Vermont Federal Credit Union Mortgage Rates, Fees & Info

Burlington, VT

LEI: 254900AX2RRO2WMRP742

Tax ID: 03-0194663

5 stars - out of 5 stars, based on 33 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Vermont Federal Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Vermont Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Burlington, Barre, Rutland, Lebanon, and Bennington among others. Vermont Federal Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Vermont Federal Credit Union is typically an average fee lendor.


Originations

1,098

Origination Dollar Volume (All Markets)

$215,260,000

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 rate mortgage of loans were 3.22%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.07%.

Relative Fees

Vermont Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $3,354.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 766 $153,890,000 $200,901 $2,629 3.39%
Outside of Metro Areas 259 $47,945,000 $185,116 $2,644 3.31%
Barre, VT (FHA|USDA|VA) 34 $7,060,000 $207,647 $3,189 3.48%
Rutland, VT (FHA|USDA|VA) 23 $3,585,000 $155,870 $3,138 3.46%
Lebanon, NH-VT (FHA|USDA|VA) 14 $2,350,000 $167,857 $3,269 2.96%
Bennington, VT (FHA|USDA|VA) 2 $430,000 $215,000 $2,719 3.00%

Vermont Federal Credit Union's top markets include Burlington, Barre, Rutland, Lebanon, and Bennington among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,073 $208,755,000 $194,553 $2,542 3.37%
USDA 15 $3,205,000 $213,667 $5,163 2.97%
VA 10 $3,300,000 $330,000 $8,735 3.43%

For the 2021 period, Vermont Federal Credit Union's most frequently originated loan type of loans were Conventional, with 1,073 originations. Their 2nd most popular type is USDA, with 15 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 333 $86,125,000 $258,634 $3,614 3.27%
Refi 287 $48,385,000 $168,589 $1,910 3.06%
Cash Out Refi 213 $58,165,000 $273,075 $2,699 3.31%
Home Improvement 197 $16,465,000 $83,579 $296 3.79%
Other 68 $6,120,000 $90,000 $382 4.09%

For the 2021, Vermont Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 333 originations. The 2nd most popular reason of loans were Refi, with 287 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 458 $113,940,000 $248,777 $3,354 3.22%
20 Year 333 $41,455,000 $124,489 $2,529 3.58%
10 Year 151 $32,295,000 $213,874 $317 3.42%
15 Year 113 $18,415,000 $162,965 $2,306 3.32%
5 Year 22 $5,800,000 $263,636 $205 3.53%
Other 21 $3,355,000 $159,762 $1,022 3.08%

For the 2021, Vermont Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 458 originations. The 2nd most popular length of loans were 20 Year, with 333 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 527 $102,335,000 $194,184
$1k-2k 157 $36,505,000 $232,516
$2k-3k 39 $10,215,000 $261,923
$3k-4k 20 $5,480,000 $274,000
$5k+ 10 $3,200,000 $320,000

$3,354 of loans were Vermont Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 527 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 611 $123,925,000 $202,823
2.5-3% 304 $63,200,000 $207,895
4-5% 75 $13,455,000 $179,400
<2.5% 70 $11,840,000 $169,143
5-6% 17 $965,000 $56,765
6-7% 13 $975,000 $75,000
7-8% 3 $155,000 $51,667
Over 8% 1 $45,000 $45,000

During 2021, Vermont Federal Credit Union's average interest rate of loans were 3.22%, while their most frequently originated rate bucket of loans were 3-4%, with 611 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 372 $100,010,000 $268,844 $3,306 3.19%
$100k-200k 338 $50,790,000 $150,266 $2,427 3.22%
$100,000 or less 315 $16,825,000 $53,413 $1,007 3.71%
$400k-600k 53 $24,795,000 $467,830 $3,974 3.33%
$600k-1MM 14 $10,180,000 $727,143 $4,818 3.62%
$1MM+ 6 $12,660,000 $2,110,000 $0 3.96%

2021 saw Vermont Federal Credit Union place emphasis on $200k-400k loans with 372 originations, totaling $100,010,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 287 $54,665,000 $190,470 $2,550 3.36%
$50k-75k 235 $38,165,000 $162,404 $2,868 3.23%
$75k-100k 203 $35,375,000 $174,261 $2,863 3.38%
$150k-250k 143 $30,355,000 $212,273 $2,611 3.41%
$50k or less 127 $15,605,000 $122,874 $2,301 3.36%
$250k+ 53 $13,875,000 $261,792 $2,610 3.44%

Vermont Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 287 originations. The second most popular income band? $50k-75k, with 235 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 257 $44,005,000 $171,226 $2,728 3.26%
30-36% 215 $41,045,000 $190,907 $2,670 3.35%
<20% 123 $20,455,000 $166,301 $2,188 3.23%
42% 45 $7,245,000 $161,000 $2,642 3.61%
43% 43 $8,555,000 $198,953 $3,127 3.55%
39% 43 $7,085,000 $164,767 $2,997 3.47%
41% 42 $7,960,000 $189,524 $2,377 3.29%
37% 39 $7,265,000 $186,282 $2,972 3.22%
36% 37 $6,735,000 $182,027 $3,058 3.45%
40% 34 $4,280,000 $125,882 $2,747 3.59%
38% 34 $6,000,000 $176,471 $2,317 3.55%
45% 26 $4,830,000 $185,769 $2,908 3.50%
47% 24 $6,030,000 $251,250 $2,845 3.22%
44% 21 $3,695,000 $175,952 $2,526 3.32%
49% 16 $3,180,000 $198,750 $2,696 3.26%
46% 15 $3,125,000 $208,333 $3,144 3.10%
48% 11 $2,435,000 $221,364 $3,025 3.08%
50-60% 10 $840,000 $84,000 $1,519 3.15%
>60% 5 $645,000 $129,000 $1,057 3.63%

Vermont Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 257 originations. The next most common DTI ratio? 30-36%, with 215 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 706 $121,880,000 $172,635 $2,603 3.39%
Not provided 325 $62,465,000 $192,200 $2,767 3.24%
Not applicable 50 $27,220,000 $544,400 $0 3.91%
Asian 8 $2,200,000 $275,000 $3,377 3.22%
Black 4 $850,000 $212,500 $4,813 3.56%
American Indian 4 $590,000 $147,500 $3,282 3.59%
Native Hawaiian 1 $55,000 $55,000 $236 3.10%

Approval Rates

Total approvals of all applications
91.71%

Vermont Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
83.82%

Vermont Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 281 $26,615,000 $94,715
1102.69 1 $85,000 $85,000
1180.0 1 $315,000 $315,000
1398.0 1 $165,000 $165,000
1720.13 1 $255,000 $255,000
1741.75 1 $385,000 $385,000
1788.0 1 $205,000 $205,000
1841.75 1 $425,000 $425,000
1905.5 1 $455,000 $455,000
2083.0 1 $135,000 $135,000
2093.0 1 $265,000 $265,000
2616.75 1 $245,000 $245,000
5236.75 1 $325,000 $325,000
680.0 1 $155,000 $155,000
7508.0 1 $335,000 $335,000
768.0 15 $3,025,000 $201,667
NA 788 $181,870,000 $230,799

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,098 $215,260,000 $196,047

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 168 $17,420,000 $103,690 $1,077 3.71%
40-60% 179 $31,405,000 $175,447 $2,311 3.07%
60-80% 335 $85,355,000 $254,791 $2,744 3.28%
80-100% 234 $70,820,000 $302,650 $3,508 3.23%
Over 100% 7 $1,915,000 $273,571 $10,668 3.21%
Under 20% 169 $7,175,000 $42,456 $443 3.71%