Burlington USDA Loans
BURLINGTON-SOUTH BURLINGTON, VT
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Burlington's 12 lenders originated 80 USDA loans during 2021. The total origination value was $18,420,000, with an average USDA loan value of $230,250.
Burlington USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Burlington
averaged
5.12%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.16% and
one month ago for the week of 2022-04-08, the
average rate was 4.82%.
The average rate one year ago was 2.93%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.19%.
Burlington USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Burlington level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| HOMEBRIDGE FINANCIAL SERVICES, INC. | 13 | 3.03% | $6,459 |
| Vermont Federal Credit Union | 11 | 2.97% | $5,096 |
| Union Bank | 10 | 2.95% | $5,770 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 8 | 3.00% | $6,890 |
| ENVOY MORTGAGE, LTD | 4 | 3.19% | $7,765 |
| MOVEMENT MORTGAGE, LLC | 2 | 2.63% | $5,495 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 2.69% | $5,586 |
| CMG MORTGAGE, INC. | 1 | 3.25% | $6,586 |
| ACADEMY MORTGAGE CORPORATION | 1 | 3.13% | $6,921 |
| Community Bank | 1 | 3.00% | $4,938 |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 1 | 2.75% | $7,253 |
| Paramount Residential Mortgage Group, Inc. | 1 | 2.50% | $6,333 |
The top Burlington USDA lender as defined by loan originations is HOMEBRIDGE FINANCIAL SERVICES, INC., with
13 USDA loans originated. Their average total fees are
$6,459, which is $1,363
higher than the next largest lender,
Vermont Federal Credit Union.
The lowest fee Burlington USDA lenders (with over 10 loans originated) are
Vermont Federal Credit Union ($5,096), Union Bank ($5,770), HOMEBRIDGE FINANCIAL SERVICES, INC. ($6,459), .
The lowest rate Burlington USDA lenders (with over 10 loans originated) are
Union Bank (2.95%), Vermont Federal Credit Union (2.97%), HOMEBRIDGE FINANCIAL SERVICES, INC. (3.03%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Burlington (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 | $299,500 (0.2%) | $380,310 (1.5%) | 1.10 | 737 |
| 2018-02-01 | $299,900 (0.0%) | $385,994 (1.0%) | 1.08 | 704 |
| 2018-03-01 | $309,000 (-2.5%) | $385,487 (-1.1%) | 1.07 | 728 |
| 2018-04-01 | $319,000 (1.3%) | $396,579 (3.4%) | 1.07 | 760 |
| 2018-05-01 | $319,950 (-1.3%) | $399,763 (2.3%) | 1.07 | 819 |
| 2018-06-01 | $324,900 (0.8%) | $399,861 (0.9%) | 1.08 | 919 |
| 2018-07-01 | $325,000 (0.0%) | $399,863 (1.0%) | 1.08 | 967 |
| 2018-08-01 | $319,450 (0.1%) | $393,926 (0.7%) | 1.07 | 1,003 |
| 2018-09-01 | $319,000 (1.3%) | $402,843 (2.3%) | 1.07 | 988 |
| 2018-10-01 | $318,000 (5.1%) | $400,311 (3.5%) | 1.06 | 976 |
