VHFA mortgage programs
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All VHFA programs are offered exclusively through local VHFA Participating Lenders. VHFA programs include the following benefits and eligibility requirements:
MOVE
- Often VHFA's lowest interest rate
- 30-year, fixed rate mortgage loan
- Down payments 0% to 5% (lender will determine)
- Down payment and closing cost assistance available
- Up to $825 savings on Vermont Property Transfer Tax at closing
- Income limit, purchase price limit, credit and other eligibility requirements apply
- Minimum credit score begins at 640, higher minimum scores may be required (lender will determine required score)
- No ownership within prior 36 months, if purchasing in: Addison, Bennington, Chittenden, Grand Isle, or Windsor County
MOVE MCC
- 30-year, fixed rate mortgage loan
- Down payment 0% to 5% (lender will determine)
- Down payment and closing cost assistance available
- Up to $825 savings on Vermont Property Transfer Tax at closing
- Annual Federal tax credit up to $2,000 with the MCC. Restrictions apply
- Income limit, purchase price limit, credit and other eligibility requirements apply
- Minimum credit score begins at 640, higher minimum scores may be required (lender will determine required score)
- No ownership within prior 36 months, if purchasing in: Addison, Bennington, Chittenden, Grand Isle, or Windsor County
ADVANTAGE
- 30-year, fixed rate mortgage loan
- Down payment 0% to 5%, (lender will determine)
- Down payment and closing cost assistance available
- Up to $825 savings on Vermont Property Transfer Tax at closing
- Income limit, purchase price limit, credit, and other eligibility requirements apply
- Minimum credit score begins at 640, higher minimum scores may be required (lender will determine required score)
ASSIST Down Payment and Closing Cost Assistance
- 0% interest loan with no monthly payments due on sale
- Only with a VHFA Move, Move MCC, or Advantage Mortgage Program
- Borrowers and non-borrowing spouses must be true first-time homebuyers
- Maximum loan amount $10,000 or $15,000 based on income (lender will determine)
- Not available with Veteran (VA) loans
Mortgage Credit Certificate (MCC)
- Federal tax credit up to $2,000 each year borrowers live in the home and pay interest on the mortgage. Restrictions apply.
- Available with MOVE MCC or with a non-VHFA mortgage offered by a VHFA Participating Lender.