"Location, location, location" has long been held as a primary factor in real estate sales. Turns out the same might be said for successful home loans.

New research from Ohio State University reveals low-income homeowners who get their mortgages from a local lender — within 10 miles of their new home — were less likely to default on their loan than borrowers who go with more distant lending institutions.

The rule seems to apply even when comparing identical loan products at the same interest rate.

“Local banks seem to offer some protection to homebuyers, particularly those with low incomes who may be seen as risky borrowers," according to Stephanie Moulton, Assistant Professor at the university's John Glenn School of Public Affairs.

Quick follow-up to yesterday's post about the Burlington City Council voting last night to add a question to the March ballot urging Vermont lawmakers to pass housing preservation legislation ("Support affordable housing at tonight’s Burlington City Council meeting").

The Council unanimously approved the measure.

The Vermont Affordable Housing Coalition (VAHC) is encouraging Burlington residents to attend tonight's Burlington City Council meeting and speak out in support of affording housing in Vermont.

The Council is considering adding a question to Burlington's March ballot urging Vermont lawmakers to protect 300 affordable housing units in the Queen City by passing preservation legislation.

According to VAHC, more than 2,500 affordable units are at risk statewide.

The Council's meeting is at 7 tonight, at City Hall, 149 Church St., Burlington. The public forum begins at 7:30.

The U.S. Department of Housing & Urban Development (HUD) has made a grant of nearly a quarter-million dollars to improve energy efficiency at Windsor Village.

The $243,500 grant will be used to improve the 77-unit housing development in Windsor.

Housing Vermont began work on the $5 million improvement project last month. It's expected to be completed in about a year.