FINANCING A VERMOD HOME

Banks & Credit Unions

Don’t see your bank or credit union on the list? We are happy to work with your lender!*

Bar Harbor Bank & Trust

Ryan Tremblay
Woodstock Branch
(802) 234-7334

Mascoma Savings Bank

VSECU

Shari DeLatte
Montpelier Branch
(877) 863-0102

Financing

*VerMod Homes can be financed by any bank or credit union that issues construction loans.

USDA Rural Development Direct Loan Program

For low-income home buyers

Terms

  • 30 year terms in mobile home parks and co-ops, 33 year terms on owned land, 38 year terms for very low-income applicants
  • 3.25% interest rate can be subsidized down to 1.25%, depending on income
  • No down payment requirement
  • Maximum loan limits apply (see pre-application packet for more details)

Eligibility

  • Income limits: can be found in pre-application packet
  • Credit history and debt obligations are considered
  • Burlington, South Burlington, Winooski, Essex Junction, and SE Colchester residents are ineligible for this Rural Development program due to population density
  • Applicants must complete HomeBuyer Education course at your local NeighborWorks HomeOwnership Center

Contact USDA Rural Development

  • Montpelier:
    (802) 828-6022
  • Brattleboro:
    (802) 257-7878 x102
  • St. Johnsbury:
    (802) 748-8746 x125

USDA Rural Development Guaranteed Loan Program

For moderate-income home buyers

Terms

  • 30 year fixed rate mortgages
  • Interest rate based on current market
  • No maximum loan limits
  • Guaranteed loans are administered by USDA approved lenders

Eligibility

  • Maximum income limits by Vermont county
  • Credit history and debt obligations are considered
  • Burlington, South Burlington, Winooski, Essex Junction, and SE Colchester residents are ineligible for this Rural Development program due to population density

Forms

Contact an approved lender for pre-qualification paperwork

Contact

  • Your local approved lender OR
  • Rural Development Guaranteed Housing Specialist Colleen Ladew at (603) 223-6080

All VerMod homes are built to suit the homebuyerʼs budget and aesthetic preferences. Contact us for pricing information. Design fees and pricing vary based on level of customization.

VERMOD PARTNERS