Mount Vernon USDA Loan Rates, Closing Costs & Stats

Mount Vernon, OH

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    • 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 6.37% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.5% and one month ago for the week of 2024-11-08, the average rate was 6.72%.

    The average rate one year ago was 7.09%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.4%.

    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
    2024-07-01 $324,900 (-7.2%) $414,388 (-5.1%) 0.00 150
    2024-08-01 $347,400 (-7.3%) $479,182 (4.3%) 0.00 120
    2024-09-01 $366,000 (4.6%) $482,805 (17.4%) 0.00 121
    2024-10-01 $372,450 (9.5%) $495,884 (14.2%) 0.00 134
    2024-11-01 $361,000 (8.6%) $448,736 (5.2%) 0.00 128
    Mount Vernon's median listing price for 2024-11-01 was $361,000, a difference of $28,500 (8.6%) versus the prior year and $-11,450 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 2024-11-01 was $448,736, a difference of $22,239 (5.2%) versus the prior year and $-47,148 versus the prior month.

    For the 2024-11-01 period, Mount Vernon had 128 MLS listings, a difference of -6 listings (-4%) versus the prior month and 28 listings (28%) 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 2,058 sqft
    2024-07-01 0 days 2,032 sqft
    2024-08-01 0 days 1,940 sqft
    2024-09-01 0 days 1,975 sqft
    2024-10-01 0 days 2,012 sqft
    2024-11-01 0 days 1,838 sqft
    Mount Vernon's median listing age (time on market) for 2024-11-01 was 0 days.

    Mount Vernon's median square footage for active listings during the 2024-11-01 period was 1,838 sqft. One year prior, the average listing was 1,964 sqft.