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 10 lenders originated 13 USDA loans during 2023. The total origination value was $2,035,000, with an average USDA loan value of $156,538.

Mount Vernon USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Mount Vernon averaged 6.94% for the week of 2024-07-12, compared to the national average (all USDA variants) of 6.672% for the same period.

Mount Vernon's average USDA mortgage closing costs are $4,965.

The average rate for the prior week (2024-07-05) was 6.8% and one month ago for the week of 2024-06-07, the average rate was 7.07%.

The average rate one year ago was 6.85%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.77%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.33% $6,765
UNION HOME MORTGAGE CORP. 2 6.56% $6,587
FIRST COMMUNITY MORTGAGE, INC. 1 7.63% $3,421
GUILD MORTGAGE COMPANY 1 6.13% $5,549
C E S 1 7.63% $6,369
LOANDEPOT.COM, LLC 1 6.25% $4,504
MICHIGAN MUTUAL, INC. 1 7.13% $8,974
RUOFF MORTGAGE COMPANY, INC. 1 7.00% $2,747
J. VIRGIL, INC. 1 7.13% $6,508
EQUITY RESOURCES, INC. 1 6.50% $8,323

The top Mount Vernon USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 3 USDA loans originated. Their average total fees are $6,765, which is $178 higher than the next largest lender, UNION HOME MORTGAGE CORP..

The lowest fee Mount Vernon USDA lenders (with over 10 loans originated) are .

