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VHFA News

Posted by: Mia Watson on January 19, 2018 - 2:24pm

Executive Director Sarah Carpenter announced that Vermont Housing Finance Agency (VHFA) has hired Sarah Woodward of Barre for the position of Development Underwriter. Woodward comes to VHFA from Aeon in Minneapolis, Minnesota where she worked as a site manager and compliance technician for affordable housing developments. Sarah is a graduate of the University of Vermont who previously worked for the Champlain Valley Office of Economic Opportunity on mobile home parks and other housing issues.  

“Sarah’s experience in managing affordable housing projects will be a valuable addition to the Agency’s development staff”, Carpenter remarked. Woodward will work with the Development Department to oversee the allocation of housing tax credits and VHFA loans to developers building and renovating rental housing projects.  

VHFA is a non-profit agency created in 1974 by the Vermont Legislature to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the Agency has helped approximately 29,000 Vermont households with affordable mortgages and financed the development of approximately 8,800 affordable rental apartments.

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Posted by: Mia Watson on January 18, 2018 - 4:33pm

The American Red Cross will be hosting an open house in Swanton on Friday, January 19th from 9:00 AM to 5:00 PM and Saturday, January 20th from 9:00 AM to 1:00 PM for residents affected by the recent flooding. The events will share resources from a variety of agencies and non-profit organizations to help area residents recover and rebuild. Trained specialists will be on hand to offer personalized assistance.

The events will be held at the Swanton Village Municipal complex at 120 First Street. For questions please contact 802-868-3397. 

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Posted by: Mia Watson on January 12, 2018 - 12:07pm

New England Resident Service Coordinators Inc. is calling for nominations for its annual Excellence in Service Award. The award recognizes outstanding performance among Resident Service Coordinators, housing management companies, and others working in the field of housing services in New England.

To nominate an individual or an organization that is making a difference for residents in housing communities or advancing the resident service profession as a whole, send a completed nomination form to Andrea Dobras.

Nominations must be received by March 15, 2018

Posted by: Heather Kvasnak on January 4, 2018 - 10:13am

VHFA is pleased to announce the 2017 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 2017:

The VHFA single family homeownership program is offered through a network of local lenders.  Consumers apply for a VHFA mortgage program directly with those lenders.  VHFA celebrates all of our participating lenders who share VHFA's commitment to helping low to moderate income Vermont households achieve homeownership.  For a complete list of VHFA participating lenders please access http://www.vhfa.org/homebuyers/lenders.

 

 

Posted by: Mia Watson on January 2, 2018 - 4:03pm

The recent annual report on rental housing from Harvard University's Joint Center for Housing Studies (JCHS) has found that although the national demand for rental housing has decreased slightly overall, there is still significant need for housing affordable to low-income renters.

The number of U.S. rental households grew dramatically over the last decade, due in large part to the effects of the housing crash. Although the construction of rental housing increased during this time, the majority of new stock has been targeted towards high-income households, with fewer new affordable options for an increasing number of low-income renters. The report found that 11.0 million renter households are severely cost-burdened, paying more than 50% of their income towards housing costs. In Vermont, about 17,800 rental households (25% of renters) are severely cost-burdened, according to data from the U.S. Census Bureau.

The growth rate of renter households has slowed in 2016 and 2017. While this is a welcome sign that more households are now able to pursue homeownership, the Joint Center for Housing Studies predicts that renter households will account for roughly one third of future household growth. They write that the “new normal” is that almost half of renter households will continue to be cost-burdened.

The report noted the need for an increase in subsidies for lower-income households and emphasized the importance of programs like the Low Income Housing Tax Credit in stimulating development of affordable rental housing.

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