fbpx

Manufactured Housing Down Payment Loan Program

Vermont

Available Assistance

If borrowers choose to replace an old manufactured home with a new Energy Star Rated model, the loan amount is $27,500, and $35,000 if they purchase a Vermont High Performance Home (eligible in mobile park settings only). In both cases, all borrowers must qualify for a first mortgage, and be able to contribute at least $2,500 to the transaction from their own savings.Borrowers do not need make any monthly payments on the MHDP Loan unless they decide to sell or transfer their home. The loan can even be assumed by the new owners of the home, as long as they are income-eligible and meet underwriting guidelines. Even when it is repaid, there is no interest charged on the loan.

Eligibility Requirements

There are certain requirements that all borrowers must meet if they wish to apply for the MHDP Loan Program. All applicants must have household incomes that fall under 120 percent of HUD’s Area Median Income (AMI). Their credit history and debt obligations will be considered in the application process. Additionally, applicants are required to complete a Homebuyer Education and Counseling course at a NeighborWorks HomeOwnership Center at one of the locations in Vermont.

Property Guidelines

Purchased homes can be located in any county within the state of Vermont, but cannot be secured in FEMA Special Flood Hazzard Areas. They must serve as the borrower’s primary residence and fall under the purchase price limit. All these homes must be permanently installed according to HUD and FEMA standards (when applicable), which include removal of wheels, hitch, and foundation requirements. A home inspection will be required to verify that the installation meets these standards, with costs covered by the borrower.

50015009503050315032503350345035503650375038503950405041504250435045504650475048504950505051505250535054505550565058505950605061506250655067506850695070507150725073507450755076507750795081508350845085508650885089509151015141514251435146514851495150515151525153515451555156515851595161520152505251525252535254525552575260526152625301530253035304534053415342534353445345534653505351535253535354535553565357535853595360536153625363540154025403540454055406540754085439544054415442544354445445544654475448544954505451545254535454545554565457545854595460546154625463546454655466546854695470547154725473547454765477547854795481548254835485548654875488548954905491549254945495560156025603560456095620563356405641564756485649565056515652565356545655565656575658566056615662566356645665566656675669567056715672567356745675567656775678567956805681568257015702573057315732573357345735573657375738573957405741574257435744574557465747574857505751575357575758575957605761576257635764576557665767576857695770577257735774577557765777577858195820582158225823582458255826582758285829583058325833583658375838583958405841584258435845584658475848584958505851585358555857585858595860586158625863586658675868587158725873587458755901590259035904590559065907

0%
You Are Almost There! Thanks For The Support 😄

Get Pre-Approved Today With A Lender That will WORK FOR YOU!

0%
You Are Almost There! Thanks For The Support 😄

Get Your FREE Credit Score!

Confirm your credit scores to get your grant results, absolutely free and no effect on your credit.

0%
You Are Almost There! Thanks For The Support 😄

Get financial support for you and your family!

Be sure to take advantage of exclusive resources and benefits for you and your family below!

0%
You Are Almost There! Thanks For The Support 😄

See your state housing grant programs!

There is plenty of money available to help pay for rent, bills, and utilities.

0%
You Are Almost There! Thanks For The Support 😄

Find Business and Education Grants!

There are plenty of govt grants to pay for a new business or education.

0%
You Are Done! Thanks For The Support 😄

Here are your Results!

Learn more about your state’s grant programs or go back to take advantage of today’s offers and benefits! Also be sure to check your email daily for our exclusive money hacks and newsletter updates.