Buying a home with VHFA

VHFA offers three home loan programs:

  • government guarantee
  • conventional
  • direct home loan

Not sure which loan program is right for you? Let us help!

Answer these questions and we'll point you to the best program for you.

  1. more information

    County determines other eligibility requirements including, but not limited to, the first-time buyer requirement — Cannot have owned a principal residence within the past three years. See question #4 — and maximum income.

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  2. more information Yes   No

    Veterans and their spouses are exempt from VHFA's first-time buyer requirement in counties where it might apply.

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  3. more information

    Some loan programs restrict, or only accept, certain property types.

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  4. more information Yes   No

    VHFA requires borrowers purchasing in any of these counties to not have owned a home within the previous three (3) years:

    • Addison County
    • Bennington County
    • Chittenden County
    • Grand Isle County
    • Windsor County

    Exceptions: Burlington's Census Tract 4 and veterans who've served within the past 25 years

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  5. more information Yes   No

    All borrowers must occupy the property as their primary place of residence.

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  6. more information

    Total family size includes all dependents of the borrowers, and the borrowers. For example, if you and your spouse are applying for the loan, and you have one dependent child, your total family size is three.

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  7. more information $

    The gross income of all borrowers (and spouses) cannot exceed the maximum limit set by county and family size.

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  8. more information $

    VHFA does not finance homes priced greater than $287,000 including the cost of any repairs.

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