In response to the Coronavirus pandemic, Vermont Housing Finance Agency (VHFA) announced today the award of $100,000 in grants to the state’s nonprofit housing providers and public housing agencies. Another $20,000 will be donated to Vermont-based 501(c)(3) nonprofit organizations selected by VHFA’s 38 staff members.
Housing resources during the COVID-19 outbreak
VHFA is aware that many homebuyers, current homeowners, and property owners may have questions and concerns about buying a home or paying their mortgage during the COVID-19 outbreak. To address these issues, VHFA has compiled a list of resources:
For homebuyers
VHFA staff will continue to be readily available to support lending partners and provide information to potential homebuyers. We do not expect disruption to daily operations or web access. Vermonters preparing to buy a home with VHFA financing should continue to work with their participating lender, who can best advise them on navigating the approval process during this time.
For homeowners
VHFA continues operations during COVID-19 outbreak
In the midst of the unprecedented outbreak of COVID-19, VHFA is committed to continuing to provide excellent service to its partners while also safeguarding the health of its staff and of the community. To that end, as of this week, VHFA will be limiting the number of staff in our office. The majority of VHFA staff will be working from home. Our staff responses may be slightly delayed due to the change in conditions, and we appreciate your patience as we adjust.
[Update: VHFA's office is closed to the public as of 3/24/20. The majority of VHFA staff continue to work from home]
Visit our website to see the latest news on our response.
Homeownership programs
LIHTC housing leads to higher incomes and educational attainment
New national research from the Congressional Joint Committee on Taxation finds that children who grow up in housing funded by the Low-Income Housing Tax Credit Program (LIHTC) program are more likely to enroll in higher education programs and have higher earnings as adults. The federal LIHTC program, which is administered in Vermont by VHFA, is the largest single source of funding for affordable rental housing development in the state.