Vernon USDA Loan Rates, Closing Costs & Stats

Vernon, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Vernon's 3 lenders originated 5 USDA loans during 2023. The total origination value was $725,000, with an average USDA loan value of $145,000.

    Vernon USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Vernon averaged 0.21% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Vernon's average USDA mortgage closing costs are $5,388.

    The average rate for the prior week (2024-11-08) was 6.27% and one month ago for the week of 2024-10-11, the average rate was 6.03%.

    The average rate one year ago was 7.45%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.2%.

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

    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 Vernon level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Network Funding, L.P. 3 7.00% $6,123
    FLAT BRANCH MORTGAGE, INC. 1 7.13% $4,619
    GUILD MORTGAGE COMPANY 1 6.50% $7,237

    The top Vernon USDA lender as defined by loan originations is Network Funding, L.P., with 3 USDA loans originated. Their average total fees are $6,123, which is $1,504 higher than the next largest lender, FLAT BRANCH MORTGAGE, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - 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 $101,750 (27.4%) $116,633 (13.0%) 0.00 12
    2018-02-01 $109,900 (37.6%) $143,399 (36.1%) 0.00 9
    2018-03-01 $169,500 (38.9%) $173,125 (34.2%) 0.00 10
    2018-04-01 $162,300 (20.3%) $166,189 (-14.4%) 0.00 18
    2018-05-01 $142,350 (-50.7%) $141,125 (-51.1%) 0.00 28
    2018-06-01 $133,450 (-47.7%) $135,471 (-46.9%) 0.00 25
    2018-07-01 $109,000 (-39.3%) $126,186 (-39.1%) 0.00 27
    2018-08-01 $82,000 (-24.4%) $113,581 (-28.0%) 0.00 24
    2018-09-01 $99,000 (-16.8%) $132,152 (-20.1%) 0.00 24
    2018-10-01 $120,975 (11.5%) $133,067 (-13.2%) 0.00 30
    2018-11-01 $107,475 (8.0%) $126,396 (4.2%) 0.00 33
    2018-12-01 $117,500 (8.3%) $127,557 (1.0%) 0.00 36
    2019-01-01 $125,750 (23.6%) $129,306 (10.9%) 0.00 32
    2019-02-01 $130,375 (18.6%) $134,721 (-6.1%) 0.00 26
    2019-03-01 $120,000 (-29.2%) $129,487 (-25.2%) 0.00 25
    2019-04-01 $120,000 (-26.1%) $129,809 (-21.9%) 0.00 21
    2019-05-01 $141,850 (-0.4%) $159,166 (12.8%) 0.00 16
    2019-06-01 $134,700 (0.9%) $152,252 (12.4%) 0.00 18
    2019-07-01 $132,450 (21.5%) $149,370 (18.4%) 0.00 20
    2019-08-01 $126,964 (54.8%) $143,511 (26.4%) 0.00 19
    2019-09-01 $122,484 (23.7%) $142,069 (7.5%) 0.00 19
    2019-10-01 $118,625 (-1.9%) $137,209 (3.1%) 0.00 18
    2019-11-01 $116,700 (8.6%) $122,720 (-2.9%) 0.00 15
    2019-12-01 $116,300 (-1.0%) $121,996 (-4.4%) 0.00 13
    2020-01-01 $86,225 (-31.4%) $112,400 (-13.1%) 0.00 19
    2020-02-01 $87,000 (-33.3%) $112,104 (-16.8%) 0.00 24
    2020-03-01 $87,000 (-27.5%) $111,383 (-14.0%) 0.00 26
    2020-04-01 $83,000 (-30.8%) $112,760 (-13.1%) 0.00 25
    2020-05-01 $80,900 (-43.0%) $107,992 (-32.2%) 0.00 20
    2020-06-01 $88,250 (-34.5%) $108,054 (-29.0%) 0.00 15
    2020-07-01 $95,750 (-27.7%) $116,113 (-22.3%) 0.00 14
    2020-08-01 $98,750 (-22.2%) $123,087 (-14.2%) 0.00 15
