Mount Vernon VA Loan Rates, Closing Costs & Stats

Mount Vernon, IL

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Mount Vernon's 12 lenders originated 26 VA loans during 2023. The total origination value was $4,880,000, with an average VA loan value of $187,692.

    Mount Vernon VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mount Vernon averaged 6.3% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Mount Vernon's average VA mortgage closing costs are $4,089.

    The average rate for the prior week (2024-12-06) was 6.44% and one month ago for the week of 2024-11-08, the average rate was 6.53%.

    The average rate one year ago was 6.88%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

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

    Mount Vernon VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 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
    Mortgage Research Center, LLC 12 6.83% $4,205
    BROKER SOLUTIONS, INC. 4 6.34% $4,277
    Mid-Continent Funding, Inc. 1 6.00% $4,291
    NAVY FEDERAL CREDIT UNION 1 5.63% $2,423
    NEW DAY FINANCIAL, LLC 1 6.75% $5,451
    NEWREZ LLC 1 6.75% $3,058
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $2,817
    QUICKEN LOANS, LLC 1 5.75% $7,429
    SCOTT CREDIT UNION 1 6.25% $2,056
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 7.63% $1,692
    USAA Federal Savings Bank 1 7.38% $1,823
    Citizens Bank 1 7.13% $2,643

    The top Mount Vernon VA lender as defined by loan originations is Mortgage Research Center, LLC, with 12 VA loans originated. Their average total fees are $4,205, which is $72 lower than the next largest lender, BROKER SOLUTIONS, INC..

    The lowest fee Mount Vernon VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,205), .

    The lowest rate Mount Vernon VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.83%), .

