Compare Burlington, VT mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Burlington.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Burlington. Plus, shopping lenders is free and there is no obligation.
January 19, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Burlington. Understand how much you need to earn to afford a home in Burlington, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Burlington fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Burlington is right for you.
The median home value for Burlington, VT (Chittenden County) is $394,426
Based on current mortgage rates and a 10% down payment, you need to make $64,625 per year to buy the median priced home in Burlington
With this income, you could qualify for a $354,983 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Burlington is $1,497
The median household income for Burlington, VT (Chittenden County) is $83,017
Based on this income, you can afford a home valued at approximately $506,680
The home price you can afford to buy based on household income in Burlington is 128% of the median home value which means housing prices are average. Burlington (Chittenden County) ranks 14 out of 14 counties in Vermont and 2,816 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Burlington, VT is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Burlington (Chittenden County) below.
Conforming loan limits for Burlington, VT
FHA loan limits for Burlington, VT