Vermont mortgages and home buyers, 2025
Incomes, down payments, rates, loan costs, denials and lenders across Vermont's 14 counties, from official HMDA records.
HMDA 2025 data released June 23, 2026
In 2025, lenders reported 4,479 home-purchase mortgages for owner-occupied, single-family homes in Vermont. The median buyer borrowed $325,000 on a home valued at $405,000 and reported a household income of $121,000.
Buyers financed a median 80% of the home's value (roughly 20% down), paid a median 6.50% on 30-year fixed conventional loans and faced median conventional loan costs of $4,860.
Lenders denied 6.9% of completed home-purchase applications.
Key facts
- The median 30-year fixed conventional rate here was 13 basis points below the U.S. median (6.625%).
- Median conventional loan costs ($4,860) were 13% lower than the U.S. median ($5,570).
- FHA loans made up 8.0% of purchase mortgages, versus 21.1% nationally.
- 51.2% of buyers put at least 20% down (financed 80% or less), compared with 38.5% nationally.
- Second homes accounted for 11.1% of first-lien purchase mortgages — a vacation-home market.
- The most common age bracket among borrowers was 25–34 (34.7% of purchase loans).
- 43.2% of purchase mortgages had a single borrower with no co-applicant.
- The most-cited reason for denial was debt-to-income ratio (35.9% of denials with a stated reason).
The 2026 conforming limit is $832,750 for a one-unit home in every Vermont county. See every Vermont county's 2026 FHA and conforming loan limits.
Vermont counties compared
Click a column to sort. Medians shown with at least 30 loans.
| County | Purchase loans | Median loan | Buyer income | Down payment | 30-yr rate | Loan costs | Denial rate | FHA limit |
|---|---|---|---|---|---|---|---|---|
| Addison County | 179 | $345,000 | $122,000 | 20.0% | 6.500% | $5,220 | 5.7% | $541,287 |
| Bennington County | 147 | $265,000 | $102,000 | 10.0% | 6.625% | $5,470 | 6.2% | $541,287 |
| Caledonia County | 190 | $275,000 | $110,000 | 11.0% | 6.500% | $4,430 | 9.0% | $541,287 |
| Chittenden County | 1,394 | $385,000 | $136,000 | 20.0% | 6.500% | $4,880 | 3.9% | $575,000 |
| Essex County | 36 | $225,000 | $100,000 | 5.0% | — | — | 12.2% | $541,287 |
| Franklin County | 481 | $335,000 | $117,000 | 10.0% | 6.500% | $4,540 | 5.7% | $575,000 |
| Grand Isle County | 56 | $375,000 | $155,000 | 20.0% | 6.500% | $4,730 | 12.1% | $575,000 |
| Lamoille County | 163 | $355,000 | $147,000 | 20.0% | 6.500% | $5,100 | 5.6% | $541,287 |
| Orange County | 176 | $315,000 | $118,000 | 16.0% | 6.500% | $4,840 | 7.2% | $541,287 |
| Orleans County | 213 | $235,000 | $102,000 | 10.0% | 6.500% | $4,210 | 10.4% | $541,287 |
| Rutland County | 318 | $255,000 | $103,000 | 10.0% | 6.625% | $5,340 | 9.6% | $541,287 |
| Washington County | 472 | $305,000 | $121,000 | 20.0% | 6.500% | $4,660 | 6.6% | $541,287 |
| Windham County | 224 | $275,000 | $110,000 | 20.0% | 6.750% | $5,160 | 8.8% | $541,287 |
| Windsor County | 430 | $295,000 | $123,000 | 20.0% | 6.625% | $4,880 | 11.8% | $541,287 |
Who bought homes in Vermont
Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.
Values are medians; "middle half" is the 25th to 75th percentile.
Loan type
What the homes were for
All first-lien, closed-end purchase mortgages, including second homes and investors.
Borrower age
Debt-to-income ratio
Monthly debts (including the new payment) as a share of income, as used in underwriting.
What borrowing cost in Vermont
Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.
| Measure | Vermont | U.S. |
|---|---|---|
| 30-year fixed rate · conventional | 6.500% | 6.625% |
| 30-year fixed rate · FHA | 6.375% | 6.250% |
| 30-year fixed rate · VA | 6.250% | 6.125% |
| 15-year fixed rate · conventional | 5.875% | 5.875% |
| Rate spread vs. APOR · conventional | +0.00 pts | +0.13 pts |
| Total loan costs · conventional | $4,860 | $5,570 |
| Total loan costs · FHA | $11,130 | $11,310 |
| Total loan costs · VA | $6,890 | $6,490 |
| Origination charges (all loan types) | $1,490 | $1,860 |
| Borrowers paying discount points | 25.0% | 51.3% |
| Points paid, when paid (% of loan) | 0.49% | 0.87% |
| Borrowers receiving lender credits | 33.3% | 33.1% |
| Adjustable-rate mortgages | 9.4% | 7.4% |
| Jumbo loans (above conforming limit) | 2.5% | 3.8% |
Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.
