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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|
*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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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 FHA||2.625%||2.500%||Not elegible||Not elegible|
|30-year FHA||3.000%||3.000%||Not elegible||Not elegible|
*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.
- 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.
- 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.
- 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:
- Vermont has the fifth-highest property taxes in the US at 1.9%.
- 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.
- Vermont had the third-highest increase in real home value in 2021, according to the First American Real House Price Index.
- 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.
- 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.
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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