Mount Vernon Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Mount Vernon averaged 7.13% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 7.01% and one month ago for the week of 2024-03-14, the average rate was 6.97%.

    Mount Vernon's average rate one year ago was 6.5%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.3%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Mount Vernon 30 Year Fixed Rate 2024-04-18 7.13%
    Mount Vernon 30 Year Fixed Rate Refi 2024-04-18 7.3%
    Mount Vernon 15 Year Fixed Rate 2024-04-18 6.29%
    Mount Vernon 15 Year Fixed Rate Refi 2024-04-18 6.59%
    Mount Vernon 30 Year FHA 2024-04-18 6.66%
    Mount Vernon 30 Year FHA Refi 2024-04-18 7.06%
    Mount Vernon 30 Year USDA 2024-04-18 7.06%
    Mount Vernon 30 Year USDA Refi 2024-04-18 6.66%
    Mount Vernon 30 Year VA 2024-04-18 6.56%
    Mount Vernon 30 Year VA Refi 2024-04-18 6.76%
    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Peoples National Bank , N.A. 61 6.78% $2,298
    Petefish, Skiles & Co. 17 7.13% $2,628
    U.S. Bank 13 7.08% $3,093
    BROKER SOLUTIONS, INC. 10 6.70% $4,876
    First Mid Bank & Trust 9 6.29% $1,939
    QUICKEN LOANS, LLC 5 7.20% $4,185
    Banterra Bank 5 6.58% $2,792
    DELMAR FINANCIAL COMPANY 3 6.75% $3,006
    21ST MORTGAGE CORPORATION 2 7.70% $6,044
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.06% $4,440
    FLAT BRANCH MORTGAGE, INC. 2 6.75% $2,659
    GUARANTEED RATE, INC. 2 7.23% $3,903
    JPMorgan Chase Bank 2 6.31% $4,632
    NAVY FEDERAL CREDIT UNION 2 6.75% $2,128
    Stifel Bank and Trust 1 6.25% $1,832
    GERSHMAN INVESTMENT CORP. 1 6.13% $3,150
    Third Federal Savings and Loan Association of Cleveland 1 5.34% $0
    Ally Bank 1 7.38% $2,570
    Leaders Credit Union 1 6.75% $125
    Midland States Bank 1 8.13% $3,790
    Mr. Cooper ( Nationstar Mortgage ) 1 7.63% $3,320
    Wells Fargo Bank 1 8.13% $3,004
    Neighborhood Loans, Inc. 1 6.63% $5,098
    NEWREZ LLC 1 6.13% $5,583
    PENTAGON FEDERAL CREDIT UNION 1 7.63% $3,161
    Bankers' Bank 1 6.00% $2,604
    AMERISAVE MORTGAGE CORPORATION 1 7.25% $4,538
    PNC Bank 1 6.88% $7,965
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.99% $3,260
    Carrollton Bank 1 6.88% $2,475
    BOKF 1 7.00% $5,193
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.50% $3,125
    FCB Banks 1 6.75% $1,973
    BNC National Bank 1 5.88% $6,066

    Mount Vernon Average Closing Costs & Other Stats

    Mount Vernon, IL's 34 lenders originated 451 loans during 2023. The total origination value was $55,385,000, with an average loan value of $122,805.

    Mount Vernon's average closing costs are $3,511.

    The top Mount Vernon lender as defined by loan originations is Peoples National Bank , N.A., with 61 loans originated. Their average total fees are $2,298, which is $329 lower than the next largest lender, Petefish, Skiles & Co..

    The lowest fee Mount Vernon lenders (with over 10 loans originated) are Peoples National Bank , N.A. ($2,298), Petefish, Skiles & Co. ($2,628), U.S. Bank ($3,093), BROKER SOLUTIONS, INC. ($4,876) and .

