The Best Mortgage Lenders in Eden Mills, VT
Compare verified mortgage lenders serving Eden Mills, Vermont. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Eden Mills
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a top-rated lender known for its efficient processing and competitive rates, with a strong local presence in Vermont. They specialize in a wide range of loan products and have built a reputation for excellent customer service and community involvement. Their digital tools and personalized approach make them a preferred choice for homebuyers in Eden Mills and the surrounding areas.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly reputable national lender with a strong local office in Burlington, offering innovative digital mortgage solutions and competitive rates. They are praised for their transparency, fast closings, and extensive loan options, making them a reliable choice for Eden Mills residents seeking personalized service and expert guidance.
Loan Types:
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a well-established lender known for its community-focused approach and comprehensive loan offerings. With a dedicated local team in Burlington, they provide exceptional customer service, competitive rates, and support for various mortgage needs, including first-time homebuyer programs, making them a trusted option for Eden Mills and regional clients.
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Frequently Asked Questions
Common questions about mortgage lending in Eden Mills, VT
Are there any special mortgage considerations for buying a home in Eden Mills, VT, given its rural nature?
Yes, due to Eden Mills's location in a rural part of Lamoille County, properties may be eligible for USDA Rural Development loans, which offer 100% financing with no down payment. It's crucial to work with a lender familiar with USDA eligibility maps, as specific property locations in and around the village must be verified. Additionally, well and septic inspections are often a key contingency for mortgage approval in this area.
What are typical down payment assistance programs available for first-time homebuyers in Eden Mills?
First-time homebuyers in Eden Mills can access the Vermont Housing Finance Agency (VHFA) MOVE program, which provides a competitive first mortgage paired with a forgivable second mortgage for down payment and closing costs. Eligibility is based on income and purchase price limits, which are adjusted for the Lamoille County area. Local lenders and housing counselors can provide guidance on combining this with other local grants.
How do property taxes in Eden Mills, VT, impact my mortgage qualification and monthly payment?
Eden Mills is part of the town of Eden, which has a municipal property tax rate. Lamoille County taxes and the local school district tax are also factored in. Your lender will use the combined mill rate to estimate your monthly escrow payment, which can be a significant part of your total monthly mortgage payment in Vermont. It's wise to get a precise tax estimate from the town clerk during your home search.
Are mortgage rates different in Eden Mills compared to larger Vermont cities like Burlington?
Mortgage rates are generally set nationally, but the availability of certain loan products and lender competition can vary. In a smaller market like Eden Mills, working with a local Vermont lender or a credit union familiar with the area can be advantageous, as they may offer specialized programs or more personalized service that can indirectly affect the overall cost and ease of your loan.
What should I know about getting a mortgage for a seasonal or second home in Eden Mills?
Eden Mills's scenic setting near Lake Eden makes it attractive for second homes. Financing for second homes typically requires a higher down payment (often 10-20%) and a slightly higher interest rate than a primary residence. Lenders will also scrutinize your debt-to-income ratio more closely and may have stricter requirements on the property's condition, especially if it's a older camp or cottage.
Why Choose a Mortgage Lender in Eden Mills?
Local Market Knowledge
Lenders who understand Eden Mills's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Vermont.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Eden Mills and get competitive rates on your home loan.