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Mortgage Calculator for Vermont

Estimate your monthly payment in Vermont with real Vermont property tax rates and first-time buyer programs pre-loaded.

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📍 Vermont Housing Information

Capital City Montpelier
Largest City Burlington
Property Tax Rate 1.83%
Average Home Price $337,000
Avg Down Payment 6%

First-Time Buyer Programs in Vermont:

  • VHFA MOVE Program
  • VHFA MOVE MCC Program

Note: Rates shown are statewide averages. Your county rate may differ.

How to Use This Mortgage Calculator in Vermont

Welcome to our mortgage calculator for first-time buyers in Vermont, designed specifically for first-time home buyers in Vermont. Whether you're looking in Montpelier or Burlington, understanding your potential monthly mortgage payment is essential before you start house hunting. This calculator uses Vermont's specific property tax rate of 1.83%, which is 0.94% higher than the national average, to give you the most accurate estimate possible.

If you're buying your first home in Vermont, you'll find that the average home price is $337,000. With a typical down payment of 6%, most first-time buyers in Vermont are leveraging programs like VHFA MOVE Program to make homeownership more affordable. These programs can provide down payment assistance, lower interest rates, and flexible credit requirements that make it easier to qualify for a mortgage in Vermont.

Vermont's property tax rate of 1.83% significantly impacts your monthly payment. Unlike some states where property taxes are relatively low, Vermont requires careful budgeting for this ongoing cost. Our mortgage calculator for first-time buyers in Vermont includes property tax in the calculation so you can see your true PITI (Principal, Interest, Taxes, and Insurance) payment, not just the principal and interest that many other calculators show.

The largest city in Vermont is Burlington, and the capital is Montpelier. Housing markets in these areas may differ from the state average — urban areas like Burlington often have higher home prices and different property tax assessments than rural parts of Vermont. When using this mortgage calculator for first-time buyers in Vermont, adjust the home price based on where you plan to buy within Vermont.

When calculating your mortgage in Vermont, don't forget to factor in closing costs (typically 2-5% of the loan amount), ongoing maintenance (1-2% of home value annually), and homeowner's insurance. Our calculator adds estimated insurance to give you a complete picture of your monthly housing cost in Vermont. Many first-time buyers in Vermont are surprised by how much their total monthly payment differs from their principal and interest alone.

If you're a first-time buyer in Vermont exploring your options, we recommend exploring the VHFA MOVE Program and VHFA MOVE MCC Program programs mentioned above. These Vermont-specific programs can significantly reduce your upfront costs and make your mortgage calculator for first-time buyers in Vermont more accurate by accounting for favorable terms you may qualify for.

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Frequently Asked Questions

What is the property tax rate for first-time buyers in Vermont?
The average property tax rate in Vermont is 1.83%. This is higher than the national average of 0.89%. Property taxes in Vermont are administered at the county level, so your actual rate may vary depending on where you buy. Some counties offer exemptions for first-time homebuyers, veterans, and seniors that can reduce your effective tax rate.

What first-time buyer programs are available in Vermont?
Vermont offers several first-time buyer programs including: VHFA MOVE Program, VHFA MOVE MCC Program. These programs typically offer below-market interest rates, down payment assistance, and flexible credit requirements. Eligibility often depends on income limits, purchase price limits, and completion of a homebuyer education course. Contact your local housing authority or a participating lender to learn more about specific programs available in Vermont.

What is the average home price in Vermont in 2026?
The average home price in Vermont is currently $337,000. This varies significantly by region within the state — Burlington tends to have higher prices than rural areas. Vermont's capital is Montpelier. First-time buyers in Vermont typically put down 6% as a down payment, though some programs allow for lower down payments with mortgage insurance.

How much do I need for a down payment in Vermont?
In Vermont, first-time buyers typically put down 6% of the home price. For the average Vermont home of $337,000, this would be approximately $20,220. However, many first-time buyer programs in Vermont allow down payments as low as 3-5%, and some offer down payment assistance grants or loans that can cover part or all of this cost.

How is monthly mortgage payment calculated in Vermont?
Monthly mortgage payment in Vermont is calculated using the PITI formula: Principal + Interest + Taxes + Insurance. Your monthly payment = (Home Price - Down Payment) × [monthly rate × (1 + monthly rate)^months] / [(1 + monthly rate)^months - 1] + (Property Tax / 12) + (Annual Insurance / 12). Using Vermont's average figures of $337,000 home price, 6% down, 7.1% interest rate, and 1.83% property tax rate helps estimate your true monthly cost.