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.

Meetings will be held via Zoom on Tuesday, June 1, 2021, at noon and Thursday, June 3, 2021, at 5 PM (meeting hyperlinks and call-in phone numbers below).  VHFA will use community input from these meetings to help design programs targeted to homeowners with incomes at or below the area median and to socially disadvantaged homeowners.  

Executive Director Maura Collins announced that Vermont Housing Finance Agency (VHFA) has selected Abigail Colbeth (she/her) of Williston and Michael Plunkett (he/him) of Fairfax to join its Mortgage Assistance Program (MAP) team. 

VHFA’s Mortgage Assistance Program uses federal CARES Act funding to provide grants covering up to 12 months of past due mortgage payments and property taxes for eligible Vermont homeowners impacted by the pandemic. Since re-opening for a second round on May 3^rd, the program has already received over 230 applications.  

The Federal Home Loan Bank of Boston (FHLBB)'s 2021 Affordable Housing Program (AHP) will begin to accept applications on June 7. The program will award grants and low-interest loans through member institutions to organizations promoting homeownership and rental housing opportunities for low income households. The Affordable Housing Program has led to the production or renovation of nearly 35,000 affordable homes since 1990. 

By 2030, the Upper Valley region will need to triple the pace of home building and conversions to meet projected demand from existing and future residents, according to the collaborative Keys to the Valley initiative. About one-third of the region’s households are cost burdened by paying more than 30% of their income for their housing. With the region’s aging population and declining average household size, these trends suggest a path forward that preserves existing homes, encourages new homes, improves housing affordability and fosters diverse, smaller housing types.