Wed. Jan 20th, 2021

If you want to buy a house in Vermont, you are in good company. According to the US Census Bureau, Vermont owns a house 2018 American Community SurveyWith about 340,000 housing units And a homemade rate of 72%.

The median housing price of Vermont is $ 233,100, slightly higher than the national average price of $ 229,700. The value of a house varies across states.

US News’ 2020 Best Vermont Mortgage Lender

The lender
American news rating
3% Min. advanced payment
600 Min. credit score
The lender
American news rating
3% Min. advanced payment
620 Min. credit score
The lender
American news rating
3% Min. advanced payment
600 Min. credit score
The lender
American news rating
10% Min. advanced payment
620 Min. credit score
The lender
American news rating
3% Min. advanced payment
620 Min. credit score

Best for large loan amount

Bank of America serves approximately 66 million customers in all 50 states. The lender offers traditional, Federal Housing Administration, Department of Veterans Affairs and Jumbo loans, as well as home equity lines of credit and mortgage refinancing.

Lender highlights

  • Mortgage Type: ARM, traditional, FHA, first time homebuyer program, home equity lines of credit, refinance, VA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: $ 5 million
  • Better Business Bureau Rating: A +

Best counter

  • Different types of mortgages

  • Annual percentage rate or closing cost rebate for qualifying Bank of America and Merrill Lynch clients

  • No closing costs and no annual cash balance fees for balance transfers and HELOCs

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Best for low cost

Chase, one of the largest banks in the country, offers mortgage and refinance loans to qualified borrowers. Home equity loans and HELOC are also available.

Before you apply

  • Mortgage Type Offered: ARM, Traditional, FHA, Jumbo, Refinance and VA
  • Minimum FICO Credit Score: 620
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

Best counter

  • Accepts up to 3% down payment

  • Receives high marks from Better Business Bureau

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Best for product selection

Guild Mortgage, established in 1960, specializes in home loans and serves lenders around the country. The complete lender of products includes traditional and government-backed mortgages and home equity loans.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: Different
  • Better Business Bureau Rating: A +

Best counter

  • Receives strong customer service rating from Better Business Bureau

  • Offers a wide range of mortgage products

  • Offers exclusive mortgage programs for first time buyers and manufactured homebuyers

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Best for customer service

LoanDepot was founded in 2010 and has since funded over $ 70 billion in mortgages. It offers FHA, traditional and other mortgage options. Borrowers with a FICO credit score as low as 580 may qualify for a loan.

main characteristics:

  • Mortgage Type Offered: Traditional, FHA, VA, ARM, Refinance (Conventional), Refinance (FHA), Refinance (VA), Home Equity Loan
  • Minimum FICO Credit Score: 500 with conditions
  • Maximum debt-to-income ratio: 43% for FHA
  • Maximum combined debt-to-value ratio: 90%
  • JD Power Satisfaction Rating: Four out of five

Best counter

  • LoanDepot mortgages have a lifetime guarantee, meaning that if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fee and reimburse the appraisal fee.

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Best for product availability

Quick Loan is a nationwide mortgage lender with several mortgage options. Known for customer service, the lender has an A + Better Business Bureau rating and received a rating of five (out of the best) in the 2018 US Primary Mortgage Organization Satisfaction Study.

Highlight:

  • Mortgage Type Offered: ARM, FHA, VA, Refinance (FHA), USDA, Traditional, Refinance (Traditional)
  • Minimum FICO Credit Score: 580 (FHA), other loans vary
  • Maximum debt-to-income ratio: 60%
  • JD Power Satisfaction Rating: Five out of five

Best counter

  • The complete loan procedure is available online.

  • Wide variety of mortgage products.

  • Good customer service rating.

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Best for va loan

Giants United Home Loans provides mortgages to veterans and military families in all 50 states and Washington, DC, and specializes in VA loans. In 2019, Veterans United Home Loan generated the largest VA loan in the nation.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
  • Minimum FICO Credit Score: 660
  • Maximum loan amount: $ 1.5 million
  • Better Business Bureau Rating: A +

Best counter

  • No military service required

  • No minimum loan amount set

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What are mortgage rates in Vermont?

Average interest rate for a 30 year fixed rate Vermont has customizing mortgage 2.93%.

House interest rates Range from 2.63% Service 3.5% In Vermont.

What are today’s mortgage rates?

Loan type

Rate of this week

Last week rate

30-Year Fixed Rate Mortgage 3.01% 3.03%
15-Year Fixed Rate Mortgage 2.58% 2.56%
30-Year Fixed-Rate Jumbo Mortgage 3.03% 3.09%
5/1 ARM 3.04% 3.06%
5/1 Jumbo ARM 2.86% 2.87%

* Rates up to October 28, 2020

mortgage calculator

Are you reaching your dream home? US News’ mortgage calculator will show you how much home you can buy.

What are some Vermont homebuyer programs?

Vermont homebuyers can obtain assistance with down payment and closing costs or receive federal tax credits from these Vermont Housing Finance Agency (VHFA) programs.

  • available to: Vermont homebuyers eligible for purchase of primary residence.
  • Income Range: Different by county and household size (Revenue Range).
  • First time homebuyers ?: No.
  • Benefit: Low payment payment options, low mortgage insurance, VHFA ASSIST eligible when using traditional loans. At closing, buyers save up to $ 825 on the Vermont property transfer tax.

  • available to: Vermont homebuyers eligible for purchase of primary residence. Some locations may not use this program unless buyers have any ownership within 36 months prior to application.
  • Income Range: Different by county and household size (Revenue Range).
  • First time homebuyers ?: No.
  • Benefit: Low payment payment options, low mortgage insurance, VHFA ASSIST eligible when using traditional loans. At closing, buyers save up to $ 825 on the Vermont property transfer tax.

  • available to: Vermont homebuyers eligible for purchase of primary residence. Some locations may not use this program unless buyers have any ownership within 36 months prior to application.
  • Income Range: Different by county and household size (Revenue Range).
  • First time homebuyers ?: No.
  • Benefit: Low payment payment options, low mortgage insurance, VHFA ASSIST eligible when using traditional loans. Buyers save up to $ 825 on a Vermont property transfer tax upon closing and each year you receive up to a $ 2,000 federal tax credit to pay interest on your mortgage.

  • available to: Qualified Vermont with combined savings is not the first-time homebuyers and non-retirement assets of more than $ 30,000 that are using the VHFA Advantage, Move or Move program.
  • Income Range: Different by county and household size (Revenue Range).
  • First time homebuyers ?: Yes.
  • Benefit: Up to $ 5,000 to be used as a down payment or closing cost as a 0% interest loan with no monthly payment when you sell, refinance, or pay off your mortgage in full.

  • available to: A primary residence purchasable Vermont homebuyers. Some locations require no ownership within 36 months before applying.
  • Income Range: Different by county and household size (Revenue Range).
  • First time homebuyers ?: No.
  • Benefit: With a federal tax credit of up to $ 2,000 per year you pay interest on your mortgage.

Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising customers of US News. Advertising considerations can influence where offers appear on the site but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.

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