Financing Programs

Besides traditional bank loans, there are a number of excellent programs for women, minorities, 1st time home buyers, veterans and more, that can help you finance your new home.  We can suggest loan originators who will discuss your options and find your best choice.  Some loans come with restrictive conditions or may limit your profit when selling, so it’s essential to have the originator explain terms carefully. Here is a partial list of some programs and their websites.

  • Vermont Housing Financing Agency or VHFA  is a great deal if you qualify for “income sensitive” or “1st time purchase” loans.
  • The Federal Housing Administration, sometimes called HUD, has changed some of its requirements.  Many programs have specific limitations for the home itself so ask your agent for any caveats.
  • USDA loans are another good avenue as all of Vermont is considered rural and qualifies for aid.  Visit the USDA site for business, farm, home or apartment loans.  They even have loans for energy systems – see Rural Energy for America on the site above.
  • Veterans usually know about VA loans.  Limits and guarantees can vary by county within the state.  See Vermont’s Veterans’ site for questions and to apply for a Certificate of Eligibility.
  • Vermont’s Commission on Women has an excellent website for resources for business ventures.  It includes other organizations besides loans as well.
  • Women should also consider taking advantage of the Vermont Women’s Business Center.
  • Vermont Economic and Development Authority or VEDA is another tremendous resource for both commercial and farm ventures.
  • Vermont Small Business Development Center is another outlet for resources associated with buying and running a business.   There is also specialized assistance within SBA (e.g. minorities and women).
  • SBA or the Small Business Administration has an excellent website, which explains its various programs.  Type in your zip code and the site will provide you with a list of  banks who use the SBA backed guarantee programs.

This partial list gives you an idea of the number of special programs to help finance a home, land or business.  Some of these websites have other ways to assist your planning, development, expansion or venture capital associated with your purchase or start up.  We can help you find a loan originator who can discuss your options to find the best program for you.  Make sure you compare terms and not just rates and fully understand the loan and any limitation.  The organizations listed here are a helpful place to start.