Vermont Mortgage Calculator

Calculate your monthly mortgage payment in Vermont. Average home price: $310,000 · Property tax rate: 1.83% · Median household income: $63,477.

Calculate Your Vermont Mortgage Payment

Home Price ($)

Down Payment ($)

Interest Rate (%)

Loan Term (Years)

Property Tax Rate (%)

Annual Insurance ($)

HOA Monthly ($)

Loan Type

Vermont Housing Market Overview

$310,000

Avg Home Price

1.83%

Property Tax Rate

$1,000

Annual Insurance

6.75%

Avg Mortgage Rate

The average home price in Vermont is $310,000, with a property tax rate of 1.83%. With 20% down at 6.75%, your estimated monthly payment would be approximately $2,165/month including principal, interest, taxes, and insurance (PITI).

Vermont's median household income is $63,477, making the average home roughly 4.9x the median annual income. Financial advisors generally recommend a home price no more than 3-4x your annual income.

How Mortgage Payments Work in Vermont

Your monthly mortgage payment in Vermont consists of four components (PITI):

Principal: The portion that reduces your loan balance. Starts small and grows over time.
Interest: The cost of borrowing. At 6.75%, you'll pay significant interest in the early years.
Taxes: Vermont's property tax rate of 1.83% means approximately $473/month on the average home.
Insurance: Homeowners insurance in Vermont averages $1,000/year ($83/month).

If your down payment is less than 20%, you'll also pay Private Mortgage Insurance (PMI), typically 0.5-1% of the loan annually. FHA loans require mortgage insurance for the life of the loan.

Tips for Vermont Home Buyers

Get pre-approved: Know exactly how much you can afford before shopping in Vermont.
Compare rates: Even a 0.25% rate difference saves thousands over 30 years on a $310,000 home.
Consider property taxes: Vermont's 1.83% rate can vary significantly by county — research your target area.
Shop insurance: Vermont homeowners insurance averages $1,000/year, but rates vary. Get 3-5 quotes.
Budget for closing costs: Expect 2-5% of the purchase price ($6,200-$15,500) in closing costs.
Build an emergency fund: Set aside 3-6 months of mortgage payments ($6,494-$12,988) for emergencies.

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Frequently Asked Questions

What is the average mortgage payment in Vermont?

Based on the average home price of $310,000 with 20% down at 6.75%, the typical monthly payment in Vermont is approximately $2,165, including principal, interest, property taxes (1.83%), and homeowners insurance ($1,000/year).

What is the property tax rate in Vermont?

Vermont's effective property tax rate is approximately 1.83%. On a $310,000 home, that's about $5,673/year or $473/month. Property tax rates can vary by county within Vermont.

How much do I need for a down payment on a home in Vermont?

For a conventional loan, 20% down on the average Vermont home ($310,000) would be $62,000. FHA loans require as little as 3.5% ($10,850), and VA loans offer 0% down for eligible veterans. Lower down payments mean higher monthly payments and PMI.

What credit score do I need for a mortgage in Vermont?

Conventional loans typically require 620+, FHA loans 580+ (for 3.5% down) or 500+ (for 10% down), and VA loans have no minimum but lenders typically prefer 620+. Higher scores get better rates — a 760+ score in Vermont could save you 0.5-1% on your rate.

Should I get a 15-year or 30-year mortgage in Vermont?

A 30-year mortgage offers lower monthly payments but more total interest. A 15-year mortgage has higher payments but saves significantly on interest. On a $248,000 loan at 6.75%, you'd save approximately $125,550 in total interest with a 15-year term.

How much house can I afford in Vermont?

With Vermont's median household income of $63,477, following the 28% rule (housing should be ≤28% of gross income), you could afford approximately $1,481/month for housing. That supports a home price of roughly $222,170-$253,908 depending on rates, taxes, and insurance.