Fannie Mae and Freddie Mac recently announced an extension to the VLIP credit through February 28, 2026, but on all deliveries on or after February 28th, 2025, the credit will be limited to first-time homebuyers only.
Due to this change, loans utilizing the VLIP credit for borrowers that are non-first-time homebuyers, must be delivered and purchased by PHH prior to January 28th, 2025. VLIP non-first-time homebuyers will not be reimbursed the $2500 credit if purchased after that date.
If you have any questions, please contact your Correspondent Specialist, Sales Executive/Correspondent Sales Representative, or contact us via the support line at 1-800-929-4744.
Thank you for your continued business.
Coming soon – PHH Mortgage is changing its name!
