How Much Do You Really Need for a Down Payment in Vermont?

For many buyers, the biggest barrier to entering the Vermont real estate market is the down payment. Our team talks to local buyers every day who are surprised to learn they may not need 20% down to buy a home in Northwestern Vermont.​

In today’s lending environment, most Vermont homebuyers use conventional loans with options starting as low as 3% down, or government‑backed programs that allow even lower down payments for qualified borrowers. The “right” number for you depends on your credit, income, debt, and the type of property you are buying. A higher down payment can reduce your monthly payment and mortgage insurance, but waiting years to save 20% can cost you if prices and interest rates rise in the meantime.​

The Tamithy Howrigan Real Estate team recommends starting with a local lender who knows Vermont guidelines and first‑time buyer programs. Together, you can explore scenarios at 3%, 5%, 10%, and 20% down and see how your monthly payment, cash‑to‑close, and overall affordability change. Our role is to align those numbers with real inventory in St. Albans, Franklin County, and the surrounding communities so you are looking at homes that fit both your lifestyle and your budget.​

If you are unsure where to start, reach out to our team. As experienced Northwestern Vermont real estate experts, we will connect you with trusted local lenders, help you understand exactly how much you need to move forward, and create a step‑by‑step plan to turn “someday” into a real closing date.​