Middlebury, VT Mortgage Rates today
Vermont's picturesque landscapes, sense of community, and serene living make it an ideal destination for homebuyers. With a low crime rate and excellent schools, it offers a high quality of life. To make your Vermont home dreams a reality, remember to compare our current rates and secure an affordable mortgage for your dream property.
If you have any questions about securing the best mortgage rates in Vermont, please contact us today. We are here to assist you in finding the mortgage rates that best suit your needs.
Compare today's mortgage rates for Middlebury, VT
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6.000%
6.741% APR
$3,038/mo
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6.750%
7.237% APR
$2,335/mo
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6.125%
7.155% APR
$2,375/mo
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6.500%
7.320% APR
$2,275/mo
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5.750%
6.473% APR
$2,127/mo
infoLatest revision - December 30 2024 12:30pm EST.We update the table twice every day with the current mortgage rates.
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Frequently Asked Questions
What is the average mortgage rate in Vermont?
As homebuyers, it is critical to verify mortgage rates in Vermont. Not only do these influence the percentage of housing expenditures that must be borrowed or refinanced in Vermont, but they also directly impact total living expenses for Vermont homeowners.
What are the current mortgage rates in Vermont?
The current mortgage rates Vermont are presented above. These are updated at least twice each day.
Where can Vermont residents find the best mortgage rates?
Whether you aim for a basic Vermont first-time home buyer grant, the key to success lies in your attention to all factors. You can compare and evaluate the Vermont mortgage rates at our site to get the best rates.
Vermont first-time homebuyer programs
VHFA MOVE program
The Vermont Housing Finance Agency's MOVE program boasts some of the lowest available loan rates for home buyers. Qualified applicants may obtain down payments as low as 0-5% of the purchase price. The program can be clubbed with the supplementary Vermont down payment assistance for further substantial upfront savings. You can also save about $825 from Vermont's transfer tax.
Necessities for borrowers:
- It is mandatory that the buyer be a first-time home buyer in Vermont to buy a property in Addison, Bennington, Chittenden, Grand Isle, or Windsor counties.
- A minimum credit rating 640 is mandated, although higher scores may occasionally be imperative depending on the lender's stipulations.
- Completion of a pre-purchase education course is obligatory.
- Annual income must meet VHFA constraints, which vary by household size, county, and loan type and range from $100,000 to $140,000.
Stipulations for the property:
- Single-family residences, condos, duplexes, and some manufactured homes on owned land.
- It must be situated in Vermont.
- It must serve as the primary place of residence.
- The purchase price cannot surpass changing VHFA restrictions that vary by county and property classification, ranging between $400,000 and $450,000.
VHFA Advantage program
If you do not meet the above MOVE requirements, the VHFA's Advantage program is available, and it may suit your needs. The first-time home buyer VT has comparatively higher income & purchase price restrictions—a $130,000 income limit ($160,000 for households of 3 or more residents) and a $475,000 price across all counties. Requirements are comparable to those of MOVE: At least 640 credit score is needed.
Vermont down payment assistance
VHFA ASSIST down payment assistance
The ASSIST program, administered by the Virginia Housing Development Authority, offers up to $15,000 as closing costs and down payment assistance. This zero-interest, zero-monthly payment loan is available to qualified applicants approved for VHFA's Move and Advantage mortgage choices. Home buyers must refund the entire amount if they sell their home or refinance the original primary mortgage.
To be deemed an appropriate recipient, one must finish the requisite homebuyer education and conform to the pertinent income and purchase price constraints linked to the underlying primary loan vehicle utilized. Moreover, candidates cannot have in excess of $30,000 in readily accessible funds.
First-Generation Homebuyer Assistance
First-generation homebuyers may be entitled to VHFA grants, which can be used to pay down payments and closing costs. The VHFA defines a first-generation home buyer as someone who:
- Your parents or legal guardians have not once owned from their own homes.
- Your parents or legal guardians lost their residence to a foreclosure.
- You have grown up in foster care.
These first-time home buyer programs Vermont will remain available until they are used up on a first-come-first-served basis. The funds can be combined with the loan received from the ASSIST program.
Other Vermont Homebuyer Programs
You should also evaluate other programs for Vermont first-time home buyers. For individuals with limited earnings or low credit histories, federally backed alternatives, including FHA, VA, and USDA loans, may smoothly facilitate achieving the homeownership dream.
Mortgage credit certificate (MCC)
Vermont offers its residents a mortgage credit certificate (MCC) if you are:
- A first-time home buyer VT.
- Veterans.
- People keen to own a home in targeted areas.
A tax credit will lower your mortgage interest up to $2,000 per year. All qualifiers have income limits: $100,000-$140,000, depending on household members and counties lived. The purchase price limit is between$400,00 and $450,000.
HFA MOVE MCC
The MOVE Mortgage with an OPTION OF Mortgage Credit certification: The VHFA program mortgages the advantages of an MCC with MOVE's mortgage choice. You save transfer taxes, have lower down payments on homes and chattels, and cut mortgage insurance. It can also be combined with the VHFA down payment aid ASSIST program.
Burlington: Community & Economic Development Office and Champlain Housing Trust
If you are earning low- or moderate-income and wish to buy a duplex in Vermont's largest city you can get a down payment assistance of $10,000. It has no interest and is a deferred loan. However, to be eligible to be a landlord, you must live in one of the units. The program funds two-, three- ---, and four-bedroom units in the Old North End, Lakeside, or King St with the required income of eligible families. All buyers can avail of this loan with priority for Vermont first-time home buyers.
Inclusion of a program on this website does not constitute an endorsement by Total Mortgage and does not guarantee your eligibility or approval for the program.
*Terms and Conditions Apply. For complete details click here.
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Mortgage rates are volatile and subject to change without notice. All rates shown are for 30-day rate locks with two and a half points for a single family owner-occupied primary residence with 750 or higher FICO and 80 LTV over a 30-year loan term except where otherwise noted and are subject to mortgage approval with full documentation of income. The APR for a 30-year and 15-year conventional fixed-rate mortgage loans are calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, a $10 flood certification fee, and a $82 credit report fee.* 15-year conventional mortgage rates are calculated with a 15-year loan term.* The APR for jumbo mortgage rates is calculated using a loan amount of $500,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee, and a $82 credit report fee.* The APR for FHA mortgage rates is calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee, and a $82 credit report fee. Some rates and fees may vary by state.* The APR for adjustable rate mortgages (ARMs) is calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee and a $82 credit report fee. Some rates and fees may vary by state. Products are subject to availability on a state-by-state basis. By refinancing your existing loan, your total finance charge may be higher over the life of the loan.
