Vermont State Employees Mortgage Rates, Fees & Info

Montpelier, VT

LEI: 549300FJFORNJ9A43Q02

Tax ID: 03-0184985

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 State Employees is a smaller mortgage company specializing in Cash Out Refi 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 10 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.66% 4/21/24
    30 Year Conventional Refi 6.94% 4/21/24
    30 Year Cash-out Refi 7.25% 4/21/24
    15 Year Conventional Purchase 7.43% 4/21/24
    15 Year Conventional Refi 6.19% 4/21/24
    15 Year Cash-out Refi 6.19% 4/21/24
    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 State Employees Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Vermont State Employees. 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

    874

    Origination Dollar Volume (All Markets)

    $112,040,000
    Show all (7) awards

    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
    Barre, VT (FHA|USDA|VA) 282 $37,910,000 $134,433 $2,696 4.22%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 174 $24,640,000 $141,609 $2,383 4.41%
    Outside of Metro Areas 210 $24,420,000 $116,286 $2,256 4.43%
    Lebanon, NH-VT (FHA|USDA|VA) 90 $10,640,000 $118,222 $2,214 4.27%
    Rutland, VT (FHA|USDA|VA) 80 $9,880,000 $123,500 $2,264 4.41%
    Bennington, VT (FHA|USDA|VA) 28 $3,360,000 $120,000 $1,897 4.23%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $455,000 $151,667 $1,994 3.99%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $360,000 $180,000 $3,450 4.50%
    Berlin, NH (FHA|USDA|VA) 3 $195,000 $65,000 $1,455 4.20%
    Keene, NH (FHA|USDA|VA) 2 $180,000 $90,000 $1,695 3.42%
    Vermont State Employees's top markets include Barre, Burlington, Lebanon, Rutland, and Bennington among others.

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

    • Similar Lenders

    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.

    Adams Community Bank
    Similarity Rank: 56
    Vermont Federal Credit Union
    Similarity Rank: 165
    MSA MORTGAGE, LLC
    Similarity Rank: 168
    Northfield Savings Bank
    Similarity Rank: 215
    Meredith Village Savings Bank
    Similarity Rank: 232
    Bar Harbor Bank & Trust
    Similarity Rank: 294
    NORTHEAST CREDIT UNION
    Similarity Rank: 308
    Northway Bank
    Similarity Rank: 350
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 416
    Bank of New Hampshire
    Similarity Rank: 442

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 874 $112,040,000 $128,192 $2,410 4.33%

    For 2019, Vermont State Employees's most frequently originated type of loan was Conventional, with 874 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 306 $30,400,000 $99,346 $1,789 4.54%
    Home Purchase 289 $48,535,000 $167,941 $3,721 4.22%
    Home Improvement 173 $13,745,000 $79,451 $1,352 4.43%
    Refi 106 $19,360,000 $182,642 $2,716 3.83%

    For 2019, Vermont State Employees's most frequently cited loan purpose was Cash Out Refi, with 306 originations. The 2nd most popular reason was Home Purchase, with 289 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 371 $73,685,000 $198,612 $3,669 3.86%
    15 Year 259 $25,435,000 $98,205 $1,819 4.89%
    10 Year 122 $5,610,000 $45,984 $528 4.80%
    5 Year 83 $1,925,000 $23,193 $400 3.90%
    20 Year 35 $4,855,000 $138,714 $3,155 4.36%
    Other 3 $375,000 $125,000 $6,214 5.21%
    1 Year 1 $155,000 $155,000 $0 6.00%

    For 2019, Vermont State Employees's most frequently cited loan duration was 30 Year, with 371 originations. The 2nd most popular length was 15 Year, with 259 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 606 $63,910,000 $105,462
    $1k-2k 109 $21,795,000 $199,954
    $2k-3k 48 $10,570,000 $220,208
    $5k+ 17 $5,435,000 $319,706
    $3k-4k 16 $3,340,000 $208,750
    $4k-5k 10 $2,430,000 $243,000

    Vermont State Employees's average total fees were $3,669, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 606 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 388 $62,690,000 $161,572
    4-5% 222 $26,380,000 $118,829
    5-6% 146 $8,570,000 $58,699
    6-7% 54 $3,110,000 $57,593
    2.5-3% 46 $9,250,000 $201,087
    <2.5% 7 $1,715,000 $245,000
    7-8% 7 $245,000 $35,000
    Over 8% 4 $80,000 $20,000

