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Homeownership

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.

Vermont homebuyers can receive up to $2,000 in tax credits with VHFA

Great news!  A Mortgage Credit Certificate provides a mortgage interest tax credit benefit for homebuyers whether or not deductions are itemized. 

A Mortgage Credit Certificate is a federal tax credit for up to $2,000 and unlike a tax deduction, a Mortgage Credit Certificate reduces federal tax liability dollar for dollar for homebuyers.

 

How is a Mortgage Credit Certificate obtained?

Record Vermont home prices highlight affordability concerns

Vermont home prices reached new highs in 2018, continuing a four year trend of growth. However, household incomes have not kept pace, making it increasingly difficult for low and middle-income Vermonters to become homeowners.

2018 VHFA Single Family Homeownership Program Top Performers

VHFA is pleased to announce the 2018 Top Performers across the local Vermont banks, credit unions and mortgage companies who participate in the VHFA single family homeownership program.  VHFA's participating lenders are essential to meeting VHFA's mission to provide homeownership opportunities for low to moderate income Vermont households.

Please join VHFA in congratulating the following organizations and individuals who originated the highest VHFA mortgage loan production volume in 2018:

New England Federal Credit Union gives $500,000 for affordable homes in Northwest Vermont

New England Federal Credit Union (NEFCU) President/CEO John J. Dwyer, Jr. announced today a $500,000 grant from NEFCU to Vermont Housing Finance Agency (VHFA) to address the area’s shortage of housing affordable to Vermonters with low and moderate incomes. The money will support construction and renovation costs for perpetually affordable homes in Bristol, Jericho and several other towns. 

Vermont Housing Finance Agency wins national award for using state housing tax credits to help home buyers

This week Vermont Housing Finance Agency (VHFA) received national recognition for pioneering the use of state housing tax credits to provide down payment assistance to low- and moderate-income Vermonters. Since the Vermont Affordable Housing Tax Credit was originally created in 2000 to fund creating and preserving affordable apartments for low income renters, VHFA led the effort to expand it to help two more types of underserved Vermonters: first-time home buyers and buyers of energy-efficient manufactured homes.

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