Bootcamp For Buyers

Vermont VHFA Advantage Program

The Vermont VHFA Advantage Program, offered by the Vermont Housing Finance Agency (VHFA), is designed to make homeownership more accessible and affordable for eligible buyers. By providing competitive mortgage rates and financial assistance, this program helps reduce the upfront costs of purchasing a home in Vermont.

Benefits

  • Offers 30-year fixed-rate mortgages with competitive interest rates, ensuring stable and predictable monthly payments.
  • Provides down payment and closing cost assistance, reducing financial barriers for eligible buyers.
  • Supports first-time homebuyers and those purchasing in targeted areas across Vermont.
  • Includes options for reduced private mortgage insurance (PMI), lowering monthly housing expenses.
  • Encourages long-term housing stability and equity building for low- and moderate-income households.

Eligibility Requirements

  • Applicants must meet income and purchase price limits, which vary based on household size and property location within Vermont.
  • The property must be located in Vermont and used as the buyer’s primary residence.
  • A minimum credit score of 640 is typically required, with lender-specific underwriting criteria also applicable.
  • Participants must qualify for a VHFA-approved first mortgage to access the program benefits.
  • Completion of a VHFA-approved homebuyer education course is required to prepare for the responsibilities of owning a home.

Additional Information

The Vermont VHFA Advantage Program is an essential resource for residents seeking to achieve homeownership while minimizing upfront costs. By offering affordable mortgage options and financial assistance, this program empowers eligible buyers to secure stable housing and build long-term equity. Administered by the Vermont Housing Finance Agency, this initiative supports sustainable homeownership and strengthens communities across the state.