Mount Vernon Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Mount Vernon averaged
7.16%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
7% and
one month ago for the week of 2023-08-10, the
average rate was 6.94%.
Mount Vernon's average rate one year ago was 5.67%.
For refis of the same type during the week of 2023-09-14, the average rate
was 6.19%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
| Mount Vernon 30 Year Fixed Rate | 2023-09-14 | 7.16% |
| Mount Vernon 30 Year Fixed Rate Refi | 2023-09-14 | 6.19% |
| Mount Vernon 15 Year Fixed Rate | 2023-09-14 | 6.71% |
| Mount Vernon 15 Year Fixed Rate Refi | 2023-09-14 | 6.81% |
| Mount Vernon 30 Year FHA | 2023-09-14 | 7.13% |
| Mount Vernon 30 Year FHA Refi | 2023-09-14 | 6.99% |
| Mount Vernon 30 Year USDA | 2023-09-14 | 6.98% |
| Mount Vernon 30 Year USDA Refi | 2023-09-14 | 7.08% |
| Mount Vernon 30 Year VA | 2023-09-14 | 6.81% |
| Mount Vernon 30 Year VA Refi | 2023-09-14 | 6.91% |
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, OH 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.).
Mount Vernon Average Closing Costs & Other Stats
Mount Vernon, OH's 112 lenders originated 1,750
loans during 2022. The total origination value was $315,820,000, with an average loan value of
$180,469.
Mount Vernon's average closing costs are $4,347.
The top Mount Vernon lender as defined by loan originations is The Park National Bank, with
101 loans originated. Their average total fees are
$3,369, which is $1,280
lower than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Mount Vernon lenders (with over 10 loans originated) are
Union Savings Bank ($1,758), EQUITY RESOURCES, INC. ($3,092), The Park National Bank ($3,369), PNC Bank ($3,526) and Third Federal Savings and Loan Association of Cleveland ($4,070).
The lowest rate Mount Vernon lenders (with over 10 loans originated) are
Third Federal Savings and Loan Association of Cleveland (3.29%), Union Savings Bank (3.76%), JPMorgan Chase Bank (4.45%), The Huntington National Bank (4.60%) and Mr. Cooper ( Nationstar Mortgage ) (4.66%).
Mount Vernon, OH 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 |
|---|---|---|---|---|
| The Park National Bank | $74,470,000 | $49,065,000 | -34.1% | 15.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $36,585,000 | $23,635,000 | -35.4% | 7.5% |
| The Huntington National Bank | $25,650,000 | $18,420,000 | -28.2% | 5.8% |
| QUICKEN LOANS, LLC | $34,800,000 | $18,035,000 | -48.2% | 5.7% |
| UNION HOME MORTGAGE CORP. | $33,795,000 | $13,620,000 | -59.7% | 4.3% |
| PNC Bank | $8,245,000 | $8,560,000 | 3.8% | 2.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $4,520,000 | $8,360,000 | 85.0% | 2.6% |
| First Commonwealth Bank | $4,215,000 | $7,260,000 | 72.2% | 2.3% |
| C E S | $7,780,000 | $6,885,000 | -11.5% | 2.2% |
| Union Savings Bank | $9,330,000 | $5,815,000 | -37.7% | 1.8% |
| Mechanics Bank | $4,090,000 | $5,680,000 | 38.9% | 1.8% |
| JPMorgan Chase Bank | $10,520,000 | $5,600,000 | -46.8% | 1.8% |
| Farm Credit Mid-America, ACA | $7,590,000 | $5,590,000 | -26.4% | 1.8% |
| EQUITY RESOURCES, INC. | $8,490,000 | $4,815,000 | -43.3% | 1.5% |
| Mr. Cooper ( Nationstar Mortgage ) | $6,470,000 | $4,425,000 | -31.6% | 1.4% |