    The lowest rate Mount Vernon lenders (with over 10 loans originated) are BROKER SOLUTIONS, INC. (6.70%), Peoples National Bank , N.A. (6.78%), U.S. Bank (7.08%), Petefish, Skiles & Co. (7.13%) 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    Peoples National Bank , N.A. $10,850,000 $10,725,000 -1.2% 19.4%
    Citibank $5,505,000 n/a 9.9%
    BROKER SOLUTIONS, INC. $4,535,000 $4,225,000 -6.8% 7.6%
    Petefish, Skiles & Co. $3,295,000 $3,070,000 -6.8% 5.5%
    U.S. Bank $5,275,000 $2,650,000 -49.8% 4.8%
    Mortgage Research Center, LLC $3,135,000 $2,150,000 -31.4% 3.9%
    QUICKEN LOANS, LLC $3,390,000 $1,945,000 -42.6% 3.5%
    First Mid Bank & Trust $3,265,000 $1,930,000 -40.9% 3.5%
    21ST MORTGAGE CORPORATION $285,000 $1,550,000 443.9% 2.8%
    AMERICAN PORTFOLIO MORTGAGE CORPORATION $1,700,000 $1,405,000 -17.4% 2.5%
    DELMAR FINANCIAL COMPANY $1,085,000 $1,030,000 -5.1% 1.9%
    TRIAD FINANCIAL SERVICES, INC. $775,000 $850,000 9.7% 1.5%
    Fifth Third Bank $3,965,000 $815,000 -79.4% 1.5%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $620,000 $780,000 25.8% 1.4%
    GUARANTEED RATE, INC. $160,000 $695,000 334.4% 1.3%
    NAVY FEDERAL CREDIT UNION $530,000 $645,000 21.7% 1.2%
    JPMorgan Chase Bank $85,000 $635,000 647.1% 1.1%
    Banterra Bank $410,000 $630,000 53.7% 1.1%
    FLAT BRANCH MORTGAGE, INC. $195,000 $630,000 223.1% 1.1%
    FCB Banks $745,000 $615,000 -17.4% 1.1%
    SCOTT CREDIT UNION $510,000 $590,000 15.7% 1.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $685,000 $535,000 -21.9% 1.0%
    NEWREZ LLC $430,000 $515,000 19.8% 0.9%
    ZILLOW HOME LOANS, LLC $435,000 n/a 0.8%
    GERSHMAN INVESTMENT CORP. $1,630,000 $400,000 -75.5% 0.7%
    EVERETT FINANCIAL, INC. $395,000 n/a 0.7%
    AMERISAVE MORTGAGE CORPORATION $450,000 $385,000 -14.4% 0.7%
    LOANDEPOT.COM, LLC $585,000 $375,000 -35.9% 0.7%
    PNC Bank $600,000 $320,000 -46.7% 0.6%
    Regions Bank $335,000 $305,000 -9.0% 0.6%
    ENDEAVOR CAPITAL, LLC. $575,000 $295,000 -48.7% 0.5%
    DIRECT MORTGAGE LOANS, LLC $285,000 n/a 0.5%
    Legence Bank $1,480,000 $285,000 -80.7% 0.5%
    The Farmers and Merchants National Bank of Nashville $850,000 $280,000 -67.1% 0.5%
    Midland States Bank $85,000 $275,000 223.5% 0.5%
    AMERICAN FINANCING CORPORATION $205,000 $270,000 31.7% 0.5%
    USAA Federal Savings Bank $145,000 $270,000 86.2% 0.5%
    First Financial Bank $595,000 $260,000 -56.3% 0.5%
    GUILD MORTGAGE COMPANY $440,000 $255,000 -42.0% 0.5%
    Equity Prime Mortgage LLC $245,000 n/a 0.4%
    PENNYMAC LOAN SERVICES, LLC $590,000 $245,000 -58.5% 0.4%
    Leaders Credit Union $225,000 n/a 0.4%
    Carrington Mortgage Services, LLC $220,000 n/a 0.4%
    Mr. Cooper ( Nationstar Mortgage ) $270,000 $215,000 -20.4% 0.4%
    Stifel Bank and Trust $215,000 n/a 0.4%
    The Bradford National Bank of Greenville $215,000 n/a 0.4%
    Neighborhood Loans, Inc. $135,000 $200,000 48.1% 0.4%
    Assurance Financial Group, L.L.C. $195,000 n/a 0.4%
    CITIZENS EQUITY FIRST $115,000 $195,000 69.6% 0.4%
    BOKF $185,000 n/a 0.3%
    Citizens Bank $185,000 n/a 0.3%
    Third Federal Savings and Loan Association of Cleveland $185,000 n/a 0.3%
    Community Partners Savings Bank $1,060,000 $180,000 -83.0% 0.3%
    FirstTrust Home Loans, Inc. $175,000 n/a 0.3%
    PENTAGON FEDERAL CREDIT UNION $415,000 $175,000 -57.8% 0.3%
    ROYAL UNITED MORTGAGE LLC $180,000 $160,000 -11.1% 0.3%
    BNC National Bank $155,000 n/a 0.3%
    NEW DAY FINANCIAL, LLC $225,000 $155,000 -31.1% 0.3%
    Bankers' Bank $395,000 $145,000 -63.3% 0.3%
    Bank of America $145,000 n/a 0.3%
    FIRST SOUTHERN BANK $420,000 $135,000 -67.9% 0.2%
    GSF Mortgage Corporation $125,000 n/a 0.2%
    IAA Credit Union $125,000 n/a 0.2%
    The Federal Savings Bank $125,000 n/a 0.2%
    CARDINAL FINANCIAL $65,000 $115,000 76.9% 0.2%
    Figure Lending LLC $75,000 $115,000 53.3% 0.2%
    CREDIT HUMAN FEDERAL CREDIT UNION $105,000 n/a 0.2%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $105,000 n/a 0.2%
    ALLIANT CREDIT UNION $95,000 n/a 0.2%
    Ally Bank $95,000 n/a 0.2%
    AMERICAN FINANCIAL RESOURCES, INC. $95,000 n/a 0.2%
    Arvest Bank $635,000 $95,000 -85.0% 0.2%
    TOTAL MORTGAGE SERVICES, LLC $95,000 n/a 0.2%
    Carrollton Bank $275,000 $85,000 -69.1% 0.2%
    Bank of Gibson City $75,000 n/a 0.1%
    Mid-Continent Funding, Inc. $75,000 n/a 0.1%
    Farmers State Bank of Alto Pass $65,000 n/a 0.1%
    The Bank of Herrin $65,000 n/a 0.1%
    Discover Bank $55,000 n/a 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $55,000 n/a 0.1%
    Coastal Community Bank $45,000 n/a 0.1%
    Wells Fargo Bank $85,000 $35,000 -58.8% 0.1%
    EVANSVILLE TEACHERS $45,000 $25,000 -44.4% 0.0%
    The First National Bank of Raymond $25,000 n/a 0.0%

