Homeownership

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.

Despite the impact of the coronavirus pandemic, Vermont home prices continued to climb in the first six months of 2020, based on the latest data from Vermont Property Transfer tax records. The median home sold for $234,940, a roughly 3% increase from 2019.

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.       

Champlain Valley Office of Economic Opportunity (CVOEO)'s Fair Housing Project will host a free, hour-long webinar on Friday, July 31 at 12:30 p.m.

Vermont Housing Finance Agency (VHFA) has announced an expansion of the Vermont Mortgage Assistance Program in order to assist more Vermont homeowners who have fallen behind on their mortgage and are facing economic hardship brought on by the COVID-19 pandemic.

Vermont Legal Aid will host a free, 30-minute virtual town hall on Thursday, July 23 at 10 a.m. It will discuss the new financial help homeowners affected by COVID-19 can receive through the Vermont Mortgage Assistance Program as well as other programs for homeowners who may be facing foreclosure.

Vermont’s new Mortgage Assistance Program was announced today to help low-income homeowners who have fallen behind on their mortgage and are facing economic hardship brought on by the COVID-19 pandemic. The program will provide up to three monthly mortgage payments directly to the servicer of the mortgage with a goal of preventing future foreclosure.

This article previously appeared as sponsored content on VTDigger. VHFA is proud to underwrite VTDigger’s independent journalism. 

Homebuyers - especially first-time homebuyers - usually have questions about where to start and where to find special programs. To answer these and other questions, VHFA is hosting a one-hour webinar to explain how VHFA programs can help eligible homebuyers. Topics will include:

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