Conventional Mortgage Loans for Primary & Secondary Residences
[Pages:3]Mortgage Rates
Effective Date: 08/23/2023
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Conventional Fixed Rate Mortgages - for primary residence - servicing retained
Saleable 60 day lock period. 75 or 90 day lock periods available. See Expiration Date Schedule.
Rate
Points
APR
30 Year
7.250%
0.00%
7.280%
20 Year
7.000%
0.00%
7.038%
15 Year
7.000%
0.00%
7.047%
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule.
10 Year
6.875%
0.00%
6.941%
Home Ownership Made Easier - for 1st time homebuyers - servicing retained
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule.
HOME Down Payment Assistance (DPA) 30 Year Fixed 7/1 ARM
2/5 Cap; tied to 1-year T-Bill with 2.875% margin
HOME
5/1 ARM
2/5 Cap; tied to 1-year T-Bill with 2.875% margin
7/1 ARM
2/5 Cap; tied to 1-year T-Bill with 2.875% margin
Rate 7.625% 6.625%
6.375% 6.625%
Points 0.00% 0.00%
0.00% 0.00%
APR 7.655% 7.434%
7.523% 7.434%
Adjustable Rate Mortgages (ARM) - for primary and second homes - servicing retained
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule. Available to second homes for a term of 15 years and a rate reduction of .125%
3/1 ARM
2/6 Cap; tied to 1-year T-Bill with 2.875 margin
5/1 ARM
2/6 Cap; tied to 1-year T-Bill with 2.875% margin
7/1 ARM
2/6 Cap; tied to 1-year T-Bill with 2.875% margin
Rate 6.125%
6.375%
6.625%
Points 0.00%
0.00%
0.00%
APR 7.712%
7.523%
7.434%
Jumbo Mortgages - for primary homes - servicing retained
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule. Add .125% to rate for loan amounts above $900,000 to $2,000,000. Approval needed above $2,000,000.
30 Year Fixed 20 Year Fixed 15 Year Fixed 10 Year Fixed 5/1 ARM
2/6 Cap; tied to 1-year T-Bill with 2.875% margin
7/1 ARM
2/6 Cap; tied to 1-year T-Bill with 2.875% margin
VA Mortgages - servicing retained
Rate 7.500% 7.375% 7.125% 7.000% 6.500%
6.750%
Points 0.00% 0.00% 0.00% 0.00% 0.00%
0.00%
APR 7.530% 7.413% 7.172% 5.314% 7.574%
7.498%
Saleable 60 day maximum lock period. 30 Year Fixed
Rate 6.750%
Points 1.125%
APR 6.779%
Term 30 Year 20 Year 15 Year 10 Year
Term 30 Year 30 Year
30 Year 30 Year
Term 30 Year 30 Year 30 Year
Term 30 Year 20 Year 15 Year 10 Year 30 Year 30 Year
Term 30 Year
Monthly Payment (per $1,000 borrowed) $6.82 $7.75 $8.99 $11.55
Monthly Payment (per $1,000 borrowed) $7.08 $6.40
$6.24 $6.40
Monthly Payment (per $1,000 borrowed) $6.08 $6.24 $6.40
Monthly Payment (per $1,000 borrowed) $6.99 $7.98 $9.06 $10.73 $6.32 $6.49
Monthly Payment (per $1,000 borrowed) $6.49
Community Lending Mortgages - Champlain Housing Trust, Downstreet Housing & Community Development,
NeighborWorks of Western VT, Windham & Windsor Housing Trust
Servicing Retained, unless paired with VHFA - see VHFA section for rates and lock periods.
Monthly Payment (per
Rate
Points
APR
Term
$1,000 borrowed)
Saleable 60 day lock period. 75 or 90 day lock periods available. See Expiration Date Schedule.
Fixed rate products that are not saleable have a .5% rate markup.
30 Year Fixed
7.250%
0.00%
7.280%
15 Year Fixed
7.000%
0.00%
7.047%
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule.
7/1 ARM
6.625%
0.00%
7.434%
30 Year 30 Year
30 Year
$6.82 $8.99
$6.40
2/5 Cap; tied to 1-year T-Bill with 2.875% margin
Vermont Housing Finance Authority (VHFA) Mortgages - servicing released
Saleable 60 day maximum lock period.
Fixed Rate 30 Year Advantage 30 Year Advantage 100% Rural Development (RD) 30 Year Move 30 Year Move 100% Rural Development (RD)
Rate 6.750% 6.500% 6.500% 6.250%
Points 0.00% 0.00% 0.00% 0.00%
APR 6.779% 6.528% 6.528% 6.278%
Term 30 Year 30 Year 30 Year 30 Year
Monthly Payment (per $1,000 borrowed) $6.49 $6.32 $6.32 $6.16
Fixed Rate Non-Owner Occupied Mortgages - for investment and second homes - servicing retained
Saleable 60 day lock period. 75 or 90 day lock periods available. See Expiration Date Schedule.
