Governor Peter Shumlin will join VHFA, as well as legislative and business leaders, to announce the launch of VHFA’s down payment assistance program. Passed by the legislature as a part of the economic development bill, the state increased its existing Vermont Housing Tax Credit program to allow VHFA to sell tax credits to an investor to raise funds to create the program. Available to eligible borrowers who qualify for a VHFA loan, the maximum $5,000 assistance will act as an interest-free second mortgage, repayable only when the home sells or the loan is refinanced.
Press packet (background):
- How the VT Housing Tax Credit funds VHFA's Down Payment Assistance
- Background paper on the need for down payment assistance in Vermont
- Vermont's housing profile
- VHFA 2014 Annual Report