Vermont Housing Assistance Agency Wants To Extend Program
A Vermont agency that helps people that are purchasing homes with their down payment is seeking to extend its program.
Vermont Housing Finance Agency Executive Director Sarah Carpenter says the agency has closed about 60 loans and will likely exceed 110 by the end of June.
The program has been funded by the Legislature for three years. Carpenter tells Vermont Public Radio she'd like additional funding to continue the program for five years so it can become a revolving loan fund.
People buying homes for the first time can get up to $5,000 in down payment assistance. The zero-interest loan is paid back when the home is sold or the mortgage is refinanced.
She says the agency is trying to be in sync with the average five-to-seven-year life of a loan.
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