    Mount Vernon's top lender by overall market share is Peoples National Bank , N.A., with 19.4% market share. In second place, with 9.9%, is Citibank, having originated $5,505,000 in loans. In third place, with 7.6%, is BROKER SOLUTIONS, INC., having originated $4,225,000 in loans. In fourth place, with 5.5%, is Petefish, Skiles & Co., having originated $3,070,000 in loans. In fifth place, with 4.8%, is U.S. Bank, having originated $2,650,000 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 $125,670 (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
    Mount Vernon's median listing price for 2024-03-01 was $141,000, a difference of $-24,325 (-14.7%) versus the prior year and $3,875 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 2024-03-01 was $206,786, a difference of $16,112 (8.5%) versus the prior year and $-29,832 versus the prior month.

    For the 2024-03-01 period, Mount Vernon had 46 MLS listings, a difference of 7 listings (18%) versus the prior month and 5 listings (12%) 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
    Mount Vernon's median listing age (time on market) for 2024-03-01 was 0 days.

    Mount Vernon's median square footage for active listings during the 2024-03-01 period was 1,639 sqft. One year prior, the average listing was 1,669 sqft.

    Mount Vernon, IL Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 335 $39,685,000 $118,463
    Refi 32 $3,990,000 $124,688
    Other 30 $1,500,000 $50,000
    Cash Out Refi 28 $3,180,000 $113,571
    Home Improvement 26 $7,030,000 $270,385

    Mount Vernon's most frequently cited loan purpose was Home Purchase, with 335 originations. The 2nd most popular reason was Refi, with 32 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 153 $20,555,000 $134,346
    7-8% 122 $14,410,000 $118,115
    Over 8% 86 $6,260,000 $72,791
    5-6% 48 $12,290,000 $256,042
    <2.5% 25 $135,000 $5,400
    4-5% 3 $425,000 $141,667

    During 2023, Mount Vernon's most frequently originated rate bucket was 6-7%, with 153 originations.

    Loan Sizing (Mount Vernon, IL MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 224 $11,910,000 $53,170
    $100k-200k 177 $24,935,000 $140,876
    $200k-400k 48 $12,630,000 $263,125
    $400k-600k 1 $405,000 $405,000
    $Over $1MM 1 $5,505,000 $5,505,000

    Mount Vernon's loan sizing saw the bucket of loans from $100,000 or less with 224 originations, totaling $11,910,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 210 $28,900,000 $137,619
    60-80% 97 $12,845,000 $132,423
    Under 20% 48 $810,000 $16,875
    20-40% 35 $7,505,000 $214,429
    40-60% 25 $2,785,000 $111,400
    Over 100% 2 $390,000 $195,000

    Mount Vernon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 210 originations, totaling $28,900,000 in origination value.