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VHFA 1st Time Home Buyer Down Payment Assistance Program!

Vermont Real Estate VHFA First Time Home Buyer Down Payment Assistance ProgramVHFA Vermont Housing Finance Agency

Governor Shumlin recently joined leaders from VHFA, the Vermont Legislature and the business community to launch a bold new effort to help the state's first-time home buyers. Each qualified buyer will receive up to $5,000 for down payment and closing costs. There is mounting evidence that the escalation of these costs in recent years, combined with other economic hardships lingering from the recession, are preventing many young Vermonters from buying their first home.

The new program will provide first-time home buyers who use a VHFA mortgage with up to $5,000 that needs repayment only if the home is sold or refinanced. "Because our typical customer is buying their first home and is eight years younger than the average home buyer statewide, VHFA is a great vehicle for reaching those households struggling most to save for a home," explained Sarah Carpenter, VHFA's Executive Director. Nationally the recession reduced homeownership rates by 15% among young people (aged 35-44) - far more than among older age groups, according to the Census.

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This is an amazing opportunity for 1st time home buyers! For more info about the new down payment assistance program (called the "ASSIST loan"), please visit There you will also find a list of participating lenders such as Vermont Federal Credit Union, Northfield Savings Bank and Union Bank.

This is also a great time for SELLERS if you have a home you think might make a good "Starter Home" for these lucky buyers! Contact us for a FREE Market Analysis to help determine the value of your home!

We at LipVT are your local experts when it comes to home buyers making their very 1st investment in real estate! Please visit us at or give us a call at 802-846-9575 to learn more about this dynamic marketplace and the terrific opportunities for buyers and sellers.