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Why choose NBM for your home loan?
Local decision-making
Where is your bank’s corporate headquarters? Do they hold or sell your loan? Can you walk in and speak with a decision-maker? National Bank of Middlebury’s “corporate” headquarters is in Middlebury, Vermont and has been for almost 200 years. We live here and know the challenges and joys that come with buying a home here.
Local servicing
Often types of loans are sold to secondary markets. When we sell a loan, we retain servicing rights to it so we know what is going on with the loan relationship and can be there for you if a need should arise. We think it’s important to maintain a relationship with the person who trusted us with their lending needs in the first place.
World class products with local attention
You don’t have to sacrifice one for the other. We offer all the convenience that modern technology can provide but also love to see you in person and help you over the phone. We know our customers beyond the numbers, heck, we even know their dogs most of the time.
Meet our mortgage team
NBM community lenders go above and beyond
Our lenders live and work in Vermont. They are not only experts on real estate values, but also the communities they serve. They know about local education, health, employment, social services, and safe environments. They know they are not merely selling a home, they are selling a community and a lifestyle, and they are dedicated to providing you with the right loans and tools to live the life you want.
Home loans to fit your needs
Hometown Advantage Mortgage
Hometown Advantage loans are designed to be sold to third parties but serviced by the NBM staff you know and trust throughout the life of the loan.
- For conventional primary residence homes
- Down payment options range from 3% to 25% or more
- Interest rate: fixed
- Loan term: 30, 20, or 15-year
- Mortgage insurance required with down payments less than 20%
No Nonsense Mortgage
No Nonsense Mortgages are 100% local. Once you purchase your home, the loan is held in the NBM in-house loan portfolio and serviced by your trusted NBM team. No Nonsense Mortgages include:
- Land and Construction loans
- Seasonal second home and camps
- Jumbo mortgages
- Primary residence, second home or investment properties
- Mobile home primary residence mortgages
- Interest can be fixed or variable depending on the loan type
Vermont Housing Finance Agency
Vermont Housing Finance Agency (VHFA) is a state chartered agency that finances and promotes affordable housing opportunities for low and moderate income Vermonters through homeownership.
- Down payment assistance is available
- Interest rate: fixed
- Loan term: 30-year
- 95% to 100% financing options
- Servicing released
Construction Loan
This is an opportunity to build the home you want for the future you want.
- Construction-to-permanent residential loan
- Fixed rate, 5/1 or 7/1 ARM
- Held and serviced by NBM
- Green Advantage programs available
Home Equity Loan
A home equity loan is a term loan secured by a mortgage on your residence.
- $5000 minimum with a $250,000 maximum
- Fixed rate
- Loan term 5, 10 or 15-year
- Can be used for home improvement, education, large purchases, debt consolidation, and more!
Home Equity Line of Credit
A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your residence. It provides access to funds to use for home improvement, education and debt consolidation.
- Save .25% on your interest rate by using autopay from your NBM checking account*
- Borrow 70% to 80% of the value of the property
- Minimum credit limit is $20,000 and the maximum is $250,000
- No draw fee, annual fee or early closure fee
- Can be used for home improvement, education, large purchases, debt consolidation, and more!
Purchase & Renovate Mortgage
If you are purchasing a home that requires rehabilitation, this program is a small-scale purchase and renovation in one.
- For primary and second-year round 1-4 family homes
- Up to $100,000 cash available for home renovations
- Borrow up to 89.9% of the cost to purchase and renovate
- 7/1 Adjustable-Rate Mortgage
- Term is 30 years or less
- No mortgage insurance required
Learning Center
Preparing to buy a home?
We can help you get there, whether it is saving for a down payment, improving your credit score or establishing a spending plan, read our Financial Tips to Reach your Goal article to learn more.
Learning Center
Credit Score
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