Finance

The Federal Home Loan Bank of Boston (FHLBB)'s 2021 Affordable Housing Program (AHP) will begin to accept applications on June 7. The program will award grants and low-interest loans through member institutions to organizations promoting homeownership and rental housing opportunities for low income households.

The Biden administration’s American Jobs Plan includes a program that would bring $8 million in housing tax credits each year for affordable homeownership in Vermont.

The Congressional omnibus spending bill, passed at the end of December, had several key housing provisions, including emergency rental assistance and an extension of the period to use federal CARES Act funds.

Vermont Finance Agency (VHFA) has worked with local financial institutions to fund affordable homes that will be sold to low- and moderate-income Vermonters. Passumpsic Bank, Union Mutual Insurance, Community National Bank, National Life, Northfield Savings Bank, and Union Bank invested in Vermont Affordable Housing Tax Credits available through VHFA.

November 6, 2020 will be the last day for Vermont homeowners behind on their mortgage payments due to COVID to submit applications for mortgage assistance grants.  Funded by the federal CARES Act, Vermont Mortgage Assistance grants for up to 6 months of missed payments are available to any homeowner who meets eligibility criteria, even if they have already arranged a forbearance agreement. 

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.

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.       

Vermont Housing Finance Agency (VHFA) is in the process of updating the Qualified Allocation Plan (QAP) for 2022 to 2023. The Agency sought initial public comment on the plan in February.

Vermont Housing Finance Agency (VHFA) is pleased to announce the launch of the VHFA Housing Investment Fund with Vermont Community Foundation (VCF) as its founding investor. This will be initiated with a VCF investment of $1.5 million for a pre-development program and a long-term loan program made to developers of affordable rental housing. VHFA is working to expand the fund with investments from other community partners to grow its impact.  

The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced on Monday the award of federal and state housing tax credits and loans to support the development, rehabilitation or preservation of 104 permanently affordable apartments in six communities across the state.