Vermont First Generation Homebuyer Program

How is Vermont First Generation Homebuyer Program paid back?

Grant: it's a grant, so you don't repay it.

A grant is money you never pay back, as long as you keep to the program's rules.

Who qualifies for Vermont First Generation Homebuyer Program?

• Only for first-generation buyers: at least one titleholder was in foster care, or whose parents or guardians never owned a home or lost it to foreclosure.
• Income limits follow your chosen VHFA program: MOVE, MOVE MCC, or ADVANTAGE.
• Only for first-time buyers (usually no home owned in the past three years).
• A homebuyer education course before you buy.
• It comes with a VHFA MOVE, MOVE MCC, or ADVANTAGE first mortgage.

The exact income limit for your county and household size is on the agency's income chart. Our HUD income limits lookup shows your area's median income.

How to apply for Vermont First Generation Homebuyer Program

1. Vermont Housing Finance Agency pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
2. The lender checks your income, credit and the home against the program's rules and reserves the money for you.
3. The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on Vermont Housing Finance Agency's page for First Generation Homebuyer Program, or pick a lender from the agency's list of participating lenders.

Other first-time buyer programs in Vermont

• Vermont Down Payment Assistance (ASSIST): up to $10,000, deferred loan.
• Vermont Shared Equity Assistance: up to $5,000, grant.

All Vermont first-time home buyer programs · Down payment assistance in every state