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, 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 9 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% 5/4/24
    30 Year Conventional Refi 6.94% 5/4/24
    30 Year Cash-out Refi 7.25% 5/4/24
    15 Year Conventional Purchase 7.43% 5/4/24
    15 Year Conventional Refi 6.19% 5/4/24
    15 Year Cash-out Refi 6.19% 5/4/24
    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

    1,205

    Origination Dollar Volume (All Markets)

    $199,245,000

    Awards

    VERMONT STATE EMPLOYEES 30 Year Conventional Loans bronze VERMONT STATE EMPLOYEES 30 Year Conventional Loans gold
    Show all (2) 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) 373 $61,875,000 $165,885 $3,286 3.41%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 295 $57,345,000 $194,390 $3,382 3.35%
    Outside of Metro Areas 268 $39,690,000 $148,097 $3,056 3.47%
    Lebanon, NH-VT (FHA|USDA|VA) 136 $19,360,000 $142,353 $3,253 3.41%
    Rutland, VT (FHA|USDA|VA) 86 $12,170,000 $141,512 $2,824 3.43%
    Bennington, VT (FHA|USDA|VA) 41 $7,375,000 $179,878 $3,172 3.27%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $705,000 $235,000 $3,830 3.54%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $425,000 $425,000 $2,071 2.25%
    Keene, NH (FHA|USDA|VA) 2 $300,000 $150,000 $2,979 3.00%
    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.

    Northfield Savings Bank
    Similarity Rank: 348
    Vermont Federal Credit Union
    Similarity Rank: 355
    ST. MARY'S BANK
    Similarity Rank: 392
    Northway Bank
    Similarity Rank: 530
    Advisors Mortgage Group, L.L.C.
    Similarity Rank: 590
    ONE Credit Union
    Similarity Rank: 609
    MSA MORTGAGE, LLC
    Similarity Rank: 638
    Meredith Village Savings Bank
    Similarity Rank: 689
    Bar Harbor Bank & Trust
    Similarity Rank: 714
    SALEM FIVE MORTGAGE COMPANY, LLC
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,205 $199,245,000 $165,349 $3,215 3.41%

    For 2020, Vermont State Employees's most frequently originated type of loan was Conventional, with 1,205 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 390 $60,130,000 $154,179 $2,835 3.51%
    Refi 346 $67,120,000 $193,988 $3,444 3.03%
    Home Purchase 298 $56,220,000 $188,658 $4,340 3.50%
    Home Improvement 171 $15,775,000 $92,251 $1,735 3.76%

    For 2020, Vermont State Employees's most frequently cited loan purpose was Cash Out Refi, with 390 originations. The 2nd most popular reason was Refi, with 346 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 567 $123,055,000 $217,028 $4,056 3.22%
    15 Year 370 $48,570,000 $131,270 $2,803 3.55%
    10 Year 97 $5,935,000 $61,186 $1,104 4.09%
    20 Year 89 $18,375,000 $206,461 $4,213 3.09%
    5 Year 80 $2,870,000 $35,875 $454 3.63%
    Other 2 $440,000 $220,000 $2,238 2.88%

    For 2020, Vermont State Employees's most frequently cited loan duration was 30 Year, with 567 originations. The 2nd most popular length was 15 Year, with 370 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 561 $63,215,000 $112,683
    $1k-2k 331 $60,555,000 $182,946
    $2k-3k 144 $33,790,000 $234,653
    $3k-4k 74 $19,610,000 $265,000
    $5k+ 37 $10,605,000 $286,622
    $4k-5k 36 $10,580,000 $293,889

    Vermont State Employees's average total fees were $4,056, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 561 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 580 $108,950,000 $187,845
    2.5-3% 368 $67,900,000 $184,511
    4-5% 122 $5,750,000 $47,131
    <2.5% 62 $13,760,000 $221,935
    5-6% 41 $1,495,000 $36,463
    6-7% 26 $1,160,000 $44,615
    7-8% 4 $190,000 $47,500
    Over 8% 2 $40,000 $20,000

