Today's 30-year mortgage rate in Vermont is 6.60%, lower than the national average of 6.83%. Vermont homebuyers can access programs such as MOVE and ASSIST Down Payment and Closing Cost Assistance, which help reduce mortgage expenses.
Mortgage
Today's Mortgage Rates in Vermont (December 2024)
Updated: December 13, 2024
Advertising & Editorial Disclosure
MoneyGeek uses publicly available data from Zillow for the rates on this page. Mortgage rates shift daily, and we take a snapshot of rates to analyze rate information for Vermont. We update the data frequently to ensure you have access to the most recent rates, but the values may differ slightly between reporting sources. Unless specifically noted otherwise, rates featured in the content are annual percentage rates (APRs).
This data was last updated in December 2024.
Current Mortgage Rates in Vermont
In December 2024, the average APR for a 30-year fixed-rate mortgage in Vermont is 6.60%, up from 6.59% in November. For a $250,000 loan with a 20% down payment, this slight rate hike could add about $2,863 in total interest over the life of the loan, excluding property taxes and HOA fees.
Rates shift frequently due to changing economic conditions and Federal Reserve actions. The line chart below shows the recent month-to-month changes in mortgage rates.
Even small changes in mortgage rates can significantly impact your finances. Understanding the current rates in Vermont can help you budget by giving you a clear picture of your potential monthly payments.
Who Needs to Know Current Mortgage Rates in Vermont?
Knowledge of today's mortgage interest rates in Vermont benefits two borrower types in the dynamic housing market:
First-time homebuyers
First-time homebuyers benefit from knowing current mortgage rates, allowing them to assess offers and find competitive rates.
Homeowners with mortgages
Homeowners can compare current rates to their own, potentially saving money through a mortgage refinance.
Purchase rates and refinance rates differ. In Vermont, the average APR for a 30-year fixed mortgage to buy a home is 6.60%. Refinancing has a higher average APR of 6.85%.
SEE CURRENT MORTGAGE RATES IN NEIGHBORING STATES
Current Mortgage Rates in Vermont by Loan Type
A 30-year fixed-rate mortgage typically has a higher rate than a 15-year one because lenders face more risk over a longer period, with increased potential for rate changes and defaults.
When exploring mortgage types in Vermont, the rates you find will influence your monthly payments. Using a mortgage calculator can help you understand how different rates impact your loan, giving you a clearer picture of your long-term costs.
Data filtered by:Results filtered by:
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Loan Type:15-Year Fixed
| 5.73% | 5.87% |
INTEREST RATE VS. APR: WHAT'S THE DIFFERENCE?
An interest rate on a mortgage is the percentage you pay annually on the money you borrow. Vermont's average interest rate for a 30-year fixed mortgage is 6.52%.
An APR (annual percentage rate) includes the interest rate and additional fees, such as mortgage points and lending fees. The average APR for a 30-year fixed mortgage in Vermont is 6.60%, providing a clearer picture of your mortgage's total yearly cost.
Current Mortgage Rates in Vermont by Credit Score
In Vermont, with a credit score of 740 or higher and a down payment between 5% and 20%, the average APR for a 30-year fixed mortgage is 7.01%. Should your score drop below 680, the average APR climbs to 7.82%.
Your credit score affects the mortgage rates you might qualify for. Look at the table below for the rates applicable to you based on your credit score and down payment.
Data filtered by:Results filtered by:
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Credit Score Range:740 or higher
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Down Payment:5% to 20%
| 15-year Fixed | 6.24% |
| 30-year Fixed | 7.01% |
| 5-year ARM | 7.80% |
Mortgage Types in Vermont
In December 2024, VA loans have the lowest average APR for 30-year fixed-rate mortgages in Vermont at 6.22%. Understanding your options can help you make a smart choice for your future home financing needs.
