Manufactured Housing Down Payment Loan – Champlain Housing Trust

Do you own an old, drafty mobile home and want to replace it with a new, Energy Star Rated model? Or are you interested in purchasing a new Energy Star Rated manufactured home, but can’t quite afford the down payment? This program may be able to help. Our down payment assistance loans are designed to be a “silent second” to a first mortgage. The loans are offered at 0.00% interest, and all payments are deferred until the property is sold, transferred, or refinanced. The loans are assumable, which will allow the next buyer of the home to take advantage of this loan if they meet the program qualifications.

To Start the Application Process:

Complete Homebuyer Education and Counseling at your NeighborWorks Homeownership Center
Submit an Interest Form or Submit online

Loan Eligibility Requirements

Loans can be used in any Vermont county. Home must already serve as, or will be, the borrower’s primary residence
Applicants must complete Homebuyer Education and Counseling at your Local NeighborWorks HomeOwnership Center (5+ locations in VT)
The loan is secured by a mortgage deed, so there must be enough equity in the property to secure the loan amount
The home cannot be located in a FEMA Special Flood Hazard Area
Credit history and debt obligations will be considered. Liquid assets exceeding $60,000 will be subject to further analysis.
The gross household income (before taxes and deductions) must be less than the following:

Area	Household Size & Income
	1 person	2 persons	3 persons	4 persons	5 persons	6 persons	7 persons	8 persons
Burlington/South Burlington MSA	90,240	103,080	115,920	128,760	139,080	149,400	159,720	170,040
Addison County	78,720	89,880	101,160	112,320	121,320	130,320	139,320	148,320
Bennington County	72,000	82,320	92,640	102,840	111,120	119,400	127,560	135,840
Caledonia County	72,000	82,320	92,640	102,840	111,120	119,400	127,560	135,840
Essex County	72,000	82,320	92,640	102,840	111,120	119,400	127,560	135,840
Lamoille County	72,000	82,320	92,640	102,840	111,120	119,400	1127,560	135,840
Orange County	72,000	82,320	92,640	102,840	111,120	119,400	127,560	135,840
Orleans County	72,000	82,320	92,640	102,840	111,120	119,400	127,560	135,840
Rutland County	72,000	82,320	92,640	102,840	111,120	119,400	127,560	135,840
Washington County	76,800	87,840	98,760	109,680	118,560	127,320	136,080	144,840
Windham County	72,000	82,320	92,640	102,840	111,120	119,400	127,560	135,840
Windsor County	74,040	84,600	95,160	105,720	114,240	122,640	131,160	139,560

Loan amount of $27,500: Energy Star Rated Manufactured Home

Replace an old manufactured home with a new Energy Star Rated model. Location can be in a mobile home park or on owned land.
Purchase a new Energy Star Rated Manufactured home in a mobile home park or on owned land.
Must qualify for a First Mortgage or other Financing for the balance of the purchase and site improvement costs.
Borrower must be able to contribute at least $2,500 of transaction costs from cash savings.
A home installation inspection will be required.

Loan amount of $35,000: Vermod High Performance Home

Purchase an approved zero energy modular (ZEM) home in a mobile home park setting OR a 1:1 replacement of an old Manufactured Home on owned land (no exceptions).
Must qualify for a First Mortgage or other Financing for the balance of the purchase and site improvement costs.
Borrower must be able to contribute at least $2,500 of transaction costs from cash savings.

Contact Us for More Information:

Alyssa Peteani at [email protected] or (802) 861-7344