Homeownership

Governor Scott announces a new grant program, the Homeowner Assistance Program (HAP), which will help Vermont homeowners facing pandemic hardships. The program will be managed through the Vermont Housing Finance Agency (VHFA) and is now accepting applications.

The median Vermont primary home sold for $259,900 during the first six months of 2021, compared to $245,000 throughout 2020, a six percent increase.

On Monday, the Vermont Housing Finance Agency (VHFA) Board of Commissioners awarded $425,000 in state housing tax credits for homeownership development projects. Once sold to investors, the credits will yield nearly $2 million in equity for construction. The projects will create new, high-quality homes affordable to low- and moderate-income Vermont homebuyers, which are virtually unavailable in Vermont’s in private housing market.

The Joint Center for Housing Studies of Harvard University recently released their annual State of the Nation's Housing report 

VHFA released a draft program description and income limits this week for the Homeowner Assistance Fund that will start in the next few months.

Due to limited funding, applications for the current round of Vermont COVID Emergency Mortgage Assistance must be submitted by 4:00 PM on Wednesday, June 30, 2021.

VHFA is gathering input and data regarding two components of the Homeowner Assistance Fund (HAF) slated to open later this year. HAF was created by the federal American Rescue Plan Act to provide relief for homeowners experiencing financial hardship after January 2020.

VHFA will be hosting two public meetings on June 1 and June 3 to discuss how to use federal American Rescue Plan Act funding to serve Vermont homeowners. The Homeowners Assistance Fund, created by the act, will provide Vermont up to $50 million over the next 3 years to provide assistance for mortgage payments and other expenses troubling homeowners with pandemic-related hardship.

The Vermont program that helps homeowners who have fallen behind on their mortgage or property taxes during the COVID-19 pandemic will re-open on Monday, May 3, 2021.  The Mortgage Assistance Program will provide grants covering up to 12 months of past due mortgage payments and property taxes for eligible homeowners.  

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.