Mortgage Type | Definition | Impact on Rates | 30-Year Rates in Vermont |
|---|---|---|---|
Conventional loans | A conventional loan isn't insured or guaranteed by the government. | Credit score and down payment affect rates. | 6.60% |
FHA loans | FHA loans are backed by the Federal Housing Administration, favoring those with lower credit scores. | Rates are typically lower for borrowers with less credit history or lower scores. | 6.66% |
VA loans | A VA loan is supported by the Department of Veterans Affairs for service members. | Rates can be competitive due to government backing, especially for qualified veterans. | 6.22% |
USDA loans | USDA loans cater to rural home buyers and are guaranteed by the U.S. Department of Agriculture. | Rates may be lower due to government backing, but specific eligibility is required. | currently unavailable |
Jumbo loans | A jumbo loan exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. | Rates may be higher due to the larger loan amounts and increased lender risk. | 6.54% |
MORTGAGE RATE STRUCTURES IN VERMONT
Mortgage rates fall into two categories: fixed and adjustable.
- Fixed rates make monthly mortgage payments stable. You'll have a predictable budget over time.
- Adjustable rates can shift up or down, potentially lowering your initial payments compared to fixed rates.
As of December 2024, the average APRs in Vermont are 6.60% for a 30-year fixed mortgage and 7.49% for a seven-year adjustable-rate mortgage.
Mortgage Lenders in Vermont
U.S. Bank, Better and Rocket Mortgage are strong mortgage options in Vermont. These lenders are available in the state, accredited by the Better Business Bureau (BBB) and offer homeowner assistance programs. While these options are reliable, there are other lenders in Vermont to consider.
The mortgage rate you receive depends on the lender and the options they offer. You can secure the best deal for your needs by comparing rates from multiple lenders.
- U.S. Bank
- 6Number of Mortgage Options
- YesOnline Application
- NRBBB Rating
- Monday to Friday, 7 am to 8 pm CT Saturday, 8 am to 2 pm CTCustomer Service Hours
U.S. Bank offers a range of mortgage options, including conventional and FHA loans. FHA loans require a minimum credit score of 640, while conventional loans start with a 3% down payment and FHA loans with 3.5%.
Customer service is available Monday through Friday from 7 a.m. to 8 p.m. CT and Saturdays from 8 a.m. to 2 p.m. CT. Support is accessible via video, phone and in-person meetings.
U.S. Bank also provides forbearance and loan modification options as part of its assistance programs. It's the top HELOC lender for borrowers with bad credit in most states.
Pros
- Online prequalification available
- Mortgage assistance options
- Client credits with qualifying accounts
Cons
- BBB rating not assigned yet
- Limited branch availability
- Physical presence in just 27 states
- Better
- 4Number of Mortgage Options
- YesOnline Application
- B+BBB Rating
- Monday to Friday, 8 am to 9 pm ET Saturday and Sunday, 9 am to 9 pm ETCustomer Service Hours
Better offers fixed-rate and adjustable-rate mortgages exclusively online. Fixed rates ensure stable monthly payments, while adjustable rates may start lower but can change over time. Conventional loans require a minimum credit score of 620, while FHA loans require at least 580. Down payments range from 3% to 5%, except for FHA loans, which start at 3.5% or rise to 10% for lower credit scores.
Customer service is available via phone or email on weekdays from 8 a.m. to 9 p.m. ET and on weekends from 9 a.m. to 9 p.m. ET. Vermont residents can also benefit from the Better Real Estate discount, an assistance program that eases the path to homeownership.
Pros
- Loan consultants don't earn a commission
- Offers fast loan commitment letters
- Sunday customer support available
Cons
- No physical branches, only online service
- Loan advisor call necessary
- B+ rating from BBB
- Rocket
- 4Number of Mortgage Options
- YesOnline Application
- A+BBB Rating
- Monday to Friday, 8:30 am to 9:00 pm ET Saturday, 9:00 am to 4:00 pm ETCustomer Service Hours
Rocket Mortgage offers conventional and FHA loans, accommodating various credit scores and down payment needs. Conventional loans require a minimum credit score of 620, while FHA loans need at least 580. FHA loans allow down payments as low as 3.5%, and conventional loans start at 3%.
