Butternut Grove Condominiums

• Attend CHT’s Shared Equity Program Informational Meeting. Click here to sign up for the meeting
• Complete a CHT Shared Equity Program Application and be deemed income and asset eligible. Click here to fill out the application online or download a pdf.
• Provide CHT a pre-approval for these homes from a local lender that works with CHT.
• Attend CHT’s Homebuyer Education Workshop, which includes a financial counseling appointment. Click here to sign up for the workshop.  We encourage you to complete Homebuyer Education as soon as you can, but it does NOT have to be completed before the buyer selection deadline.

To be eligible to purchase these homes, you must:

• Meet the income and asset eligibility for the Shared Equity Program. Click here for those details.
• Agree to the Shared Equity Program guidelines and resale restrictions including the home being your primary residence and sharing your home’s market appreciation when you are ready to sell. Click here for more information on the Shared Equity Program
• Attend CHT’s Shared Equity Program Informational Meeting. Click here to sign up for the meeting
• Attend CHT’s Homebuyer Education Workshop, which includes a financial counseling appointment. Click here to sign up for the workshop We encourage you to complete Homebuyer Education as soon as you can, but it does NOT have to be completed before the buyer selection deadline.
• Qualify for a conventional mortgage with a local lender that works with CHT.
• Be able to pay for closing costs ($8,000 to $10,000), at least $3,000 must be your personal savings.

The monthly homeowners association (HOA) fee covers snow removal, trash, recycling, master insurance, landscaping, exterior maintenance, property management fee, water and sewer usage fees.  The windows of the homes and exterior of the building are covered by the HOA.  Rowhouse owners will pay a slightly higher monthly fee, but the HOA will cover the repair and replacement of Rowhouse garage doors, and the roof decks.  The drafted documents for the HOA are available upon request.  They will be finalized before the first home is sold.

UPDATE April 20,2022: The first buyer eligible buyer to complete their information with CHT, will be able to reserve the remaining homes.

CHT will use a points based selection process for choosing buyers for these homes. To be included in the next buyer selection, you must complete the following by April 1, 2022:

1. Submit a complete application for the Shared Equity Program and meet the income and asset eligibility requirements.
2. Submit a pre-approval for the home from a lender that works with CHT.
3. Must have attended a Shared Equity Informational Meeting within the last year.

The criteria to earn points is similar to our usual selection process, but is a little more complicated.  Butternut Grove Condos would not be possible without the partnership between the City of Winooski and Champlain Housing Trust. Due to the overwhelming support of the City, CHT will be selecting buyers a little differently than our other homes. The Buyer Selection Process for these homes is designed in two tiers:

Tier One: The first tier will only include applicants that qualify for the homes and currently live in Winooski. We will select ten buyers from this tier, assuming more than ten applicants meet these requirements.
Tier Two: The second tier will include any applicants that were not in the top ten of Tier One, plus any other eligible applicants.

Download the Butternut Buyer Selection Process Document