Home Purchase Grants For VT 1st Time Buyers
First time home buyers in Vermont have some favorable programs available to them for help in purchasing their first residence. Among the most lucrative is a soft grant from the Vermont Housing Finance Agency (VHFA).
Vermont Homebuyer Grant Details
The VHFA grant is “soft,” rather and an outright “hard” grant. The difference being a hard grant is an outright, immediate gift of funds. The “soft” version starts out as a loan with no payments. However, that loan only has to be repaid when your sell your home. If you never sell, in effect, the loan becomes a grant.
Here are some details from the VHFA page:
Using an ASSIST loan with a VHFA loan can help Vermonters buying their first home clear this hurdle by providing up to $5,000 to help with down payment and closing costs. An ASSIST loan is a 0%, no-monthly-payment second mortgage that you must pay back only if you refinance or sell your home!
For complete details on this grant opportunity, including contact information and instructions on how to apply, please visit this VHFA page.
More VT First Time Buyer Grants
In addition to the above statewide grant offered by VHFA, there are local housing agencies in various cities throughout the state that provide financial assistance to 1st time property buyers as well. One such organization that provides grants to first time homebuyers in Vermont is the Windham & Windsor Housing Trust. They offer a grant of as much as $44,000 towards the purchase of your first home in Vermont. You can find grant details on their web page here.