Vermont Mortgage Calculator
The median home price in Vermont is $350,000. With a 20% down payment at the state's average 30-year fixed rate of 7.1%, your estimated all-in monthly payment (principal, interest, taxes, and insurance) is approximately $2,528. Vermont's property tax rate of 1.9% annually is above the U.S. national average of 1.07%.
A buyer earning Vermont's median household income of $74,000 would dedicate roughly 41% of gross monthly income to housing — significantly strained by the standard 28% guideline.
Median Home Price
$350,000
Avg 30-yr Rate
7.1%
Property Tax Rate
1.9%/yr
Est. Monthly PITI
$2,528
Mortgage Calculator
Total Monthly Payment
$2,527.52
Loan Amount
$280,000
Total Paid
$677,408
Total Interest
$397,408
How to Get a Mortgage in Vermont
- 1 Check your credit score. In Vermont, most conventional lenders require 620+; FHA allows 580+ with 3.5% down.
- 2 Save for your down payment. On a $350,000 Vermont home, 20% down is $70,000 — avoiding PMI and reducing your monthly payment.
- 3 Get pre-approved from 2–3 lenders. Rates in Vermont average 7.1%, but shopping lenders often saves 0.25–0.5%.
- 4 Account for closing costs — typically 2–5% of the loan amount, or $8,400–$14,000 on a median Vermont purchase.
- 5 Budget for ongoing costs: Vermont property taxes average 1.9%/yr ($6,650/yr on the median home), plus homeowner's insurance averaging $1.100/yr.
Monthly Cost Breakdown — Median Vermont Home
Excludes HOA fees, PMI (not required with 20% down), and utilities.
Vermont Mortgage FAQs
What is the average home price in Vermont?
The median home price in Vermont is $350,000 (2024 estimate). With a typical 20% down payment of $70,000, a buyer would finance $280,000 at a 30-year fixed rate.
What are property taxes like in Vermont?
Vermont has an average effective property tax rate of 1.9% of assessed home value. On a $350,000 home, that's approximately $6,650 per year ($554/month) — above the national average of 1.07%.
How much income do I need to buy a home in Vermont?
To keep housing costs at or below the recommended 28% of gross monthly income on a median-priced Vermont home, you'd need to earn roughly $108,322 per year. The state's median household income is $74,000, meaning the typical household allocates about 41% of gross income to housing — significantly strained.
What is the average mortgage rate in Vermont?
The average 30-year fixed mortgage rate in Vermont is approximately 7.1% (2024 average). Rates vary by lender, credit score, loan-to-value ratio, and loan type. Borrowers with credit scores above 740 typically qualify for the best available rates.
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