Whether you are dreaming of your first home, upgrading to accommodate a growing family, or looking to refinance for better terms, we’re here to make it happen.
Unlike other banks in the area, all our lending decisions are made locally. No need to wait for someone across the region or the country to determine your eligibility. We know the area and the people in it, and we want to help you thrive.
Our team is dedicated to helping you achieve
your home finance goals with personalized care and attention.
As your neighbors, we understand the unique needs of our
community. That’s why we offer a variety of mortgage options
tailored to fit your financial situation. With over 100 years
of experience combined, our lending team will guide you
through the process every step of the way ensuring
transparency and peace of mind.
We'll work hard to find the perfect fit for you!
Our goal is to provide the highest level of
service at competitive rates. Our Loan Specialists are only
a phone call away if you need help. Contact us at
802.442.1640 or Toll Free at 800.216.1103 or see below for
other options.
Haven’t found the perfect house yet?
Applying for a mortgage loan before you find a home may be
the best thing you could do. Apply for a home mortgage now
and we’ll issue an approval for a mortgage loan now with no
obligation. Upon review, you will receive a pre-approval
letter to assure real estate brokers and sellers that you
are a qualified buyer. Having a pre-approval for a mortgage
may give more weight to any offer to purchase that you make.
When you find the perfect home, you’ll simply call your loan
specialist to complete your application. You’ll have an
opportunity to lock in our great rates and fees then and
we’ll complete the processing of your request.
If you've never bought a home before, we
know it can feel intimidating. At The Bank of Bennington,
we will help you purchase your home with ease! We will
guide you through the entire process from start to finish.
Our program comes with a Homebuyer
Education course that's a jiffy to complete and will teach
you what you need to know to buy a house. In addition, we
will reimburse you the $99 cost of the Homebuyer Education
course at closing!
Fixed-rate mortgages protect you against
rising rates since the interest rate remains the same
for the entire term of the loan. Depending on the loan
type you can select a loan term that best suits your
financial goals, 10, 15, 20, 25 or 30 years. While the
lower term typically is a lower interest rate the
payment is higher which means you are building equity in
your home faster.
If you plan on staying in your home for a long time,
a fixed-rate mortgage might be the right solution for
you. Fixed rate mortgages provide the following
benefits:
If you already own a home, Home Equity
Lines of Credit and Home Equity Loans are two options for
putting the equity in your home to work for you. The
equity that you’ve built is a financing vehicle for such
things as:
Our lending specialists can explain the
nuances of each loan but essentially, with a home equity
loan, you get a lump sum. A HELOC provides you a revolving
credit line, much like a credit card.
An adjustable-rate mortgage (ARM) is a
term option with an interest rate that can change
periodically after the initial fixed-rate period. After
this introductory period, monthly payments are likely to
increase or decrease based on market fluctuations, which
can also impact the monthly payment.
Adjustable-Rate Mortgage might be a good fit for you
if you do not plan on staying in the home for a long
period of time. Consumers who plan on selling their home
within 5-7 years take advantage of an ARM since the
initial introductory rate tends to be lower. Highlights
of an adjustable-rate mortgage include:
A jumbo loan, or non-conforming
mortgage, allows you to purchase a more expensive home,
whether it be your primary home or your dream second
home with a loan amount above the conforming limit set
by the Federal Housing Finance Agency. In most areas of
the country, the conventional conforming loan limit is
$806,500. A jumbo mortgage might be the right fit for
you if you have a low debt-to income ratio and a higher
credit score. Highlights of non-conforming loans
include:
The Bank of Bennington understands the
unique financing needs of doctors, attorneys and
pharmacists. We have mortgage options to accommodate
those unique needs by utilizing expanded underwriting
guidelines.
You have found a house that you can
vision as your dream home with a little TLC. With a
renovation loan, you can roll in the cost of
renovations– saving you time and money. Getting you into
your dream home sooner!
With flexible requirements, USDA loans
feature:
