Bennington FHA Loan Rates, Closing Costs & Stats

Bennington, VT

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Bennington's 16 lenders originated 37 FHA loans during 2023. The total origination value was $19,845,000, with an average FHA loan value of $536,351.

Bennington FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Bennington averaged 6.1% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

Bennington's average FHA mortgage closing costs are $7,299.

The average rate for the prior week (2024-12-06) was 6.47% and one month ago for the week of 2024-11-08, the average rate was 6.54%.

The average rate one year ago was 6.55%.

For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Bennington FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bennington level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 9 6.16% $10,983
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.96% $10,568
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.58% $8,759
BROKER SOLUTIONS, INC. 2 6.44% $12,228
JPMorgan Chase Bank 1 6.25% $11,259
LEADERONE FINANCIAL CORPORATION 1 6.75% $10,806
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $13,682
NORWICH COMMERCIAL GROUP, INC. 1 6.13% $8,884
PENNYMAC LOAN SERVICES, LLC 1 6.13% $8,371
RELIANCE FIRST CAPITAL, LLC 1 5.50% $15,516
Union Bank 1 5.75% $7,342
AMERISAVE MORTGAGE CORPORATION 1 6.25% $10,506
U.S. Bank 1 6.88% $14,266
Carrington Mortgage Services, LLC 1 6.50% $7,970
EMM LOANS LLC 1 7.00% $9,795
FREEDOM MORTGAGE CORPORATION 1 7.25% $14,523

The top Bennington FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 9 FHA loans originated. Their average total fees are $10,983, which is $415 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Bennington FHA lenders (with over 10 loans originated) are .

The lowest rate Bennington FHA lenders (with over 10 loans originated) are .

