of 2.7% per year.

Homeownership declines among young Vermonters

This commentary by VHFA Executive Director Maura Collins appeared recently in VTDigger

Vermont home prices continue to increase in 2019

Vermont home prices continued to climb in the first six months of 2019, based on the latest data from Vermont Property Transfer tax records. The median home sold for $219,500, a roughly 2% increase from 2018.

Sale prices increased for every home type in Vermont during the last six months. The median single family home sold for $226,500, the median condominium sold for $209,950, and the median mobile home with land sold for $80,000.

Housing recovery leaves black households behind

The economic recovery is being felt among many households, with home equity wealth rising and more Millennials becoming homeowners. However, gains in homeownership have not been equally distributed among all Americans.

VHFA is hiring!

Vermont Housing Finance Agency (VHFA) is seeking a Manager of Business Development for its Homeownership programs. This position is responsible for developing, implementing and promoting Homeownership loan programs and services, working closely with our network of participating lenders, real estate professionals, home building organizations, housing non-profits, consumers, and other state housing partners. 

Governor approves down payment assistance increase

Last week, the state increased funding for affordable homeownership when Governor Phil Scott signed a bill passed by the Legislature which will add over a million dollars for homeowners in Vermont.

Survey highlights concerns over housing affordability among young professionals

The annual Burlington Young Professionals (BYP) survey conducted by the Lake Champlain Regional Chamber of Commerce reveals that 33 percent of young adults surveyed plan to move out of the area within the next four years. Among the most common challenges cited were the high cost of living, lack of job growth opportunities, and a lack of affordable housing.

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