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ADVANTAGE

Vermont Housing Finance Agency (VHFA) · Statewide County, Vermont

Last verified
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Income limit

$180,000

The household income limit the program publishes

Price cap

$550,000

Highest purchase price the program allows

What is ADVANTAGE?

ADVANTAGE is a first mortgage for homebuyers in Statewide County, Vermont, administered by Vermont Housing Finance Agency (VHFA).

  • ADVANTAGE is VHFA's first-mortgage product with the agency's highest income and purchase-price limits. No first-time homebuyer requirement unless the borrower uses a VHFA down payment assistance program. Pairs with FHA, VA, USDA, or Conventional financing.
  • VHFA's highest income/purchase price limits; no first-time homebuyer requirement (unless using VHFA DPA); down payment as low as 0%-5%; can layer with First Generation grant.
  • Funding comes from Vermont Housing Finance Agency.

Do you have to pay it back?

ADVANTAGE is a first mortgage and is repaid under the terms set by Vermont Housing Finance Agency (VHFA).

  • The assistance is recorded in First position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

ADVANTAGE is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A minimum 640 credit score
  • A completed homebuyer education course, through VHFA-approved homebuyer education provider (at least one borrower)
  • First-mortgage product; DPA-specific fields N/A. 4-person income limit = $180,000 (3+ bracket).

The program excludes

  • Purchases above the $550,000 price cap
  • Households above $180,000

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

ADVANTAGE limits household income to $180,000.

  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

ADVANTAGE caps the purchase price at $550,000.

Where does it apply?

ADVANTAGE serves buyers purchasing in Statewide County, Vermont.

How do you apply?

Applications for ADVANTAGE go through Vermont Housing Finance Agency (VHFA), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through VHFA-approved homebuyer education provider (at least one borrower).

  2. Contact Vermont Housing Finance Agency (VHFA) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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