Buying a Home?

 

National Bank of Middlebury is proud to offer grant funds on a first-come, first-served basis to assist eligible homeowners with up to $11,000 in down-payment and closing costs.

The Program is available to households with incomes at or below 80 percent of HUD Area Median Income based on the property location. Please see below for 2018 eligibility limits:

Addison County

  • 1 person: $42,500
  • 2 people: $48,550
  • 3 people: $54,600
  • 4 people: $60,650

Chittenden County

  • 1 person: $50,350
  • 2 people: $57,550
  • 3 people: $64,750
  • 4 people: $71,900

Rutland County

  • 1 person: $40,250
  • 2 people: $46,000
  • 3 people: $51,750
  • 4 people: $57,500

Details & Conditions

  • Recipients must attend homebuyer education counseling program.
  • First time homebuyers or those who have not owned a home in the last three years are eligible.
  • Must be combined with a Vermont Housing Finance Agency first mortgage loan.
  • Homebuyer must contribute $500 towards down payment.
  • Single-family, owner-occupied units that are intended as the primary residence of the home buyer. Eligible units include owner-occupied 1-4 family properties, townhouses or condominiums and modular homes.
  • Property must be located in National Bank of Middlebury lending area.
  • Grants are subject to a five-year retention agreement to ensure that properties are retained as affordable.

Interested?

Please contact the Bank at 877-508-8455!

 

Member of and funded by FHLB Boston.