    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 $119,900 (-1.1%) $141,603 (-4.5%) 0.00 156
    2018-02-01 $124,900 (2.0%) $147,627 (1.5%) 0.00 158
    2018-03-01 $124,900 (3.4%) $146,930 (2.1%) 0.00 161
    2018-04-01 $129,900 (8.3%) $151,242 (2.7%) 0.00 153
    2018-05-01 $128,350 (7.1%) $150,454 (2.4%) 0.00 158
    2018-06-01 $120,900 (0.8%) $147,196 (1.3%) 0.00 168
    2018-07-01 $120,675 (-0.3%) $145,362 (1.1%) 0.00 185
    2018-08-01 $119,650 (-0.2%) $146,063 (4.3%) 0.00 185
    2018-09-01 $117,900 (-0.7%) $147,963 (6.4%) 0.00 172
    2018-10-01 $119,875 (4.3%) $149,108 (5.8%) 0.00 164
    2018-11-01 $119,200 (2.4%) $149,845 (8.7%) 0.00 162
    2018-12-01 $109,700 (-7.2%) $147,962 (6.1%) 0.00 157
    2019-01-01 $103,425 (-13.7%) $140,990 (-0.4%) 0.00 144
    2019-02-01 $109,000 (-12.7%) $142,053 (-3.8%) 0.00 138
    2019-03-01 $114,114 (-8.6%) $153,394 (4.4%) 0.00 132
    2019-04-01 $114,014 (-12.2%) $159,908 (5.7%) 0.00 130
    2019-05-01 $118,100 (-8.0%) $169,954 (13.0%) 0.00 130
    2019-06-01 $132,450 (9.6%) $174,892 (18.8%) 0.00 136
    2019-07-01 $126,625 (4.9%) $181,503 (24.9%) 0.00 132
    2019-08-01 $125,670 (5.0%) $178,012 (21.9%) 0.00 138
    2019-09-01 $125,251 (6.2%) $172,421 (16.5%) 0.00 145
    2019-10-01 $124,984 (4.3%) $168,694 (13.1%) 0.00 150
    2019-11-01 $126,667 (6.3%) $165,596 (10.5%) 0.00 139
    2019-12-01 $123,875 (12.9%) $165,510 (11.9%) 0.00 134
    2020-01-01 $122,500 (18.4%) $170,810 (21.2%) 0.00 128
    2020-02-01 $125,000 (14.7%) $165,946 (16.8%) 0.00 136
    2020-03-01 $129,700 (13.7%) $173,467 (13.1%) 0.00 145
    2020-04-01 $131,975 (15.8%) $174,002 (8.8%) 0.00 148
    2020-05-01 $135,000 (14.3%) $176,398 (3.8%) 0.00 135
    2020-06-01 $138,250 (4.4%) $189,833 (8.5%) 0.00 125
    2020-07-01 $140,425 (10.9%) $197,349 (8.7%) 0.00 123
    2020-08-01 $159,950 (27.3%) $203,130 (14.1%) 0.00 111
    2020-09-01 $167,700 (33.9%) $215,143 (24.8%) 0.00 99
    2020-10-01 $185,250 (48.2%) $223,515 (32.5%) 0.00 83
    2020-11-01 $162,925 (28.6%) $212,442 (28.3%) 0.00 79
    2020-12-01 $158,250 (27.8%) $209,499 (26.6%) 0.00 78
    2021-01-01 $156,250 (27.6%) $204,145 (19.5%) 0.00 70
    2021-02-01 $163,450 (30.8%) $199,353 (20.1%) 0.00 65
    2021-03-01 $159,500 (23.0%) $211,045 (21.7%) 0.00 52
    2021-04-01 $150,875 (14.3%) $200,985 (15.5%) 0.00 45
    2021-05-01 $145,900 (8.1%) $184,487 (4.6%) 0.00 47
    2021-06-01 $143,450 (3.8%) $199,573 (5.1%) 0.00 53
    2021-07-01 $147,900 (5.3%) $198,444 (0.6%) 0.00 59
    2021-08-01 $152,475 (-4.7%) $196,069 (-3.5%) 0.00 60
    2021-09-01 $189,000 (12.7%) $209,497 (-2.6%) 0.00 62
    2021-10-01 $149,000 (-19.6%) $201,533 (-9.8%) 0.00 56
    2021-11-01 $150,575 (-7.6%) $193,789 (-8.8%) 0.00 56
    2021-12-01 $131,125 (-17.1%) $183,015 (-12.6%) 0.00 53
    2022-01-01 $184,900 (18.3%) $208,227 (2.0%) 0.00 42
    2022-02-01 $157,225 (-3.8%) $194,718 (-2.3%) 0.00 41
    2022-03-01 $132,450 (-17.0%) $177,631 (-15.8%) 0.00 37
    2022-04-01 $129,000 (-14.5%) $183,393 (-8.8%) 0.00 33
    2022-05-01 $134,000 (-8.2%) $194,716 (5.5%) 0.00 35
    2022-06-01 $141,000 (-1.7%) $195,538 (-2.0%) 0.00 43
    2022-07-01 $142,750 (-3.5%) $200,809 (1.2%) 0.00 47
    2022-08-01 $149,950 (-1.7%) $197,393 (0.7%) 0.00 51
    2022-09-01 $137,875 (-27.1%) $189,196 (-9.7%) 0.00 49
    2022-10-01 $154,000 (3.4%) $183,716 (-8.8%) 0.00 49
    2022-11-01 $140,250 (-6.9%) $189,540 (-2.2%) 0.00 51
    2022-12-01 $151,500 (15.5%) $190,998 (4.4%) 0.00 43
    2023-01-01 $172,500 (-6.7%) $203,174 (-2.4%) 0.00 38
    2023-02-01 $177,500 (12.9%) $195,054 (0.2%) 0.00 37
    2023-03-01 $165,325 (24.8%) $190,674 (7.3%) 0.00 41
    2023-04-01 $189,950 (47.3%) $200,066 (9.1%) 0.00 38
    2023-05-01 $211,200 (57.6%) $218,142 (12.0%) 0.00 38
    2023-06-01 $202,750 (43.8%) $225,563 (15.4%) 0.00 42
    2023-07-01 $168,000 (17.7%) $201,962 (0.6%) 0.00 42
    2023-08-01 $165,600 (10.4%) $179,350 (-9.1%) 0.00 38
    2023-09-01 $159,250 (15.5%) $180,262 (-4.7%) 0.00 40
    2023-10-01 $143,750 (-6.7%) $178,095 (-3.1%) 0.00 44
    2023-11-01 $135,750 (-3.2%) $180,224 (-4.9%) 0.00 41
    2023-12-01 $135,000 (-10.9%) $200,512 (5.0%) 0.00 43
    2024-01-01 $129,925 (-24.7%) $215,529 (6.1%) 0.00 40
    2024-02-01 $137,125 (-22.8%) $236,618 (21.3%) 0.00 39
    2024-03-01 $141,000 (-14.7%) $206,786 (8.5%) 0.00 46
    2024-04-01 $144,750 (-23.8%) $209,863 (4.9%) 0.00 46
    2024-05-01 $167,438 (-20.7%) $213,663 (-2.1%) 0.00 43
    2024-06-01 $139,750 (-31.1%) $197,636 (-12.4%) 0.00 46
    2024-07-01 $158,175 (-5.9%) $192,446 (-4.7%) 0.00 58
    2024-08-01 $169,900 (2.6%) $197,101 (9.9%) 0.00 58
    2024-09-01 $179,813 (12.9%) $203,501 (12.9%) 0.00 52
    2024-10-01 $176,000 (22.4%) $214,519 (20.5%) 0.00 54
    2024-11-01 $182,500 (34.4%) $217,133 (20.5%) 0.00 53
    Mount Vernon's median listing price for 2024-11-01 was $182,500, a difference of $46,750 (34.4%) versus the prior year and $6,500 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 $217,133, a difference of $36,909 (20.5%) versus the prior year and $2,614 versus the prior month.

