Vermont Federal Credit Union Mortgage Rates, Fees & Info

Burlington, VT

LEI: 254900AX2RRO2WMRP742

Tax ID: 03-0194663

5 stars - Updated: 11/21/24 - out of 5 stars, based on 27 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Vermont Federal Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Vermont Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Burlington, Barre, Lebanon, Rutland, and Bennington among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Vermont Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Vermont Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/21/24
    30 Year Conventional Purchase 6.46% 11/21/24
    30 Year Conventional Refi 6.40% 11/21/24
    30 Year Cash-out Refi 6.44% 11/21/24
    30 Year VA Purchase 5.58% 11/21/24
    30 Year USDA Purchase 6.51% 11/21/24
    15 Year Conventional Purchase 6.17% 11/21/24
    15 Year Conventional Refi 6.33% 11/21/24
    15 Year Cash-out Refi 6.33% 11/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Vermont Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Vermont Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    736

    Origination Dollar Volume (All Markets)

    $115,880,000

    Awards

    Vermont Federal Credit Union 30 Year Conventional Loans silver Vermont Federal Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    Vermont Federal Credit Union's average 30 year fixed mortgage rate was 6.47%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.01%.

    Relative Fees (Closing Costs)

    Vermont Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,004.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 499 $79,125,000 $158,567 $2,777 7.49%
    Outside of Metro Areas 166 $24,210,000 $145,843 $2,323 7.60%
    Barre, VT (FHA|USDA|VA) 27 $6,495,000 $240,556 $3,445 6.95%
    Lebanon, NH-VT (FHA|USDA|VA) 19 $2,855,000 $150,263 $3,893 7.31%
    Rutland, VT (FHA|USDA|VA) 17 $1,845,000 $108,529 $3,420 7.25%
    Bennington, VT (FHA|USDA|VA) 8 $1,350,000 $168,750 $4,005 7.67%
    Vermont Federal Credit Union's top markets include Burlington, Barre, Lebanon, Rutland, and Bennington among others.

    Their top states include:
  • Vermont (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Vermont Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Northfield Savings Bank
    Similarity Rank: 45
    Vermont Federal Credit Union
    Similarity Rank: 102
    Mascoma Bank
    Similarity Rank: 384
    Union Bank
    Similarity Rank: 420
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 441
    NORTH COUNTRY
    Similarity Rank: 561
    Community Bank
    Similarity Rank: 570
    NORTHEAST HOME LOAN, LLC
    Similarity Rank: 861
    TD Bank
    Similarity Rank: 1352
    Mortgage Research Center, LLC
    Similarity Rank: 2754

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 444 $47,210,000 $106,329 n/a 8.06%
    Conventional 292 $68,670,000 $235,171 $2,838 6.61%

    For 2023, Vermont Federal Credit Union's most frequently originated type of loan was HELOC, with 444 originations. Their 2nd most popular type was Conventional, with 292 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 279 $25,195,000 $90,305 $511 7.97%
    Home Purchase 188 $55,730,000 $296,436 $4,021 6.60%
    Refi 167 $21,735,000 $130,150 $454 7.60%
    Other 83 $7,455,000 $89,819 $553 7.74%
    Cash Out Refi 19 $5,765,000 $303,421 $2,995 7.15%

    For 2023, Vermont Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 279 originations. The 2nd most popular reason was Home Purchase, with 188 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 425 $47,195,000 $111,047 $4,423 8.06%
    30 Year 155 $44,275,000 $285,645 $4,004 6.47%
    10 Year 67 $8,105,000 $120,970 $619 6.81%
    15 Year 47 $5,315,000 $113,085 $1,135 7.33%
    5 Year 35 $9,895,000 $282,714 $258 6.57%
    Other 7 $1,095,000 $156,429 $236 7.66%

    For 2023, Vermont Federal Credit Union's most frequently cited loan duration was 20 Year, with 425 originations. The 2nd most popular length was 30 Year, with 155 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 163 $28,695,000 $176,043
    $1k-2k 65 $15,625,000 $240,385
    $2k-3k 13 $4,295,000 $330,385
    $3k-4k 5 $1,425,000 $285,000
    $5k+ 5 $1,605,000 $321,000
    $4k-5k 4 $1,800,000 $450,000