| 2018-11-01 | $312,250 (4.1%) | $396,456 (3.3%) | 1.05 | 913 |
| 2018-12-01 | $309,000 (3.0%) | $390,393 (3.1%) | 1.06 | 817 |
| 2019-01-01 | $308,500 (3.0%) | $381,377 (0.3%) | 1.06 | 739 |
| 2019-02-01 | $312,825 (4.3%) | $387,196 (0.3%) | 1.05 | 729 |
| 2019-03-01 | $322,043 (4.2%) | $394,312 (2.3%) | 1.05 | 734 |
| 2019-04-01 | $324,900 (1.9%) | $403,234 (1.7%) | 1.02 | 733 |
| 2019-05-01 | $325,000 (1.6%) | $409,445 (2.4%) | 1.00 | 765 |
| 2019-06-01 | $329,900 (1.5%) | $413,945 (3.5%) | 1.02 | 810 |
| 2019-07-01 | $329,000 (1.2%) | $411,273 (2.9%) | 1.02 | 840 |
| 2019-08-01 | $327,500 (2.5%) | $414,490 (5.2%) | 1.03 | 866 |
| 2019-09-01 | $327,500 (2.7%) | $420,211 (4.3%) | 1.04 | 852 |
| 2019-10-01 | $332,450 (4.5%) | $435,105 (8.7%) | 1.06 | 810 |
| 2019-11-01 | $329,900 (5.7%) | $430,921 (8.7%) | 1.06 | 726 |
| 2019-12-01 | $327,450 (6.0%) | $410,713 (5.2%) | 1.09 | 652 |
| 2020-01-01 | $327,000 (6.0%) | $410,738 (7.7%) | 1.09 | 574 |
| 2020-02-01 | $329,900 (5.5%) | $414,063 (6.9%) | 1.06 | 542 |
| 2020-03-01 | $345,000 (7.1%) | $427,932 (8.5%) | 1.08 | 550 |
| 2020-04-01 | $352,400 (8.5%) | $433,340 (7.5%) | 1.10 | 542 |
| 2020-05-01 | $355,000 (9.2%) | $445,518 (8.8%) | 1.08 | 540 |
| 2020-06-01 | $380,450 (15.3%) | $476,657 (15.2%) | 1.11 | 537 |
| 2020-07-01 | $377,700 (14.8%) | $473,870 (15.2%) | 1.08 | 505 |
| 2020-08-01 | $370,000 (13.0%) | $479,280 (15.6%) | 1.06 | 470 |
| 2020-09-01 | $374,950 (14.5%) | $479,583 (14.1%) | 1.07 | 464 |
| 2020-10-01 | $392,750 (18.1%) | $486,609 (11.8%) | 1.12 | 433 |
| 2020-11-01 | $398,000 (20.6%) | $495,758 (15.1%) | 1.14 | 387 |
| 2020-12-01 | $399,000 (21.9%) | $487,798 (18.8%) | 1.17 | 319 |
| 2021-01-01 | $399,000 (22.0%) | $470,567 (14.6%) | 1.17 | 277 |
| 2021-02-01 | $399,500 (21.1%) | $489,601 (18.2%) | 1.15 | 219 |
| 2021-03-01 | $420,950 (22.0%) | $522,637 (22.1%) | 1.18 | 217 |
| 2021-04-01 | $420,000 (19.2%) | $497,533 (14.8%) | 1.13 | 260 |
| 2021-05-01 | $420,000 (18.3%) | $510,070 (14.5%) | 1.11 | 266 |
| 2021-06-01 | $427,500 (12.4%) | $502,016 (5.3%) | 1.11 | 311 |
| 2021-07-01 | $422,450 (11.9%) | $502,270 (6.0%) | 1.10 | 331 |
| 2021-08-01 | $432,450 (16.9%) | $502,521 (4.9%) | 1.14 | 320 |
| 2021-09-01 | $425,000 (13.4%) | $512,398 (6.8%) | 1.12 | 295 |
| 2021-10-01 | $424,900 (8.2%) | $512,990 (5.4%) | 1.12 | 240 |
| 2021-11-01 | $404,950 (1.8%) | $517,491 (4.4%) | 1.07 | 219 |
| 2021-12-01 | $424,900 (6.5%) | $527,448 (8.1%) | 1.13 | 183 |
| 2022-01-01 | $430,000 (7.8%) | $497,798 (5.8%) | 1.15 | 140 |
| 2022-02-01 | $447,500 (12.0%) | $490,125 (0.1%) | 1.14 | 131 |
| 2022-03-01 | $451,325 (7.2%) | $513,388 (-1.8%) | 1.11 | 133 |
| 2022-04-01 | $433,000 (3.1%) | $503,875 (1.3%) | 1.02 | 158 |
Burlington's median listing price comes in at 102% of the national average.
