We believe that a safe, affordable home is the cornerstone of any family's ability to become economically stable, achieve self-sufficiency and build wealth for the future.

We provide financing for projects that build or rehabilitate homes for lower-income Vermonters or other vulnerable populations. Ranging in size from one home to 100, our projects include single- and multi-family homes. Whenever possible, we partner with traditional lenders, philanthropic organizations and other community resources to make the deal happen.

We provide financing for projects that build or rehabilitate homes for lower-income Vermonters or other vulnerable populations. Ranging in size from one home to 100, our projects include single- and multi-family homes. Whenever possible, we partner with traditional lenders, philanthropic organizations and other community resources to make the deal happen.

BASIC ELIGIBILITY

Vermont nonprofits, for-profit organizations and individuals who:

  • Create or preserve affordable housing
  • Benefit Vermonters earning less than 80% of the median income
  • Are unable to obtain credit at reasonable rates and terms

ACCEPTABLE USES

  • Real estate acquisition
  • Construction
  • Rehabilitation
  • Predevelopment
  • Land Banking
  • Bridge financing

RATES AND TERMS

  • Current rates start at 4.75% and vary according to project focus & duration, potential for social impact and strength of your proposal.
  • Terms range from a few months up to 5 years, with extensions generally permitted for another 3 to 5 years. Amortization may be scheduled for up to 25 years.
  • There is an application fee of 0.5% of the total loan amount or $350, whichever is greater. There is an origination fee of 1% of the total loan amount due at closing; the application fee is credited towards this closing fee.

COLLATERAL

Collateral is required on financed assets. Additional collateral may also be required.

MAXIMUM LOAN AMOUNT

The current maximum loan amount will not exceed $1 million.

HOW TO APPLY

We encourage you to speak with us before submitting a loan application. Please contact Barbara Petrie, Loan Coordinator, at (802) 223-4425 for more information.

BASIC ELIGIBILITY

Vermont nonprofits, for-profit organizations and individuals who:

  • Create or preserve affordable housing
  • Benefit Vermonters earning less than 80% of the median income
  • Are unable to obtain credit at reasonable rates and terms

ACCEPTABLE USES

  • Real estate acquisition
  • Construction
  • Rehabilitation
  • Predevelopment
  • Land Banking
  • Bridge financing

RATES AND TERMS

  • Current rates start at 4.75% and vary according to project focus & duration, potential for social impact and strength of your proposal.
  • Terms range from a few months up to 5 years, with extensions generally permitted for another 3 to 5 years. Amortization may be scheduled for up to 25 years.
  • There is an application fee of 0.5% of the total loan amount or $350, whichever is greater. There is an origination fee of 1% of the total loan amount due at closing; the application fee is credited towards this closing fee.

COLLATERAL

Collateral is required on financed assets. Additional collateral may also be required.

MAXIMUM LOAN AMOUNT

The current maximum loan amount will not exceed $1 million.

HOW TO APPLY

We encourage you to speak with us before submitting a loan application. Please contact Barbara Petrie, Loan Coordinator, at (802) 223-4425 for more information.

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Rural Edge/Hilltop Family Housing, St. Johnsbury

Nonprofit developer Rural Edge approached the Loan Fund to help finance construction and redevelopment of Hilltop Family Housing - four multi-family properties in St. Johnsbury, providing 24 affordable rentals, four of which are handicap-accessible.

http://www.ruraledge.org/

Rural Edge/Hilltop Family Housing, St. Johnsbury

Nonprofit developer Rural Edge approached the Loan Fund to help finance construction and redevelopment of Hilltop Family Housing - four multi-family properties in St. Johnsbury, providing 24 affordable rentals, four of which are handicap-accessible.

http://www.ruraledge.org/

Champlain Housing Trust/Bright Street, Burlington

Nonprofit developer Champlain Housing Trust used Loan Fund financing to purchase a property adjacent to another CHT owned site; together, the two sites were redeveloped to create affordable and market-rate apartments, a significant neighborhood improvement.

http://www.getahome.org/

Lamoille Housing Partnership/Stowe Community Housing, Stowe

The Loan Fund provided financing to the Lamoille Housing Trust for the purchase of the 10-acre lot where this 42 unit affordable housing site was constructed.

https://www.lamoillehousing.org/

Champlain Housing Trust/Bright Street, Burlington

Nonprofit developer Champlain Housing Trust used Loan Fund financing to purchase a property adjacent to another CHT owned site; together, the two sites were redeveloped to create affordable and market-rate apartments, a significant neighborhood improvement.

http://www.getahome.org/