| NFM, INC. | $1,865,000 | $4,250,000 | 127.9% | 1.3% |
| WesBanco Bank, Inc. | $2,885,000 | $4,005,000 | 38.8% | 1.3% |
| Third Federal Savings and Loan Association of Cleveland | $4,475,000 | $3,700,000 | -17.3% | 1.2% |
| Fifth Third Bank | $6,745,000 | $3,650,000 | -45.9% | 1.2% |
| T2 FINANCIAL LLC | $2,645,000 | $3,635,000 | 37.4% | 1.2% |
| Mortgage Research Center, LLC | $6,145,000 | $3,460,000 | -43.7% | 1.1% |
| RUOFF MORTGAGE COMPANY, INC. | $3,435,000 | $3,275,000 | -4.7% | 1.0% |
| LOANDEPOT.COM, LLC | $5,650,000 | $3,030,000 | -46.4% | 1.0% |
| U.S. Bank | $3,310,000 | $2,860,000 | -13.6% | 0.9% |
| WRIGHT-PATT CREDIT UNION, INC. | $1,205,000 | $2,490,000 | 106.6% | 0.8% |
| AMERISAVE MORTGAGE CORPORATION | $2,100,000 | $2,375,000 | 13.1% | 0.8% |
| First Federal Savings and Loan Association | $3,050,000 | $2,145,000 | -29.7% | 0.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $3,305,000 | $2,125,000 | -35.7% | 0.7% |
| FREEDOM MORTGAGE CORPORATION | $8,045,000 | $2,060,000 | -74.4% | 0.7% |
| Wells Fargo Bank | $2,160,000 | $1,995,000 | -7.6% | 0.6% |
| CALIBER HOME LOANS, INC. | $4,720,000 | $1,990,000 | -57.8% | 0.6% |
| KEMBA FINANCIAL | $2,245,000 | $1,930,000 | -14.0% | 0.6% |
| First Financial Bank | $1,930,000 | $1,920,000 | -0.5% | 0.6% |
| NEWREZ LLC | $2,935,000 | $1,860,000 | -36.6% | 0.6% |
| Heartland Bank | $2,125,000 | $1,815,000 | -14.6% | 0.6% |
| GSF Mortgage Corporation | $1,810,000 | n/a | 0.6% | |
| First Merchants Bank | $830,000 | $1,725,000 | 107.8% | 0.5% |
| First Federal Savings and Loan Association of Lakewood | $2,960,000 | $1,625,000 | -45.1% | 0.5% |
| CNB Bank | $2,485,000 | $1,555,000 | -37.4% | 0.5% |
| Flagstar Bank, FSB | $1,915,000 | $1,530,000 | -20.1% | 0.5% |
| HOME POINT FINANCIAL CORPORATION | $2,440,000 | $1,520,000 | -37.7% | 0.5% |
| The State Bank and Trust Company | $2,410,000 | $1,485,000 | -38.4% | 0.5% |
| The Community Bank | $1,280,000 | $1,395,000 | 9.0% | 0.4% |
| NAVY FEDERAL CREDIT UNION | $1,315,000 | $1,360,000 | 3.4% | 0.4% |
| Peoples Bank | $1,845,000 | $1,350,000 | -26.8% | 0.4% |
| AMERICAN FINANCING CORPORATION | $910,000 | $1,315,000 | 44.5% | 0.4% |
| Cf Bank | $2,130,000 | $1,285,000 | -39.7% | 0.4% |
| LIMA ONE CAPITAL, LLC | $1,220,000 | n/a | 0.4% | |
| TELHIO | $540,000 | $1,175,000 | 117.6% | 0.4% |
| PENTAGON FEDERAL CREDIT UNION | $1,660,000 | $1,155,000 | -30.4% | 0.4% |
| Bank of America | $495,000 | $1,110,000 | 124.2% | 0.4% |
| BAYSHORE MORTGAGE FUNDING, LLC | $235,000 | $1,110,000 | 372.3% | 0.4% |
| THE EQUITABLE MORTGAGE CORPORATION | $4,110,000 | $1,080,000 | -73.7% | 0.3% |
| FIRST OHIO HOME FINANCE, INC. | $1,300,000 | $1,070,000 | -17.7% | 0.3% |
| GUARANTEED RATE AFFINITY, LLC | $825,000 | $1,055,000 | 27.9% | 0.3% |
| The Federal Savings Bank | $995,000 | $1,030,000 | 3.5% | 0.3% |
| HOMESIDE FINANCIAL, LLC | $2,435,000 | $1,015,000 | -58.3% | 0.3% |
| J. VIRGIL, INC. | $505,000 | $990,000 | 96.0% | 0.3% |
| Citizens Bank | $540,000 | $970,000 | 79.6% | 0.3% |
| RELIANCE FIRST CAPITAL, LLC | $425,000 | $970,000 | 128.2% | 0.3% |
| The Union Bank Company | $2,340,000 | $945,000 | -59.6% | 0.3% |
| NEW DAY FINANCIAL, LLC | $1,310,000 | $940,000 | -28.2% | 0.3% |
