Mount Vernon USDA Loan Rates, Closing Costs & Stats

Mount Vernon, OH

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Mount Vernon's 14 lenders originated 32 USDA loans during 2024. The total origination value was $6,140,000, with an average USDA loan value of $191,875.

Mount Vernon USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Mount Vernon averaged 0.34% for the week of 2025-07-04, compared to the national average (all USDA variants) of 0% for the same period.

Mount Vernon's average USDA mortgage closing costs are $5,171.

The average rate for the prior week (2025-06-27) was 6.87% and one month ago for the week of 2025-05-30, the average rate was 6.96%.

The average rate one year ago was 7.05%.

For refis of the same type during the week of 2025-07-04, the average rate was 0.19%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Mount Vernon USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Mount Vernon level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 6.57% $7,865
UNION HOME MORTGAGE CORP. 3 6.08% $12,481
RUOFF MORTGAGE COMPANY, INC. 3 6.63% $5,433
UNITED WHOLESALE MORTGAGE, LLC 2 6.00% $9,370
LIBERTY HOME MORTGAGE CORPORATION 2 6.75% $3,538
NEWREZ LLC 2 7.00% $7,745
DIRECT MORTGAGE LOANS, LLC 1 6.75% $6,490
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.38% $4,589
NFM, INC. 1 6.75% $8,244
Equity Prime Mortgage LLC 1 7.25% $3,579
THE EQUITABLE MORTGAGE CORPORATION 1 6.63% $5,226
The State Bank and Trust Company 1 6.75% $6,035
EQUITY RESOURCES, INC. 1 6.13% $5,095
J. VIRGIL, INC. 1 6.63% $7,878

The top Mount Vernon USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 12 USDA loans originated. Their average total fees are $7,865, which is $4,616 lower than the next largest lender, UNION HOME MORTGAGE CORP..

The lowest fee Mount Vernon USDA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,865), .

The lowest rate Mount Vernon USDA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.57%), .