30 Year 20 Year 15 Year
Rate 7.750% 7.500% 7.000%
Points 0.00% 0.00% 0.00%
APR 7.780% 7.539% 7.047%
Term 30 Year 20 Year 15 Year
Monthly Payment (per
$1,000 borrowed) $7.16 $8.06 $8.99
Investment Property Mortgages - servicing retained
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule.
5/1 ARM
6.750%
0.00%
6.797%
2/6 Cap; tied to 1-year T-Bill with 3.125% margin
7/1 ARM
7.000%
0.00%
7.047%
2/6 Cap; tied to 1-year T-Bill with 3.125% margin
Balloon - 10 year term / 25 Year Amortization Fixed - 10 year term/ 25 year amortization 3/1 ARM
7.500% 6.500%
0.00% 0.00%
7.533% 7.949%
2/6 Cap; tied to 1-year T-Bill with 3.125% margin
5/1 ARM
6.750%
0.00%
7.755%
2/6 Cap; tied to 1-year T-Bill with 3.125% margin
7/1 ARM
7.000%
0.00%
7.677%
2/6 Cap; tied to 1-year T-Bill with 3.125% margin
15 Year 15 Year
10 year/25 Amort 10 year/25 Amort 10 year/25 Amort 10 year/25 Amort
$8.85 $8.99
$7.39 $6.75 $6.91 $7.07
Construction and Land Mortgages - servicing retained
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule.
Balloon - 10 year term / Variable Amortization Construction - Primary Residence, Interest only 1/1 ARM Land - 10 yr term/variable Amortization up to 20 years
2/6 Cap; tied to 1-year T-Bill with 3.125% margin
3/1 ARM Land - 10 yr term/variable Amortization up to 20 years
2/6 Cap; tied to 1-year T-Bill with 3.125% margin
ARM 3/1 ARM Land
2/6 Cap; tied to 1-year T-Bill with 4% margin
Rate 7.625% 6.000% 6.625%
6.625%
Points 0.00% 0.00% 0.00%
0.00%
APR 8.177% 8.187% 7.917%
6.672%
Term 6 to 12 Months 10 year/20 Amort 10 year/20 Amort
15 year
Monthly Payment (per $1,000 borrowed) $86.82 $7.16
$7.53
$8.78
Special Mortgage Pairings
Manufactured Home Mortgages - for Primary residences - servicing retained
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule. Non-Saleable - Owned, Rented, Eligible Park, or Leased Land
20 Year - New Home 15 Year - New or Existing Home
Rate 10.000% 9.000%
Points 0.00% 0.00%
APR 10.043% 9.050%
VGreen Mortgages - servicing retained
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule.
Off Grid Mortgage
ARM
posted ARM Rate
Fixed Rate
posted fixed rate plus 1%
VT-Modular Mortgage - Fixed rate
posted fixed rate
Seasonal Home Mortgages - Servicing Retained
Portfolio RateProtect 60 day lock period. 120 day lock period available. See Expiration Date Schedule.
Fixed Rate 15 Year
Rate 9.000%
Points 0.00%
APR 9.050%
Term 20 Year 15 Year
30 Year Max 30 Year Max 30 Year Max
Term 15 Year
Monthly Payment (per $1,000 borrowed) $9.65 $10.14
Monthly Payment (per $1,000 borrowed) $10.14
Conventional Loan Limit
Treasury Bill Weekly Average Index
1 Year
Max Loan Unit # Amount
1 $ 726,200 2 $ 929,850 3 $ 1,123,900 4 $ 1,396,800
5.360%
Rate Lock Expiration Dates
Lock Period
Exp date
Price
Saleable Products 60 Day 75 Day 90 Day
10/22/23 11/6/23 11/21/23
Rate Sheet Price .125 points .25 points
Portfolio RateProtect Products
One time free float down available
60 Day
10/22/23
Rate Sheet Price
120 Day
12/21/23
add .5 to Rate Sheet Price
Rates can vary according to individual loan situations. Rates and lock periods are subject to change. The payment amount may be higher if escrows for property taxes, homeowner's insurance, or mortgage insurance are applicable. APR = Annual Percentage Rate.
Adjustable Rate Mortgages (ARMs) begin with a fixed rate and adjust upward or downward after the initial fixed term. ARM products contain two numbers. The first number refers to the number of years the interest rate at closing remains fixed. The second number is the number of years between interest rate changes after the initial fixed term expires.
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