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VHFA News

Posted by: admin on August 17, 2007 - 5:50am

BURLINGTON— Vermont Housing Finance Agency is pleased to announce its top mortgage loan originators for fiscal year 2007: Michelle Shambo, Chittenden Bank, Middlebury, Addison County; Wendy Chenaille, Bank of Bennington, Bennington, Bennington County; Cathy Clark, Northeast Home Loan/Passumpsic Bank, St. Johnsbury, Caledonia and Essex counties; Jeanne Boucher, New England Federal Credit Union, South Burlington, Chittenden and Grand Isle counties; Carol McKinney, New England Federal Credit Union, St. Albans, Franklin County; Wanda Allaire, Universal Mortgage Corp., Morrisville, Lamoille County; Wanda French, Universal Mortgage Corp., Barre, Orange County; Hope Colburn, Community National Bank, Barton, Orleans County; Laurie Laliberte, Chittenden Bank, Rutland, Rutland County; Lee Youngman, Vermont State Employees Credit Union, Berlin, Washington County; Cathy Eakins, Chittenden Bank, Brattleboro, Windham County; and Kathy Sarnes, Connecticut River Bank, Springfield, Windsor County. "We rely on loan originators at VHFA participating lenders to act as our mortgage sales force," explained VHFA Executive Director Sarah Carpenter. "We're pleased to have originators like these on our team." The Agency's top five lending institutions for 2007 are: New England Federal Credit Union, first; Chittenden Bank, second; Universal Mortgage Corp., third; Community National Bank, fourth; and Mortgage Financial Inc., fifth. VHFA has 38 participating lending institutions around the state that help homebuyers qualify for VHFA mortgage loans. VHFA has several home mortgage loan programs, all of which have income and purchase-price limits. A list of participating lenders and information about VHFA's programs and interest rates can be found on the Agency's Web site: www.vhfa.org. 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 nearly 7,000 affordable rental units.

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Posted by: admin on August 8, 2007 - 8:41am

BURLINGTON—Executive Director Sarah Carpenter announced that Ashley Lamell of Burlington has joined VHFA as Staff Accountant. Lamell is responsible for the Agency’s accounts payable and daily cash receipts functions. Lamell’s previous position was Tech Support Clerk/Technical Specialist, Cash Control, at Chittenden Services Group in Burlington. Before that, she worked several years as Office/Accounting Assistant at Central Supplies in Randolph. Lamell holds a B.S. in Accounting earned from Plymouth State University in Plymouth, N.H. She graduated summa cum laude earlier this year. 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 July 13, 2007 - 3:57am

BURLINGTON—Executive Director Sarah Carpenter announced that Clarence E. Davis of Burlington has joined VHFA as Development Officer. Davis analyzes prospective multifamily housing and single-family development loans being considered for VHFA financing. He’s responsible for underwriting of Housing Credit applications and assists VHFA’s Director of Development with the administration of the Housing Credit program. Davis spent a year as Director of Homeownership Programs at the Central Vermont Community Land Trust in Barre. Before that, he served four years as Vice President and Vermont State Manager of First American Title Insurance Co. in Burlington. He holds a Bachelor of Arts in Criminal Justice earned in 1995 from Norwich University in Northfield. He has served on the Board of Governors of the Vermont Mortgage Bankers Association; and was an associate member of the Vermont Bar Association and of the Home Builders and Remodelers Association of Northern New England. 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 July 10, 2007 - 3:01am

BURLINGTON, VT  First National Bank of Orwell 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 First National Bank of Orwell join the ranks of VHFA participating lenders,” said VHFA Executive Director Sarah Carpenter. “With nearly 40 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.” First National Bank of Orwell is located at 441 Main Street in Orwell. 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. 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 July 9, 2007 - 8:18am

BURLINGTON—Vermont Housing Finance Agency closed its books on the 2007 Fiscal Year with a record level of home mortgage loan purchases. The Agency purchased more than $134 million worth of home mortgage loans from July 1, 2006 to June 30, 2007. “This means more than 900 Vermonters and their families were able to purchase homes with VHFA mortgage products,” said Sarah Carpenter, VHFA Executive Director. “Our record year is the result of the deep commitment and hard work on the part of everyone at the Agency to helping Vermonters find safe, decent and affordable housing.” VHFA works through a network of 37 participating lenders, including banks, credit unions and mortgage companies, across Vermont. A list of participating lenders and other important consumer information, including interest rates and income and purchase-price guidelines, is available on the Agency website, www.vhfa.org. VHFA’s primary home mortgage product currently offers a 6 percent APR interest rate on a 30-year, fixed-rate loan with no points. The Agency also has products tailored to meet various consumers’ needs, including the Cash Assistance Rate Option, which offers help with downpayment and closing costs. Interest rates are subject to change, and other conditions apply. Prospective borrowers should contact their mortgage lenders for more details. Vermont Housing Finance Agency was created by the Vermont Legislature in 1974 to provide affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, VHFA has helped more than 25,000 households with affordable mortgages and financed the creation of nearly 7,000 affordable rental units.

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