New programs aim to change Vermont’s dismal BIPOC homeownership rates
BURLINGTON, Vt. (WCAX) - Owning a home has many financial benefits and is crucial for building wealth to pass down to future generations. But discriminatory practices have long kept BIPOC people from buying.
In recent months, nonprofits have started trying to right the imbalance. The Vermont Housing Finance Agency, which helps low-income residents buy homes, is offering down payment assistance to first-generation home buyers. Affordable housing developer Champlain Housing Trust is providing zero-interest loans to BIPOC borrowers in what is believed to be the first program of its kind in the country. The Vermont Legislature is looking at ways to help and steering funding for these efforts.
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