First Time Home Buyer
Programs in Vermont
Complete First Time Home Buyer Programs Available in Vermont.
The state agency created by the legislature in Vermont to offer
first time home buyer programs is the Vermont Housing Finance Agency. Here is a
summary of the current first time home buyer programs that are offered:
MOVE— MOrtgages for VErmonters
MOVE is VHFA's most popular loan program. MOVE offers borrowers flexible down
payment requirements and qualifying guidelines and a number of interest rate and
point options. MOVE loans are for home purchase only.
First Time Home Buyer Grants in Every State
Up To $10,000 Down Payment Assistance
HOUSE— Homeownership Opportunities Using Shared Equity
The HOUSE program is available for homebuyers who work with a nonprofit housing
organization and agree to share their home's appreciation with future buyers in
exchange for purchase assistance. The nonprofit organization and homebuyer agree
to keep the property affordable for future homebuyers by sharing any profit when
the home is sold.
For complete details on these first time home
buyer programs available to Vermont residents, visit the
Vermont Housing Finance Agency website.
It is highly recommend that you also visit the
First Time Home Buyer Grants page
for free assistance with the down payment. This will make it possible for many
people to qualify for a first time home
buyer loan who wouldn't have qualified without the grant assistance.
Best Lender For First Time Home Buyer Loans
Unfortunately, some lenders do not like
to work with first time home buyers (due to not having a track record), and prefer instead to only provide
mortgages to people who have previously owned a home.
If you do not need help with the down payment and are not
in need of any state program, search for a
lender that has great rates, an easy online application, and welcome first
time home buyers. Additionally find one that has not been as severely hurt by the
subprime mortgage crisis and are still approving the majority of applications.
Other First Time Home Buyer Programs & Resources