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.

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.

ADVANTAGE is open to homebuyers who will live in the home as their primary residence. The program lists a minimum credit score of 640. A homebuyer education course is required, 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).

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.

ADVANTAGE caps the purchase price at $550,000.

ADVANTAGE serves homebuyers purchasing in Statewide County, Vermont.

Applications for ADVANTAGE go through Vermont Housing Finance Agency (VHFA), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.