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 brings strength to your offers, signaling that you're financially prepared and ready to make an offer. 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:
