Half of Homeowner Assistance Funds Awarded in Vermont

The Vermont Homeowner Assistance Program has provided a lifeline to Vermonters affected by the COVID-19 pandemic, disbursing over $22.5 million in grants to assist with housing expenses. The program, which is administered by the Vermont Housing Finance Agency, was launched in January 2022 with the goal of helping homeowners who have experienced economic hardship as a result of the pandemic.

Funded by the American Rescue Plan Act, the program offers grants of up to $30,000 per household to cover overdue mortgage payments, utility bills, property taxes, and property association charges. The program also provides application assistance and counseling through local nonprofit partners, helping Vermonters find stability and remain in their homes.

To date, the program has helped 4,202 households from across Vermont, with the majority having low or moderate incomes, and a median household income of $34,393 per year. Feedback from recipients has been overwhelmingly positive, with one client from Grand Isle expressing gratitude for the program’s assistance in catching up on mortgage and utility bills.

Approximately 78% of the total program funding has been requested or paid out, although some funds may become available again as applications are processed and reviewed. The program is expected to continue accepting applications from eligible homeowners until spring 2023, subject to demand. The Vermont Housing Finance Agency will closely monitor application volume and provide public notice 60 days in advance of any changes to the program.

After 60 days, new applicants will be given the option to sign up for a waitlist and will be notified if they can submit an application based on funding availability. The agency updates a dashboard on its website weekly, displaying program activity, and encourages Vermonters facing housing expenses challenges to visit the program website or call 833-221-4208 for more information and assistance.