Vernon Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Vernon averaged
6.22%
for the week of 2024-10-03, compared to the national average of
6.12% for the same period.
The average rate for the prior week (2024-09-26) was
6.08% and
one month ago for the week of 2024-08-29, the
average rate was 6.15%.
Vernon's average rate one year ago was 7.31%.
For refis of the same type during the week of 2024-10-03, the average rate
was 6.72%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-03 | 6.12% |
Vernon 30 Year Fixed Rate | 2024-10-03 | 6.22% |
Vernon 30 Year Fixed Rate Refi | 2024-10-03 | 6.72% |
Vernon 15 Year Fixed Rate | 2024-10-03 | 5.15% |
Vernon 15 Year Fixed Rate Refi | 2024-10-03 | 5.35% |
Vernon 30 Year FHA | 2024-10-03 | 5.89% |
Vernon 30 Year FHA Refi | 2024-10-03 | 5.89% |
Vernon 30 Year USDA | 2024-10-03 | 6.17% |
Vernon 30 Year USDA Refi | 2024-10-03 | 6.17% |
Vernon 30 Year VA | 2024-10-03 | 5.5% |
Vernon 30 Year VA Refi | 2024-10-03 | 5.7% |
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 Vernon, TX 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 |
---|---|---|---|
American National Bank & Trust | 9 | 6.78% | $3,808 |
Network Funding, L.P. | 8 | 6.45% | $7,628 |
QUICKEN LOANS, LLC | 4 | 6.97% | $7,215 |
ZILLOW HOME LOANS, LLC | 2 | 6.81% | $5,442 |
LOANDEPOT.COM, LLC | 2 | 7.18% | $3,879 |
UNION SQUARE | 2 | 6.94% | $4,380 |
Gateway First Bank | 1 | 7.50% | $13,443 |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 7.25% | $6,596 |
ROYAL UNITED MORTGAGE LLC | 1 | 8.13% | $7,027 |
SIRVA MORTGAGE, INC. | 1 | 6.38% | $2,364 |
TEXOMA COMMUNITY CREDIT UNION | 1 | 9.75% | $2,180 |
21ST MORTGAGE CORPORATION | 1 | 6.35% | $6,907 |
Wells Fargo Bank | 1 | 7.00% | $4,665 |
NAVY FEDERAL CREDIT UNION | 1 | 8.75% | $2,585 |
Vernon Average Closing Costs & Other Stats
Vernon, TX's 14 lenders originated 140
loans during 2023. The total origination value was $18,030,000, with an average loan value of
$128,786.
Vernon's average closing costs are $5,208.
The top Vernon lender as defined by loan originations is American National Bank & Trust, with
9 loans originated. Their average total fees are
$3,808, which is $3,819
lower than the next largest lender,
Network Funding, L.P..
The lowest fee Vernon lenders (with over 10 loans originated) are
.
The lowest rate Vernon lenders (with over 10 loans originated) are
.
Vernon, TX 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 |
---|---|---|---|---|
Network Funding, L.P. | $4,265,000 | $3,975,000 | -6.8% | 22.0% |
Waggoner National Bank | $3,400,000 | n/a | 18.9% | |
American National Bank & Trust | $2,055,000 | $2,070,000 | 0.7% | 11.5% |
Mortgage Research Center, LLC | $750,000 | $1,045,000 | 39.3% | 5.8% |
QUICKEN LOANS, LLC | $545,000 | $900,000 | 65.1% | 5.0% |
TEXOMA COMMUNITY CREDIT UNION | $705,000 | $580,000 | -17.7% | 3.2% |
