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When considering a jumbo loan in Vermont, it’s important to have a clear understanding of the financial implications that come with a large mortgage. A Vermont jumbo loan calculator helps you estimate monthly payments, total interest paid over the life of the loan, and other costs associated with high-value mortgages.
Keep reading to learn more on Vermont jumbo loans, how jumbo loans differ from conforming loans, and how to use the Vermont jumbo mortgage calculator.
Key Points
• Jumbo loans exceed conforming loan limits set by the FHFA. In Vermont, the limit is $832,750 for all counties.
• To use the calculator, enter in the home price, down payment, loan term, interest rate, and property tax rate.
• The calculator allows you to see the impact of different interest rates and loan terms on monthly payments and total loan costs.
• Jumbo loans often have stricter qualification criteria, including higher credit scores and significant cash reserves.
• Jumbo loans typically require a down payment of 10%. Higher down payments can improve loan terms and reduce monthly payments.
Vermont Jumbo Loan Calculator
Calculator Definitions
• Jumbo loan: A jumbo loan is a mortgage for amounts exceeding the conforming loan limit, set by the Federal Housing Finance Agency. In all Vermont counties for 2026, the limit is $832,750 for a single-family home.
• Home price: The home price is the agreed-upon purchase price between the buyer and seller. It may differ from the listing price or initial offer.
• Down payment: The down payment is the initial amount a homebuyer contributes upfront, typically expressed as a percentage of the home price. For jumbo loans, lenders often require a minimum down payment of 10%.
• Loan term: The loan term is the duration you have to repay your mortgage, typically 15 or 30 years.
• Interest rate: The interest rate is the cost of borrowing money, expressed as a percentage of the loan amount. It can be fixed or variable, and varies based on borrower qualifications, market conditions, and the type of mortgage loan.
• Annual property tax: Annual property tax is levied by local governments on land and buildings. It is typically a percentage of the property’s assessed value.
How to Use the Vermont Jumbo Loan Calculator
The Vermont jumbo loan calculator is designed to help you estimate the costs associated with a jumbo mortgage. Here’s a step-by-step guide on how to use it.
Step 1: Enter Your Home Price
Begin by entering the home price listed on your purchase contract. The home price directly affects your monthly mortgage payment and the total home loan amount borrowed.
Step 2: Add a Down Payment Amount
Next, specify the down payment amount. For jumbo loans, a down payment of 10% to 20% is often required. A down payment calculator can help you decide on your number.
Step 3: Choose a Loan Term
Select a loan term that fits your financial situation. Most mortgages offer 15- or 30-year terms, but you can choose a term as low as 10 years with the calculator. A longer term reduces monthly payments but increases total interest paid. A shorter term increases monthly payments but decreases total interest.
Step 4: Enter an Interest Rate
Input your interest rate accurately to get a realistic estimate of your monthly mortgage payment. The interest rate significantly affects your payment amount. For example, a 0.25% difference can result in hundreds of dollars in additional monthly payments over the life of the loan.
Step 5: Enter Your Annual Property Tax
Enter your annual property tax rate as a percentage. In Vermont, the average effective property tax rate is 1.78%, but it varies by county.
What Are Jumbo Loans and Conforming Loan Limits?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In 2026, the conforming loan limit for most counties is $832,750 for a single-family home. In Vermont, $832,750 is the limit in all counties. In more expensive counties in the U.S., the limit can be up to $1,249,125.
When comparing jumbo loans vs. conventional loans, jumbo loans often come with stricter qualification criteria, such as higher credit scores and significant cash reserves. Lenders typically require a minimum down payment of 10%. Understanding these limits and requirements helps determine if a jumbo loan is the right choice for your home purchase.
Benefits of Using a Jumbo Loan Payment Calculator
Using a jumbo loan calculator offers several advantages for prospective homebuyers. First, it helps you budget by providing an estimate of your monthly mortgage payment, including principal, interest, and property tax.
The calculator also shows how changes in the interest rate affect your future payments. For instance, a 0.5% increase in the interest rate can significantly raise your monthly payment and total interest paid over the life of the loan. Because of this, you may want to consider building your credit before applying for a jumbo loan.
You can also use the calculator to see how different down payment amounts and loan terms affect your payment and overall cost of the loan. Compare different scenarios and offers from lenders to find the best option for your situation.
How to Use the Jumbo Loan Calculator to Compare Scenarios
Use the jumbo loan mortgage calculator to compare different loan scenarios and meet your long-term financial goals. Specifically, you can:
• Adjust the home price to see how it affects affordability, and consider comfortable monthly payments that are less than preapproval amounts.
• Explore the impact of different down payment amounts on your monthly payments and total interest.
• For adjustable-rate mortgages (ARMs), gauge the impact of rate increases. Even small interest rate differences can significantly affect your payments.
• See how different loan terms impact your payments. A 30-year term offers lower monthly payments, while a 15-year term results in higher payments but less total interest.
• Adjust the interest rate to see how small changes can lead to massive savings over time. To get the best rate, build your credit score before applying.
