VHFA lowers home mortgage loan interest rates and introduces new homeownership income, purchase pric
Source: The VHFA, Housing Matters Blog, 6/29/11 VHFA lowers home mortgage loan interest rates Government program — 30-year, 0 point, fixed rate — is 4.75% (4.75% APR). Conventional program — 30-year, 0.25 point, fixed rate — is 4.875% (4.9% APR). Read about VHFA’s home loan programs online. If you’re unsure which program might be right for you, there is a quick online quiz you can take to help. New homeownership income, purchase price limits Last Friday, VHFA adjusted their home loan income and purchase price limits. Now, more Vermonters will be able to purchase homes using VHFA’s low-interest mortgages. Income and purchase price limits vary by county and help determine which homebuyers and properties are eligible for VHFA financing. Income limits are ceilings on what households can earn and still qualify for VHFA mortgages; purchase price limits are the maximum price a home can sell for and still be eligible for VHFA financing. Read more in this press release (PDF) and view all the new limits online.