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.