Vermont State Employees Mortgage Rates, Fees & InfoMontpelier, VT
Tax ID: 03-0184985
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewVermont State Employees is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Vermont State Employees has a high proportion of conventional loans. Their top markets by origination volume include: Barre, Burlington, Lebanon, Rutland, and Bennington among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)
Vermont State Employees has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Vermont State Employees is typically an average 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.66%||3/23/23|
|30 Year Conventional Refi||6.94%||3/23/23|
|30 Year Cash-out Refi||7.25%||3/23/23|
|15 Year Conventional Purchase||7.43%||3/23/23|
|15 Year Conventional Refi||6.19%||3/23/23|
|15 Year Cash-out Refi||6.19%||3/23/23|
|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.|
Origination Dollar Volume (All Markets)$112,740,000
Vermont State Employees's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.25%.
Relative Fees (Closing Costs)
Vermont State Employees's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,283.
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.
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|
|Barre, VT (FHA|USDA|VA)||238||$30,690,000||$128,950||$2,754||3.78%|
|BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA)||241||$26,625,000||$110,477||$1,757||3.64%|
|Outside of Metro Areas||224||$26,370,000||$117,723||$2,577||3.75%|
|Lebanon, NH-VT (FHA|USDA|VA)||112||$12,860,000||$114,821||$2,146||3.69%|
|Rutland, VT (FHA|USDA|VA)||81||$10,725,000||$132,407||$3,357||4.68%|
|Bennington, VT (FHA|USDA|VA)||33||$4,625,000||$140,152||$2,976||4.85%|
|MANCHESTER-NASHUA, NH (FHA|USDA|VA)||4||$390,000||$97,500||$905||4.19%|
|Berlin, NH (FHA|USDA|VA)||1||$265,000||$265,000||$4,713||6.38%|
|Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA)||2||$110,000||$55,000||$595||4.25%|
|Concord, NH (FHA|USDA|VA)||1||$55,000||$55,000||$115||4.84%|
|Keene, NH (FHA|USDA|VA)||1||$25,000||$25,000||$115||4.75%|
We use machine learning to identify the top lenders compared against VERMONT STATE EMPLOYEES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Vermont State Employees's most frequently originated type of loan was Conventional, with 938 originations.
For 2022, Vermont State Employees's most frequently cited loan purpose was Home Improvement, with 491 originations. The 2nd most popular reason was Home Purchase, with 203 originations.
For 2022, Vermont State Employees's most frequently cited loan duration was 15 Year, with 485 originations. The 2nd most popular length was 30 Year, with 271 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Vermont State Employees's average total fees were $5,283, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 574 originations.
During 2022, Vermont State Employees's average interest rate for loans was 4.51%, while their most frequently originated rate bucket for loans was <2.5%, with 266 originations.
2022 saw Vermont State Employees place emphasis on $100,000 or less loans with 532 originations, totaling $24,360,000 in origination value.
Vermont State Employees lent most frequently to those with incomes in the $100k-150k range, with 247 originations. The second most popular income band? $75k-100k, with 193 originations.
Applicant Debt to Income Ratio
Vermont State Employees lent most frequently to those with DTI ratios of 20-30%, with 273 originations. The next most common DTI ratio? 30-36%, with 168 originations.
Approval RatesTotal approvals of all applications
Vermont State Employees has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Vermont State Employees has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|