How does the NeighborWorks Alliance of Vermont
help homebuyers?
Vermont's five HomeOwnership Centers are certified providers of the NeighborWorks® Full Cycle Lending curriculum. Full Cycle Lending offers comprehensive services to homebuyers of any income from the initial stages of purchasing a home followed by on-going support after purchase. The NeighborWorks® Alliance of Vermont is available throughout the process to assist customers with securing a mortgage, providing low-interest rehab loans, planning for maintenance and repairs, budgeting as a homeowner, dealing with unforeseen difficulties, refinancing, and even working through foreclosure avoidance, if necessary.

NeighborWorks Alliance of Vermont offers a helping hand for as long as it takes
Families work with their regional HomeOwnership Center for months or years to achieve their goal of financially stability and independence through homeownership. The assistance begins long before the closing date, often before the home is even located. After the closing, our homeownership counselors are available during the following year for consultation if new homeowners face challenges managing the new responsibilities of home maintenance and financial obligations. If families move to a different region, they may use their local region’s HomeOwnership Center’s services as well.

First-time buyers learn how to qualify for a mortgage
In some regions, customers attend an orientation or informational meeting before registering for a homebuyer education workshop. Each customer must receive 8-hours of homebuyer education by participating in a regularly scheduled workshop. Following the workshop, customers meet individually with a homeownership counselor to review their personal financial situations. Through the workshop and counseling, they determine the house price and mortgage they can afford. To qualify for a mortgage, buyers work with individual homeownership counselors to budget for savings, reduce consumer debt, or to clear up credit problems.

NeighborWorks Alliance of Vermont links buyers with advantageous mortgages
Homeownership counselors have strong relationships with area lenders and can give customers information about the most advantageous mortgages and rates, and appropriately priced insurance plans. Buyers learn about low-interest rehab or weatherization loans and incentives for a property that needs repairs or energy conservation. The Centers can help buyers find and evaluate a house that is right for them, order a property inspection, negotiate a purchase and sales contract, and offer advice with mortgage application paperwork.

Customers are assured long-term success as homeowners
During the year following a customer’s home purchase, homeownership counselors follow up to make sure customers are becoming stable homeowners. The counselors offer guidance on continuing strong budgeting practices. Centers also offer workshops of interest to homeowners, such as home repair, landscaping, and refinancing.

Why can’t many Vermont families buy homes?