Homeownership Development Program (HDP)

From this site you will find information, required program forms and a secure document delivery process.

The Homeownership Development Programs (HDP) include the Middle-Income Homeownership Development Program (MIHDP) and the VT State Affordable Tax Credit (tax credit). HDP provides financial incentives to developers to support construction of modest homes for purchase. Properties that benefited from HDP for construction may also have subsidies for eligible buyers in the form of a MIHDP Affordable Subsidy and/or a Tax Credit.

The information below outlines eligibility requirements and required forms.

Important Information for Lenders: The lender is responsible for verifying that the MIHDP Affordable Subsidy and the VT Affordable Tax credit are eligible community seconds. For information on program restrictions per the MIHDP Mortgage Deed or MIHDP Covenant, contact VHFA's Compliance Department.

Compliance Requirements and Process: All buyers purchasing a property in a project that has benefitted from HDP must meet all compliance requirements of the program as outlined in the HDP Guide. If the buyer(s) is also applying for a VHFA Homeownership Program, all requirements for that program must also be met.

Eligible Property, Program Limits and Applicable HDP Subsidies: Only units preapproved by VHFA are eligible. Program Limits, income and purchase price, and available HDP Subsidies are set by unit. Go to MIHDP Homes for Sale for this information.

HDP Eligibility Requirements	Information Available
HDP Program Guide (rev 2026/04)	Buyer eligibility requirements, required information and documents and closing process

HDP Eligibility Requirements

Information Available

HDP Program Guide

(rev 2026/04)

Buyer eligibility requirements, required information and documents and closing process

Required VHFA Forms	Form Instructions ^{Download forms and complete in Adobe}
HDP Compliance Affidavit (rev. 2026/04)	Review Compliance Affidavit with buyer(s) and non-buying spouse. Complete Section 4C and 5B with the income limit and available subsidy per the Middle-Income Homeownership Development Program Homes for Sale at MIHDP Homes for Sale webpage. All buyers, non-buying spouses, and the lender must complete the signature area of the form. eSignature with vendor certification or wet sign.
HDP Compliance Income Worksheet (rev. 2026/04)	All income the buyer and spouse receive must be included. For each buyer and non-buying spouse, enter income in the applicable field and total. An authorized signed of the organization responsible signs and provides contact information. Documentation verifying the income per the worksheet must be obtained.
HDP Asset Worksheet (rev. 2026/04)	All assets of all buyers and spouses must be included, including expected gain from the sale of current real estate owned.
HDP Compliance Checklist (rev. 2025/11)	The HDP Compliance Checklist details the information required for each compliance package submitted for reviews. The checklist must be completed, signed and delivered with each compliance package.

Required VHFA Forms

Form Instructions

^{Download forms and complete in Adobe}

HDP Compliance Affidavit

(rev. 2026/04)

Review Compliance Affidavit with buyer(s) and non-buying spouse.
Complete Section 4C and 5B with the income limit and available subsidy per the Middle-Income Homeownership Development Program Homes for Sale at MIHDP Homes for Sale webpage.
All buyers, non-buying spouses, and the lender must complete the signature area of the form. eSignature with vendor certification or wet sign.

HDP Compliance Income Worksheet

(rev. 2026/04)

All income the buyer and spouse receive must be included.

For each buyer and non-buying spouse, enter income in the applicable field and total.
An authorized signed of the organization responsible signs and provides contact information.
Documentation verifying the income per the worksheet must be obtained.

HDP Asset Worksheet

(rev. 2026/04)

All assets of all buyers and spouses must be included, including expected gain from the sale of current real estate owned.

HDP Compliance Checklist

(rev. 2025/11)

The HDP Compliance Checklist details the information required for each compliance package submitted for reviews. The checklist must be completed, signed and delivered with each compliance package.

Pre-Closing Requirements and Process

Once VHFA has issued Conditional Commitment, download the Closing Information form below, complete the form, and return to VHFA no later than five (5) business days prior to the scheduled closing.

Pre-Closing Document	Form Instructions
Closing Information Form (rev. 2026/04)	Form provides VHFA with the closing agent contact information and closing details. VHFA will deliver closing instructions and the applicable HDP closing documents to the closing agent.

Pre-Closing Document

Form Instructions

Closing Information Form

(rev. 2026/04)

Form provides VHFA with the closing agent contact information and closing details. VHFA will deliver closing instructions and the applicable HDP closing documents to the closing agent.

VHFA Responsibility:

VHFA is responsible for delivering the MIHDP documents and Affordability Subsidy amount, if applicable, and closing agent instructions to the closing. The closing agent is instructed to return MIHDP documents to VHFA immediately after closing.

Questions about the Income Verification process?

VHFA Compliance Department

Questions about the MIHDP Program?

VHFA Development Department

Homeownership Development Program (HDP)

HDP Eligibility Requirements

Information Available

Required VHFA Forms

Form Instructions

Pre-Closing Requirements and Process

Pre-Closing Document

Form Instructions

HDP Document Submission (secure portal)