| East Coast Capital Corp. | $335,000 | $925,000 | 176.1% | 0.3% |
| PRIORITY MORTGAGE CORP. | $1,865,000 | $905,000 | -51.5% | 0.3% |
| AMERICAN MORTGAGE SERVICE COMPANY | $575,000 | $880,000 | 53.0% | 0.3% |
| Northwest Bank | $175,000 | $860,000 | 391.4% | 0.3% |
| BMI Federal Credit Union | $740,000 | $855,000 | 15.5% | 0.3% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $1,440,000 | $850,000 | -41.0% | 0.3% |
| Northpointe Bank | $165,000 | $820,000 | 397.0% | 0.3% |
| Carrington Mortgage Services, LLC | $1,395,000 | $805,000 | -42.3% | 0.3% |
| LAKEVIEW LOAN SERVICING, LLC | $2,470,000 | $765,000 | -69.0% | 0.2% |
| PENNYMAC LOAN SERVICES, LLC | $1,670,000 | $765,000 | -54.2% | 0.2% |
| UNITED MORTGAGE CORP. | $730,000 | $765,000 | 4.8% | 0.2% |
| SECURITYNATIONAL MORTGAGE COMPANY | $745,000 | n/a | 0.2% | |
| Hometown Lenders, Inc. | $2,485,000 | $700,000 | -71.8% | 0.2% |
| Charles Schwab Bank, SSB | $695,000 | n/a | 0.2% | |
| GUARANTEED RATE, INC. | $1,760,000 | $650,000 | -63.1% | 0.2% |
| Civista Bank | $235,000 | $645,000 | 174.5% | 0.2% |
| The Commercial and Savings Bank of Millersburg Ohio | $495,000 | $645,000 | 30.3% | 0.2% |
| Barrington Bank & Trust Company, N.A. | $360,000 | $635,000 | 76.4% | 0.2% |
| CHURCHILL MORTGAGE CORPORATION | $165,000 | $635,000 | 284.8% | 0.2% |
| Kingston National Bank | $1,555,000 | $630,000 | -59.5% | 0.2% |
| Discover Bank | $150,000 | $625,000 | 316.7% | 0.2% |
| REVERSE MORTGAGE FUNDING LLC | $575,000 | n/a | 0.2% | |
| Nations Lending Corporation | $1,315,000 | $565,000 | -57.0% | 0.2% |
| AMERIFIRST FINANCIAL CORPORATION | $450,000 | $550,000 | 22.2% | 0.2% |
| Directions Credit Union, Inc. | $540,000 | n/a | 0.2% | |
| Westfield Bank, FSB | $535,000 | n/a | 0.2% | |
| The Savings Bank | $195,000 | $505,000 | 159.0% | 0.2% |
| USAA Federal Savings Bank | $575,000 | $500,000 | -13.0% | 0.2% |
| CENTRAL COAST LENDING, INC. | $495,000 | n/a | 0.2% | |
| ROYAL UNITED MORTGAGE LLC | $645,000 | $490,000 | -24.0% | 0.2% |
| RAPID MORTGAGE COMPANY | $1,715,000 | $485,000 | -71.7% | 0.2% |
| FIRST COMMUNITY MORTGAGE, INC. | $1,030,000 | $480,000 | -53.4% | 0.2% |
| GUILD MORTGAGE COMPANY | $625,000 | $480,000 | -23.2% | 0.2% |
| BROKER SOLUTIONS, INC. | $1,915,000 | $465,000 | -75.7% | 0.1% |
| MOVEMENT MORTGAGE, LLC | $275,000 | $460,000 | 67.3% | 0.1% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $155,000 | $420,000 | 171.0% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,130,000 | $390,000 | -65.5% | 0.1% |
| MORIA DEVELOPMENT, INC. | $180,000 | $380,000 | 111.1% | 0.1% |
| CALCON MUTUAL MORTGAGE LLC | $235,000 | $375,000 | 59.6% | 0.1% |
| HOPEWELL Federal Credit Union | $85,000 | $375,000 | 341.2% | 0.1% |
| First Federal Bank of the Midwest | $4,265,000 | $365,000 | -91.4% | 0.1% |
| Unified Bank | $365,000 | n/a | 0.1% | |
| M&T Bank | $310,000 | $355,000 | 14.5% | 0.1% |
| TrueCore Federal Credit Union | $410,000 | $355,000 | -13.4% | 0.1% |
| NP, Inc. | $350,000 | n/a | 0.1% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $345,000 | n/a | 0.1% | |
| DAS Acquisition Company, LLC | $345,000 | n/a | 0.1% | |
