Who qualifies for the VLIP program?

• Available for purchase transactions on primary residence one- to four-unit homes, condominiums, cooperatives, manufactured homes, or planned unit developments.
• Income must be at or below 50% of the area median income (AMI) for the property’s location.
• If all occupying borrowers are first-time homebuyers, at least one must complete an online homeownership education course.
• The loan-to-value (LTV) ratio cannot exceed 97%.

VLIP Program Benefits:

• Use the $2,500 credit to save money by reducing your down payment or closing costs.
• The credit can help you cover your minimum contribution, which is 3% for Fannie Mae’s HomeReady program and 3% or 5% for Freddie Mac’s Home Possible program, depending on your property type and LTV ratio.
• Learn how to prepare for and sustain homeownership through online education and counseling, giving you the tools you need to succeed.

Ready to get started on your journey to homeownership? The VLIP program is here to help!

Effective 1/28/26. Product guidelines & availability are subject to. At least one borrower must be a first-time homebuyer. Must meet minimum borrower contribution and credit score requirements.