“Realizing the American Dream” Workshop: an eight-hour educational program that informs prospective homeowners about all the steps involved in seeking, buying and caring for a home. At the end of the workshop, the participant will understand the role of a real estate agent or broker, what the elements are of their credit report and what mortgage credit requirements are, the importance of an independent home inspection, how mortgage financing works, the role of the attorney, how to purchase homeowners insurance, and the basics of home maintenance. This workshop is offered three-times per month in locations throughout Windham and Windsor Counties.

Homeownership Personal Assistance: One-on-one assistance from a certified housing counselor that helps prospective buyers understand what they can afford, what mortgage products are available to them, and what the requirements are to qualify for a mortgage. Customers receive direct assistance in credit repair, budgeting and establishing savings. This service is offered without cost to all Workshop graduates.

Direct Financing Assistance: RACLT can provide qualified homebuyers with down payment and closing cost loans and grants.

HOMELAND Shared Equity Grants: Qualified homebuyers can have the purchase price of a home reduced by as much as 20% of the purchase price (with assistance capped at $40,000) by participating in the HOMELAND program, funded by the Vermont Housing and Conservation Board. Homebuyers agree to share the equity gained through market appreciation with future owners of their home. RACLT holds that equity in perpetual trust for the community, ensuring that a stock of single family homes will always be available to moderate income earning households.

Homeownership Preservation Foundation: RACLT participates in this national assistance call center, a NeighborWorks^® America partnership that enables an efficient first response to consumers facing mortgage delinquency issues.

Personal Assistance: When counseling services can help prevent foreclosure, customers work with one of our certified housing counselors to develop a repayment plan, effectively communicate with lenders, and develop alternatives to losing their home.

Direct Financial Assistance: Qualified households can receive direct financial assistance to buffer the short term affects of income loss.

HECM Mortgage Counseling: Also known as “reverse mortgages,” Home Equity Conversion Mortgages can be an effective tool to assist those on a fixed or limited income use the equity built over time to help meet ongoing financial needs. RACLT’s HomeOwnership Director is certified HECM counselor. 

Qualified low income homeowners can receive funding for essential repairs to their homes through the Southeastern Vermont Revolving Loan Fund. The RACLT Housing Rehabilitation Specialist helps homeowners make application for these funds.  RACLT partners with the Windham Housing  Trust and the Twin Pines Housing Trust to make this array of services available to all households in Windham and Windsor County, Vermont.

Our HomeOwnership Center is a part of the NeighborWorks^® HomeOwnership Centers of Vermont, a collaborative among the five Vermont NeighborWorks organizations. Through this collaborative, the Centers are actively working towards a statewide employer-sponsored homeownership program, developing a financial literacy mentoring initiative and creating partnerships with lenders and real estate professionals. 

RACLT works with local communities to develop new affordable housing options. By acting as developer, RACLT can attract and leverage a wide variety of public and private resources to create permanently affordable rental housing. These resources include: 
 

	Federal Low Income Housing Tax Credits
	State Housing Tax Credits
	Federal and state Historic Preservation Tax Credits
	Vermont Housing and Conservation Trust Fund loans and grants
	Community Development Block Grant and HOME funds
	USDA Rural Development loans and grants
	Vermont Housing Finance Agency loans
	Federal Home Loan Bank of Boston Affordable Housing Program funds
	And many other public and private funds

In its rental housing developments, RACLT works closely with local governments and state agencies to create high quality, long-lasting and permanently affordable rental housing. 
 

Ownership Housing 

Working with many of the same public and private entities, RACLT develops new housing for sale to low and moderate income households. This housing includes stand-alone single family housing, as well as condominium-style housing. 

RACLT is currently seeking to develop new rental and ownership housing in Proctorsville (Town of Cavendish), and is exploring new housing developments in Ludlow and Windsor. 

RACLT Apartments and Mobile Home Lots for Rent 

RACLT owns, either alone or in tax-credit partnerships, 300 units of rental housing in southeastern Vermont. This housing is primarily rented to low and moderate income families. Some rents are subsidized using the HUD Section 8 program, or the USDA Rural Development Rental Assistance program. Units developed using Low Income Housing Tax Credits have rents that are affordable to households earning 60% of median income.

All RACLT apartments and mobile home parks are managed by Northern Community Management Corporation. Prospective tenants are invited to complete a Rental Housing Application. Applications are available at the RACLT office or from NCMC at (802) 674-2867.