Mount Vernon Mortgage Rates & Closing Costs

  • JUMP TO:
  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Market Conditions & Pricing
  • Time on Market/Property Size
  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Mount Vernon averaged 7.16% for the week of 2023-12-07, compared to the national average of 7.03% for the same period.

    The average rate for the prior week (2023-11-30) was 7.25% and one month ago for the week of 2023-11-02, the average rate was 7.69%.

    Mount Vernon's average rate one year ago was 6.42%.

    For refis of the same type during the week of 2023-12-07, the average rate was 7.43%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-12-07 7.03%
    Mount Vernon 30 Year Fixed Rate 2023-12-07 7.16%
    Mount Vernon 30 Year Fixed Rate Refi 2023-12-07 7.43%
    Mount Vernon 15 Year Fixed Rate 2023-12-07 6.09%
    Mount Vernon 15 Year Fixed Rate Refi 2023-12-07 6.69%
    Mount Vernon 30 Year FHA 2023-12-07 7.02%
    Mount Vernon 30 Year FHA Refi 2023-12-07 6.82%
    Mount Vernon 30 Year USDA 2023-12-07 7.02%
    Mount Vernon 30 Year USDA Refi 2023-12-07 6.82%
    Mount Vernon 30 Year VA 2023-12-07 6.74%
    Mount Vernon 30 Year VA Refi 2023-12-07 6.64%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Mount Vernon, IL.

    Mount Vernon Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Mount Vernon, IL market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Peoples National Bank , N.A. 49 5.46% $2,257
    U.S. Bank 18 5.40% $2,444
    Petefish, Skiles & Co. 17 5.24% $2,246
    First Mid Bank & Trust 10 4.81% $1,741
    BROKER SOLUTIONS, INC. 6 6.33% $4,469
    QUICKEN LOANS, LLC 5 5.38% $4,957
    Fifth Third Bank 4 6.40% $2,385
    GERSHMAN INVESTMENT CORP. 4 4.97% $6,651
    Banterra Bank 3 4.33% $2,539
    DELMAR FINANCIAL COMPANY 3 5.92% $3,645
    Community Mortgage Banc Corporation 3 5.78% $2,587
    SCOTT CREDIT UNION 3 5.00% $2,249
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 6.25% $5,411
    AMERISAVE MORTGAGE CORPORATION 2 3.94% $5,048
    GUILD MORTGAGE COMPANY 2 6.25% $3,075
    PENNYMAC LOAN SERVICES, LLC 2 5.62% $6,812
    UNITED WHOLESALE MORTGAGE, LLC 2 3.63% $4,811
    First Financial Bank 1 7.50% $2,504
    Credit Union 1 1 4.13% $3,093
    FREEDOM MORTGAGE CORPORATION 1 4.38% $1,758
    CMG MORTGAGE, INC. 1 3.63% $1,605
    GUARANTEED RATE, INC. 1 4.88% $2,802
    21ST MORTGAGE CORPORATION 1 8.30% $4,919
    LOANDEPOT.COM, LLC 1 3.63% $2,856
    Midwest Community Bank 1 5.25% $2,618
    Morgan Stanley Private Bank 1 5.45% $2,602
    Mortgage Research Center, LLC 1 7.38% $829
    Mr. Cooper ( Nationstar Mortgage ) 1 5.99% $8,114
    AMERICAN FINANCING CORPORATION 1 5.88% $6,585
    PENTAGON FEDERAL CREDIT UNION 1 4.25% $1,523
    CARDINAL FINANCIAL 1 4.63% $2,963
    Barrington Bank & Trust Company, N.A. 1 5.88% $3,255
    Bankers' Bank 1 5.25% $2,806
    Regions Bank 1 5.88% $4,820
    ROYAL UNITED MORTGAGE LLC 1 5.88% $4,035
    Arvest Bank 1 4.50% $4,781
    SUN WEST MORTGAGE COMPANY, INC. 1 3.75% $1,796
    ENDEAVOR CAPITAL, LLC. 1 4.50% $1,944
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.49% $4,119
    Dieterich Bank 1 5.13% $1,727

    Mount Vernon Average Closing Costs & Other Stats

    Mount Vernon, IL's 40 lenders originated 544 loans during 2022. The total origination value was $65,530,000, with an average loan value of $120,460.