| GENEVA FINANCIAL, LLC | $205,000 | $345,000 | 68.3% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $810,000 | $335,000 | -58.6% | 0.1% |
| NATIONWIDE MORTGAGE BANKERS, INC. | $475,000 | $305,000 | -35.8% | 0.1% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $1,465,000 | $305,000 | -79.2% | 0.1% |
| S1L, Inc. | $305,000 | n/a | 0.1% | |
| Dollar Bank, Federal Savings Bank | $545,000 | $285,000 | -47.7% | 0.1% |
| NEXERA HOLDING LLC | $275,000 | n/a | 0.1% | |
| UNITED | $275,000 | n/a | 0.1% | |
| BAYER HERITAGE | $185,000 | $270,000 | 45.9% | 0.1% |
| LOANPAL, LLC | $475,000 | $265,000 | -44.2% | 0.1% |
| 1ST SIGNATURE LENDING, LLC | $95,000 | $255,000 | 168.4% | 0.1% |
| Axos Bank | $255,000 | n/a | 0.1% | |
| NATIONS RELIABLE LENDING, LLC | $365,000 | $255,000 | -30.1% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $610,000 | $250,000 | -59.0% | 0.1% |
| Magnolia Bank | $360,000 | $245,000 | -31.9% | 0.1% |
| Quontic Bank | $245,000 | n/a | 0.1% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $245,000 | n/a | 0.1% | |
| First National Bank of Pennsylvania | $1,070,000 | $225,000 | -79.0% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $390,000 | $225,000 | -42.3% | 0.1% |
| Bank of England | $290,000 | $215,000 | -25.9% | 0.1% |
| Figure Lending LLC | $235,000 | $205,000 | -12.8% | 0.1% |
| HOMESTEAD FUNDING CORP. | $205,000 | n/a | 0.1% | |
| EVERETT FINANCIAL, INC. | $195,000 | n/a | 0.1% | |
| Independent Bank | $1,555,000 | $195,000 | -87.5% | 0.1% |
| MYCUMORTGAGE, LLC | $125,000 | $195,000 | 56.0% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $370,000 | $195,000 | -47.3% | 0.1% |
| Princeton Mortgage Corporation | $195,000 | n/a | 0.1% | |
| THRIVE MORTGAGE, LLC | $195,000 | n/a | 0.1% | |
| AMERICAN ADVISORS GROUP | $340,000 | $185,000 | -45.6% | 0.1% |
| EUSTIS AND AMERICAN MORTGAGE COMPANY | $185,000 | n/a | 0.1% | |
| KELLER MORTGAGE, LLC | $535,000 | $175,000 | -67.3% | 0.1% |
| Mercantile Bank of Michigan | $175,000 | n/a | 0.1% | |
| GVC MORTGAGE, INC. | $165,000 | n/a | 0.1% | |
| LAND HOME FINANCIAL SERVICES, INC. | $410,000 | $165,000 | -59.8% | 0.1% |
| MICHIGAN MUTUAL, INC. | $165,000 | n/a | 0.1% | |
| North American Savings Bank, F.S.B. | $255,000 | $165,000 | -35.3% | 0.1% |
| SPRING EQ, LLC | $120,000 | $165,000 | 37.5% | 0.1% |
| TOP FLITE FINANCIAL, INC. | $165,000 | n/a | 0.1% | |
| The Middlefield Banking Company | $95,000 | $160,000 | 68.4% | 0.1% |
| Ally Bank | $195,000 | $155,000 | -20.5% | 0.0% |
| FINANCE OF AMERICA MORTGAGE LLC | $600,000 | $145,000 | -75.8% | 0.0% |
| HAMILTON HOME LOANS, INC. | $145,000 | n/a | 0.0% | |
| Neighborhood Loans, Inc. | $145,000 | n/a | 0.0% | |
| LENDINGHOME FUNDING CORPORATION | $140,000 | n/a | 0.0% | |
| American Midwest Mortgage Corporation | $135,000 | n/a | 0.0% | |
| BRIDGE | $135,000 | n/a | 0.0% | |
| DEVELOPER'S MORTGAGE COMPANY | $135,000 | n/a | 0.0% | |
| PHH Mortgage Corporation | $370,000 | $135,000 | -63.5% | 0.0% |
| CIVIC FINANCIAL SERVICES, LLC | $125,000 | n/a | 0.0% | |
| Gateway First Bank | $720,000 | $125,000 | -82.6% | 0.0% |
| LONGBRIDGE FINANCIAL, LLC | $125,000 | n/a | 0.0% | |
| NATIONS DIRECT MORTGAGE, LLC | $565,000 | $125,000 | -77.9% | 0.0% |
| SIWELL, INC. | $125,000 | n/a | 0.0% | |
