Vermont mortgage lending data
Northeast region · HMDA 2023 reporting year
In Vermont, the 2023 mortgage denial rate was 16.7% — below the national denial rate (-2.9 points vs the 19.6% national rate), ranking it #36 of 51. Lenders originated about 7,788 home-purchase and refinance loans (rank #50). The home-purchase denial rate was 12.6% and refinance 25.1%. By loan type, conventional loans were 91.0%, FHA 5.2%, VA 3.5% and USDA/RHS 0.3%. Informational data, not lending advice.
Source: HMDA Data Browser (FFIEC / CFPB). Data as of June 2026.
Vermont mortgage lending at a glance
| Indicator | Vermont |
|---|---|
| Total originations (purchase + refinance, 2023) | 7,788 |
| Denied applications | 1,560 |
| Mortgage denial rate | 16.7% |
| Denial-rate rank (1 = highest of 51) | #36 |
| Home-purchase denial rate | 12.6% |
| Refinance denial rate | 25.1% |
| Volume rank (1 = most loans of 51) | #50 |
Source: HMDA Data Browser (FFIEC / CFPB) (2023 reporting year). Data as of June 2026.
Source: HMDA Data Browser (2023), public domain. Denial rate = denied ÷ (originated + denied). Informational only — verify before relying on it.
What the denial rate means
Vermont's mortgage denial rate of 16.7% means that for every 100 applications that were either approved-and-originated or denied, about 17 were turned down. That is lower compared with the national figure of 19.6%. Denial rates are driven by applicant credit scores, debt-to-income ratios, the loan type and local home prices — not only by how strict lenders are. Refinance applications are often denied at a different rate than purchase loans: in Vermont the purchase denial rate was 12.6% versus 25.1% for refinances.
Vermont loan-type mix
How Vermont's 7,788 originations break down by loan program. A higher FHA or VA share usually points to more first-time buyers, lower down payments, or a large veteran population.
| Loan type | Originations | Share |
|---|---|---|
| Conventional | 10,042 | 91.0% |
| FHA | 572 | 5.2% |
| VA | 386 | 3.5% |
| USDA / RHS | 30 | 0.3% |
Source: HMDA Data Browser (FFIEC / CFPB) (2023). Data as of June 2026.
See FHA vs VA vs conventional for what each program is. Shares are over loans with a reported type and may not sum to exactly 100% due to rounding.
States with a similar denial rate to Vermont
| State | Denial rate | Originations | FHA share | VA share |
|---|---|---|---|---|
| Vermont (this state) | 16.7% | 7,788 | 5.2% | 3.5% |
| Montana | 16.6% | 14,125 | 10.6% | 9.0% |
| Colorado | 16.8% | 102,034 | 11.4% | 7.9% |
| Idaho | 16.5% | 33,653 | 11.7% | 6.4% |
| Illinois | 16.5% | 158,841 | 12.3% | 4.0% |
| Connecticut | 17.1% | 47,680 | 10.2% | 2.6% |
Frequently asked questions
What was the mortgage denial rate in Vermont in 2023?
In 2023, the mortgage denial rate in Vermont was about 16.7% — that is, 1,560 applications were denied out of 9,348 that were either originated or denied. That is -2.9 points versus the national rate of 19.6%, and ranks Vermont #36 of 51 from highest to lowest. Figures are from HMDA; verify before relying on them.
How many mortgages were originated in Vermont?
Lenders originated about 7,788 home-purchase and refinance loans in Vermont in 2023 (HMDA reporting year), ranking it #50 of 51 by volume. Of those, the home-purchase denial rate was 12.6% and the refinance denial rate was 25.1%.
What share of Vermont mortgages are FHA or VA loans?
In Vermont, FHA loans made up about 5.2% of originations and VA loans about 3.5%, with conventional loans the largest share at 91.0% and USDA/RHS loans 0.3%. Higher government-backed shares often reflect more first-time and lower-down-payment buyers.
Is it harder to get a mortgage in Vermont than elsewhere?
Vermont's denial rate of 16.7% is below the national denial rate. Denial rates reflect applicant credit, income and debt, loan type and local home prices as much as lender behavior, so a higher rate does not by itself mean stricter lenders. States with the most similar denial rates to Vermont are Montana, Colorado, Idaho.
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Sources & accuracy
All counts are from the HMDA Data Browser (FFIEC / CFPB, 2023 reporting year, public domain). Denial rate, loan-type shares and ranks are transparent calculations over those counts (see methodology). This page is informational and is not financial or lending advice — verify with a licensed lender before making a decision.
Last updated: 2026-06-20