Mount Vernon VA Loan Rates, Closing Costs & Stats

Mount Vernon, OH

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 6.8% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

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

The average rate for the prior week (2024-05-10) was 6.9% and one month ago for the week of 2024-04-12, the average rate was 7.08%.

The average rate one year ago was 6.39%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.7%.

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
Mount Vernon's median listing price for 2024-04-01 was $399,975, a difference of $62,975 (18.7%) versus the prior year and $37,975 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 2024-04-01 was $560,702, a difference of $109,898 (24.4%) versus the prior year and $54,185 versus the prior month.

For the 2024-04-01 period, Mount Vernon had 73 MLS listings, a difference of 6 listings (9%) versus the prior month and 18 listings (33%) 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 1,872 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
Mount Vernon's median listing age (time on market) for 2024-04-01 was 0 days.

Mount Vernon's median square footage for active listings during the 2024-04-01 period was 2,196 sqft. One year prior, the average listing was 2,008 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.