The Best Mortgage Lenders in Florence, VT
Compare verified mortgage lenders serving Florence, Vermont. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Florence
Featured Mortgage Lenders
Vermont Mortgage Company
Vermont Mortgage Company
Vermont Mortgage Company is consistently rated as one of Vermont's top mortgage lenders with exceptional customer satisfaction. As a locally-owned and operated mortgage broker serving all of Vermont including Florence, they offer personalized service and deep knowledge of the local real estate market. Their team of experienced loan officers specializes in finding the right mortgage solutions for Vermont homebuyers, with particular expertise in rural properties and first-time homebuyer programs. They are known for their competitive rates, transparent process, and exceptional communication throughout the loan process.
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Vermont Federal Credit Union
Vermont Federal Credit Union
As one of Vermont's largest and most trusted financial institutions, Vermont Federal Credit Union has been serving Chittenden County and surrounding areas including Florence for decades. They offer competitive mortgage rates with flexible terms and exceptional member service. Their mortgage specialists provide personalized guidance through the entire homebuying process, with special programs for first-time homebuyers and competitive construction loans. The credit union is known for its community-focused approach and commitment to helping Vermonters achieve homeownership with local decision-making and responsive service.
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Union Bank
Union Bank
Union Bank has deep roots in Vermont communities and serves Florence and surrounding Lamoille County areas with comprehensive mortgage services. As a community bank with local decision-making authority, they offer personalized mortgage solutions and competitive rates. Their experienced loan officers provide one-on-one service and have extensive knowledge of the local Vermont real estate market. Union Bank is particularly strong in construction lending and offers various first-time homebuyer programs. They are known for their reliable service, local underwriting, and commitment to supporting Vermont communities through accessible mortgage lending.
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Frequently Asked Questions
Common questions about mortgage lending in Florence, VT
What are the current mortgage rates like in Florence, VT, and how do they compare to the national average?
Mortgage rates in Florence typically align closely with Vermont state averages, which can be slightly higher than the national average due to the smaller, more localized lending market. It's common to see rates influenced by regional banks and credit unions like New England Federal Credit Union or Northfield Savings Bank, which are active in the area. For the most accurate rate, it's best to get quotes from both local lenders and national companies, as competition can vary.
Are there any down payment assistance programs specifically for homebuyers in Florence, VT?
Yes, homebuyers in Florence can access the Vermont Housing Finance Agency (VHFA) MOVE program, which offers a competitive first mortgage paired with a forgivable second mortgage for down payment and closing cost assistance. Eligibility is based on income and the purchase price of the home, with specific limits for Chittenden County, where Florence is located. This program is especially valuable given the competitive housing market in the Burlington metro area.
How does the competitive market in the Burlington area affect the mortgage process for a home in Florence?
The high demand in the greater Burlington area, which includes Florence, often leads to multiple-offer situations and faster closing timelines. To make your offer stronger, it's crucial to get a solid mortgage pre-approval from a reputable local lender, as sellers favor buyers with verified financing. You may also need to be prepared for potential appraisal gaps, where the home's sale price exceeds its appraised value, requiring additional cash to cover the difference.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Florence?
Florence homeowners pay property taxes to the Town of Essex, as Florence is an unincorporated village within Essex. The municipal tax rate is a key component of your escrow payment. For insurance, while Florence isn't in a designated high-risk flood zone, lenders will still require a standard homeowner's policy, and it's wise to consider additional coverage for Vermont's weather, such as for heavy snow load or water backup.
Are USDA Rural Development loans a viable option for purchasing a home in Florence, VT?
Yes, Florence is eligible for USDA Rural Development loans, which offer 100% financing with no down payment. This can be an excellent option for moderate-income buyers, as the area is classified as "rural" by the USDA despite its proximity to Burlington. You must meet income eligibility requirements for Chittenden County and purchase a home that meets USDA property standards, making it a practical choice for many first-time buyers in the village.
Why Choose a Mortgage Lender in Florence?
Local Market Knowledge
Lenders who understand Florence'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 Florence and get competitive rates on your home loan.