Community Lending Mortgages
Affordable housing should be a goal, not a dream.
Let’s make owning a home affordable
At EastRise, we partner with a variety of community lenders to help make home ownership more achievable. If you’re eligible, you can take advantage of features like down payment assistance and lower closing costs.
Benefits
Personal support
Our team of mortgage experts will give you the resources and knowledge you need to confidently buy your new home, even if you’ve never done this before.
Customizable loan terms
With our community lending programs, we can tailor the terms of your loan to meet your specific needs, such as repayment periods or combining various available grant funds.
Competitive interest rates
If you’re an eligible borrower, you could qualify for grant funding from shared equity programs, which can help reduce the monthly payment on your mortgage.
Partner with a community lender to get started
Our community lending partners
We’ll help service a fixed- or adjustable-rate mortgage through a community lending partner such as:
- Champlain Housing Trust
- Windham & Windsor Housing Trust
- Downstreet Housing & Community Development
- NeighborWorks of Western Vermont
- RuralEdge Housing & Community Development
Have another affordable housing program in mind? Let us know for prior review and approval. Unless you’re working with the great folks over at Vermont Housing Finance Agency, our mortgage team will continue to be your go-to loan servicing resource after closing.
How our programs work
Not sure which option makes sense for you? Talk to one of our mortgage loan officers to learn what programs you’re eligible for and how you might combine them to make the most of your community lending mortgage.
Shared Equity with Community Lending partners throughout the State of Vermont:
- Champlain Housing Trust
- Windham & Windsor Housing Trust
- Downstreet Housing & Community Development
- Neighborworks of Western VT
- RuralEdge Housing & Community Development
Pair with the Homeownership Equity Program (HEP)
- The HEP Downpayment Assistance product provides a bridge to homeownership with 0% interest rate loans of up to $25,000 for qualified shared equity home buyers.
- If you own and live in the home for three years or more, you never have to repay the loan. You can use the funds to pay the costs of buying the home, to borrow less money, and to build home equity.
Eligible Homebuyers:
- Must purchase a shared equity home
- Have a household income at or below 100% area median income
- Be a first-time home buyer; and
- Have at least one of the prospective property owners identify as a BIPOC (Black, Indigenous and People of Color)
Our Downpayment assistance programs through Neighborworks of Western Vermont assists with:
- Second mortgages to assist with a downpayment for a new home
- Providing loans to qualified borrowers purchasing in Vermont
Rates are not guaranteed and are subject to change at any time.
The Downpayment assistance loan will be paired with a first mortgage for up to 100% financing on your home.
Our Champlain Housing Trust’s Manufactured Downpayment assistance is a:
- 0% interest, 0 payment second mortgage loan to be used for the downpayment to replace or purchase a new single wide or double wide manufactured home in a park or on owned land.
your payments.
Use our handy home mortgage calculator to get a rough estimate of your closing costs and monthly payments.1
Additional resources
Here are a few other resources, pages and articles you might enjoy.
Talk to us about Community Lending
Disclosures
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APR = annual percentage rate. Payment examples do not include amounts for taxes and insurance premiums and actual payment obligation may be greater than illustrated.
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