Home Repair Loans

Take Care of the Home You Have

Are you avoiding home repair projects due to cost? The Loan Fund at Champlain Housing Trust helps homeowners address critical health and safety issues through low cost loans, flexible terms, and matching grant funds. Projects can include new roofs, heating/hot water systems, electrical and plumbing updates, and replacement of major items such as wells and septic systems. CHT can also help with energy improvements and home accessibility modifications. Additionally, CHT will help you navigate the construction process and ensure your contractor is fully insured. Essential repairs can make your home safer, more comfortable, more attractive, and more affordable to heat.

Apply today to help protect your biggest asset!

CHT Loan Fund Staff can help you:

View Our Home Repair Loan Program Brochure

When you are interested in a Home Repair Loan from the Champlain Housing Trust, the first step is filling out an eligibility packet, and then CHT will do a site visit at your home. We will review the project that you would like to have completed and assess your home for other health and safety related issues. The source of the funding that we use for our loans requires us to repair ALL health and safety related issues. Once a scope of work is drafted for your project, you will get estimates from insured contractors to determine the total cost of the project. CHT offers a $2,500 grant toward eligible projects (see below). If the cost of your project exceeds $2,500 CHT will work with you to determine the best way to pay for the additional costs. That might be from your own funds or an affordable loan from CHT.

Basic Requirements for Owner-Occupied Home Loans:

  • You must own your home (single family home, condo, or mobile home) and live in it as your primary residence.
  • Your home must be located in Chittenden*, Franklin, or Grand Isle County (*Burlington properties are not eligible)
  • Loans are secured by a mortgage on your home, so you must have enough equity to secure a loan.
  • Your credit history and debt payments will also be considered.
  • Your gross household income (before taxes and deductions) must be less than 80% of AMI (see chart below).
  • The first $2,500 of your project cost associated with a loan will be a grant, and not need to be repaid

Basic Requirements for $2,500 Grant:

  • You must own your home (single family home, condo, or mobile home) and live in it as your primary residence.
  • Your home must be located in Chittenden*, Franklin, or Grand Isle County (*Burlington properties are not eligible)
  • Your gross household income (before taxes and deductions) must be less than 80% of AMI (see chart below).
  • Have proof that project cost will be $2,500 or less and no other health/safety issues need to be addressed.

Basic Requirements for Landlord Loans:

  • Property must be located in Chittenden, Franklin, or Grand Isle Counties (*Burlington properties not eligible). Rental units must be one of the following:
    • Owner Occupied dwelling up to four units
    • Single Family Rental
    • Duplex Rental
    • Accessory Apartment
  • Majority of tenant incomes must be at or below 80% of AMI (see chart below)
  • Landlord income, debts, and credit history will be considered.
  • Loan will be secured by a mortgage on the property.
  • HUD Fair Market Rents will apply.
 
 
Household SizeMaximum Income
1 person$53,700
2 person$61,400
3 person$69,050
4 person$76,700
5 person$82,850
6 person$89,000
7 person$95,150
8 person$101,250
If your income is close, please apply. Call for larger household size income eligibility.
*Burlington residents are not eligible.

Contact Us for More Information:

802-861-7388 or [email protected]