Vermont home prices have risen about 7% from last year in February 2025, according to Redfin. However, the number of homes for sale in the state has increased by almost 15% last year.
If you are a first-time home buyer in Vermont, Vermont housing finance institutions can help you get the money you need to make it happen. The state’s organization is dedicated to promoting affordable housing through mortgages Down payment support program. Let’s take a look at some options that may help you on your home viewing journey.
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Median home prices as of February 2025: $388,000 (Redfin)
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Houses with price drops as of February 2025: 14.2% (redfin)
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Most Affordable Counties: Caledonia, Essex, Orleans (Atom)
Vermont’s first home buyer program
VHFA Mobile Program
Vermont Housing Financial Institution (VHFA) The mobile program offers the organization’s minimum interest rate. These loans can have a lower down payment requirement between zero and 5% of the purchase price, and all can be paid further in advance when combined with the agency’s down payment assistance program. Plus, save up to $1,735 in Vermont tax.
VHFA Advantage Program
If you are not eligible for travel, the VHFA Advantage Program may be an option. The program offers higher income and purchase price limits – regardless of the county, a revenue cap of $140,000 per year ($170,000 if there are more than three individuals) and a selling price of $500,000,000, $500,000. The requirements are quite similar to those of the Move program.
Vermont Down Payment Support and Grants
VHFA supports down payment support
The assist program through VHFA concludes with down payments and cost support for first-time home buyers, up to $10,000. This assistance is a non-essential, monthly payment loan and is available to those eligible for VHFA movements and the Advantage Mortgage Program. When you sell your home or refinance your first mortgage, the loan must be repaid.
First generation home buyers support
VHFA also offers grants of up to $15,000 for down payments and closure costs for first-generation home buyers. This is defined by satisfying one of these conditions.
- You have been fostered at some point in your life.
- Your parents or legal guardians have never owned a home.
- Your parents or legal guardians have lost their home due to foreclosure.
Grant money is available on the first comb until the initial service runs out.
City-specific Home Buyer Support Program
Champlain Housing Trust’s shared equity program
Low- and middle-income borrowers looking to buy in Northwest Vermont may be eligible for down payment assistance covering 20-30% of the home’s market value. You will need to pay the closing costs ($10,000 to $12,000), but the grant covers the down payment and reduces the amount you need to borrow. There is no need to repay the funds.
When you sell your home, you need to sell it through it Champlain Housing Trust Programs that may limit your interests. If the value of your home rises while you live there, you can get 25% of thanks at the time of sale.
Other Vermont Home Buyer Support Programs
Mortgage Credit Certificate (MCC)
Vermont qualifies first-time home buyers, qualified veterans, and those who buy in a specific target area. Mortgage credit certificate (MCC), the tax credit on mortgage interest is equivalent to a maximum of $2,000 per year. The program is available to all eligible borrowers, whether they work with VHFA to obtain a mortgage or not.
MCC has income limits. This ranges from $100,000 to $145,000, depending on the size of your household and the county you live in. There is also a purchase price limit ranging from $425,000 to $450,000.
VHFA MOVE MCC
This VHFA program combines the benefits of MCC with the Move Mortgage program. This option allows you to get the benefits of federal tax credits and mobile loans. This includes savings on transfer tax, lower down payment options and lower mortgage insurance. This program can also be used in conjunction with VHFA’s down payment assistance program.
Other First-Time Home Buyer Loan Program
While Vermont residents are considering a first-time home buyer program that is specifically available, make sure to explore other national programs that will help you buy your home. Government-supported programs such as: FHA loanVA loan and USDA loan It could be a good option for qualified borrowers with low incomes or with non-perfect credit scores.
Let’s get started
Now you have more information First Home Buyer Program Vermont is ready to take the next step.
