VHFA LOWERS HOME MORTGAGE LOAN INTEREST RATES

BURLINGTON— Vermont Housing Finance Agency (VHFA) has good news for prospective homebuyers — a lower mortgage interest rate. VHFA has lowered the rate on a 30-year, no points, fixed rate loan to 5.65 percent. The new rate became effective Feb. 12. “We’re always looking for opportunities to lower our rates whenever market conditions allow,” explained VHFA Executive Director Sarah Carpenter. “Even minor adjustments in our rate make a big difference in the amount of home a borrower can purchase in Vermont’s tight housing market.” The Agency’s previous 30-year, no points fixed interest rate was 5.75 percent. “VHFA is always looking for ways to help Vermont homebuyers,” Carpenter added, “whether through lower rates, or our ongoing support of the NeighborWorks® HomeOwnership Centers of Vermont.” VHFA offers a variety of mortgage loan products to qualified buyers, with different interest rates. (See rates table on our Web site: www.vhfa.org) Rates are subject to change. Income and purchase price limits apply. Prospective borrowers should contact their local lenders for more details. A list of lenders that offer VHFA’s products is also available on the Agency’s Web site. VHFA was created by the Vermont Legislature in 1974 to finance and promote the development of affordable housing opportunities for low- and moderate-income Vermonters. Since it’s inception, VHFA has helped more than 25,000 households with affordable mortgages and financed the creation of nearly 7,000 affordable rental units. More information about VHFA and its programs is available on the Agency Web site, www.vhfa.org