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Step 1
Combine all crust ingredients and firmly press with fingers into a 9-inch pie plate. Refrigerate for 1 hour before adding the filling.
Step 2
Using a stand or hand-held mixer, whip very cold cream cheese until fluffy. Then, pour in the sweetened condensed milk while continuing to beat until blended. Do not continue to beat too long or the mixture will become too thin. Add lemon juice and vanilla; beat until just combined. You may need to stop the mixer a few times and scrape down sides and give the mixture a good stir with a spatula. Pour mixture into prepared pie crust and refrigerate for 6-8 hours or overnight. I chill mine overnight for best results. The longer this pie is refrigerated, the better it will set up.
Step 3
Serve pie with cherry pie filling or other desired topping. Cover and store leftover pie in the refrigerator for up to 5 days.