Down Payment Assistance Loan (NeighborWorks of Western Vermont)

Down Payment Assistance Loan (NeighborWorks of Western Vermont) is a repayable second loan for homebuyers in Rutland, Vermont, administered by NeighborWorks of Western Vermont (NWWVT). A second-mortgage down payment assistance loan of up to $50,000 (or 20% of purchase price, whichever is lower), available to all qualified borrowers in Vermont. Structured as a 15-year fixed-rate loan at 2% above the first-mortgage rate, paired with a partner lender for up to 100% financing with no PMI. Can combine with VHFA ASSIST and Freddie Mac Home Possible Advantage. Up to $50,000 (or 20% of purchase price); avoids 20% down and eliminates PMI; up to 100% financing via partner lenders; no prepayment penalty; layerable with VHFA ASSIST. Funding comes from NeighborWorks of Western Vermont (VT Licensed Lender #6200, NMLS #194008).

Down Payment Assistance Loan (NeighborWorks of Western Vermont) offers up to $50,000 in assistance. Award tiers: 15-year term; rate set at 2% above the first mortgage rate; up to $50,000 or 20% of purchase price, whichever is lower. Amounts are the program's published maximums, not an offer — NeighborWorks of Western Vermont (NWWVT) determines any individual award.

Down Payment Assistance Loan (NeighborWorks of Western Vermont) is a repayable second loan and is repaid under the terms set by NeighborWorks of Western Vermont (NWWVT). Repayment is triggered by Amortizing 15-year repayment (monthly payments). The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Down Payment Assistance Loan (NeighborWorks of Western Vermont) is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through NeighborWorks of Western Vermont HomeOwnership Center. Distinct agency from VHFA 'Down Payment Assistance Loan' already in catalog. DPA rate variable (1st-mortgage rate + 2%). Income limits not stated ('all qualified borrowers').

Down Payment Assistance Loan (NeighborWorks of Western Vermont) serves homebuyers purchasing in Rutland, Vermont.

Applications for Down Payment Assistance Loan (NeighborWorks of Western Vermont) go through NeighborWorks of Western Vermont (NWWVT), 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.