Burlington's average listing price for 2022-04-01 was $503,875, a difference of $6,342 (1.3%) versus the prior year and $-9,513 versus the prior month.
For the 2022-04-01 period, Burlington had 158 MLS listings, a difference of 25 listings (19%) versus the prior month and -102 listings (-39%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Burlington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 139 days | 1,900 sqft |
| 2018-02-01 | 152 days | 1,900 sqft |
| 2018-03-01 | 134 days | 1,912 sqft |
| 2018-04-01 | 87 days | 1,928 sqft |
| 2018-05-01 | 63 days | 1,927 sqft |
| 2018-06-01 | 60 days | 1,940 sqft |
| 2018-07-01 | 67 days | 1,960 sqft |
| 2018-08-01 | 77 days | 1,936 sqft |
| 2018-09-01 | 82 days | 1,950 sqft |
| 2018-10-01 | 92 days | 1,950 sqft |
| 2018-11-01 | 101 days | 1,920 sqft |
| 2018-12-01 | 120 days | 1,900 sqft |
| 2019-01-01 | 133 days | 1,900 sqft |
| 2019-02-01 | 149 days | 1,902 sqft |
| 2019-03-01 | 142 days | 1,925 sqft |
| 2019-04-01 | 120 days | 1,950 sqft |
| 2019-05-01 | 83 days | 2,000 sqft |
| 2019-06-01 | 63 days | 1,960 sqft |
| 2019-07-01 | 65 days | 1,960 sqft |
| 2019-08-01 | 72 days | 1,966 sqft |
| 2019-09-01 | 79 days | 1,973 sqft |
| 2019-10-01 | 86 days | 1,993 sqft |
| 2019-11-01 | 92 days | 2,000 sqft |
| 2019-12-01 | 114 days | 1,942 sqft |
| 2020-01-01 | 121 days | 1,922 sqft |
| 2020-02-01 | 117 days | 1,930 sqft |
| 2020-03-01 | 86 days | 1,936 sqft |
| 2020-04-01 | 86 days | 1,943 sqft |
| 2020-05-01 | 80 days | 1,952 sqft |
| 2020-06-01 | 67 days | 2,020 sqft |
| 2020-07-01 | 58 days | 2,002 sqft |
| 2020-08-01 | 60 days | 2,000 sqft |
| 2020-09-01 | 55 days | 1,997 sqft |
| 2020-10-01 | 63 days | 1,918 sqft |
| 2020-11-01 | 74 days | 1,915 sqft |
| 2020-12-01 | 92 days | 1,897 sqft |
| 2021-01-01 | 112 days | 1,872 sqft |
| 2021-02-01 | 104 days | 1,854 sqft |
| 2021-03-01 | 50 days | 1,869 sqft |
| 2021-04-01 | 23 days | 1,868 sqft |
| 2021-05-01 | 31 days | 1,834 sqft |
| 2021-06-01 | 24 days | 1,861 sqft |
| 2021-07-01 | 29 days | 1,872 sqft |
| 2021-08-01 | 37 days | 1,904 sqft |
| 2021-09-01 | 41 days | 1,856 sqft |
| 2021-10-01 | 49 days | 1,935 sqft |
| 2021-11-01 | 57 days | 1,929 sqft |
| 2021-12-01 | 64 days | 1,969 sqft |
| 2022-01-01 | 78 days | 1,953 sqft |
| 2022-02-01 | 47 days | 1,893 sqft |
| 2022-03-01 | 22 days | 1,932 sqft |
| 2022-04-01 | 17 days | 1,896 sqft |
Burlington's median square footage for active listings during the 2022-04-01 period was 1,896 sqft. One year prior, the average listing was 1,868 sqft.