Bennington FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
BENNINGTON, VT BENNINGTON 2022 $420,680 $538,650 $651,050 $809,150
BENNINGTON, VT BENNINGTON 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bennington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $330,250 (7.6%) $468,924 (2.9%) 0.00 487
2018-02-01 $335,000 (7.3%) $475,937 (3.2%) 0.00 469
2018-03-01 $335,000 (5.7%) $467,470 (1.4%) 0.00 468
2018-04-01 $327,000 (2.2%) $460,026 (-0.9%) 0.00 470
2018-05-01 $321,375 (1.4%) $452,995 (-2.2%) 0.00 480
2018-06-01 $328,800 (6.2%) $448,591 (-2.1%) 0.00 519
2018-07-01 $332,350 (4.2%) $449,029 (-3.6%) 0.00 546
2018-08-01 $329,750 (3.4%) $458,917 (-1.2%) 0.00 560
2018-09-01 $334,900 (3.1%) $473,383 (2.5%) 0.00 546
2018-10-01 $337,000 (0.6%) $476,226 (1.9%) 0.00 551
2018-11-01 $329,000 (-0.6%) $467,665 (-0.8%) 0.00 524
2018-12-01 $334,900 (1.6%) $479,946 (2.4%) 0.00 488
2019-01-01 $341,950 (3.5%) $474,728 (1.2%) 0.00 456
2019-02-01 $344,925 (3.0%) $468,532 (-1.6%) 0.00 452
2019-03-01 $345,264 (3.1%) $479,964 (2.7%) 0.00 436
2019-04-01 $341,975 (4.6%) $486,582 (5.8%) 0.00 424
2019-05-01 $332,000 (3.3%) $467,493 (3.2%) 0.00 425
2019-06-01 $329,900 (0.3%) $465,569 (3.8%) 0.00 435
2019-07-01 $345,000 (3.8%) $483,805 (7.7%) 0.00 472
2019-08-01 $346,336 (5.0%) $494,201 (7.7%) 0.00 460
2019-09-01 $348,341 (4.0%) $500,484 (5.7%) 0.00 441
2019-10-01 $349,677 (3.8%) $501,743 (5.4%) 0.00 427
2019-11-01 $349,900 (6.4%) $500,664 (7.1%) 0.00 399
2019-12-01 $349,675 (4.4%) $507,398 (5.7%) 0.00 388
2020-01-01 $345,500 (1.0%) $497,531 (4.8%) 0.00 371
2020-02-01 $339,000 (-1.7%) $495,739 (5.8%) 0.00 352
2020-03-01 $348,125 (0.8%) $515,443 (7.4%) 0.00 340
2020-04-01 $349,475 (2.2%) $530,920 (9.1%) 0.00 318
2020-05-01 $349,000 (5.1%) $521,910 (11.6%) 0.00 309
2020-06-01 $348,825 (5.7%) $524,817 (12.7%) 0.00 297
2020-07-01 $349,450 (1.3%) $569,294 (17.7%) 0.00 288
2020-08-01 $379,900 (9.7%) $606,470 (22.7%) 0.00 254
2020-09-01 $398,775 (14.5%) $607,654 (21.4%) 0.00 225
2020-10-01 $395,000 (13.0%) $622,991 (24.2%) 0.00 203
2020-11-01 $423,250 (21.0%) $695,596 (38.9%) 0.00 167
2020-12-01 $439,500 (25.7%) $716,684 (41.3%) 0.00 158
2021-01-01 $404,000 (16.9%) $704,212 (41.5%) 0.00 144
2021-02-01 $362,450 (6.9%) $674,224 (36.0%) 0.00 129
2021-03-01 $387,500 (11.3%) $707,467 (37.3%) 0.00 111
2021-04-01 $424,000 (21.3%) $737,061 (38.8%) 0.00 106
2021-05-01 $492,000 (41.0%) $750,453 (43.8%) 0.00 111
2021-06-01 $477,000 (36.7%) $751,521 (43.2%) 0.00 128
2021-07-01 $434,000 (24.2%) $734,674 (29.1%) 0.00 135
2021-08-01 $434,750 (14.4%) $724,792 (19.5%) 0.00 131
2021-09-01 $437,500 (9.7%) $701,754 (15.5%) 0.00 134
2021-10-01 $449,900 (13.9%) $720,247 (15.6%) 0.00 108
2021-11-01 $449,000 (6.1%) $675,807 (-2.8%) 0.00 89
2021-12-01 $428,750 (-2.5%) $676,423 (-5.6%) 0.00 77
2022-01-01 $425,000 (5.2%) $708,442 (0.6%) 0.00 59
2022-02-01 $449,950 (24.1%) $717,520 (6.4%) 0.00 55
2022-03-01 $437,425 (12.9%) $696,894 (-1.5%) 0.00 55
2022-04-01 $450,000 (6.1%) $757,228 (2.7%) 0.00 57
2022-05-01 $462,000 (-6.1%) $818,981 (9.1%) 0.00 73
2022-06-01 $467,000 (-2.1%) $844,626 (12.4%) 0.00 102
2022-07-01 $499,000 (15.0%) $843,383 (14.8%) 0.00 121
2022-08-01 $549,500 (26.4%) $895,507 (23.6%) 0.00 109
2022-09-01 $550,000 (25.7%) $941,175 (34.1%) 0.00 100
2022-10-01 $507,000 (12.7%) $859,487 (19.3%) 0.00 98
2022-11-01 $476,000 (6.0%) $833,164 (23.3%) 0.00 85
2022-12-01 $479,000 (11.7%) $817,594 (20.9%) 0.00 77
2023-01-01 $491,000 (15.5%) $839,126 (18.5%) 0.00 73
2023-02-01 $566,000 (25.8%) $886,082 (23.5%) 0.00 63
2023-03-01 $477,000 (9.1%) $831,966 (19.4%) 0.00 58
2023-04-01 $464,000 (3.1%) $850,183 (12.3%) 0.00 54
2023-05-01 $570,000 (23.4%) $906,117 (10.6%) 0.00 58
2023-06-01 $609,125 (30.4%) $995,876 (17.9%) 0.00 62
2023-07-01 $569,000 (14.0%) $870,825 (3.3%) 0.00 72
2023-08-01 $571,750 (4.1%) $906,093 (1.2%) 0.00 72
2023-09-01 $575,000 (4.6%) $865,680 (-8.0%) 0.00 89
2023-10-01 $579,450 (14.3%) $949,311 (10.5%) 0.00 96
2023-11-01 $550,000 (15.6%) $1,011,265 (21.4%) 0.00 90
2023-12-01 $612,000 (27.8%) $1,064,126 (30.2%) 0.00 84
2024-01-01 $699,000 (42.4%) $1,099,900 (31.1%) 0.00 80
2024-02-01 $705,500 (24.7%) $1,101,987 (24.4%) 0.00 78
2024-03-01 $725,000 (52.0%) $1,051,957 (26.4%) 0.00 68
2024-04-01 $681,000 (46.8%) $927,370 (9.1%) 0.00 67
2024-05-01 $693,000 (21.6%) $972,792 (7.4%) 0.00 78
2024-06-01 $635,000 (4.3%) $954,538 (-4.2%) 0.00 108
2024-07-01 $616,250 (8.3%) $958,468 (10.1%) 0.00 123
2024-08-01 $585,000 (2.3%) $932,507 (2.9%) 0.00 141
2024-09-01 $590,000 (2.6%) $984,743 (13.8%) 0.00 155
2024-10-01 $583,725 (0.7%) $938,449 (-1.1%) 0.00 161
2024-11-01 $581,000 (5.6%) $979,761 (-3.1%) 0.00 149
Bennington's median listing price for 2024-11-01 was $581,000, a difference of $31,000 (5.6%) versus the prior year and $-2,725 versus the prior month.

