Safe, secure, affordable housing is essential to creating a vibrant, thriving rural Vermont. That’s why VSECU has partnered with the US Department of Agriculture’s Rural Development division to offer a loan product aimed directly at rural homeowners and homebuyers.
Funds from a Single Family Home Loan Guarantee program can not only be used for purchasing your new home, but also for making energy efficiency upgrades like windows and insulation, closing costs, repairs and rehabilitation costs and more to that home. Most of Vermont is eligible (click here to see ineligible regions) and income requirements vary based on the region in which you live.
To qualify properties must be single family homes or condos/townhouses. Mobile homes also qualify if they are brand new and on a lot. No minimum credit score is required but any Bankruptcies or Foreclosures must be over 36 months old. Applicants may apply for up to 101% (if including fees) loan-to-value for acquisition loans and for refinance loans there is a 1% upfront fee and an annual fee of .35%. And this loan may be used for additional expenses such as installing fixed broadband internet, grading, foundation plantings, trees and more.
Fixed rates make your loan payments predictable and easy to manage from month-to-month.
You may purchase and install measures for efficiency upgrades like insulation & solar.
REPAIRS & REHAB
Perfect for repairs and rehabilitation when associated with the purchase of an existing home.
30 YEAR TERM
This mortgage features a 30 year fixed mortgage term to make your payments manageable.
|County||Income Limit for 1-4 People||Income Limit for 5-8 People|
|Chittenden, Grand Isle & Franklin Counties||$96,600||$127,500|
|Bennington, Caledonia, Essex, Orange, Orleans, Rutland & Windham Counties||$78,200||$103,200|
Burlington, South Burlington, Winooski, Essex Junction, southeast quadrant of Colchester. For more information from the USDA click here
|Fixed Mortgage Rate Tools|
|Current Fixed Rates||Click here for all current fixed rates and terms.|
|Rate Watch||Sign up for rate update e-mail notifications.|
You can apply online in our Mortgage Center for your mortgage or mortgage product. In most cases, qualified applicants receive instant pre-approval. In our Mortgage Center you’ll be able to read about our Mortgage Originators, access additional resources and view all our featured rates.