    Vermont Federal Credit Union's average total fees were $4,004, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 163 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 397 $49,155,000 $123,816
    6-7% 161 $40,665,000 $252,578
    Over 8% 103 $10,305,000 $100,049
    5-6% 72 $15,230,000 $211,528
    <2.5% 1 $115,000 $115,000
    4-5% 1 $205,000 $205,000

    During 2023, Vermont Federal Credit Union's average interest rate for loans was 6.47%, while their most frequently originated rate bucket for loans was 7-8%, with 397 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 343 $19,895,000 $58,003 $615 7.79%
    $100k-200k 194 $26,910,000 $138,711 $2,688 7.61%
    $200k-400k 149 $41,405,000 $277,886 $3,919 6.87%
    $400k-600k 42 $19,560,000 $465,714 $4,888 6.72%
    $600k-1MM 5 $3,765,000 $753,000 $3,957 7.29%
    $1MM+ 3 $4,345,000 $1,448,333 $0 6.62%

    2023 saw Vermont Federal Credit Union place emphasis on $100,000 or less loans with 343 originations, totaling $19,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 228 $30,750,000 $134,868 $2,859 7.62%
    $150k-250k 146 $25,430,000 $174,178 $2,798 7.48%
    $75k-100k 127 $18,475,000 $145,472 $3,061 7.34%
    $50k-75k 117 $13,835,000 $118,248 $2,743 7.36%
    $50k or less 53 $4,525,000 $85,377 $1,586 7.73%
    $250k+ 39 $10,245,000 $262,692 $4,102 7.65%

    Vermont Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 228 originations. The second most popular income band? $150k-250k, with 146 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 160 $20,820,000 $130,125 $2,255 7.50%
    30-36% 144 $20,550,000 $142,708 $3,114 7.54%
    <20% 58 $8,080,000 $139,310 $2,567 7.28%
    43% 47 $6,075,000 $129,255 $3,054 7.80%
    42% 45 $6,845,000 $152,111 $2,400 7.40%
    41% 39 $6,205,000 $159,103 $2,988 7.61%
    38% 28 $3,990,000 $142,500 $3,027 7.42%
    36% 27 $4,875,000 $180,556 $3,885 7.48%
    40% 25 $3,185,000 $127,400 $3,409 7.88%
    37% 22 $2,940,000 $133,636 $2,756 7.47%
    44% 20 $3,510,000 $175,500 $3,292 7.56%
    45% 19 $2,985,000 $157,105 $3,162 7.24%
    39% 17 $1,865,000 $109,706 $1,628 7.46%
    47% 12 $1,630,000 $135,833 $3,229 7.26%
    48% 12 $2,200,000 $183,333 $3,416 7.31%
    49% 11 $2,625,000 $238,636 $3,578 7.47%
    46% 10 $2,230,000 $223,000 $4,262 7.56%
    50-60% 6 $530,000 $88,333 $0 8.50%
    >60% 2 $160,000 $80,000 $0 7.63%

    Vermont Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 160 originations. The next most common DTI ratio? 30-36%, with 144 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 541 $78,725,000 $145,518 $2,934 7.53%
    Not provided 159 $22,255,000 $139,969 $2,525 7.48%
    Not applicable 26 $12,620,000 $485,385 $0 6.90%
    Asian 5 $1,125,000 $225,000 $3,655 6.63%
    Black 3 $795,000 $265,000 $3,545 7.88%
    American Indian 2 $360,000 $180,000 $2,055 7.25%

    Approval Rates

    Total approvals of all applications
    76.17%

    Vermont Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.08%

    Vermont Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 440 $46,720,000 $106,182
    NA 296 $69,160,000 $233,649

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    736 $115,880,000 $157,446

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 228 $24,650,000 $108,114 $1,302 7.75%
    40-60% 81 $15,965,000 $197,099 $2,376 7.57%
    60-80% 109 $33,445,000 $306,835 $3,866 7.10%
    80-100% 92 $28,290,000 $307,500 $4,076 6.54%
    Under 20% 226 $13,530,000 $59,867 $605 7.76%