The lowest rate Mount Vernon USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Mount Vernon (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $140,563 (0.9%) $187,948 (1.2%) 0.00 154
2018-02-01 $142,475 (4.1%) $189,520 (7.2%) 0.00 142
2018-03-01 $154,950 (6.3%) $202,841 (7.2%) 0.00 161
2018-04-01 $177,419 (18.5%) $230,938 (21.2%) 0.00 169
2018-05-01 $179,250 (22.0%) $239,226 (23.8%) 0.00 215
2018-06-01 $164,950 (17.0%) $230,228 (16.5%) 0.00 221
2018-07-01 $159,925 (14.3%) $228,947 (14.5%) 0.00 200
2018-08-01 $163,725 (17.0%) $227,687 (17.9%) 0.00 198
2018-09-01 $164,950 (19.8%) $232,824 (27.2%) 0.00 201
2018-10-01 $157,350 (12.5%) $225,115 (23.5%) 0.00 199
2018-11-01 $156,000 (9.4%) $222,221 (22.6%) 0.00 178
2018-12-01 $159,200 (11.4%) $215,354 (15.2%) 0.00 160
2019-01-01 $167,600 (19.2%) $233,945 (24.5%) 0.00 143
2019-02-01 $162,900 (14.3%) $236,469 (24.8%) 0.00 132
2019-03-01 $168,086 (8.5%) $239,515 (18.1%) 0.00 150
2019-04-01 $174,136 (-1.9%) $247,653 (7.2%) 0.00 175
2019-05-01 $183,738 (2.5%) $244,322 (2.1%) 0.00 199
2019-06-01 $179,900 (9.1%) $259,507 (12.7%) 0.00 190
2019-07-01 $188,000 (17.6%) $248,337 (8.5%) 0.00 207
2019-08-01 $188,164 (14.9%) $254,247 (11.7%) 0.00 192
2019-09-01 $186,328 (13.0%) $255,960 (9.9%) 0.00 162
2019-10-01 $184,900 (17.5%) $263,818 (17.2%) 0.00 139
2019-11-01 $185,000 (18.6%) $274,911 (23.7%) 0.00 138
2019-12-01 $178,425 (12.1%) $260,842 (21.1%) 0.00 136
2020-01-01 $173,175 (3.3%) $257,404 (10.0%) 0.00 116
2020-02-01 $174,950 (7.4%) $259,586 (9.8%) 0.00 93
2020-03-01 $174,950 (4.1%) $253,400 (5.8%) 0.00 94
2020-04-01 $165,250 (-5.1%) $248,128 (0.2%) 0.00 99
2020-05-01 $179,900 (-2.1%) $270,963 (10.9%) 0.00 99
2020-06-01 $187,400 (4.2%) $288,378 (11.1%) 0.00 76
2020-07-01 $197,450 (5.0%) $303,778 (22.3%) 0.00 62
2020-08-01 $181,950 (-3.3%) $328,017 (29.0%) 0.00 45
2020-09-01 $199,450 (7.0%) $300,101 (17.2%) 0.00 52
2020-10-01 $188,750 (2.1%) $249,444 (-5.5%) 0.00 48
2020-11-01 $155,950 (-15.7%) $216,434 (-21.3%) 0.00 56
2020-12-01 $147,450 (-17.4%) $202,323 (-22.4%) 0.00 39
2021-01-01 $147,450 (-14.9%) $183,959 (-28.5%) 0.00 31
2021-02-01 $151,175 (-13.6%) $204,847 (-21.1%) 0.00 22
2021-03-01 $182,825 (4.5%) $222,535 (-12.2%) 0.00 27
2021-04-01 $231,950 (40.4%) $295,745 (19.2%) 0.00 29
2021-05-01 $202,400 (12.5%) $264,288 (-2.5%) 0.00 32
2021-06-01 $227,450 (21.4%) $299,401 (3.8%) 0.00 40
2021-07-01 $217,450 (10.1%) $333,485 (9.8%) 0.00 60
2021-08-01 $247,425 (36.0%) $380,513 (16.0%) 0.00 60
2021-09-01 $245,169 (22.9%) $372,429 (24.1%) 0.00 67
2021-10-01 $244,950 (29.8%) $399,420 (60.1%) 0.00 68
2021-11-01 $227,500 (45.9%) $360,620 (66.6%) 0.00 63
2021-12-01 $227,450 (54.3%) $343,143 (69.6%) 0.00 52
2022-01-01 $252,900 (71.5%) $360,421 (95.9%) 0.00 41
2022-02-01 $253,650 (67.8%) $320,057 (56.2%) 0.00 34
2022-03-01 $268,363 (46.8%) $291,396 (30.9%) 0.00 39
2022-04-01 $233,000 (0.5%) $276,511 (-6.5%) 0.00 43
2022-05-01 $196,950 (-2.7%) $298,070 (12.8%) 0.00 42
2022-06-01 $246,175 (8.2%) $337,085 (12.6%) 0.00 56
2022-07-01 $249,900 (14.9%) $357,895 (7.3%) 0.00 58
2022-08-01 $284,614 (15.0%) $390,323 (2.6%) 0.00 63
2022-09-01 $322,475 (31.5%) $437,631 (17.5%) 0.00 59
2022-10-01 $284,950 (16.3%) $433,353 (8.5%) 0.00 66
2022-11-01 $327,450 (43.9%) $462,396 (28.2%) 0.00 66
2022-12-01 $264,900 (16.5%) $364,352 (6.2%) 0.00 59
2023-01-01 $297,425 (17.6%) $373,668 (3.7%) 0.00 61
2023-02-01 $298,400 (17.6%) $393,655 (23.0%) 0.00 60
2023-03-01 $317,450 (18.3%) $410,240 (40.8%) 0.00 57
2023-04-01 $337,000 (44.6%) $450,804 (63.0%) 0.00 55
2023-05-01 $371,225 (88.5%) $467,580 (56.9%) 0.00 63
2023-06-01 $381,225 (54.9%) $490,867 (45.6%) 0.00 79
2023-07-01 $350,000 (40.1%) $436,643 (22.0%) 0.00 78
2023-08-01 $374,700 (31.7%) $459,523 (17.7%) 0.00 89
2023-09-01 $350,000 (8.5%) $411,227 (-6.0%) 0.00 93
2023-10-01 $340,000 (19.3%) $434,161 (0.2%) 0.00 108
2023-11-01 $332,500 (1.5%) $426,497 (-7.8%) 0.00 100
2023-12-01 $335,000 (26.5%) $433,482 (19.0%) 0.00 85
2024-01-01 $338,725 (13.9%) $452,868 (21.2%) 0.00 66
2024-02-01 $352,925 (18.3%) $471,843 (19.9%) 0.00 66
2024-03-01 $362,000 (14.0%) $506,517 (23.5%) 0.00 67
2024-04-01 $399,975 (18.7%) $560,702 (24.4%) 0.00 73
2024-05-01 $411,225 (10.8%) $591,642 (26.5%) 0.00 82
2024-06-01 $414,900 (8.8%) $562,961 (14.7%) 0.00 88
Mount Vernon's median listing price for 2024-06-01 was $414,900, a difference of $33,675 (8.8%) versus the prior year and $3,675 versus the prior month.

