Mount Vernon VA Loan Rates, Closing Costs & Stats

Mount Vernon, OH

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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 33 lenders originated 70 VA loans during 2023. The total origination value was $21,220,000, with an average VA loan value of $303,143.

    Mount Vernon VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mount Vernon averaged 0.59% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Mount Vernon's average VA mortgage closing costs are $5,774.

    The average rate for the prior week (2024-11-08) was 6.5% and one month ago for the week of 2024-10-11, the average rate was 6.27%.

    The average rate one year ago was 7.36%.

    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.

    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 7.10% $8,542
    QUICKEN LOANS, LLC 6 6.27% $14,493
    NFM, INC. 5 6.48% $11,697
    GUARANTEED RATE, INC. 3 6.55% $10,642
    UNION HOME MORTGAGE CORP. 3 6.63% $8,318
    UNITED WHOLESALE MORTGAGE, LLC 3 6.53% $10,290
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.16% $7,104
    NEW DAY FINANCIAL, LLC 2 7.25% $11,753
    BROKER SOLUTIONS, INC. 2 7.00% $6,538
    LOANDEPOT.COM, LLC 2 6.62% $7,875
    CROSSCOUNTRY MORTGAGE, LLC 2 6.75% $10,584
    EQUITY RESOURCES, INC. 2 6.38% $5,458
    The Park National Bank 2 6.25% $7,695
    NAVY FEDERAL CREDIT UNION 2 5.63% $17,541
    THE EQUITABLE MORTGAGE CORPORATION 1 5.75% $9,755
    The Federal Savings Bank 1 7.75% $14,187
    The Huntington National Bank 1 6.25% $9,446
    THRIVE MORTGAGE, LLC 1 7.13% $7,985
    AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $3,779
    USAA Federal Savings Bank 1 6.63% $7,866
    Barrington Bank & Trust Company, N.A. 1 5.25% $2,441
    First Commonwealth Bank 1 7.13% $3,636
    FREEDOM MORTGAGE CORPORATION 1 6.75% $3,576
    GSF Mortgage Corporation 1 7.25% $4,229
    HOMESIDE FINANCIAL, LLC 1 6.99% $19,682
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.25% $15,716
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $16,380
    NATIONS DIRECT MORTGAGE, LLC 1 6.63% $4,715
    Nations Lending Corporation 1 6.75% $22,957
    NEWREZ LLC 1 6.25% $4,334
    PENNYMAC LOAN SERVICES, LLC 1 6.50% $8,832
    RUOFF MORTGAGE COMPANY, INC. 1 6.75% $8,878
    T2 FINANCIAL LLC 1 6.75% $701

    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 $8,542, which is $5,951 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Mount Vernon VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,542), .

    The lowest rate Mount Vernon VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.10%), .

    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
    Mount Vernon's median listing price for 2024-10-01 was $372,450, a difference of $32,450 (9.5%) versus the prior year and $6,450 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 2024-10-01 was $495,884, a difference of $61,723 (14.2%) versus the prior year and $13,079 versus the prior month.

    For the 2024-10-01 period, Mount Vernon had 134 MLS listings, a difference of 13 listings (11%) versus the prior month and 26 listings (24%) 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
    Mount Vernon's median listing age (time on market) for 2024-10-01 was 0 days.

    Mount Vernon's median square footage for active listings during the 2024-10-01 period was 2,012 sqft. One year prior, the average listing was 2,033 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.