Monthly Payment on a $150K Mortgage in Vermont
Using Vermont's 1.9% property tax rate and $1,100/yr homeowners insurance.
$150K Mortgage in Vermont: Rate Comparison
Monthly PITI payment using Vermont's 1.9% property tax and $1,100/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $1,221 | $1,174 | $1,011 |
| 6.0% | $1,267 | $1,217 | $1,049 |
| 6.5% | $1,313 | $1,261 | $1,088 |
| 7.0% | $1,360 | $1,306 | $1,128 |
| 7.5% | $1,409 | $1,352 | $1,168 |
| 8.0% | $1,458 | $1,398 | $1,210 |
How This Compares to Vermont's Median
A $150K home is 61% below Vermont's median of $380K. This is well within reach in many Vermont communities.
Income Needed for a $150K Home in Vermont
To afford this payment of $1,261/mo in Vermont, you'd need a household income of approximately $54K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $50K salary can afford →Closing Costs in Vermont
Estimated closing costs in Vermont: $2K (1.6% of purchase price). Vermont also charges a 1.45% transfer tax, which may add $2,175 to your transaction costs.
What to Know About a $150K Mortgage in Vermont
Note that Vermont's 1.9% property tax rate adds $238/mo to your payment — significantly more than the national average of roughly 1.1%. On a $150K home, that's $2,850/year in property taxes alone. This is a major factor in your total payment and something to budget for carefully.
With 10% down ($15,000), your loan of $135,000 at 6.5% over 30 years produces a principal and interest payment of $853/mo. Adding Vermont's 1.9% property tax ($238/mo) and $1,100/yr insurance ($92/mo) brings your total to $1,261/mo. Because you're putting less than 20% down, PMI adds $79/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $172,185 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $16,152 over the life of the loan.