- Competitive interest rates
- 30-year fixed rate mortgage loans
- Down payment as low as 0% - 5%
- Savings up to $1,735 on Vermont Transfer Tax at closing
- Down payment and closing cost assistance up to $10,000 - $25,000
- Annual federal tax credit up to $2,000 with a Mortgage Credit Certificate
Eligibility requirements apply.
VHFA Programs
MOVE
- Often VHFA's lowest interest rate
- Income limits, purchase price limits, and first-time homebuyer requirements apply
MOVE MCC
- Mortgage Credit Certificate (MCC) issued at closing
- Annual federal income tax credit up to $2,000
- Income limits, purchase price 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 requirements apply to borrowers and non-borrowing spouses. All programs are paired with an eligible 30-year purchase mortgage (Fannie, Freddie, FHA, Rd, VA). 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 for all borrowers is 640-680 depending on the program. 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 how to apply!
Down Payment Assistance (ASSIST)
- $10,000 loan in down payment and closing assistance
- 0% deferred loan with no monthly payments
- Repaid at sale, refinance or mortgage payoff
- Borrowers and non-borrowing spouses must have NEVER owned a home and have less than $30,000 combined liquid assets
- May be combined with First Generation Homebuyer grant
Available exclusively with a VHFA Program (MOVE, MOVE MCC, ADVANTAGE). Borrowers and non-borrowing spouses must meet eligibility requirements for selected VHFA Program. Other credit and property eligibility requirements apply. ASSIST is not eligible with a VA Loan. Contact a VHFA Participating Lender to learn if you qualify and how to apply!
First Generation Homebuyer Assistance
- $15,000 grant for down payment and closing costs
- May be combined with VHFA ASSIST
- Borrowers and non-borrowing spouses must have NEVER owned a home before and have less than $30,000 combined liquid assets
- At least one person taking title must EITHER: have been placed in foster care at some point in their life, OR have parents or legal guardians who never owned or lost their home to foreclosure and have not owned again
Available exclusively with a VHFA Program (MOVE, MOVE MCC, ADVANTAGE). Borrowers and non-borrowing spouses must meet eligibility requirements for selected VHFA Program. 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 how 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 how to apply!