Recent analysis of VHFA home loan data shows delinquency and foreclosure rates of VHFA mortgages were considerably lower than rates for Vermont and the nation.
As of June 30, 2010, VHFA home loans that were delinquent by 90 or more days were just 0.94% of all the Agency’s outstanding loans. Vermont’s rate was more than twice as high: 2.05%. The national rate was 4.54%.
The number of VHFA loans in the foreclosure process on June 30, 2010, was 1.37% of all VHFA loans, compared to Vermont’s overall foreclosure rate of 2.71% and the national rate of 4.57%.
“VHFA’s numbers are impressive, but not accidental,” according to Executive Director Sarah Carpenter. “We’re focused on responsible lending — solid underwriting combined with homebuyer education. No one wins when a buyer ends up with a house they can’t truly afford."