Homeownership

Vermont home prices reached new highs in 2018, continuing a four year trend of growth. However, household incomes have not kept pace, making it increasingly difficult for low and middle-income Vermonters to become homeowners.

VHFA is pleased to announce the 2018 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.

New England Federal Credit Union (NEFCU) President/CEO John J. Dwyer, Jr. announced today a $500,000 grant from NEFCU to Vermont Housing Finance Agency (VHFA) to address the area’s shortage of housing affordable to Vermonters with low and moderate incomes. The money will support construction and renovation costs for perpetually affordable homes in Bristol, Jericho and several other towns. 

This week Vermont Housing Finance Agency (VHFA) received national recognition for pioneering the use of state housing tax credits to provide down payment assistance to low- and moderate-income Vermonters.

A recent report from researchers at Ohio State University and Fannie Mae describes new evidence of ways to extend homeownership sustainably.  Lower income households seeking to purchase homes face many barriers including lack of wealth for down payment.  Further, “after purchasing a home, lower income homeowners are often at higher

The annual report on housing from the Joint Center for Housing Studies of Harvard University (JCHS) reveals that although homeownership rates are beginning to climb, young adults are finding it increasingly difficult to afford to buy their first home. The report found that from 1990 to 2016 the median home price rose 41 percent faster than overall inflation, outpacing wage growth during the same period.

VHFA had a great 2017!

If you own a home please join Champlain Housing Trust for this educational Homeowner University.  Learn how to maximize your biggest investment, your home.  Learn how to maintain, manage and protect your home and how to plan and pay for improvements.  Check out the schedule for the day and enroll today!

When?

Last week the Vermont House approved H. 922 which includes provisions from an earlier bill (H.766) that expands VHFA’s Down Payment Assistance Program. The bill is now passed over to the Senate and earlier this week was read and referred to the Senate Committee on Finance.

H.R. 766, the bill that includes an expansion of  VHFA’s Down Payment Assistance Program, was approved by the Vermont House Committee on Commerce and Economic Development last week.