Herring Bank | $1,440,000 | $565,000 | -60.8% | 3.1% |
FLAT BRANCH MORTGAGE, INC. | $180,000 | $530,000 | 194.4% | 2.9% |
UNION SQUARE | $995,000 | $510,000 | -48.7% | 2.8% |
21ST MORTGAGE CORPORATION | $95,000 | $495,000 | 421.1% | 2.7% |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $435,000 | n/a | 2.4% | |
Gateway First Bank | $130,000 | $385,000 | 196.2% | 2.1% |
GSB MORTGAGE, INC. | $55,000 | $300,000 | 445.5% | 1.7% |
ZILLOW HOME LOANS, LLC | $240,000 | n/a | 1.3% | |
LOANDEPOT.COM, LLC | $155,000 | $230,000 | 48.4% | 1.3% |
NAVY FEDERAL CREDIT UNION | $35,000 | $205,000 | 485.7% | 1.1% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $180,000 | n/a | 1.0% | |
ROYAL UNITED MORTGAGE LLC | $45,000 | $180,000 | 300.0% | 1.0% |
Bank of America | $115,000 | $155,000 | 34.8% | 0.9% |
Flagstar Bank, FSB | $75,000 | $155,000 | 106.7% | 0.9% |
GUILD MORTGAGE COMPANY | $225,000 | $155,000 | -31.1% | 0.9% |
NFM, INC. | $155,000 | n/a | 0.9% | |
RANDOLPH-BROOKS | $145,000 | n/a | 0.8% | |
LENDINGHOME FUNDING CORPORATION | $135,000 | n/a | 0.7% | |
CMG MORTGAGE, INC. | $130,000 | n/a | 0.7% | |
First United Bank | $125,000 | n/a | 0.7% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $490,000 | $115,000 | -76.5% | 0.6% |
SIRVA MORTGAGE, INC. | $85,000 | n/a | 0.5% | |
SWBC MORTGAGE CORPORATION | $85,000 | n/a | 0.5% | |
LOANPAL, LLC | $75,000 | n/a | 0.4% | |
PENNYMAC LOAN SERVICES, LLC | $75,000 | n/a | 0.4% | |
Wells Fargo Bank | $270,000 | $65,000 | -75.9% | 0.4% |
JPMorgan Chase Bank | $1,240,000 | $25,000 | -98.0% | 0.1% |
Vernon's top lender by overall market share is Network Funding, L.P., with 22.0% market share. In second place, with 18.9%, is Waggoner National Bank, having originated $3,400,000 in loans. In third place, with 11.5%, is American National Bank & Trust, having originated $2,070,000 in loans. In fourth place, with 5.8%, is Mortgage Research Center, LLC, having originated $1,045,000 in loans. In fifth place, with 5.0%, is QUICKEN LOANS, LLC, having originated $900,000 in loans.
Vernon Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Vernon (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $101,750 (27.4%) | $116,633 (13.0%) | 0.00 | 12 |
2018-02-01 | $109,900 (37.6%) | $143,399 (36.1%) | 0.00 | 9 |
2018-03-01 | $169,500 (38.9%) | $173,125 (34.2%) | 0.00 | 10 |
2018-04-01 | $162,300 (20.3%) | $166,189 (-14.4%) | 0.00 | 18 |
2018-05-01 | $142,350 (-50.7%) | $141,125 (-51.1%) | 0.00 | 28 |
2018-06-01 | $133,450 (-47.7%) | $135,471 (-46.9%) | 0.00 | 25 |
2018-07-01 | $109,000 (-39.3%) | $126,186 (-39.1%) | 0.00 | 27 |
2018-08-01 | $82,000 (-24.4%) | $113,581 (-28.0%) | 0.00 | 24 |
2018-09-01 | $99,000 (-16.8%) | $132,152 (-20.1%) | 0.00 | 24 |
2018-10-01 | $120,975 (11.5%) | $133,067 (-13.2%) | 0.00 | 30 |
