Vermont First-Time Home Buyer Guide 2026
VHFA’s MOVE, MOVE MCC and ADVANTAGE programs explained, ASSIST down payment help of up to $10,000, the $15,000 First Generation grant, income and purchase price limits by county, and who qualifies in Vermont.
VHFA MOVE and MOVE MCC
MOVE is often the Vermont Housing Finance Agency’s lowest interest rate program. MOVE MCC adds a Mortgage Credit Certificate issued at closing. VHFA benefits are available exclusively through participating banks, credit unions and mortgage companies.
| Requirement | MOVE and MOVE MCC |
|---|---|
| First-time buyer | Borrowers and non-borrowing spouses must not have owned a home within the last 3 years if purchasing in Addison, Bennington, Chittenden, Grand Isle or Windsor county |
| Limits | Income and purchase price limits apply |
| Credit | Minimum credit score of 640–680, depending on the program |
| Homebuyer education | At least one borrower must complete homebuyer education from an approved provider |
| Mortgage | Eligible 30-year fixed rate Fannie Mae, Freddie Mac, FHA, Rural Development or VA mortgage |
Sources: VHFA homebuyer programs and the VHFA homebuyer FAQ.
VHFA Down Payment Assistance
VHFA offers two kinds of help with the cash needed to close: the ASSIST loan and the First Generation Homebuyer Grant. They may be combined with each other.
| Feature | ASSIST | First Generation Homebuyer Grant |
|---|---|---|
| Amount | Up to $10,000 | $15,000 |
| Form | 0% deferred loan with no monthly payments | Grant |
| Repayment | Repaid at sale, refinance or mortgage payoff | None |
| Prior ownership | Must have never owned a home | Must have never owned a home |
| Liquid assets | Less than $20,000 combined | Less than $20,000 combined |
| Used with | VHFA MOVE only; not eligible with a VA loan | VHFA MOVE, MOVE MCC or ADVANTAGE |
For the First Generation grant, at least one person taking title must have been placed in foster care, or have parents or legal guardians who never owned a home or lost their home to foreclosure and have not owned again. Source: VHFA.
ADVANTAGE and the Mortgage Credit Certificate
| Program | Who It Is For | Key Terms |
|---|---|---|
| ADVANTAGE | First-time and repeat buyers | VHFA’s highest income and purchase price limits; no first-time homebuyer requirement unless using VHFA down payment assistance |
| Mortgage Credit Certificate | Buyers within the MCC limits | Federal tax credit up to 50% of mortgage interest paid annually, capped at $2,000 per year, for as long as you live in the home and hold the original first mortgage |
ADVANTAGE’s limits are $150,000 for 1–2 person households and $180,000 for 3 or more in every county, with a $550,000 purchase price limit for 1–2 units. Eligible borrowers can also attach an MCC to a non-VHFA loan offered by a participating lender. MCC terms are in VHFA’s Program and Procedural Guide.
VHFA Income and Purchase Price Limits
These MOVE and MOVE MCC limits apply as of July 1, 2026. The standalone MCC uses the same limits. VHFA counts the combined gross annual income of all borrowers and non-borrowing spouses.
| County | Income, 1–2 People | Income, 3 or More | Price, 1 Unit | Price, 2 Units |
|---|---|---|---|---|
| Washington | $125,000 | $145,000 | $450,000 | $500,000 |
| Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, Orange, Orleans, Rutland, Windham | $120,000 | $140,000 | $450,000 | $500,000 |
| Addison | $110,000 | $130,000 | $450,000 | $500,000 |
| Bennington, Windsor | $110,000 | $128,000 | $450,000 | $500,000 |
Limits are from VHFA’s income and purchase price limits.
Who Qualifies in Vermont
| Requirement | Detail |
|---|---|
| Credit | 640–680 minimum, depending on the program |
| First-time buyer | MOVE: no home owned in the last 3 years in Addison, Bennington, Chittenden, Grand Isle or Windsor county; ASSIST and First Generation: never owned a home |
| Liquid assets | Less than $20,000 combined for ASSIST and First Generation |
| Homebuyer education | At least one borrower, from an approved provider |
| Down payment | As low as 0%–5%, depending on the program |
Sources: VHFA homebuyer programs and VHFA homebuyer FAQ.
Vermont First-Time Home Buyer Steps
| Step | What Happens |
|---|---|
| 1. Check the limits | Compare your household income and target price against VHFA’s limits for your county |
| 2. Pick the program | MOVE, MOVE MCC or ADVANTAGE |
| 3. Choose a participating lender | VHFA benefits are available exclusively through participating lenders |
| 4. Add assistance if you qualify | ASSIST up to $10,000 and the $15,000 First Generation grant |
| 5. Complete homebuyer education | At least one borrower, from an approved provider |
| 6. Make an offer and close | Budget for the property transfer tax, which is reduced for a principal residence and with a VHFA mortgage |
