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Vermont First-Time Home Buyer Guide

Vermont First-Time Home Buyer Guide

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.

10 min readUpdated 2026Vermont
Up to $10,000VHFA ASSIST down payment help
$15,000First Generation grant
$2,000Max annual MCC tax credit
640–680Minimum credit, by program

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.

RequirementMOVE and MOVE MCC
First-time buyerBorrowers 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
LimitsIncome and purchase price limits apply
CreditMinimum credit score of 640–680, depending on the program
Homebuyer educationAt least one borrower must complete homebuyer education from an approved provider
MortgageEligible 30-year fixed rate Fannie Mae, Freddie Mac, FHA, Rural Development or VA mortgage

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.

FeatureASSISTFirst Generation Homebuyer Grant
AmountUp to $10,000$15,000
Form0% deferred loan with no monthly paymentsGrant
RepaymentRepaid at sale, refinance or mortgage payoffNone
Prior ownershipMust have never owned a homeMust have never owned a home
Liquid assetsLess than $20,000 combinedLess than $20,000 combined
Used withVHFA MOVE only; not eligible with a VA loanVHFA 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

ProgramWho It Is ForKey Terms
ADVANTAGEFirst-time and repeat buyersVHFA’s highest income and purchase price limits; no first-time homebuyer requirement unless using VHFA down payment assistance
Mortgage Credit CertificateBuyers within the MCC limitsFederal 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.

CountyIncome, 1–2 PeopleIncome, 3 or MorePrice, 1 UnitPrice, 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

RequirementDetail
Credit640–680 minimum, depending on the program
First-time buyerMOVE: 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 assetsLess than $20,000 combined for ASSIST and First Generation
Homebuyer educationAt least one borrower, from an approved provider
Down paymentAs low as 0%–5%, depending on the program

Vermont First-Time Home Buyer Steps

StepWhat Happens
1. Check the limitsCompare your household income and target price against VHFA’s limits for your county
2. Pick the programMOVE, MOVE MCC or ADVANTAGE
3. Choose a participating lenderVHFA benefits are available exclusively through participating lenders
4. Add assistance if you qualifyASSIST up to $10,000 and the $15,000 First Generation grant
5. Complete homebuyer educationAt least one borrower, from an approved provider
6. Make an offer and closeBudget for the property transfer tax, which is reduced for a principal residence and with a VHFA mortgage

Vermont First-Time Buyer FAQs

Does Vermont have a first-time home buyer program?
Yes. The Vermont Housing Finance Agency’s MOVE program is often VHFA’s lowest interest rate, with income, purchase price and first-time homebuyer requirements, and its ASSIST loan and First Generation grant are for buyers who have never owned a home.
How much down payment assistance can I get in Vermont?
VHFA’s ASSIST provides up to $10,000 as a 0% deferred loan repaid at sale, refinance or payoff, and the First Generation Homebuyer Grant provides $15,000. The two may be combined.
What are the VHFA purchase price limits?
For MOVE and MOVE MCC the limit is $450,000 for one unit and $500,000 for two units in every county, and ADVANTAGE allows $550,000 for one to two units, as of July 1, 2026.
What credit score do I need for VHFA?
VHFA’s minimum credit score for all borrowers is 640–680, depending on the program.
Does Vermont offer a Mortgage Credit Certificate?
Yes. VHFA’s MCC is a federal tax credit of up to 50% of the mortgage interest paid each year, capped at $2,000 per year, for as long as you live in the home and hold the original first mortgage.