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Mortgage rates in Vermont

Interest rates on a 30-year $300,000 conventional mortgage start at around 3.125%

If you have a credit score between 700 and 719 and can put 5% down, you’ll generally pay about 3.250% for a 30-year conventional loan with a fixed interest rate on a $350,000 home. But how much interest you pay for your Vermont home will depend on several factors, including your credit score, loan amount and lender.

Rates were last checked on October 6 and are from the Consumer Financial Protection Bureau (CFPB) website.

Your credit score affects the rate you’ll get

People with higher credit scores generally get lower interest rates because lenders assume they’re less likely to stop paying a mortgage. Here are the most common interest rates in Vermont by mortgage amount, according to the Consumer Financial Protection Bureau (CFPB).

Credit score $200,000 mortgage $300,000 mortgage $400,000 mortgage $500,000 mortgage
620-639 3.875% 3.938% 3.750% 3.750%
640-659 3.750% 3.750% 3.625% 3.625%
660-679 3.500% 3.563% 3.500% 3.438%
680-699 3.250% 3.313% 3.250% 3.250%
700-719 3.250% 3.250% 3.188% 3.188%
720-739 3.125% 3.125% 3.125% 3.125%
740-759 3.125% 3.125% 3.000% 3.000%
760-779 3.125% 3.125% 3.000% 3.000%
780-799 3.125% 3.125% 3.000% 3.000%
800+ 3.125% 3.125% 3.000% 3.000%

*Based on a 10% down payment for a 30-year fixed-rate conventional mortgage

Interest rates vary by lender

Interest rates are affected by the economy and the federal funds rate, or the rate that banks charge each other for overnight loans. But they’re also affected by individual lenders, which can have differing overhead costs, profit margins and credit score requirements.

Comparing lenders can help you find the best deal. Select See rates to provide the company with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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Compare up to 4 providers

Interest rates also vary by loan type

The type of loan you get can also affect how much you pay for your Vermont home. 15-year mortgages generally offer lower interest rates than 30-year mortgages, and you’ll see different rates for conventional loans than government loans.

Loan type $200,000 mortgage $300,000 mortgage $400,000 mortgage $500,000 mortgage
15-year conventional 2.500% 2.375% 2.375% 2.375%
30-year conventional 3.250% 3.250% 3.188% 3.188%
15-year FHA 2.625% 2.500% Not elegible Not elegible
30-year FHA 3.000% 3.000% Not elegible Not elegible
15-year VA 2.938% 2.625% 2.625% 2.625%
30-year VA 3.250% 3.250% 3.125% 3.125%

*Based on a 10% down payment, fixed interest rate and 710 credit score

Research ahead of time to get the best rates

Put these tips to work to qualify for a better rate on your next mortgage.

  1. Look at different loan programs. Lenders typically have a range of loans to choose from, all with slightly different interest rates. Look at all your options and see which programs you may qualify for.
  2. Polish your credit profile. Lenders are looking for borrowers with a solid credit history. Pay down any existing debts and increase your credit score to become a more attractive borrower, which may qualify you for a lower rate.
  3. Remember closing costs. Some lenders offer a low rate for your mortgage but have really high closing costs. Vermont lenders usually charge anywhere from 1.18% to 1.48% of the sale price of the home in closing costs. Weigh your interest rate and closing costs together to see the full cost of a loan.

Home values in Vermont are forecast to increase

Vermont started 2021 with record increases in home values, and according to Zillow, that trend will continue into 2022. Rutland is expected to see the biggest rise at 12.2%, but most other cities will see increases between 4% and 8%. This is good news for homeowners in the state but not great for anyone already having trouble buying a home in a market with increasing prices and low inventory.

5 fast facts about the Vermont housing market

Keep the following in mind as you look for your Vermont home:

  1. Vermont has the fifth-highest property taxes in the US at 1.9%.
  2. This state’s cost of living is slightly under the national average, in part because the median housing cost is over $20,000 less than the US median.
  3. Vermont had the third-highest increase in real home value in 2021, according to the First American Real House Price Index.
  4. Vermont has had a huge influx of so-called “pandemic transplants,” out-of-state buyers looking to escape the big cities, which has made housing hard to find in the state.
  5. Vermont’s State Housing Authority programs mainly focus on rental assistance, but the agency does offer grants and zero-interest loans to homeowners interested in building accessory dwelling units on their properties.

Bottom line

Mortgage rates in Vermont vary by loan type, and factors like your credit score and lender affect what rate you get. But factors like your credit score and lender affect what rate you get. Compare mortgage lenders and programs to find one that best fits your homeownership goals.

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