First Generation Homebuyer Program

VERMONT - Vermont Housing Finance Agency announces the launch of the First Generation Homebuyer Program, with a goal of helping more Vermonters afford their first home. This program provides a grant to eligible homebuyers whose parents or legal guardians were likely unable to pass on the generational wealth homeownership can provide.
This pilot program is modeled after a federal proposal and provides a $15,000 grant for down payment and closing cost assistance. To be eligible, all borrowers and non-borrowing spouses must be true first-time homebuyers. In addition, the parents or legal guardians of one borrower may not currently own a home, or one borrower has been placed in foster care at any time in their life. Other credit, income, asset, and property eligibility requirements apply.
All Vermonters who meet the eligibility requirements are encouraged to apply. The Vermont law enacting this program places specific emphasis on marketing and outreach to organizations and agencies that serve and represent Black, Indigenous, and people of color.
The First Generation Homebuyer Program is available exclusively for people using a VHFA mortgage through one of the following participating pilot lenders: Academy Mortgage Company, Fairway Mortgage Company, Heritage Family Credit Union, M&T Bank, National Bank of Middlebury, New England Federal Credit Union, Opportunities Credit Union, Peoples Trust Company, Union Bank or Vermont Federal Credit Union.
Interested homebuyers should start by visiting or by contacting a VHFA First Generation Homebuyer Program participating lender directly to ask if they qualify.

The Deerfield Valley News

797 VT Route 100 North
Wilmington, VT 05363

Phone: 802-464-3388
Fax: 802-464-7255

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