Approvals and denials
Vermont: 343 of 4,940 completed home-purchase applications were denied (6.9%).
Denial rate
| Application | Vermont | U.S. |
|---|---|---|
| Home purchase | 6.9% | 8.5% |
| Conventional | 5.9% | 7.1% |
| FHA | 14.2% | 12.5% |
| VA | 9.9% | 8.0% |
| USDA | — | 12.5% |
| Refinance | 13.8% | 17.9% |
| Cash-out refinance | 32.6% | 33.6% |
Main reason for purchase denials
First reason the lender reported.
Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.
Refinancing in Vermont
Top mortgage lenders in Vermont
| # | Lender | Loans | Share | Denial rate | 30-yr rate* | Spread* | Costs* |
|---|---|---|---|---|---|---|---|
| 1 | Eastrise Federal Credit Union | 958 | 15.3% | 3.2% | 6.250% | −0.23 | $4,160 |
| 2 | Emm Loans LLC | 549 | 8.8% | 1.3% | 6.625% | +0.19 | $5,100 |
| 3 | Rocket Mortgage, LLC | 489 | 7.8% | 18.0% | 6.750% | +0.46 | $6,990 |
| 4 | Northeast Home Loan, LLC | 393 | 6.3% | 2.0% | 6.500% | −0.09 | $5,780 |
| 5 | Union Bank | 347 | 5.5% | 3.7% | 6.625% | +0.07 | $4,390 |
| 6 | Vermont Federal Credit Union | 264 | 4.2% | 3.3% | 6.250% | −0.25 | $4,020 |
| 7 | CMG Mortgage, Inc. | 233 | 3.7% | 4.7% | 6.500% | +0.09 | $5,480 |
| 8 | Mascoma Bank | 175 | 2.8% | 14.3% | 6.375% | −0.09 | $4,430 |
| 9 | Veterans United Home Loans | 148 | 2.4% | 8.2% | — | — | — |
| 10 | United Wholesale Mortgage (UWM) | 140 | 2.2% | 7.8% | 6.621% | −0.06 | $5,010 |
| 11 | 802 Credit Union Inc. | 135 | 2.1% | 6.1% | 6.875% | +0.05 | — |
| 12 | Northfield Savings Bank | 118 | 1.9% | 5.4% | 6.375% | −0.13 | $3,860 |
| 13 | Community Bank, N.A. | 113 | 1.8% | 7.9% | 7.000% | +0.71 | $3,500 |
| 14 | North Country | 112 | 1.8% | 22.2% | 6.500% | +0.25 | $3,770 |
| 15 | Guild Mortgage Company | 106 | 1.7% | 2.9% | 6.375% | +0.10 | $7,400 |
| 16 | Community National Bank | 98 | 1.6% | 1.5% | — | −0.13 | $3,860 |
| 17 | Freedom Mortgage Corporation | 94 | 1.5% | — | — | — | — |
| 18 | Fairway Independent Mortgage Corporation | 91 | 1.5% | 12.5% | 6.625% | +0.20 | $5,780 |
| 19 | Manufacturers and Traders Trust Company | 85 | 1.4% | 10.3% | 6.500% | −0.01 | $5,000 |
| 20 | Better Mortgage Corporation | 80 | 1.3% | 12.8% | 6.625% | +0.39 | $5,010 |
| 21 | Peoples Trust Company of St. Albans | 71 | 1.1% | 5.0% | — | — | — |
| 22 | Pennymac Loan Services, LLC | 67 | 1.1% | 16.7% | — | — | — |
| 23 | The National Bank of Middlebury | 66 | 1.1% | 5.5% | — | — | — |
| 24 | Mr. Cooper | 59 | 0.9% | — | — | — | — |
| 25 | Navy Federal Credit Union | 54 | 0.9% | 8.7% | 6.750% | +0.03 | $3,590 |
Largest lenders in Vermont by 2025 originations. Loans = home-purchase, refinance and cash-out originations (2025); share = share of those loans here; denial rate = home-purchase applications. *Medians for conventional home-purchase loans, shown with at least 20 loans; spread = APR minus the average prime offer rate at rate lock (percentage points); costs = total loan costs (section D).
Metro areas in Vermont
- Burlington-South Burlington, VT · 1,931 purchases
Source: FFIEC/CFPB HMDA 2025 public LAR; FHFA and HUD 2026 loan limits. Methodology