    Mount Vernon's average closing costs are $3,412.

    The top Mount Vernon lender as defined by loan originations is Peoples National Bank , N.A., with 49 loans originated. Their average total fees are $2,257, which is $187 lower than the next largest lender, U.S. Bank.

    The lowest fee Mount Vernon lenders (with over 10 loans originated) are First Mid Bank & Trust ($1,741), Petefish, Skiles & Co. ($2,246), Peoples National Bank , N.A. ($2,257), U.S. Bank ($2,444) and .

    The lowest rate Mount Vernon lenders (with over 10 loans originated) are First Mid Bank & Trust (4.81%), Petefish, Skiles & Co. (5.24%), U.S. Bank (5.40%), Peoples National Bank , N.A. (5.46%) and .

    Mount Vernon, IL Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    Peoples National Bank , N.A. $14,580,000 $10,850,000 -25.6% 16.6%
    U.S. Bank $9,680,000 $5,275,000 -45.5% 8.0%
    BROKER SOLUTIONS, INC. $5,320,000 $4,535,000 -14.8% 6.9%
    Fifth Third Bank $4,385,000 $3,965,000 -9.6% 6.1%
    QUICKEN LOANS, LLC $9,465,000 $3,390,000 -64.2% 5.2%
    Petefish, Skiles & Co. $2,995,000 $3,295,000 10.0% 5.0%
    First Mid Bank & Trust $3,930,000 $3,265,000 -16.9% 5.0%
    Mortgage Research Center, LLC $2,505,000 $3,135,000 25.1% 4.8%
    AMERICAN PORTFOLIO MORTGAGE CORPORATION $1,350,000 $1,700,000 25.9% 2.6%
    GERSHMAN INVESTMENT CORP. $745,000 $1,630,000 118.8% 2.5%
    Legence Bank $3,980,000 $1,480,000 -62.8% 2.3%
    DELMAR FINANCIAL COMPANY $695,000 $1,085,000 56.1% 1.7%
    Community Partners Savings Bank $1,635,000 $1,060,000 -35.2% 1.6%
    Community Mortgage Banc Corporation $450,000 $1,030,000 128.9% 1.6%
    The Farmers and Merchants National Bank of Nashville $935,000 $850,000 -9.1% 1.3%
    FREEDOM MORTGAGE CORPORATION $1,550,000 $835,000 -46.1% 1.3%
    TRIAD FINANCIAL SERVICES, INC. $75,000 $775,000 933.3% 1.2%
    FCB Banks $1,375,000 $745,000 -45.8% 1.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $310,000 $685,000 121.0% 1.0%
    Arvest Bank $480,000 $635,000 32.3% 1.0%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $75,000 $620,000 726.7% 0.9%
    PNC Bank $100,000 $600,000 500.0% 0.9%
    First Financial Bank $555,000 $595,000 7.2% 0.9%
    PENNYMAC LOAN SERVICES, LLC $855,000 $590,000 -31.0% 0.9%
    LOANDEPOT.COM, LLC $1,265,000 $585,000 -53.8% 0.9%
    ENDEAVOR CAPITAL, LLC. $515,000 $575,000 11.7% 0.9%
    NAVY FEDERAL CREDIT UNION $610,000 $530,000 -13.1% 0.8%
    UNITED WHOLESALE MORTGAGE, LLC $165,000 $515,000 212.1% 0.8%
    SCOTT CREDIT UNION $250,000 $510,000 104.0% 0.8%
    AMERISAVE MORTGAGE CORPORATION $555,000 $450,000 -18.9% 0.7%
    GUILD MORTGAGE COMPANY $395,000 $440,000 11.4% 0.7%
    NEWREZ LLC $480,000 $430,000 -10.4% 0.7%
    Morgan Stanley Private Bank $425,000 n/a 0.6%
    FIRST SOUTHERN BANK. $420,000 n/a 0.6%
    PENTAGON FEDERAL CREDIT UNION $415,000 n/a 0.6%
    Banterra Bank $1,930,000 $410,000 -78.8% 0.6%
    Bankers' Bank $880,000 $395,000 -55.1% 0.6%
    The FNB Community Bank $200,000 $360,000 80.0% 0.5%
