Buying a Home in Vermont?

VHFA can help lower the cost of purchasing a home.

How We Can Help

 

"Without a VHFA program, I would not be able to purchase this house.”

-Zeynab K.

 

Kouyate_Milton

 

"My favorite part about owning a home is the independence it gives me.”

-Nathan L.

VHFA home buyers
  • Competitive interest rates
  • 30-year fixed rate mortgage loans 
  • Down payment as low as 0% - 5%
  • Savings up to $825 on Vermont Transfer Tax at closing
  • Down payment and closing cost assistance up to $10,000 - $30,000
  • Annual federal tax credit up to $2,000 with a Mortgage Credit Certificate

Eligibility requirements apply.

VHFA Loan Programs

MOVE

MOVE MCC

  • Mortgage Credit Certificate (MCC) issued at closing
  • Annual federal income tax credit up to $2,000
  • Income limits and first-time homebuyer requirements apply 

ADVANTAGE

  • VHFA's highest Income and Purchase Price Limits
  • Useful for households who do not qualify for MOVE or MOVE MCC  
  • No first-time homebuyer requirement unless using a VHFA down payment assistance program

Income limits and first-time homebuyer status applies to borrowers and non-borrowing spouses. For MOVE and MOVE MCC, borrowers and non-borrowing spouses must have not owned a home within last 3 years if purchasing in Addison, Bennington, Chittenden, Grand Isle, or Windsor county. Minimum credit score of 640-680 is required. Other credit and property eligibility requirements apply. At least one borrower must complete homebuyer education from an approved provider. Contact a VHFA Participating Lender to learn if you qualify and to apply!

Down Payment Assistance (ASSIST)

  • $10,000 - $15,000 down payment and closing assistance
  • 0% deferred loan with no monthly payments
  • Repaid at sale, refinance or mortgage payoff
  • May be combined with First Generation Homebuyer grant
  • Borrowers and non-borrowing spouses must be true first-time homebuyers with less than $30,000 combined liquid assets

Available exclusively with a VHFA Loan Program (MOVE, MOVE MCC, ADVANTAGE). Borrowers and non-borrowing spouses must meet eligibility requirements for selected VHFA Loan Program. Other credit and property eligibility requirements apply. Contact a VHFA Participating Lender to learn if you qualify and to apply!

First Generation Homebuyer Program

  • $15,000 grant for down payment and closing costs
  • May be combined with VHFA ASSIST

Available exclusively with a VHFA Loan Program (MOVE, MOVE MCC, ADVANTAGE). Borrowers and non-borrowing spouses must meet eligibility requirements for selected VHFA Loan Program. In addition, borrowers and non-borrowing spouses must be true first time homebuyers with less than $30,000 combined liquid assets, and at least one person taking title must: (1) have been placed in foster care at some point in their life, or (2) have parents or legal guardians who never owned a home, or (3) have parents who lost their home due to foreclosure and have not owned again. Other credit and property eligibility requirements apply. Grants are available while funds last on a first-come, first-served basis. Contact a VHFA Participating Lender to learn if you qualify and to apply!

Mortgage Credit Certificate (MCC)

  • Federal tax credit up to 50% of mortgage interest paid annually, capped at $2,000 per year
  • Borrowers receive certificate after closing and provide to tax preparer each year
  • Available for as long as the borrower lives in the home and holds the original first mortgage

Eligible borrowers automatically receive an MCC when using VHFA MOVE MCC, or can attach an MCC to any non-VHFA loan that a participating lender offers. Other credit and property eligibility requirements apply. Contact a VHFA Participating Lender to learn if you qualify and to apply!

VHFA benefits are offered through local participating banks, credit unions and mortgage companies.

 

Contact a Participating Lender Today!

Upcoming Events

There are no scheduled homebuying events at this time. You may view a previously recorded Homebuying 101 webinar on YouTube.