Home Possible® Very-Low Income Purchase (VLIP) Mortgages Credit

A new $2,500 mortgage credit for qualifying Home Possible® Mortgages can help you achieve the dream of homeownership and is a great option to consider.

How to Get Started

Contact a Business Development Mortgage Originator to learn more.

585.336.1502  CONTACT US

Home Possible® Very-Low Income Purchase (VLIP) Mortgages Credit has the potential to provide a $2,500 mortgage credit for qualifying, lower income Home Possible® mortgages with household incomes that do not exceed 50% of the Area Median Income (AMI). The full amount of the Home Possible VLIP Mortgage Credit must be used for down payment and/or other closing costs.

The Home Possible VLIP Mortgage Credit is available on a limited basis for qualifying Home Possible mortgages where at least one Borrower is a First-Time Homebuyer with settlement dates on or after March 1, 2025 and on or prior to February 28, 2026.

How to Get Started

Speak with an ESL Mortgage Originator

Interested members should reach out to an ESL Business Development Mortgage Originator (585.336.1502) and get prequalified or submit an application to purchase their first home.

Eligible Properties

Owner-occupied, single-family home, condominiums, 2–4 family homes, modular homes, and Planned Unit Developments (PUDs).

Ineligible Properties

Properties that are not eligible for this program include: manufactured homes, second homes (including vacation homes), cooperative housing (Co-Ops), property used for agriculture, farming or commercial enterprise, vacant land, or investment property.

Income Limits & Mortgage Eligible Counties

Property must be located in one of the following counties within the State of New York and the total household income for that county cannot exceed 50% of the AMI:

County Income Limit
Albany $58,050
Allegany $44,250
Broome $47,250
Cattaraugus $44,250
Cayuga $44,250
Chautauqua $44,250
Chemung $40,950
Chenango $44,250
Clinton $47,150
Columbia $56,550
Cortland $46,100
Delaware $44,250
Dutchess $61,500
Erie $50,500
Essex $45,950
Franklin $44,250
Fulton $44,250
Genesee $48,450
Greene $52,150
Hamilton $47,150
Herkimer $44,500
Jefferson $41,700
Lewis $44,250
Livingston $51,950
Madison $52,050
Monroe $51,950
Montgomery $44,750
Niagara $50,500
Oneida $44,500
Onondaga $52,050
Ontario $51,950
Orange $61,500
Orleans $52,550
Oswego $52,050
Otsego $45,600
Putnam $62,350
Rensselaer $58,050
St. Lawrence $44,550
Saratoga $58,050
Schenectady $58,050
Schoharie $58,050
Schuyler $45,850
Seneca $46,950
Steuben $45,650
Sullivan $52,850
Tioga $47,250
Tompkins $61,050
Ulster $59,900
Warren $50,000
Washington $50,000
Wayne $51,950
Wyoming $45,900
Yates $44,400