    2020-09-01 $93,500 (-23.7%) $118,208 (-16.8%) 0.00 13
    2020-10-01 $95,000 (-19.9%) $135,146 (-1.5%) 0.00 12
    2020-11-01 $84,475 (-27.6%) $138,733 (13.1%) 0.00 10
    2020-12-01 $89,875 (-22.7%) $137,038 (12.3%) 0.00 9
    2021-01-01 $74,500 (-13.6%) $119,880 (6.7%) 0.00 7
    2021-02-01 $129,375 (48.7%) $154,915 (38.2%) 0.00 4
    2021-03-01 $113,125 (30.0%) $121,600 (9.2%) 0.00 6
    2021-04-01 $105,000 (26.5%) $108,140 (-4.1%) 0.00 9
    2021-05-01 $98,000 (21.1%) $96,780 (-10.4%) 0.00 6
    2021-06-01 $89,000 (0.9%) $103,047 (-4.6%) 0.00 10
    2021-07-01 $82,000 (-14.4%) $110,981 (-4.4%) 0.00 13
    2021-08-01 $83,500 (-15.4%) $115,732 (-6.0%) 0.00 17
    2021-09-01 $79,000 (-15.5%) $102,383 (-13.4%) 0.00 16
    2021-10-01 $79,000 (-16.8%) $98,300 (-27.3%) 0.00 15
    2021-11-01 $85,625 (1.4%) $129,089 (-7.0%) 0.00 16
    2021-12-01 $85,000 (-5.4%) $106,065 (-22.6%) 0.00 16
    2022-01-01 $86,250 (15.8%) $128,900 (7.5%) 0.00 14
    2022-02-01 $137,450 (6.2%) $129,387 (-16.5%) 0.00 13
    2022-03-01 $116,500 (3.0%) $121,808 (0.2%) 0.00 13
    2022-04-01 $133,950 (27.6%) $159,883 (47.9%) 0.00 17
    2022-05-01 $153,750 (56.9%) $193,943 (100.4%) 0.00 14
    2022-06-01 $145,000 (62.9%) $184,745 (79.3%) 0.00 15
    2022-07-01 $161,250 (96.7%) $206,193 (85.8%) 0.00 18
    2022-08-01 $179,450 (114.9%) $205,939 (77.9%) 0.00 22
    2022-09-01 $177,500 (124.7%) $206,522 (101.7%) 0.00 25
    2022-10-01 $127,000 (60.8%) $156,913 (59.6%) 0.00 29
    2022-11-01 $100,737 (17.7%) $138,433 (7.2%) 0.00 32
    2022-12-01 $99,316 (16.8%) $157,300 (48.3%) 0.00 28
    2023-01-01 $96,908 (12.4%) $141,329 (9.6%) 0.00 27
    2023-02-01 $85,750 (-37.6%) $146,588 (13.3%) 0.00 21
    2023-03-01 $82,000 (-29.6%) $156,969 (28.9%) 0.00 18
    2023-04-01 $109,250 (-18.4%) $161,494 (1.0%) 0.00 19
    2023-05-01 $120,625 (-21.5%) $161,259 (-16.9%) 0.00 25
    2023-06-01 $97,475 (-32.8%) $126,010 (-31.8%) 0.00 32
    2023-07-01 $105,000 (-34.9%) $137,880 (-33.1%) 0.00 40
    2023-08-01 $105,000 (-41.5%) $144,212 (-30.0%) 0.00 42
    2023-09-01 $107,500 (-39.4%) $145,785 (-29.4%) 0.00 42
    2023-10-01 $135,975 (7.1%) $168,236 (7.2%) 0.00 42
    2023-11-01 $136,000 (35.0%) $174,730 (26.2%) 0.00 35
    2023-12-01 $140,000 (41.0%) $184,128 (17.1%) 0.00 31
    2024-01-01 $137,975 (42.4%) $178,408 (26.2%) 0.00 29
    2024-02-01 $128,500 (49.9%) $169,227 (15.4%) 0.00 26
    2024-03-01 $138,500 (68.9%) $167,013 (6.4%) 0.00 29
    2024-04-01 $155,000 (41.9%) $183,631 (13.7%) 0.00 29
    2024-05-01 $166,125 (37.7%) $192,781 (19.6%) 0.00 23
    2024-06-01 $162,250 (66.5%) $197,243 (56.5%) 0.00 21
    2024-07-01 $167,450 (59.5%) $200,511 (45.4%) 0.00 31
    2024-08-01 $169,900 (61.8%) $198,296 (37.5%) 0.00 27
    2024-09-01 $169,250 (57.4%) $193,925 (33.0%) 0.00 26
    2024-10-01 $166,000 (22.1%) $175,417 (4.3%) 0.00 26
    Vernon's median listing price for 2024-10-01 was $166,000, a difference of $30,025 (22.1%) versus the prior year and $-3,250 versus the prior month.

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

    Vernon's average listing price for 2024-10-01 was $175,417, a difference of $7,181 (4.3%) versus the prior year and $-18,508 versus the prior month.