    For the 2024-11-01 period, Mount Vernon had 53 MLS listings, a difference of -1 listings (-2%) versus the prior month and 12 listings (29%) 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 1,800 sqft
    2018-02-01 0 days 1,810 sqft
    2018-03-01 0 days 1,841 sqft
    2018-04-01 0 days 1,805 sqft
    2018-05-01 0 days 1,744 sqft
    2018-06-01 0 days 1,733 sqft
    2018-07-01 0 days 1,725 sqft
    2018-08-01 0 days 1,714 sqft
    2018-09-01 0 days 1,714 sqft
    2018-10-01 0 days 1,715 sqft
    2018-11-01 0 days 1,680 sqft
    2018-12-01 0 days 1,676 sqft
    2019-01-01 0 days 1,671 sqft
    2019-02-01 0 days 1,658 sqft
    2019-03-01 0 days 1,693 sqft
    2019-04-01 0 days 1,697 sqft
    2019-05-01 0 days 1,739 sqft
    2019-06-01 0 days 1,856 sqft
    2019-07-01 0 days 1,828 sqft
    2019-08-01 0 days 1,793 sqft
    2019-09-01 0 days 1,751 sqft
    2019-10-01 0 days 1,728 sqft
    2019-11-01 0 days 1,713 sqft
    2019-12-01 0 days 1,695 sqft
    2020-01-01 0 days 1,747 sqft
    2020-02-01 0 days 1,764 sqft
    2020-03-01 0 days 1,755 sqft
    2020-04-01 0 days 1,758 sqft
    2020-05-01 0 days 1,744 sqft
    2020-06-01 0 days 1,841 sqft
    2020-07-01 0 days 1,890 sqft
    2020-08-01 0 days 1,820 sqft
    2020-09-01 0 days 1,941 sqft
    2020-10-01 0 days 2,056 sqft
    2020-11-01 0 days 1,899 sqft
    2020-12-01 0 days 1,843 sqft
    2021-01-01 0 days 1,861 sqft
    2021-02-01 0 days 1,860 sqft
    2021-03-01 0 days 2,079 sqft
    2021-04-01 0 days 1,984 sqft
    2021-05-01 0 days 1,817 sqft
    2021-06-01 0 days 1,793 sqft
    2021-07-01 0 days 1,915 sqft
    2021-08-01 0 days 1,753 sqft
    2021-09-01 0 days 1,886 sqft
    2021-10-01 0 days 1,732 sqft
    2021-11-01 0 days 1,670 sqft
    2021-12-01 0 days 1,684 sqft
    2022-01-01 0 days 1,536 sqft
    2022-02-01 0 days 1,518 sqft
    2022-03-01 0 days 1,518 sqft
    2022-04-01 0 days 1,464 sqft
    2022-05-01 0 days 1,434 sqft
    2022-06-01 0 days 1,463 sqft
    2022-07-01 0 days 1,614 sqft
    2022-08-01 0 days 1,604 sqft
    2022-09-01 0 days 1,619 sqft
    2022-10-01 0 days 1,604 sqft
    2022-11-01 0 days 1,586 sqft
    2022-12-01 0 days 1,620 sqft
    2023-01-01 0 days 1,704 sqft
    2023-02-01 0 days 1,709 sqft
    2023-03-01 0 days 1,669 sqft
    2023-04-01 0 days 1,697 sqft
    2023-05-01 0 days 1,798 sqft
    2023-06-01 0 days 1,922 sqft
    2023-07-01 0 days 1,837 sqft
    2023-08-01 0 days 1,622 sqft
    2023-09-01 0 days 1,604 sqft
    2023-10-01 0 days 1,569 sqft
    2023-11-01 0 days 1,560 sqft
    2023-12-01 0 days 1,566 sqft
    2024-01-01 0 days 1,571 sqft
    2024-02-01 0 days 1,563 sqft
    2024-03-01 0 days 1,639 sqft
    2024-04-01 0 days 1,540 sqft
    2024-05-01 0 days 1,585 sqft
    2024-06-01 0 days 1,507 sqft
    2024-07-01 0 days 1,514 sqft
    2024-08-01 0 days 1,514 sqft
    2024-09-01 0 days 1,568 sqft
    2024-10-01 0 days 1,700 sqft
    2024-11-01 0 days 1,612 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 1,612 sqft. One year prior, the average listing was 1,560 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.