Vermont Housing Finance Agency – Burlington, VT

About the Vermont Housing Finance Agency

The Vermont Housing Finance Agency (VHFA) is a unique quasi-public entity located at 164 St. Paul Street in downtown Burlington. Created by the Vermont Legislature in 1974, its mission is to finance and promote affordable, safe, and decent housing opportunities for low- and moderate-income Vermonters. While it operates with a public purpose, it is structured as a non-profit agency that funds its operations primarily through the issuance of bonds rather than tax dollars.

Homeownership Programs

VHFA is best known for helping first-time homebuyers. It does not lend directly to individuals; instead, it works through a network of participating lenders (banks and credit unions) to offer:

• Low-Interest Mortgages: Competitive rates for eligible buyers.
• Down Payment Assistance: Programs to help cover the upfront costs of purchasing a home, which is often the biggest hurdle for new buyers.
• Tax Credits: Mortgage Credit Certificates that reduce federal income tax liability for homeowners.

Rental Housing and Development

Beyond individual homeownership, VHFA plays a critical role in the state’s rental market. The agency provides development financing and tax credits to developers who build or rehabilitate affordable rental housing. They also monitor these properties to ensure they remain compliant with affordability requirements, ensuring long-term housing stability for Vermont communities.

Visiting the Agency

The VHFA office is located in a professional building on St. Paul Street, just a few blocks from the Church Street Marketplace. The office is generally open during standard business hours, but as an administrative hub, most interactions for the public (like applying for a mortgage) start with a local lender rather than a visit to this office. Developers and partners often visit by appointment.