VHFA ANNOUNCES NEW HOMEOWNERSHIP INCOME AND PURCHASE PRICE LIMITS

More Vermonters now able to take part in Agency’s low-interest home mortgage programs

BURLINGTON, VA – June 30, 2011 – (RealEstateRama) — More Vermonters will be able to purchase homes using Vermont Housing Finance Agency’s low-interest mortgages thanks to new income and purchase price limits put in place last Friday.

“VHFA is always working hard to respond to Vermont’s housing market, which can be a moving target,” explained Executive Director Sarah Carpenter. “The new limits mean more Vermonters and Vermont properties have become eligible for VHFA financing, which we hope will help encourage first-time buyers who realize that now may be a great time to buy.”

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 what households can earn and still qualify for VHFA mortgages; purchase price limits are the maximum price a home can sell for and still be eligible for VHFA financing.

Current limits are available at www.vhfa.org, or by contacting a participating VHFA lender. A complete list of lenders is available at the web site.

VHFA is a self-sustaining, non-profit agency created in 1974 by the Vermont Legislature 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.

Contact:
CRAIG BAILEY
(802) 652-3463
cbailey (at) vhfa (dot) org

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