Vermont extends grant program for first generation homebuyers
The state government has extended a grant program intended to help first generation homebuyers afford their new spaces.
Applicants can receive $15,000 grants under the program, which is administered by the Vermont Housing Finance Agency.
Eric Hoffman is the manager of business development for the agency's homeownership department.
He says the program requires homebuyers be first-timers, whose parents also never owned a home, "...or don't currently own a home because they lost it due to foreclosure or short sale or deed in lieu, basically an involuntary transfer of some kind," Hoffman says.
Hoffman says homebuyers can also qualify for the program if they were in foster care at any time in their life.
He says the idea is to help Vermonters who have been shut out of generational wealth.
Hoffman says there is no requirement that applicants identify as people of Color — but part of the legislative intent is to narrow the racial disparity in homeownership.
"Early data indicates that of the folks that, of the folks that have been using the program, 20% identify or have a person who identifies as BIPOC in the household," Hoffman says.
Those interested can find more information at Vermont Housing Finance Agency's website, vhfa.org.
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