Top 5 FHA Lenders in Vermont 2019

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Home Buyers looking for the best lenders in Vermont have a lot of shopping around to do. Vermont is home to around 623,000 people, and with today’s mortgage rates as low as they are, the housing market is ready for serious home buyers. Home values have increased roughly 4.5 percent between December of 2017 through 2018 and are forecasted to rise another 1.5% through 2019.

The upward trend of rising home values makes it the prime time for home buyers on the market for a mortgage loan to do everything they can to keep their housing costs as low as possible. Getting a great mortgage would probably be the best place to start. And, since FHA loans offer low interest rates, down payments as little as 3.5%, and an ultra-low 580 credit score requirement, they’re often some of the most desirable loans for home buyers like you.

In this article, we’ll review the best FHA approved lenders in Vermont and how they can help you on your quest to home ownership.

2019 Vermont FHA Lender Best Picks

  • Best for First Time Home Buyers: Loan Depot

  • Best Online Experience: Quicken Loans

  • Best Local Lender: Academy Mortgage Corporation

  • Best Face-to-Face Experience: Fairway Independent Mortgage Corporation

  • Best Overall Performance: Bank of America

#1 Vermont FHA Lender: Quicken Loans

Finding a mortgage online may have seemed sketchy at best a decade ago, but the amazing team over at Quicken loans has truly set the standard for the online mortgage experience. Quicken Loans (and it’s online division Rocket Mortgage) have made FHA financing as simple and straightforward as possible.

The online FHA loan process is highly geared towards a streamlined user experience. Progress on the status of an FHA loan application can be easily tracked online, and preapproval for an FHA loan can be completed in a matter of minutes.

The service even keeps applicants posted with any documentation they may have forgotten or still need to provide. The real icing on the cake comes from the support staff that can be reached by phone or through the website that is standing by to offer their advisory services and answer any questions a potential borrower may have.

#2 Vermont FHA Lender: Academy Mortgage Corporation

Academy Mortgage Corporation has been around since 1988, and has made a name for themselves on a national scale. The company is committed to responsible lending practices, especially with the ever-changing economy of today.

Unlike many mortgage brokers around, Academy Mortgage Corporation has the advantage of being a direct mortgage lender. This means that they handle all loan processing, underwriting, closings, and funding at their local branch offices.

Being a direct lender, means being able to close mortgage loan transactions as efficiently and quickly as possible, sometimes even in a matter of days! With the security and efficiency of their in-house loan origination and management, they are one of the best when it comes to speedy and affordable FHA financing!

#3 Vermont FHA Lender: Fairway Independent Mortgage Corporation

A rapidly growing name in the national home finance industry, Fairway Independent Mortgage Corporation is one of the best options for FHA financing across the country. Home buyers will agree that it’s actually pretty easy to find a Fairway location when its time to get a home loan. Beyond that, their customer service is well known to be top notch.

Fairway Independent Mortgage Corporation has stunning reviews from its client base over the years. One thing they seem to excel in is cutting down the closing costs that borrowers are expected to pay at the end of a mortgage transaction, as well as facilitation a faster closing.

Fairway may very well be the best option for first time home buyers on this list. Their attention to detail and completely transparent methodology is perfect for obtaining an FHA loan at a great rate in a stress-free environment.

#4 Vermont FHA Lender: Loan Depot

As large as Loan Depot has become since it’s inception, there is no surprise that it would make a list such as this one. Truly a powerhouse when it comes to home finance, Loan Depot is no stranger to FHA mortgages and the borrowers who need them.

The loan officers under the employ at Loan Depot are highly knowledgeable and well-trained individuals. Their expertise is shown clearly in the speed and ease of the mortgage transactions they take part in, And their uncompromised goal of providing down to the decimal quotes that hold true through closing, leaving the borrower with no surprises.

Customer service is a big deal for the loan depot team, and they typically do not disappoint. Past clients have been stunned by the lower than expected rates and fees, combined with speedy closings.

#5 Vermont FHA Lender: Bank of America

A veritable banking giant, Bank of America is typically one of the first places any home buyer would discuss financing a home purchase. Even so, it is incredibly rewarding when such a large company can still focus on the wants and needs of each individual client, and get them the perfect mortgage loan.

Bank of America would not be where it is today if it was lacking in such things as customer care or knowledgeable loan officers. Interestingly, Bank of America is able to combine its impressive clout in the finance industry with personalized consultation, round-the-clock service, and vast resources of both funding and information.

The result? A mortgage transaction that is as painless as one can be, and a mortgage loan that is just the right fit.

Shop Around Before You Get a Vermont FHA Loan

Our picks for the best FHA lenders in Vermont may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. As a home buyer, regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal home loan that comes with the terms and affordability that best suits any particular financial situation.

While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best FHA lender in your area, don't hesitate to contact a home.loans mortgage expert!