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, 2026 and on or prior to February 28, 2027.

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:

Income Limits & Mortgage Eligible Counties
County Income Limit
Albany $61,550
Allegany $44,950
Broome $44,300
Cattaraugus $44,950
Cayuga $44,950
Chautauqua $44,950
Chemung $44,900
Chenango $44,950
Clinton $47,700
Columbia $58,400
Cortland $46,450
Delaware $44,950
Dutchess $62,950
Erie $50,750
Essex $47,100
Franklin $44,950
Fulton $44,950
Genesee $48,600
Income Limits & Mortgage Eligible Counties
County Income Limit
Greene $53,250
Hamilton $47,100
Herkimer $49,250
Jefferson $43,300
Lewis $44,950
Livingston $53,500
Madison $53,400
Monroe $53,500
Montgomery $47,750
Niagara $50,750
Oneida $49,250
Onondaga $53,400
Ontario $53,500
Orange $62,950
Orleans $53,500
Oswego $53,400
Otsego $45,450
Putnam $63,700
Income Limits & Mortgage Eligible Counties
County Income Limit
Rensselaer $61,550
Saratoga $61,550
Schenectady $61,550
Schoharie $61,550
Schuyler $45,300
Seneca $48,400
St. Lawrence $44,950
Steuben $44,950
Sullivan $44,950
Tioga $44,300
Tompkins $59,000
Ulster $58,650
Warren $47,050
Washington $47,050
Wayne $53,500
Wyoming $46,050
Yates $44,950