Bennington's median listing price comes in at 0% of the national average.

Bennington's average listing price for 2024-11-01 was $979,761, a difference of $-31,504 (-3.1%) versus the prior year and $41,312 versus the prior month.

For the 2024-11-01 period, Bennington had 149 MLS listings, a difference of -12 listings (-7%) versus the prior month and 59 listings (66%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bennington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,330 sqft
2018-02-01 0 days 2,337 sqft
2018-03-01 0 days 2,335 sqft
2018-04-01 0 days 2,305 sqft
2018-05-01 0 days 2,318 sqft
2018-06-01 0 days 2,342 sqft
2018-07-01 0 days 2,392 sqft
2018-08-01 0 days 2,414 sqft
2018-09-01 0 days 2,424 sqft
2018-10-01 0 days 2,449 sqft
2018-11-01 0 days 2,422 sqft
2018-12-01 0 days 2,490 sqft
2019-01-01 0 days 2,491 sqft
2019-02-01 0 days 2,466 sqft
2019-03-01 0 days 2,474 sqft
2019-04-01 0 days 2,480 sqft
2019-05-01 0 days 2,412 sqft
2019-06-01 0 days 2,400 sqft
2019-07-01 0 days 2,451 sqft
2019-08-01 0 days 2,436 sqft
2019-09-01 0 days 2,444 sqft
2019-10-01 0 days 2,440 sqft
2019-11-01 0 days 2,419 sqft
2019-12-01 0 days 2,404 sqft
2020-01-01 0 days 2,375 sqft
2020-02-01 0 days 2,396 sqft
2020-03-01 0 days 2,476 sqft
2020-04-01 0 days 2,476 sqft
2020-05-01 0 days 2,436 sqft
2020-06-01 0 days 2,446 sqft
2020-07-01 0 days 2,456 sqft
2020-08-01 0 days 2,553 sqft
2020-09-01 0 days 2,460 sqft
2020-10-01 0 days 2,388 sqft
2020-11-01 0 days 2,650 sqft
2020-12-01 0 days 2,597 sqft
2021-01-01 0 days 2,517 sqft
2021-02-01 0 days 2,327 sqft
2021-03-01 0 days 2,393 sqft
2021-04-01 0 days 2,400 sqft
2021-05-01 0 days 2,529 sqft
2021-06-01 0 days 2,484 sqft
2021-07-01 0 days 2,395 sqft
2021-08-01 0 days 2,342 sqft
2021-09-01 0 days 2,344 sqft
2021-10-01 0 days 2,360 sqft
2021-11-01 0 days 2,208 sqft
2021-12-01 0 days 2,167 sqft
2022-01-01 0 days 2,322 sqft
2022-02-01 0 days 2,305 sqft
2022-03-01 0 days 1,930 sqft
2022-04-01 0 days 2,012 sqft
2022-05-01 0 days 2,207 sqft
2022-06-01 0 days 2,283 sqft
2022-07-01 0 days 2,476 sqft
2022-08-01 0 days 2,582 sqft
2022-09-01 0 days 2,584 sqft
2022-10-01 0 days 2,543 sqft
2022-11-01 0 days 2,359 sqft
2022-12-01 0 days 2,350 sqft
2023-01-01 0 days 2,441 sqft
2023-02-01 0 days 2,665 sqft
2023-03-01 0 days 2,502 sqft
2023-04-01 0 days 2,496 sqft
2023-05-01 0 days 2,771 sqft
2023-06-01 0 days 2,910 sqft
2023-07-01 0 days 2,920 sqft
2023-08-01 0 days 2,948 sqft
2023-09-01 0 days 2,588 sqft
2023-10-01 0 days 2,689 sqft
2023-11-01 0 days 2,660 sqft
2023-12-01 0 days 2,701 sqft
2024-01-01 0 days 2,726 sqft
2024-02-01 0 days 2,730 sqft
2024-03-01 0 days 2,774 sqft
2024-04-01 0 days 2,462 sqft
2024-05-01 0 days 2,598 sqft
2024-06-01 0 days 2,272 sqft
2024-07-01 0 days 2,320 sqft
2024-08-01 0 days 2,399 sqft
2024-09-01 0 days 2,317 sqft
2024-10-01 0 days 2,319 sqft
2024-11-01 0 days 2,360 sqft
Bennington's median listing age (time on market) for 2024-11-01 was 0 days.

Bennington's median square footage for active listings during the 2024-11-01 period was 2,360 sqft. One year prior, the average listing was 2,660 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).