    Regions Bank $775,000 $335,000 -56.8% 0.5%
    CMG MORTGAGE, INC. $300,000 n/a 0.5%
    21ST MORTGAGE CORPORATION $320,000 $285,000 -10.9% 0.4%
    Carrollton Bank $145,000 $275,000 89.7% 0.4%
    The Peoples State Bank of Newton, Illinois $275,000 n/a 0.4%
    Mr. Cooper ( Nationstar Mortgage ) $1,000,000 $270,000 -73.0% 0.4%
    Germantown Trust & Savings Bank $175,000 $245,000 40.0% 0.4%
    NEW DAY FINANCIAL, LLC $145,000 $225,000 55.2% 0.3%
    DAS Acquisition Company, LLC $685,000 $220,000 -67.9% 0.3%
    AMERICAN FINANCING CORPORATION $205,000 n/a 0.3%
    Nations Lending Corporation $75,000 $200,000 166.7% 0.3%
    FLAT BRANCH MORTGAGE, INC. $225,000 $195,000 -13.3% 0.3%
    Hometown Lenders, Inc. $185,000 n/a 0.3%
    ROYAL UNITED MORTGAGE LLC $180,000 $180,000 0.0% 0.3%
    AMERICAN PACIFIC MORTGAGE CORPORATION $175,000 n/a 0.3%
    GUARANTEED RATE, INC. $250,000 $160,000 -36.0% 0.2%
    Flagstar Bank, FSB $155,000 $155,000 0.0% 0.2%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $145,000 n/a 0.2%
    USAA Federal Savings Bank $410,000 $145,000 -64.6% 0.2%
    VILLAGE CAPITAL MORTGAGE $95,000 $145,000 52.6% 0.2%
    Dieterich Bank $95,000 $135,000 42.1% 0.2%
    Neighborhood Loans, Inc. $135,000 n/a 0.2%
    CALIBER HOME LOANS, INC. $190,000 $125,000 -34.2% 0.2%
    Community Bank of Trenton $125,000 n/a 0.2%
    CITIZENS EQUITY FIRST $205,000 $115,000 -43.9% 0.2%
    Commerce Home Mortgage, Inc. $115,000 n/a 0.2%
    SOUTHWEST STAGE FUNDING, LLC $270,000 $115,000 -57.4% 0.2%
    Town & Country Banc Mortgage Services, Inc. $135,000 $115,000 -14.8% 0.2%
    REVERSE MORTGAGE FUNDING LLC $105,000 n/a 0.2%
    FAMILY FINANCE MORTGAGE, LLC $105,000 $95,000 -9.5% 0.1%
    JPMorgan Chase Bank $245,000 $85,000 -65.3% 0.1%
    Midland States Bank $550,000 $85,000 -84.5% 0.1%
    Wells Fargo Bank $490,000 $85,000 -82.7% 0.1%
    Credit Union 1 $75,000 n/a 0.1%
    Figure Lending LLC $75,000 $75,000 0.0% 0.1%
    Midwest Community Bank $75,000 n/a 0.1%
    SUN WEST MORTGAGE COMPANY, INC. $75,000 n/a 0.1%
    The Home Loan Expert LLC $255,000 $75,000 -70.6% 0.1%
    United Fidelity Funding Corp. $75,000 n/a 0.1%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $65,000 n/a 0.1%
    First National Bank of Waterloo $55,000 n/a 0.1%
    EVANSVILLE TEACHERS $680,000 $45,000 -93.4% 0.1%
    Barrington Bank & Trust Company, N.A. $290,000 $35,000 -87.9% 0.1%
    Home Loan Investment Bank, F.S.B. $25,000 n/a 0.0%
    AMERICAN ADVISORS GROUP $15,000 n/a 0.0%

    Mount Vernon's top lender by overall market share is Peoples National Bank , N.A., with 16.6% market share. In second place, with 8.0%, is U.S. Bank, having originated $5,275,000 in loans. In third place, with 6.9%, is BROKER SOLUTIONS, INC., having originated $4,535,000 in loans. In fourth place, with 6.1%, is Fifth Third Bank, having originated $3,965,000 in loans. In fifth place, with 5.2%, is QUICKEN LOANS, LLC, having originated $3,390,000 in loans.