    During 2019, Vermont State Employees's average interest rate for loans was 3.86%, while their most frequently originated rate bucket for loans was 3-4%, with 388 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 408 $17,970,000 $44,044 $900 4.89%
    $100k-200k 272 $40,580,000 $149,191 $3,047 3.90%
    $200k-400k 187 $50,325,000 $269,118 $4,172 3.76%
    $400k-600k 7 $3,165,000 $452,143 $6,415 3.55%

    2019 saw Vermont State Employees place emphasis on $100,000 or less loans with 408 originations, totaling $17,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 215 $31,775,000 $147,791 $2,475 4.21%
    $50k-75k 208 $23,320,000 $112,115 $2,218 4.40%
    $75k-100k 183 $24,325,000 $132,923 $2,625 4.13%
    $50k or less 141 $10,725,000 $76,064 $2,059 4.63%
    $150k-250k 94 $15,790,000 $167,979 $2,636 4.28%
    $250k+ 20 $4,130,000 $206,500 $2,746 4.10%

    Vermont State Employees lent most frequently to those with incomes in the $100k-150k range, with 215 originations. The second most popular income band? $50k-75k, with 208 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 226 $27,520,000 $121,770 $2,327 4.21%
    30-36% 184 $23,610,000 $128,315 $2,438 4.38%
    <20% 64 $6,750,000 $105,469 $2,031 4.35%
    42% 46 $5,620,000 $122,174 $2,417 4.61%
    40% 45 $5,335,000 $118,556 $2,093 4.61%
    38% 43 $4,375,000 $101,744 $1,981 4.43%
    37% 38 $5,200,000 $136,842 $2,734 4.22%
    41% 33 $3,695,000 $111,970 $2,072 4.50%
    43% 33 $4,265,000 $129,242 $2,654 4.03%
    36% 31 $4,075,000 $131,452 $2,454 4.30%
    39% 26 $3,030,000 $116,538 $2,065 4.50%
    44% 23 $4,315,000 $187,609 $3,787 4.21%
    45% 20 $3,470,000 $173,500 $2,920 4.08%
    49% 12 $2,610,000 $217,500 $3,027 3.39%
    46% 11 $2,115,000 $192,273 $3,102 3.90%
    47% 10 $1,420,000 $142,000 $2,532 4.63%
    48% 9 $1,735,000 $192,778 $3,374 4.14%
    50-60% 3 $325,000 $108,333 $757 5.02%
    >60% 1 $295,000 $295,000 $5,028 3.50%

    Vermont State Employees lent most frequently to those with DTI ratios of 20-30%, with 226 originations. The next most common DTI ratio? 30-36%, with 184 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 769 $96,645,000 $125,676 $2,391 4.32%
    Not provided 84 $12,360,000 $147,143 $2,603 4.22%
    Not applicable 11 $1,715,000 $155,909 $0 5.44%
    Asian 5 $545,000 $109,000 $2,623 4.18%
    Black 3 $455,000 $151,667 $1,690 5.57%
    American Indian 1 $205,000 $205,000 $1,940 3.50%
    Filipino 1 $115,000 $115,000 $1,880 4.25%

    Approval Rates

    Total approvals of all applications
    94.93%

    Vermont State Employees has an average approval rate.

    Pick Rate

    Approvals leading to origination
    54.69%

    Vermont State Employees has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 2 $60,000 $30,000
    375.0 28 $1,050,000 $37,500
    NA 844 $110,930,000 $131,434

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $635,000 $211,667
    Single Family (1-4 Units):Manufactured 70 $4,610,000 $65,857
    Single Family (1-4 Units):Site-Built 801 $106,795,000 $133,327

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 108 $8,080,000 $74,815 $1,241 4.69%
    40-60% 110 $15,730,000 $143,000 $2,563 3.93%
    60-80% 259 $44,945,000 $173,533 $3,439 4.07%
    80-100% 180 $35,240,000 $195,778 $3,818 4.13%
    Over 100% 7 $1,465,000 $209,286 $4,263 4.00%
    Under 20% 207 $6,185,000 $29,879 $456 4.84%