First Time Homebuyer

There are many affordable programs available for first-time buyers in Vermont. NEFCU will help ensure that you get the loan that’s right for you.

Contact us today. Your NEFCU loan officer will review the program choices and help you decide which loan is best for you.

All Mortgage Rates & Terms

Institutional ID # 446767

Programs

NEFCU’s HOME Program

A choice of a 5/1, 5/5 or 7/1 Adjustable Rate Mortgage priced below our fixed rate with flexible underwriting guidelines and reduced monthly mortgage insurance. Servicing of the loan will stay with NEFCU after closing.

Champlain Housing Trust (CHT)

A 30-year fixed rate loan where CHT offers down payment grants to qualified buyers in exchange for shared equity in the property. Servicing of the loan will stay with NEFCU after closing.

FHA Loans

A reduced fixed rate with lender paid customary closing costs that has flexible credit and underwriting guidelines. Servicing of the loan will be transferred to Nationstar Mortgage.

Vermont Housing Finance Agency (VHFA)

A competitively priced fixed rate mortgage with reduced closing costs. Income and purchase price limits apply. Servicing of the loan will be transferred to US Bank after closing. 


Rural Development (RD)

A type of mortgage that can be partnered with a VHFA loan to finance 100% of the purchase price with no monthly mortgage insurance. Servicing of the loan will be transferred to US Bank. 

Home Possible Advantage

A 30 year fixed rate loan with a 3% minimum down payment, which can come from a gift. Lower closing costs than other fixed rate loans. Servicing of the loan will stay with NEFCU after closing.