| First National Bank of Bellevue | $425,000 | $115,000 | -72.9% | 0.0% |
| LIBERTY HOME MORTGAGE CORPORATION | $360,000 | $115,000 | -68.1% | 0.0% |
| The Citizens National Bank of Bluffton | $115,000 | n/a | 0.0% | |
| Assurance Financial Group, L.L.C. | $105,000 | n/a | 0.0% | |
| CINFED Federal Credit Union | $105,000 | n/a | 0.0% | |
| Citadel Servicing Corporation | $105,000 | n/a | 0.0% | |
| ENDEAVOR CAPITAL, LLC. | $225,000 | $105,000 | -53.3% | 0.0% |
| First Guaranty Mortgage Corporation | $2,175,000 | $105,000 | -95.2% | 0.0% |
| SOUTHWEST STAGE FUNDING, LLC | $105,000 | n/a | 0.0% | |
| United Fidelity Funding Corp. | $105,000 | n/a | 0.0% | |
| Truist | $85,000 | n/a | 0.0% | |
| Cincinnati Federal | $55,000 | n/a | 0.0% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $195,000 | $55,000 | -71.8% | 0.0% |
| 21ST MORTGAGE CORPORATION | $65,000 | $35,000 | -46.2% | 0.0% |
| CME Federal Credit Union | $890,000 | $25,000 | -97.2% | 0.0% |
Mount Vernon's top lender by overall market share is The Park National Bank, with 15.5% market share. In second place, with 7.5%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $23,635,000 in loans. In third place, with 5.8%, is The Huntington National Bank, having originated $18,420,000 in loans. In fourth place, with 5.7%, is QUICKEN LOANS, LLC, having originated $18,035,000 in loans. In fifth place, with 4.3%, is UNION HOME MORTGAGE CORP., having originated $13,620,000 in loans.
Mount Vernon, OH Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 813 | $184,125,000 | $226,476 |
| Cash Out Refi | 362 | $60,750,000 | $167,818 |
| Refi | 230 | $38,070,000 | $165,522 |
| Home Improvement | 176 | $17,970,000 | $102,102 |
| Other | 169 | $14,905,000 | $88,195 |
Mount Vernon's most frequently cited loan purpose was Home Purchase, with 813 originations. The 2nd most popular reason was Cash Out Refi, with 362 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 433 | $79,765,000 | $184,215 |
| 4-5% | 387 | $75,295,000 | $194,561 |
| 3-4% | 371 | $69,225,000 | $186,590 |
| 6-7% | 247 | $41,485,000 | $167,955 |
| 2.5-3% | 89 | $17,405,000 | $195,562 |
| 7-8% | 81 | $12,755,000 | $157,469 |
| Over 8% | 42 | $4,060,000 | $96,667 |
| <2.5% | 34 | $7,500,000 | $220,588 |
During 2022, Mount Vernon's most frequently originated rate bucket was 5-6%, with 433 originations.
Loan Sizing (Mount Vernon, OH MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 674 | $99,210,000 | $147,196 |
| $100,000 or less | 507 | $29,345,000 | $57,880 |
| $200k-400k | 467 | $127,055,000 | $272,066 |
| $400k-600k | 76 | $35,980,000 | $473,421 |
| $600k-1000k | 20 | $14,690,000 | $734,500 |
| $Over $1MM | 6 | $9,540,000 | $1,590,000 |
Mount Vernon's loan sizing saw the bucket of loans from $100k-200k with 674 originations, totaling $99,210,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 613 | $138,365,000 | $225,718 |
| 60-80% | 453 | $101,185,000 | $223,366 |
| Under 20% | 220 | $10,380,000 | $47,182 |
| 20-40% | 190 | $18,410,000 | $96,895 |
| 40-60% | 182 | $32,660,000 | $179,451 |
| Over 100% | 16 | $4,120,000 | $257,500 |
Mount Vernon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 613 originations, totaling $138,365,000 in origination value.