Customer service via phone or chat is available Monday to Friday from 8:30 a.m. to 9 p.m. ET and Saturdays from 9 a.m. to 4 p.m. ET. Rocket Mortgage supports homeowners with programs like HomeReady, HomePossible, and Freddie Mac's BorrowSmart Access, helping borrowers achieve homeownership.
Pros
- Online prequalification available
- Homebuyer programs with major agencies
- Downpayment assistance with ONE+
Cons
- No physical locations
- No USDA loans
Mortgage Programs in Vermont
Owning a home involves hidden costs beyond the monthly payments. You can get help from the Vermont Housing Finance Agency, which provides mortgage programs that help ease the financial burden of homebuying.
Program | Description |
|---|---|
MOVE | Provides 30-year fixed-rate mortgages with down payments as low as 0%. It may also cover down payments and closing costs and provide up to $825 in Vermont Property Transfer Tax savings. A minimum credit score of 640 and adherence to income and price limits are required. Restrictions apply to previous homeowners in select counties. |
MOVE MCC | Enhances MOVE with low down payments, assistance options and a federal tax credit of up to $2,000 annually. Eligibility requires a minimum credit score of 640, adherence to income and price limits and compliance with rules for previous homeowners in certain areas. |
ADVANTAGE | Offers a 30-year fixed-rate mortgage with minimal down payments. It provides support for down payments, closing costs and property transfer tax savings but excludes the annual tax credit for simplicity. Eligibility depends on income and credit qualifications. |
ASSIST Down Payment and Closing Cost Assistance | Provides first-time buyers with a 0% interest loan, repayable upon selling the home, with no monthly payments. Borrowers can access $10,000 to $15,000, depending on income. This program is not available for VA loans. |
Mortgage Credit Certificate (MCC) | Offers homebuyers a federal tax credit of up to $2,000 annually, available as long as mortgage interest is paid. It works with MOVE MCC or mortgages from VHFA-approved lenders. Buyers must meet specific eligibility criteria. |
FAQ: Mortgage Rates in Vermont
Understanding today's mortgage rates in Vermont can be confusing. We answered common questions about the current rates to make homebuying easier for you.
What are the current mortgage rates in Vermont?
Current average APRs in Vermont vary by loan type. As of December 2024, the average APR for a 30-year fixed conforming loan is 6.60%, while a seven-year adjustable-rate mortgage jumbo averages 7.09%.
How do mortgage rates in Vermont compare to national rates?
Mortgage rates in Vermont differ from national averages. The current state average APR for a 30-year fixed-rate mortgage is 6.60%, lower than 6.83% nationally. For a 15-year fixed-rate mortgage, Vermont's average APR is 5.87%, also below the national average of 6.12%.
How does my credit score impact the mortgage rates I get in Vermont?
A higher credit score can lead to lower mortgage rates since lenders view borrowers with strong credit histories as less risky.
Are there any special mortgage programs in Vermont to help homebuyers?
Several mortgage programs in Vermont assist homebuyers, such as MOVE, MOVE MCC, and the ASSIST Down Payment and Closing Cost Assistance program.
How can I get the best possible mortgage rate in Vermont?
To secure the best mortgage rate in Vermont, consider improving your credit score, comparing offers from different lenders and making a larger down payment to reduce the loan-to-value ratio.
What are today's mortgage refinance rates in Vermont?
Today's average refinance rates in Vermont as of December 2024 are 6.85% for a 30-year fixed and 6.33% for a 15-year fixed loan.
How do I calculate my mortgage payments?
To calculate your mortgage payments, use a mortgage calculator for Vermont, which will help you estimate your monthly payments based on the loan amount, interest rate and term.
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.
sources
- Vermont Housing Finance Agency. "Homebuyers." Accessed December 13, 2024.