    For the 2024-10-01 period, Vernon had 26 MLS listings, a difference of 0 listings (0%) versus the prior month and -16 listings (-38%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - 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 2,038 sqft
    2018-02-01 0 days 1,994 sqft
    2018-03-01 0 days 2,162 sqft
    2018-04-01 0 days 2,325 sqft
    2018-05-01 0 days 2,229 sqft
    2018-06-01 0 days 2,222 sqft
    2018-07-01 0 days 2,076 sqft
    2018-08-01 0 days 1,964 sqft
    2018-09-01 0 days 1,772 sqft
    2018-10-01 0 days 1,789 sqft
    2018-11-01 0 days 1,778 sqft
    2018-12-01 0 days 1,775 sqft
    2019-01-01 0 days 1,850 sqft
    2019-02-01 0 days 1,929 sqft
    2019-03-01 0 days 1,890 sqft
    2019-04-01 0 days 1,865 sqft
    2019-05-01 0 days 2,044 sqft
    2019-06-01 0 days 2,160 sqft
    2019-07-01 0 days 2,134 sqft
    2019-08-01 0 days 2,107 sqft
    2019-09-01 0 days 2,028 sqft
    2019-10-01 0 days 1,976 sqft
    2019-11-01 0 days 1,986 sqft
    2019-12-01 0 days 1,995 sqft
    2020-01-01 0 days 1,953 sqft
    2020-02-01 0 days 1,909 sqft
    2020-03-01 0 days 1,924 sqft
    2020-04-01 0 days 1,967 sqft
    2020-05-01 0 days 2,004 sqft
    2020-06-01 0 days 1,931 sqft
    2020-07-01 0 days 1,978 sqft
    2020-08-01 0 days 1,863 sqft
    2020-09-01 0 days 1,901 sqft
    2020-10-01 0 days 2,046 sqft
    2020-11-01 0 days 2,062 sqft
    2020-12-01 0 days 2,016 sqft
    2021-01-01 0 days 2,139 sqft
    2021-02-01 0 days 2,416 sqft
    2021-03-01 0 days 2,197 sqft
    2021-04-01 0 days 1,792 sqft
    2021-05-01 0 days 1,520 sqft
    2021-06-01 0 days 1,502 sqft
    2021-07-01 0 days 1,379 sqft
    2021-08-01 0 days 1,552 sqft
    2021-09-01 0 days 1,293 sqft
    2021-10-01 0 days 1,237 sqft
    2021-11-01 0 days 1,565 sqft
    2021-12-01 0 days 1,288 sqft
    2022-01-01 0 days 1,360 sqft
    2022-02-01 0 days 1,731 sqft
    2022-03-01 0 days 1,704 sqft
    2022-04-01 0 days 1,728 sqft
    2022-05-01 0 days 2,181 sqft
    2022-06-01 0 days 2,108 sqft
    2022-07-01 0 days 2,371 sqft
    2022-08-01 0 days 2,640 sqft
    2022-09-01 0 days 2,246 sqft
    2022-10-01 0 days 1,711 sqft
    2022-11-01 0 days 1,653 sqft
    2022-12-01 0 days 1,583 sqft
    2023-01-01 0 days 1,416 sqft
    2023-02-01 0 days 1,421 sqft
    2023-03-01 0 days 1,408 sqft
    2023-04-01 0 days 1,456 sqft
    2023-05-01 0 days 1,564 sqft
    2023-06-01 0 days 1,464 sqft
    2023-07-01 0 days 1,460 sqft
    2023-08-01 0 days 1,525 sqft
    2023-09-01 0 days 1,605 sqft
    2023-10-01 0 days 1,666 sqft
    2023-11-01 0 days 1,700 sqft
    2023-12-01 0 days 1,723 sqft
    2024-01-01 0 days 1,771 sqft
    2024-02-01 0 days 1,614 sqft
    2024-03-01 0 days 1,452 sqft
    2024-04-01 0 days 1,728 sqft
    2024-05-01 0 days 1,842 sqft
    2024-06-01 0 days 1,650 sqft
    2024-07-01 0 days 1,558 sqft
    2024-08-01 0 days 1,596 sqft
    2024-09-01 0 days 1,627 sqft
    2024-10-01 0 days 1,521 sqft
    Vernon's median listing age (time on market) for 2024-10-01 was 0 days.

    Vernon's median square footage for active listings during the 2024-10-01 period was 1,521 sqft. One year prior, the average listing was 1,666 sqft.