    Mount Vernon Housing Market Trends (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 $125,677 (5.0%) $178,378 (22.1%) 0.00 139
    2019-09-01 $125,268 (6.3%) $173,337 (17.2%) 0.00 146
    2019-10-01 $125,008 (4.3%) $169,977 (14.0%) 0.00 150
    2019-11-01 $128,283 (7.6%) $166,528 (11.1%) 0.00 140
    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 (13.9%) 0.00 111
    2020-09-01 $167,700 (33.9%) $215,143 (24.1%) 0.00 99
    2020-10-01 $185,250 (48.2%) $223,515 (31.5%) 0.00 83
    2020-11-01 $162,925 (27.0%) $212,442 (27.6%) 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
    Mount Vernon's median listing price for 2023-11-01 was $135,750, a difference of $-4,500 (-3.2%) versus the prior year and $-8,000 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 2023-11-01 was $180,224, a difference of $-9,316 (-4.9%) versus the prior year and $2,129 versus the prior month.

    For the 2023-11-01 period, Mount Vernon had 41 MLS listings, a difference of -3 listings (-7%) versus the prior month and -10 listings (-20%) 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 1,796 sqft
    2018-02-01 0 days 1,805 sqft
    2018-03-01 0 days 1,838 sqft
    2018-04-01 0 days 1,805 sqft
    2018-05-01 0 days 1,740 sqft
    2018-06-01 0 days 1,728 sqft
    2018-07-01 0 days 1,722 sqft
    2018-08-01 0 days 1,710 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 1,795 sqft
    2019-09-01 0 days 1,756 sqft
    2019-10-01 0 days 1,733 sqft
    2019-11-01 0 days 1,720 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 1,752 sqft
    2020-04-01 0 days 1,752 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 1,924 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
    Mount Vernon's median listing age (time on market) for 2023-11-01 was 0 days.

    Mount Vernon's median square footage for active listings during the 2023-11-01 period was 1,560 sqft. One year prior, the average listing was 1,586 sqft.

    Mount Vernon, IL Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 304 $39,610,000 $130,296
    Refi 101 $11,325,000 $112,129
    Cash Out Refi 79 $11,095,000 $140,443
    Other 32 $1,900,000 $59,375
    Home Improvement 28 $1,600,000 $57,143

    Mount Vernon's most frequently cited loan purpose was Home Purchase, with 304 originations. The 2nd most popular reason was Refi, with 101 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 132 $16,750,000 $126,894
    3-4% 99 $11,545,000 $116,616
    4-5% 89 $12,475,000 $140,169
    6-7% 85 $10,955,000 $128,882
    7-8% 49 $3,845,000 $78,469
    2.5-3% 29 $3,425,000 $118,103
    <2.5% 19 $1,275,000 $67,105
    Over 8% 7 $445,000 $63,571

    During 2022, Mount Vernon's most frequently originated rate bucket was 5-6%, with 132 originations.

    Loan Sizing (Mount Vernon, IL MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 257 $14,135,000 $55,000
    $100k-200k 211 $29,415,000 $139,408
    $200k-400k 64 $16,100,000 $251,563
    $400k-600k 10 $4,570,000 $457,000
    $600k-1000k 2 $1,310,000 $655,000

    Mount Vernon's loan sizing saw the bucket of loans from $100,000 or less with 257 originations, totaling $14,135,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 234 $34,980,000 $149,487
    60-80% 121 $15,955,000 $131,860
    20-40% 49 $2,785,000 $56,837
    40-60% 41 $3,685,000 $89,878
    Under 20% 30 $810,000 $27,000
    Over 100% 9 $1,535,000 $170,556

    Mount Vernon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 234 originations, totaling $34,980,000 in origination value.