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HomeBank LoanVermont First-Time Homebuyer Packages | The Lenders Community

Vermont First-Time Homebuyer Packages | The Lenders Community


Get Pre-Approved and Check Today’s Rates

 

VHFA Mortgage Programs

VHFA programs are paired with 30-year fixed-rate mortgages (Fannie, Freddie, FHA, RD, VA) that provide down payment options as low as 0-5%. All VHFA programs are offered exclusively through local VHFA Participating Lenders. Read more

Requirements

  • Be a first-time homebuyer (have not owned a home within the last 3 years)
  • Minimum 620 credit score
  • Must attend a homebuyer education course
  • Meet income and purchase price limits

 

MOVE

  • Up to $15,000 down payment and closing cost assistance with ASSIST
  • Up to $825 savings on Vermont Property Transfer Tax at closing
  • Lower mortgage insurance when using Fannie Mae or Freddie Mac
  • Income, credit, and other eligibility requirements apply
  • Borrowers & non-borrowing spouses must have not owned within the prior 36 months, if purchasing in: Addison, Bennington, Chittenden, Grand Isle, or Windsor county.

MOVE MCC

  • Annual Federal tax credit with the Move Credit Certificate (MCC) program
  • Up to $15,000 down payment and closing cost assistance with ASSIST
  • Up to $825 savings on Vermont Property Transfer Tax at closing
  • Income, credit, and other eligibility requirements apply
  • Borrowers & non-borrowing spouses must have not owned within the prior 36 months, if purchasing in: Addison, Bennington, Chittenden, Grand Isle, or Windsor county.

ADVANTAGE

  • Up to $15,000 down payment and closing cost assistance with ASSIST
  • Up to $825 savings on Vermont Property Transfer Tax at closing
  • Income, credit, and other eligibility requirements apply

ASSIST Down Payment and Closing Cost Assistance

  • Up to $15,000 down payment and closing cost assistance
  • 0% interest loan with no monthly payments for borrowers eligible
  • Repaid when the property is sold, refinanced, or mortgage is paid in full
  • Must be used with VHFA Move, Move MCC, or Advantage
  • Borrowers & non-borrowing spouses must be true first-time homebuyers
  • Combined liquid (non-retirement) assets must be less than $30,000
  • NOT available when using a VA Loan

Mortgage Credit Certificate (MCC)

  • Federal tax credit up to $2,000 each year borrowers live in the home and pay interest on the mortgage
  • Available with MOVE MCC or with a non-VHFA mortgage offered by a VHFA Participating Lender.

 

Get Pre-Approved and Check Today’s Rates

 

Statewide and Regional Programs

Programs by City/Town

Getting Started

Buying a Home

Owning and Maintaining Your Home

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