First-Time Homebuyer Assistance Programs for 2024 in Vermont

Last Updated on August 23, 2023 by Hannah Stevens

Mortgage Assistance for Homebuyers in Vermont

Vermont First-Time Homebuyers Program

Residents of Vermont who want to buy their first home can choose from a variety of options when shopping for loans. Therefore, it is important to understand the various mortgage options.

Vermont does not have down payment programmes like the first-time homebuyer assistance programs in Utah.

FHA Loans

The Federal Housing Administration insures FHA loans and protects lenders against financial risk. The loan requires a low down payment 3.5%, making them an attractive option for young, first-time homebuyers. These are the ones who have not had a lot of time to save for a hefty down payment or establish a high credit score.

Click the link to APPLY TODAY.

Conventional Mortgage 

Conventional loans are mortgages that are not guaranteed by the government (such as FHA). Therefore, these mortgages may have fixed or adjustable rates, and typically require a downpayment of 20% or more. Conventional loans can also conform to Freddie Mac and Fannie Mae guidelines. This also makes them “conforming” loans, so that can be backed by either agency.

VA Loans

VA Home Loans are accessible through or funded by the Veterans Affairs Department. These are available for veterans, eligible spouses, and service members. Furthermore, these loans usually have a low interest rate, and are available to all qualified borrowers without money down.

Click the link to APPLY TODAY.

USDA Loans

The United States Department of Agriculture’s (USDA) Rural Department offers USDA-backed mortgages to build healthy and sustainable rural communities. These loans are for low- and moderate-income residents to get safe and affordable housing.

Click the link to APPLY TODAY.

Are you interested in the First-Time Homebuyer Assistance Programs in Virginia?