Two loans from the Champlain Housing Trust exist to help homeowners or homebuyers move into or convert to energy efficient homes. These loans are only applicable to primary residences, but can be located anywhere in Vermont.
Applicants are required to undergo homebuyer education and counseling before they will be approved, and they must have enough equity in the property to secure the loan. Houses used to secure the loan cannot be found in a FEMA Special Flood Hazard Area.
Applicants will be examined for their credit worthiness and debt history. In the event that an applicant has more than $60,000 in liquid assists, further examination may be required.
Applicants also have to fall within defined income limits, which depend on location and household size.
The first loan offered is for Energy Star Rated Manufactured Homes and is in the amount of $27,500. This loan is meant to help the borrower either buy a new Energy Star Rated Manufactured Home or replace an old manufactured home with a new Energy Star Rated one. The property can be either owned land or in a mobile house park. Applicants must be able to put forth a minimum of $2,500 towards the transaction from their own funds. This loan will require an inspection of the home installation.
The second type of loan is for Vermod High Performance Homes and is for an amount of $35,000. Like the other loan type, applicants must be able to put forth no less than $2,500. This loan is meant for Zero Energy Modular (ZEM) homes, which can be either in a mobile house park or on owned land.
Other programs in Vermont: