Mortgage in Vermont

If you love to ski, snowboard, and explore the outdoors, Vermont is an ideal state for you! Known for its maple syrup and Ben and Jerry's, Vermont is a beautiful, sparsely-populated state. The entire population is only 625,000, which is less than many major cities! Despite its small population, Vermont has higher-than-average housing costs . If you're thinking of moving to Vermont (especially if you come from a lower cost-of-living state), use our Vermont mortgage calculator to ensure that a move makes sense financially.

Vermont Mortgage Calculator: Pick the Mortgage That Works Best for You

If you're looking to buy a home or condo in Vermont, there are three types of mortgages you should know.

  • Vermont conventional mortgage: Conventional mortgages have two subtypes. The first is a "conforming" loan, which means that the home is below approximately $550,000. For these loans, buyers will need a 3% down payment and a 620+ credit score. The second type is a "jumbo" loan, which has a price above the $550k limit. For these loans, banks typically require 20% down and need a credit score of at least 700.
  • Vermont FHA mortgage: FHA loans are tricky in Vermont due to the elevated housing costs. However, if you find a home that qualifies, you can get an FHA loan with as little as 3.5% down and a credit score of 580+.
  • Vermont VA mortgage: Military members, both current and in the past, have access to mortgages that receive backing from the Veterans Administration. These loans require 0% down and have additional perks, like no private mortgage insurance.

If you're already a homeowner, the above choices are the only ones available to you. However, first-time homebuyers have other options.

First-Time Homebuyers in Vermont

The Vermont Housing Finance Agency offers four programs to help first-time homebuyers get into their first property.


ASSIST is Vermont's down payment and closing cost program. It provides homeowners with up to $5,000 as a 0% loan with no monthly payments. The state considers ASSIST repaid when you sell, refinance, or pay your mortgage off.

Eligibility Criteria: Borrowers cannot have more than $30,000 in assets. Income and purchase price limitations apply. Additionally, borrowers must take a homebuyer education class.


This program provides eligible homebuyers with a mortgage that saves on taxes, has low down payment options, and has lower monthly mortgage insurance premiums. You can use this program with ASSIST.

Eligibility Criteria: Income and purchase price limitations apply. Borrowers must complete a homebuyer education class.


MOVE is similar to Advantage, except that it is a lower interest rate. All the other benefits are the same.

Eligibility Criteria: Like Advantage, income and purchase price restrictions apply for this program. Homebuyer education is also required.

Mortgage Credit Certificate

The mortgage credit certificate makes homeownership more affordable by providing eligible borrowers up to $2,000 back at tax time. This certificate lets people claim back a portion of the interest they pay as a non-refundable tax credit.

Eligibility Criteria: Purchase price and income restrictions apply.

Vermont Mortgage Calculator: How Much Will a Home Cost You

With many positives, Vermont is a fantastic place to live. If you're looking to move to this small but exciting state, use this Vermont mortgage calculator to see how much a home will cost you per month.

Mortgage Payment Calculator

Extra Payment, Loan Types and Points