Financial and Lifestyle Resources for Vermont

Starting September 4, tenants will be protected from eviction until the end of 2020. This new government order comes from the Centers for Disease Control and Prevention and applies to renters who make less than $99,000 (or $198,000 for joint filers).

COVID-19 has caused financial and job loss for millions of Americans, including tens of thousands of Vermonters filing unemployment insurance claims and wondering about their financial futures. For many, this includes worrying about how they can continue paying their mortgage—and continue owning their homes. Thanks to new federal legislation, accommodating lenders, and grant funding, there are several ways you can keep from falling behind on your mortgage amid the financial uncertainty of COVID-19.

Home ownership is incredibly rewarding, both financially and personally. Building equity in your home puts you on the path towards a sound financial future, while pride of ownership can be immensely gratifying. Now that spring is arriving, a lot of homeowners finally have a chance to begin planning a renovation or tackling a repair that was put on hold during winter’s harsh weather.

Buying a home is complicated. Finding a home that meets your needs as well as your budget is a challenge to begin with. Then you will need to navigate the maze of visits, inspections, negotiations, and documents as you work toward the closing. Your real estate agent, mortgage originator, and lawyer can answer many of your questions and will help you through much of the process, but you’ll have a better chance of getting what you need (along with some additional perks) if you educate yourself on the process first.

Mortgage applications can seem overwhelming due to all the documents that are needed in the process. As a mortgage originator, I’m often asked by clients, “why do I need all that paperwork?” I assure them that the documents are needed to keep us both safe.

After many years of renting small apartments, my wife and I decided to take the plunge and buy our first house. As any new homeowners would, we have been nervously, excitedly, painting walls and undertaking little projects to make our home perfect for us, but the first big project now looms on the horizon—the heating system.

There are many things to consider when purchasing a home—location, school district, neighborhood, affordability, and type (single family vs. multifamily) just to mention a few. Once you’ve found your perfect home, you must choose the best mortgage type—fixed-rate or adjustable. And then you can decide whether to buy points.

If you’re in the market for a new home, it’s time to review your credit report. The information in your report helps your mortgage originator determine your creditworthiness (whether you’re likely to pay back money loaned to you).