Vermont Federal Credit Union Mortgage Rates, Fees & Info

Burlington, VT

LEI: 254900AX2RRO2WMRP742

Tax ID: 03-0194663

5 stars - out of 5 stars, based on 30 reviews

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

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Mortgage Data

  • SimulatedRates™
  • 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 loans. Vermont Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) 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 about average 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% 3/28/23
    30 Year Conventional Purchase 6.46% 3/28/23
    30 Year Conventional Refi 6.40% 3/28/23
    30 Year Cash-out Refi 6.44% 3/28/23
    30 Year VA Purchase 5.58% 3/28/23
    30 Year USDA Purchase 6.51% 3/28/23
    15 Year Conventional Purchase 6.17% 3/28/23
    15 Year Conventional Refi 6.33% 3/28/23
    15 Year Cash-out Refi 6.33% 3/28/23
    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.


    Originations

    904

    Origination Dollar Volume (All Markets)

    $130,840,000

    Awards

    Vermont Federal Credit Union 30 Year Conventional Loans bronze Vermont Federal Credit Union USDA Loans gold Vermont Federal Credit Union USDA Loans gold
    Show all (3) awards

    Relative Rate

    Vermont Federal Credit Union's average 30 year fixed mortgage rate was 4.85%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.09%.

    Relative Fees (Closing Costs)

    Vermont Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,866.

    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 $4,750.

    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) 573 $86,525,000 $151,003 $2,531 4.73%
    Outside of Metro Areas 254 $33,730,000 $132,795 $2,612 4.53%
    Barre, VT (FHA|USDA|VA) 36 $5,620,000 $156,111 $2,533 4.92%
    Lebanon, NH-VT (FHA|USDA|VA) 17 $2,425,000 $142,647 $3,604 4.65%
    Rutland, VT (FHA|USDA|VA) 23 $2,425,000 $105,435 $3,202 4.89%
    Bennington, VT (FHA|USDA|VA) 1 $115,000 $115,000 $270 3.00%
    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.

    Community National Bank
    Similarity Rank: 130
    Northfield Savings Bank
    Similarity Rank: 225
    Vermont Federal Credit Union
    Similarity Rank: 408
    VERMONT STATE EMPLOYEES
    Similarity Rank: 605
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 697
    Mascoma Bank
    Similarity Rank: 870
    Union Bank
    Similarity Rank: 962
    NORTH COUNTRY
    Similarity Rank: 1342
    People's United Bank
    Similarity Rank: 1599
    NORTHEAST HOME LOAN, LLC
    Similarity Rank: 1600

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 456 $94,260,000 $206,711 $2,565 4.66%
    HELOC 443 $35,185,000 $79,424 n/a 4.72%
    USDA 3 $535,000 $178,333 $4,999 3.88%
    FHA 1 $605,000 $605,000 $0 4.51%
    VA 1 $255,000 $255,000 $3,728 3.00%

    For 2022, Vermont Federal Credit Union's most frequently originated type of loan was Conventional, with 456 originations. Their 2nd most popular type was HELOC, with 443 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 309 $21,985,000 $71,149 $433 4.80%
    Home Purchase 220 $57,560,000 $261,636 $3,902 4.89%
    Refi 199 $24,125,000 $121,231 $1,409 4.26%
    Other 94 $6,380,000 $67,872 $527 4.93%
    Cash Out Refi 82 $20,790,000 $253,537 $3,201 4.40%

    For 2022, Vermont Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 309 originations. The 2nd most popular reason was Home Purchase, with 220 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 437 $36,975,000 $84,611 $2,968 4.70%
    30 Year 234 $59,570,000 $254,573 $3,866 4.85%
    10 Year 118 $17,080,000 $144,746 $317 4.08%
    15 Year 75 $9,225,000 $123,000 $1,386 5.09%
    5 Year 33 $7,225,000 $218,939 $407 4.48%
    Other 7 $765,000 $109,286 $1,711 4.43%

    For 2022, Vermont Federal Credit Union's most frequently cited loan duration was 20 Year, with 437 originations. The 2nd most popular length was 30 Year, with 234 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 287 $45,355,000 $158,031
    $1k-2k 86 $18,970,000 $220,581
    $2k-3k 19 $5,375,000 $282,895
    $3k-4k 13 $4,245,000 $326,538
    $4k-5k 10 $3,090,000 $309,000
    $5k+ 9 $3,385,000 $376,111

