BAAH offers mobile home loans

Friday February 1, 2013

BRATTLEBORO -- Brattleboro Area Affordable Housing is offering a low-cost loan program to help Tri-Park residents make their homes more safe, habitable, energy-efficient, code-compliant or saleable.

The program is in collaboration with River Valley Credit Union, which was partially guarantee them up to 70 percent or a maximum of $1,750.

The initial guarantee fund is being provided by the Thomspon Trust.

Eighty-eight percent of the mobile homes in Brattleboro are on rented lots in Tri-Park, the cooperative that owns Mountain Home, Glen and Black Mountain Parks.

The majority of the homes in Tri-Park predate a 1976 HUD code that prohibits the owners from receiving normal mortgage financing. USDA’s Rural Repair and Rehab program offers help on easy terms, but low-income limits disqualify many home owners.

Loans guaranteed by BAAH can used for general repairs or improvements, energy-efficiency projects and site and installation upgrades.

Improvements can make the home more habitable, reduce energy costs, extend the life of the home and possibly make flood insurance available.

For more information, call Joan Benneyan, project coordinator, at 802-254-1246.


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