Vermont Down Payment Assistance (ASSIST)

How do you repay Vermont Down Payment Assistance (ASSIST)?

Deferred loan: it's a 0% loan and you pay nothing each month. It gets repaid when you sell the home, refinance or pay off the mortgage.

If you sell the home, refinance or pay off your first mortgage, the full amount becomes due, even though it costs you nothing each month.

Who can get Vermont Down Payment Assistance (ASSIST)?

• To qualify, your income must fall within the MOVE income limits.
• First-time buyers only (usually no home owned in the last three years).
• You take a homebuyer education course before buying.
• This pairs with a VHFA MOVE loan; a VA loan isn't an option.
• Price limit: mOVE purchase price limits are in effect (no figure given).

See the agency's income chart for the exact limit based on your county and household size. Use our HUD income limits tool to see the median income in your area.

Applying for Vermont Down Payment Assistance (ASSIST)

1. You apply with one of the approved lenders, along with your home loan, because Vermont Housing Finance Agency pays this help through them.
2. Your income, credit and the home get checked by the lender against the program's rules, and the money is reserved for you.
3. At closing, the money goes toward your down payment and your closing costs.

See Vermont Housing Finance Agency's page for Down Payment Assistance (ASSIST) for the full rules and to check if it's open for applications, or find a lender on the agency's list of participating lenders.

Additional Vermont programs for first-time buyers

• Vermont First Generation Homebuyer Program:

  A grant of up to $15,000.

• Vermont Shared Equity Assistance:

  Grant of up to $5,000.

Every Vermont first-time home buyer program · Down payment aid in every state