    Vermont Federal Credit Union's average total fees were $3,866, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 287 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 254 $32,850,000 $129,331
    4-5% 253 $33,545,000 $132,589
    5-6% 205 $36,645,000 $178,756
    6-7% 76 $10,850,000 $142,763
    2.5-3% 48 $8,800,000 $183,333
    <2.5% 31 $4,645,000 $149,839
    7-8% 19 $2,645,000 $139,211
    Over 8% 17 $815,000 $47,941

    During 2022, Vermont Federal Credit Union's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 3-4%, with 254 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 443 $22,165,000 $50,034 $658 4.84%
    $100k-200k 228 $32,910,000 $144,342 $2,328 4.33%
    $200k-400k 189 $51,715,000 $273,624 $3,691 4.66%
    $400k-600k 36 $16,740,000 $465,000 $4,965 5.09%
    $1MM+ 4 $4,520,000 $1,130,000 $0 4.63%
    $600k-1MM 4 $2,790,000 $697,500 $7,329 4.66%

    2022 saw Vermont Federal Credit Union place emphasis on $100,000 or less loans with 443 originations, totaling $22,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 258 $32,790,000 $127,093 $2,467 4.78%
    $50k-75k 178 $21,820,000 $122,584 $2,676 4.72%
    $75k-100k 169 $22,615,000 $133,817 $2,668 4.65%
    $150k-250k 134 $23,640,000 $176,418 $2,766 4.51%
    $50k or less 104 $10,010,000 $96,250 $2,228 4.56%
    $250k+ 31 $6,405,000 $206,613 $3,503 4.52%

    Vermont Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 258 originations. The second most popular income band? $50k-75k, with 178 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 182 $25,000,000 $137,363 $2,702 4.37%
    30-36% 163 $22,675,000 $139,110 $2,532 4.66%
    <20% 76 $8,640,000 $113,684 $2,507 4.04%
    38% 50 $5,560,000 $111,200 $2,382 5.02%
    43% 46 $6,520,000 $141,739 $2,230 4.86%
    41% 44 $4,490,000 $102,045 $2,480 4.81%
    42% 40 $5,670,000 $141,750 $2,498 4.98%
    36% 34 $4,460,000 $131,176 $2,183 5.00%
    39% 33 $4,505,000 $136,515 $2,673 5.03%
    44% 32 $5,540,000 $173,125 $2,764 4.58%
    46% 25 $3,775,000 $151,000 $2,489 4.78%
    37% 25 $3,355,000 $134,200 $2,734 4.70%
    40% 24 $2,470,000 $102,917 $2,033 5.47%
    45% 24 $3,480,000 $145,000 $2,566 5.16%
    47% 21 $3,495,000 $166,429 $3,353 5.29%
    49% 20 $3,570,000 $178,500 $3,691 4.40%
    50-60% 16 $1,630,000 $101,875 $2,055 4.69%
    48% 15 $1,885,000 $125,667 $3,301 4.69%
    >60% 4 $430,000 $107,500 $236 3.66%

    Vermont Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 182 originations. The next most common DTI ratio? 30-36%, with 163 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 663 $88,425,000 $133,371 $2,517 4.61%
    Not provided 192 $26,030,000 $135,573 $2,735 4.81%
    Not applicable 30 $13,300,000 $443,333 $0 5.23%
    Asian 9 $1,485,000 $165,000 $3,579 5.06%
    Black 4 $920,000 $230,000 $3,878 5.47%
    American Indian 3 $395,000 $131,667 $2,462 4.71%
    Native Hawaiian or Islander 2 $260,000 $130,000 $0 5.38%
    Asian Indian 1 $25,000 $25,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    84.01%

    Vermont Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.86%

    Vermont Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 435 $34,635,000 $79,621
    NA 469 $96,205,000 $205,128

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    904 $130,840,000 $144,735

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 206 $20,670,000 $100,340 $1,112 4.56%
    40-60% 108 $17,600,000 $162,963 $2,251 4.21%
    60-80% 154 $41,470,000 $269,286 $2,933 4.53%
    80-100% 136 $37,780,000 $277,794 $4,097 4.87%
    Under 20% 300 $13,320,000 $44,400 $562 4.92%