Vermont Community Loan Fund believes that a safe, affordable home is the cornerstone of any family's ability to become economically stable, achieve self-sufficiency and build wealth for the future so their Affordable Housing Loan Program provides financing for projects that are building or rehabilitating homes for lower-income Vermont residents or other vulnerable populations. This loan program can be used for single- and multi-family homes (up to 100 units).

Vermont nonprofits, for-profit organizations, and individuals may qualify for this loan if their housing project 1) creates or preserves affordable housing and 2) benefits Vermont residents with low incomes, AND 3) the borrower is unable to obtain credit at reasonable rates and terms.

• Maximum Loan Amount: $2,000,000
• Interest Rates: 6.5% (4.75% for permanently affordable housing projects)
• Collateral is required
• Term Length: several months to 5 years (extensions generally permitted for an additional 3-5 years)
• Applicaion Fee: 0.5% of total loan amount or $350 (whichever is greater)
• Closing Costs: 1% of total loan

Funds can be used for: real estate acquisition, construction, rehabilitation, predevelopment, land banking, and bridge financing. 

*Vermont Community Loan Fund recommends that you reach out to consult with their lending team before submitting an application.