Vermont First Generation Homebuyer Grant
$15,000
About the Program
First generation homebuyers may eligible for a $15,000 grant for down payment and closing costs! Eligible borrowers may combine this grant with VHFA ASSIST to receive up to $25,000 - $30,000 for down payment and closing cost assistance! Grants are available while funds last on a first-come, first-served basis.
What is the Definition of a First-Generation Homebuyer?
To be eligible, all borrowers (people on the loan) and non-borrowing spouses (if any) must be true first-time homebuyers, and have less than $20,000 in combined liquid assets.
In addition, at least one person taking title must:
1. Have parents or legal guardians who never owned a home in any state or country, or
2. Have parents or legal guardians who lost their home due to foreclosure and have not owned again, or
3. Be an individual who has at any time been in foster care.
Other credit, income, asset, and property eligibility requirements apply. The First Generation Program grant is available exclusively with a VHFA loan program (MOVE, MOVE MCC, and ADVANTAGE when available).
Contact a Participating Lender!
This grant opportunity is only available through certain local participating lenders. Contact a participating lender using the hyperlink above and ask if you are eligible. The grant may be reserved with a VHFA mortgage only after you find a home, sign a purchase and sale agreement, and the lender determines that you meet all of the eligibility requirements.
- $15,000 grant for down payment and closing costs
- May be combined with VHFA ASSIST and down payment assistance from other sources
- Borrowers and non-borrowing spouses must have NEVER owned a home before and have less than $20,000 combined liquid assets
- At least one person taking title must EITHER: have been placed in foster care at some point in their life, OR have parents or legal guardians who never owned or lost their home to foreclosure and have not owned again
Available exclusively with VHFA MOVE, MOVE MCC, or ADVANTAGE. Borrowers and non-borrowing spouses must meet eligibility requirements for selected VHFA Program. Other credit and property eligibility requirements apply. To pre-qualify and apply contact a VHFA Participating Lender!
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