HOME Program
The Board administers the federal HOME Investment Partnership Program for the State of Vermont through a contract with the Agency of Commerce and Community Development. These funds are used to serve low- and very low-income Vermonters in housing projects meeting the criteria of the state's Consolidated Plan for housing programs. The HOME funds help to cover project development costs, create greater affordability in the projects, and supplement VHCB funds. VHCB has awarded more than $44.8 million in HOME funds since the program began in 1992. The same application, application deadlines and Board meeting dates used for VHCB Housing Funds apply to applications for HOME Funds. Applicants should contact the VHCB office. For more information, see the HOME Program Handbook.

Transitional Housing
The Transitional Housing fund was established in 2004 for the development of transitional housing for households who were previously homeless or who are otherwise in need of short term housing with accompanying support services.  The goal of the fund is to expedite the funding process to provide a timely response to urgent needs. 

Applicants for Transitional Housing funds use the standard VHCB Housing Application, but applications are accepted on a rolling basis (they are not subject to the application schedule due dates and are reviewed and approved by staff; they are not individually approved by the board.). Site visits are required prior to submitting the application. Please call staff to discuss the proposed project and schedule a site visit.

Transitional Housing Information for Potential Applicants
Transitional Housing Feasibiliy Guidelines

HOMEOWNERSHIP PROGRAMS

Homeland
The HOMELAND Program provides purchase subsidies and assistance with down payment and closing costs and rehabilitation loans to make home ownership more affordable for Vermonters. Applicants for HOMELAND funds are pre-qualified to purchase a home within a given price range based on their income. Depending on income level, need, and other factors, homeowners may receive grants (generally 20% of the purchase price, up to $40,000) towards the purchase price of a home. In addition to the HOMELAND grant, buyers obtain mortgage loan financing and contribute their own cash resources (at least $1,500) towards the purchase price of the home. Low-interest mortgage loan financing from the Vermont Housing Finance Agency is available through private banks statewide and is frequently used with HOMELAND funds. USDA Rural Development also sponsors low-interest mortgage financing programs.

Homeland grant funds are administered by nonprofits to subsidize the cost of single family homes, increasing affordability and guaranteeing perpetual affordability upon resale. Appreciation is limited by an agreement between the nonprofit and the homeowner. In return, the purchase price of the home is reduced by the amount of the grant.

Successful completion of a one-day home purchase education program at one of five NeighborWorks HomeOwnership Centers around the state is a requirement for each buyer receiving HOMELAND funds. The HomeOwnership Centers are located in Burlington, St. Albans, Springfield, West Rutland, Lyndonville and Barre.

To apply: Contact a participating nonprofit housing organization and ask for details on the HOMELAND program and the Single Family Assistance Program.

Single Family Assistance Program
Participating nonprofit housing organizations administer VHCB funds to home buyers with grants of up to $7,500 per home to assist with rehabilitation loans (for existing restricted homes) and closing cost assistance (up to $4,000). To apply: Contact the local nonprofit housing organization and ask for details on the HOMELAND program. list Participating housing organizations

Habitat for Humanity and Vocational Education-Built Homes
VHCB makes grants for home building projects undertaken by Habitat for Humanity or Vocational Education programs around the state. The 70 projects funded to date have helped either to pay for land or to lower the costs of construction. The resulting savings have been passed on to first-time home buyers. To apply: Nonprofit applicants should review Guidelines on Habitat for Humanity or Vocational Education-Built Homes. Download the application (MicrosoftWord version) or Adobe Acrobat (pdf) version. Applications are reviewed by VHCB staff on an ongoing basis. Statewide Habitat for Humanity Chapters

MOBILE HOME PARKS
VHCB funds the acquisition of mobile home parks. Use the Common Application; site visits are required prior to submitting the application.

Purchase Subsidy Program
VHCB funds are awarded to assist low-income households to purchase mobile homes in nonprofit-owned mobile home parks. Funds are provided for down payment assistance and to prevent foreclosure. This program enables upgrading and replacement of deteriorated homes. The program is administered by the Vermont Community Loan Fund (802-223-1448; Vermont Community Loan Fund)

Housing Development Consistent with the VHCB Mission
The renovation of historic buildings helps to reinforce Vermont’s traditional settlement pattern, keeping economic activity in town centers and downtown areas, further supporting the mission of the Housing and Conservation Board to "maintain for the benefit of future generations the essential characteristics of the Vermont countryside." The Board has supported the conversion of stately older homes to multi-unit housing and the preservation of outstanding historic structures for public educational uses. The Board has also funded the adaptive reuse of buildings such as vacant schools or commercial buildings converted into affordable housing. Because VHCB’s mission encompasses historic preservation, grantees are encouraged or required to undertake rehabilitation consistent with the Secretary of the Interior's Standards for Rehabilitation. VHCB sponsors trainings and provides technical assistance to educate Vermont's affordable housing community regarding rehabilitation techniques and materials consistent with these historic preservation standards.

Housing Articles

HOUSING LINKS

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or call 802-828-3250, or write: VHCB, 58 East State Street, Montpelier, VT 05602

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