    During 2020, Vermont State Employees's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 580 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 446 $67,110,000 $150,471 $3,314 3.11%
    $200k-400k 379 $99,535,000 $262,625 $4,515 3.07%
    $100,000 or less 346 $16,450,000 $47,543 $1,188 4.19%
    $400k-600k 31 $14,075,000 $454,032 $5,688 3.03%
    $600k-1MM 3 $2,075,000 $691,667 $7,766 3.29%

    2020 saw Vermont State Employees place emphasis on $100k-200k loans with 446 originations, totaling $67,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 326 $57,520,000 $176,442 $3,310 3.40%
    $50k-75k 294 $40,420,000 $137,483 $3,046 3.44%
    $75k-100k 248 $40,540,000 $163,468 $3,190 3.36%
    $150k-250k 168 $37,010,000 $220,298 $3,567 3.31%
    $50k or less 130 $13,400,000 $103,077 $2,816 3.63%
    $250k+ 38 $10,340,000 $272,105 $3,582 3.07%

    Vermont State Employees lent most frequently to those with incomes in the $100k-150k range, with 326 originations. The second most popular income band? $50k-75k, with 294 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 356 $55,410,000 $155,646 $3,107 3.34%
    30-36% 226 $39,280,000 $173,805 $3,405 3.48%
    <20% 115 $18,205,000 $158,304 $2,978 3.22%
    41% 54 $7,260,000 $134,444 $2,705 3.51%
    37% 53 $8,925,000 $168,396 $2,960 3.48%
    38% 50 $7,270,000 $145,400 $2,980 3.62%
    36% 48 $7,380,000 $153,750 $3,103 3.75%
    40% 45 $8,245,000 $183,222 $3,539 3.61%
    42% 41 $7,205,000 $175,732 $2,882 3.53%
    39% 41 $6,645,000 $162,073 $3,553 3.36%
    43% 39 $6,215,000 $159,359 $2,919 3.53%
    44% 32 $5,820,000 $181,875 $3,683 3.21%
    46% 21 $5,105,000 $243,095 $4,045 3.16%
    47% 20 $3,860,000 $193,000 $3,383 2.98%
    45% 19 $3,875,000 $203,947 $4,647 3.33%
    49% 17 $3,145,000 $185,000 $4,044 3.07%
    48% 16 $3,000,000 $187,500 $3,770 3.23%
    50-60% 6 $1,440,000 $240,000 $1,880 3.81%
    >60% 4 $800,000 $200,000 $2,899 3.03%

    Vermont State Employees lent most frequently to those with DTI ratios of 20-30%, with 356 originations. The next most common DTI ratio? 30-36%, with 226 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,071 $179,135,000 $167,260 $3,228 3.38%
    Not provided 110 $15,840,000 $144,000 $3,088 3.66%
    American Indian 9 $1,335,000 $148,333 $2,538 3.94%
    Asian 5 $935,000 $187,000 $3,032 3.17%
    Black 2 $710,000 $355,000 $5,933 3.19%
    Asian Indian 2 $400,000 $200,000 $3,477 2.81%
    Chinese 2 $370,000 $185,000 $2,191 2.50%
    Other Asian 2 $260,000 $130,000 $4,591 3.94%
    Other Pacific Islander 1 $135,000 $135,000 $4,017 2.75%
    Filipino 1 $125,000 $125,000 $3,088 3.63%

    Approval Rates

    Total approvals of all applications
    95.76%

    Vermont State Employees has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    61.49%

    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 1 $55,000 $55,000
    375.0 20 $790,000 $39,500
    NA 1,184 $198,400,000 $167,568

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 60 $4,530,000 $75,500
    Single Family (1-4 Units):Site-Built 1,145 $194,715,000 $170,057

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 120 $10,940,000 $91,167 $1,926 3.58%
    40-60% 220 $37,130,000 $168,773 $3,098 3.09%
    60-80% 447 $91,385,000 $204,441 $3,990 3.24%
    80-100% 253 $54,385,000 $214,960 $4,275 3.32%
    Over 100% 4 $460,000 $115,000 $4,038 3.63%
    Under 20% 161 $4,945,000 $30,714 $477 4.29%