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- Be a first-time home buyer in Vermont, unless you’re a buyer or buyer’s spouse who meets the VHFA requirement for veterans. Not exceed income limits, which is $100,000 – $140,000, depending on your household’s size and the county you live in. Not exceed purchase price limits, which range from $400,000 to $450,000.
www.rockethomes.com/blog/home-buying/first-time-home-buyer-vt
Oct 25, 2024 · The Vermont Housing Finance Agency (VHFA) 4 has three home buying assistance programs for first-time buyers: MOVE, MOVE MCC, and ADVANTAGE. Check your home buying eligibility in...
Jun 5, 2024 · A Vermont first-time home buyer can be: An individual and their spouse who haven’t owned a principal residence in a 3-year period before their purchase. A single parent who’s only owned with a former spouse while married.
No first-time homebuyer requirement unless using a VHFA down payment assistance program. Income limits and first-time homebuyer requirements apply to borrowers and non-borrowing spouses. All programs are paired with an eligible 30-year purchase mortgage (Fannie, Freddie, FHA, Rd, VA).
- Save for a down payment. 🔑 Key takeaway: Your down payment can be less than 20% of the purchase price — $75,145 for the typical home in Vermont — but you'll have to purchase mortgage insurance and pay more interest over the life of your loan.
- Find a great real estate agent in Vermont. 🔑 Key takeaway: Interview multiple agents to find one who knows your target neighborhoods, has experience in your price range, and communicates well.
- Get preapproved for a mortgage. 🔑 Key takeaway: Once you're preapproved for a mortgage, it's imperative that your financial situation doesn't change.
- Choose the right location. 🔑 Key takeaway: Search for neighborhoods where: Home prices are within your price range. Home values are on the rise. The local amenities support your lifestyle.
1. VHFA: MOVE and MOVE MCC. The MOVE program offers first-time homebuyers 30-year, fixed-rate mortgage loans with low down payments. To qualify, you must meet purchase price and income limits and have a minimum credit score of 640-680. At least one member of the purchase household must take a homebuyer education course.
Nov 13, 2024 · A few tips for 1st-time homebuyers. Be ready to for your home purchase, this article explains the homebuying process from finding a home, making an offer to closing on your new home and beyond.
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Are you a first-time homebuyer in Vermont? This comprehensive guide is your essential resource, offering specialized assistance programs and valuable information exclusively tailored for residents of the Green Mountain State.
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Simple online process. Each homebuyer treated like #1. Experts on your side at every step. Paddio makes buying or refinancing a home relaxed, easy and fast. The way it should be.