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%.

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

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 for 2022-04-01 was $433,000, a difference of $13,000 (3.1%) versus the prior year and $-18,325 versus the prior month.

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 listing age (time on market) for 2022-04-01 was 17 days. This is -26% shorter than the same period one year ago.

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.