Burlington, VT Mortgage Calculator
Calculate your estimated mortgage payment for a home in Burlington, VT. Pre-filled with Burlington's average home price of $420,000, local property tax rate of 1.95%, and typical insurance costs.
$420,000
Avg. Home Price
1.95%
Property Tax Rate
$1,150
Avg. Annual Insurance
-
? Monthly payment PITI with taxes & insurance included
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? Bi-weekly payment PITI if paid every other week
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? The date of the last payment
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? The date of the last bi-weekly payment
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? Total interest paid
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? Total interest paid if bi-weekly payments made
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? Monthly property tax paid (included in above PITI payment)
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? Monthly Home Insurance paid (included in above PITI payment)
Burlington, VT Mortgage Overview
The average home in Burlington costs around $420,000. With a 20% down payment of $84,000, you would need a loan of $336,000.
Burlington homeowners pay a property tax rate of approximately 1.95%, which translates to about $8,190 per year on the average home. Annual homeowners insurance in Burlington averages around $1,150.
What Affects Your Burlington Mortgage Payment?
Your monthly PITI payment in Burlington includes four components:
- Principal — the portion that reduces your loan balance
- Interest — the cost of borrowing, based on your rate and remaining balance
- Taxes — Burlington’s property taxes average 1.95%, higher than the Vermont state average of 1.9%
- Insurance — homeowners insurance in Burlington averages $1,150/year
Tips for Burlington Home Buyers
- Compare rates from multiple Burlington lenders — even a 0.25% rate difference can save tens of thousands over the life of your loan
- Check your credit score before applying — a higher score means better rates
- Consider bi-weekly payments — paying every two weeks instead of monthly can shave years off your mortgage
- Factor in PMI — if your down payment is less than 20%, you’ll pay Private Mortgage Insurance until you reach 80% loan-to-value
- Look at Burlington first-time buyer programs — many Vermont cities offer down payment assistance or reduced rates for first-time buyers
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