More Vermonters will be able to purchase homes using Vermont Housing Finance Agency’s mortgage programs thanks to newly increased income and purchase price limits put in place on November 1, 2013.’
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‘VHFA is focused on helping low-’ and-moderate income home buyers purchase affordable homes, and we are constantly reassessing how we can best serve that market in Vermont’ explained Executive Director Sarah Carpenter. ‘The new limits expand the number of Vermonters and Vermont homes that are eligible for VHFA financing, creating opportunities for more individuals and families who want to take advantage of historically low interest rates to become homeowners,’ Carpenter added.
Income and purchase price limits vary by county and help determine which homebuyers and properties are eligible for VHFA financing. Income limits are ceilings on household earnings for VHFA program eligibility.’ Purchase price limits are the maximum price of a home eligible for VHFA financing.
Current income and purchase price limits are available on VHFA’s website at’ www.vhfa.org, or by contacting a participating VHFA lender. A complete list of lenders is also available on the web site.
The Vermont Legislature created VHFA in 1974 to finance and promote affordable housing opportunities for low- and moderate-income Vermonters. Since its inception, the Agency has helped approximately 27,000 Vermont households with affordable mortgages and financed the development of approximately 8,400 affordable rental units.
VHFA 11.6.2013