Mount Vernon's median listing price comes in at 0% of the national average.

Mount Vernon's average listing price for 2024-06-01 was $562,961, a difference of $72,094 (14.7%) versus the prior year and $-28,681 versus the prior month.

For the 2024-06-01 period, Mount Vernon had 88 MLS listings, a difference of 6 listings (7%) versus the prior month and 9 listings (11%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Mount Vernon (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,628 sqft
2018-02-01 0 days 1,582 sqft
2018-03-01 0 days 1,680 sqft
2018-04-01 0 days 1,813 sqft
2018-05-01 0 days 1,854 sqft
2018-06-01 0 days 1,852 sqft
2018-07-01 0 days 1,773 sqft
2018-08-01 0 days 1,720 sqft
2018-09-01 0 days 1,771 sqft
2018-10-01 0 days 1,768 sqft
2018-11-01 0 days 1,728 sqft
2018-12-01 0 days 1,680 sqft
2019-01-01 0 days 1,680 sqft
2019-02-01 0 days 1,676 sqft
2019-03-01 0 days 1,697 sqft
2019-04-01 0 days 1,728 sqft
2019-05-01 0 days 1,806 sqft
2019-06-01 0 days 1,870 sqft
2019-07-01 0 days 1,806 sqft
2019-08-01 0 days 1,845 sqft
2019-09-01 0 days 1,901 sqft
2019-10-01 0 days 1,944 sqft
2019-11-01 0 days 1,943 sqft
2019-12-01 0 days 1,830 sqft
2020-01-01 0 days 1,861 sqft
2020-02-01 0 days 1,845 sqft
2020-03-01 0 days 1,712 sqft
2020-04-01 0 days 1,801 sqft
2020-05-01 0 days 1,845 sqft
2020-06-01 0 days 1,887 sqft
2020-07-01 0 days 1,740 sqft
2020-08-01 0 days 1,890 sqft
2020-09-01 0 days 1,862 sqft
2020-10-01 0 days 1,709 sqft
2020-11-01 0 days 1,604 sqft
2020-12-01 0 days 1,588 sqft
2021-01-01 0 days 1,656 sqft
2021-02-01 0 days 1,417 sqft
2021-03-01 0 days 1,587 sqft
2021-04-01 0 days 2,228 sqft
2021-05-01 0 days 1,767 sqft
2021-06-01 0 days 1,852 sqft
2021-07-01 0 days 1,821 sqft
2021-08-01 0 days 1,883 sqft
2021-09-01 0 days 1,976 sqft
2021-10-01 0 days 2,033 sqft
2021-11-01 0 days 2,088 sqft
2021-12-01 0 days 1,926 sqft
2022-01-01 0 days 1,887 sqft
2022-02-01 0 days 1,784 sqft
2022-03-01 0 days 1,859 sqft
2022-04-01 0 days 1,985 sqft
2022-05-01 0 days 1,705 sqft
2022-06-01 0 days 1,892 sqft
2022-07-01 0 days 1,813 sqft
2022-08-01 0 days 1,877 sqft
2022-09-01 0 days 1,925 sqft
2022-10-01 0 days 1,925 sqft
2022-11-01 0 days 2,085 sqft
2022-12-01 0 days 1,681 sqft
2023-01-01 0 days 1,796 sqft
2023-02-01 0 days 1,890 sqft
2023-03-01 0 days 2,073 sqft
2023-04-01 0 days 2,008 sqft
2023-05-01 0 days 2,190 sqft
2023-06-01 0 days 2,232 sqft
2023-07-01 0 days 2,217 sqft
2023-08-01 0 days 2,285 sqft
2023-09-01 0 days 2,128 sqft
2023-10-01 0 days 2,033 sqft
2023-11-01 0 days 1,964 sqft
2023-12-01 0 days 1,865 sqft
2024-01-01 0 days 1,874 sqft
2024-02-01 0 days 2,113 sqft
2024-03-01 0 days 2,115 sqft
2024-04-01 0 days 2,196 sqft
2024-05-01 0 days 2,192 sqft
2024-06-01 0 days 2,048 sqft
Mount Vernon's median listing age (time on market) for 2024-06-01 was 0 days.

Mount Vernon's median square footage for active listings during the 2024-06-01 period was 2,048 sqft. One year prior, the average listing was 2,232 sqft.