• Understand the impact of property tax rates on your monthly payment.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Deciding How Much House You Can Afford in Vermont
Before committing to a jumbo loan in Vermont, it’s important to determine how much house you can afford based on your income. Lenders generally advise that your mortgage payment should not exceed 28% of your gross monthly income. For example, a $1 million home with a 10% down payment and a 30-year mortgage at 6.75% would result in a monthly payment of approximately $5,837, excluding property taxes and insurance. This would require an annual income of roughly $250,000.
Alternatively, you can calculate affordability by factoring in your debts against your income. Lenders recommend that total debt payments stay within 36% of your gross monthly income. In the example above, if your debts exceed about $1,600 a month — think student loans, credit cards, and car payments — the income needed for a $900,000 mortgage would be higher.
Larger down payments and lower interest rates can significantly impact affordability. A larger down payment reduces the mortgage amount, while a lower interest rate increases the amount you can afford. Mortgage preapproval can clarify your financial standing and help you understand your budget.
The main components of a jumbo loan payment include the principal and interest. The principal is the amount you borrow, while the interest is the cost of borrowing that money. This calculator also factors in property tax, which is often part of your monthly payment.
Your monthly mortgage payment may also include homeowners insurance and homeowners association (HOA) fees. Knowing how these expenses factor in gives you a clearer view of your overall financial commitment and helps you prepare for the true costs of homeownership.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
Cost of Living in Vermont
The cost of living in your area will significantly affect how much you can afford to spend on a home. Higher cost of living areas typically have higher average home prices, but they also come with increased costs for utilities, home maintenance, transportation, and other necessities.
According to MERIC, Vermont’s cost of living index is 113.7, meaning it’s almost 14% higher than the national baseline of 100. Housing costs in Vermont are almost 29% higher than the national average, as are utilities (13%), groceries (8%), and transportation (4%).
Even if you think your mortgage payment will be manageable, you must consider the broader financial context. If you’re also stretching to meet an auto loan payment, utility bills, and higher grocery costs, your overall financial burden could become unsustainable. You can use a home affordability calculator to get a general idea of what you can afford based on your income and current debts.
Tips on Reducing Your Jumbo Loan Payment
Even if the specific area of Vermont that you are interested in living in necessitates obtaining a jumbo mortgage, it’s still worthwhile to explore different ways to make your mortgage payment more affordable. Here are some strategies to consider:
Consider an Adjustable-Rate Mortgage (ARM)
ARMs may offer a lower interest rate for an introductory period. This can lower your monthly mortgage payment during the initial period. Be prepared for potential rate increases in the future.
Mortgage Recasting
If you receive a bonus or other windfall, consider mortgage recasting. This involves making a lump sum payment toward your mortgage principal. Your lender will re-amortize the loan, reducing your monthly payments.
Modify Your Loan
In the event of financial hardship, explore loan modification options. This can include extending the loan term or reducing the interest rate. Contact your lender to discuss available options and ease your financial strain.
Refinance Your Mortgage
If you’ve built your credit score or rates have improved, consider a mortgage refinance. This allows you to lower your rate, which could reduce your monthly payments. You can also extend your loan term, which spreads payments over a longer period, lowering the monthly amount. Keep in mind that extending the term will increase your total interest over the life of the loan.
The Takeaway
When considering a jumbo loan in Vermont, using a Vermont jumbo loan calculator to estimate your anticipated monthly payments and overall financial commitment is very important. It allows you to compare different loan amounts, interest rates, and terms so you can confidently choose the option that best fits your financial situation.
When you’re ready to take the next step, consider what SoFi Home Loans have to offer. Jumbo loans are offered with competitive interest rates, no private mortgage insurance, and down payments as low as 10%.
SoFi Mortgages: We make mortgage loan applications smart and simple.
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency. For 2026, the conforming loan limit for a single-family home in all counties in Vermont is $832,750.
Do you need 20% for a jumbo loan?
While a 20% down payment is often recommended for jumbo loans, it is not a universal requirement. Some lenders accept a down payment as low as 10%, though this can result in higher interest rates and monthly payments.
What are the benefits of a jumbo loan?
The benefits of a jumbo loan include the ability to finance high-value properties that exceed conventional loan limits. Despite the higher risk, jumbo loans can offer competitive interest rates, sometimes even lower than conforming loans. These loans are particularly useful for buyers in high-cost areas or those interested in luxury homes.
How much are closing costs on a jumbo loan?
Closing costs on a jumbo loan typically range from 2% to 5% of the total loan amount. For a $1 million jumbo loan, closing costs could be between $20,000 and $50,000. Key closing costs include loan origination fees, appraisal fees, title insurance, and attorney fees.
What credit score is needed for a jumbo loan?
Qualifying for a jumbo loan often requires a higher credit score compared to conventional loans. Typically, lenders look for a credit score of 740 or above, although some may accept a score as low as 700. A strong credit score demonstrates responsible debt management and can lead to better interest rates and loan terms, potentially saving you thousands of dollars over the life of the loan.
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*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
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