2018-11-01 | $107,475 (8.0%) | $126,396 (4.2%) | 0.00 | 33 |
2018-12-01 | $117,500 (8.3%) | $127,557 (1.0%) | 0.00 | 36 |
2019-01-01 | $125,750 (23.6%) | $129,306 (10.9%) | 0.00 | 32 |
2019-02-01 | $130,375 (18.6%) | $134,721 (-6.1%) | 0.00 | 26 |
2019-03-01 | $120,000 (-29.2%) | $129,487 (-25.2%) | 0.00 | 25 |
2019-04-01 | $120,000 (-26.1%) | $129,809 (-21.9%) | 0.00 | 21 |
2019-05-01 | $141,850 (-0.4%) | $159,166 (12.8%) | 0.00 | 16 |
2019-06-01 | $134,700 (0.9%) | $152,252 (12.4%) | 0.00 | 18 |
2019-07-01 | $132,450 (21.5%) | $149,370 (18.4%) | 0.00 | 20 |
2019-08-01 | $126,964 (54.8%) | $143,511 (26.4%) | 0.00 | 19 |
2019-09-01 | $122,484 (23.7%) | $142,069 (7.5%) | 0.00 | 19 |
2019-10-01 | $118,625 (-1.9%) | $137,209 (3.1%) | 0.00 | 18 |
2019-11-01 | $116,700 (8.6%) | $122,720 (-2.9%) | 0.00 | 15 |
2019-12-01 | $116,300 (-1.0%) | $121,996 (-4.4%) | 0.00 | 13 |
2020-01-01 | $86,225 (-31.4%) | $112,400 (-13.1%) | 0.00 | 19 |
2020-02-01 | $87,000 (-33.3%) | $112,104 (-16.8%) | 0.00 | 24 |
2020-03-01 | $87,000 (-27.5%) | $111,383 (-14.0%) | 0.00 | 26 |
2020-04-01 | $83,000 (-30.8%) | $112,760 (-13.1%) | 0.00 | 25 |
2020-05-01 | $80,900 (-43.0%) | $107,992 (-32.2%) | 0.00 | 20 |
2020-06-01 | $88,250 (-34.5%) | $108,054 (-29.0%) | 0.00 | 15 |
2020-07-01 | $95,750 (-27.7%) | $116,113 (-22.3%) | 0.00 | 14 |
2020-08-01 | $98,750 (-22.2%) | $123,087 (-14.2%) | 0.00 | 15 |
2020-09-01 | $93,500 (-23.7%) | $118,208 (-16.8%) | 0.00 | 13 |
2020-10-01 | $95,000 (-19.9%) | $135,146 (-1.5%) | 0.00 | 12 |
2020-11-01 | $84,475 (-27.6%) | $138,733 (13.1%) | 0.00 | 10 |
2020-12-01 | $89,875 (-22.7%) | $137,038 (12.3%) | 0.00 | 9 |
2021-01-01 | $74,500 (-13.6%) | $119,880 (6.7%) | 0.00 | 7 |
2021-02-01 | $129,375 (48.7%) | $154,915 (38.2%) | 0.00 | 4 |
2021-03-01 | $113,125 (30.0%) | $121,600 (9.2%) | 0.00 | 6 |
2021-04-01 | $105,000 (26.5%) | $108,140 (-4.1%) | 0.00 | 9 |
2021-05-01 | $98,000 (21.1%) | $96,780 (-10.4%) | 0.00 | 6 |
2021-06-01 | $89,000 (0.9%) | $103,047 (-4.6%) | 0.00 | 10 |
2021-07-01 | $82,000 (-14.4%) | $110,981 (-4.4%) | 0.00 | 13 |
2021-08-01 | $83,500 (-15.4%) | $115,732 (-6.0%) | 0.00 | 17 |
2021-09-01 | $79,000 (-15.5%) | $102,383 (-13.4%) | 0.00 | 16 |
2021-10-01 | $79,000 (-16.8%) | $98,300 (-27.3%) | 0.00 | 15 |
2021-11-01 | $85,625 (1.4%) | $129,089 (-7.0%) | 0.00 | 16 |
2021-12-01 | $85,000 (-5.4%) | $106,065 (-22.6%) | 0.00 | 16 |
2022-01-01 | $86,250 (15.8%) | $128,900 (7.5%) | 0.00 | 14 |
2022-02-01 | $137,450 (6.2%) | $129,387 (-16.5%) | 0.00 | 13 |
2022-03-01 | $116,500 (3.0%) | $121,808 (0.2%) | 0.00 | 13 |
2022-04-01 | $133,950 (27.6%) | $159,883 (47.9%) | 0.00 | 17 |
2022-05-01 | $153,750 (56.9%) | $193,943 (100.4%) | 0.00 | 14 |
2022-06-01 | $145,000 (62.9%) | $184,745 (79.3%) | 0.00 | 15 |
2022-07-01 | $161,250 (96.7%) | $206,193 (85.8%) | 0.00 | 18 |
2022-08-01 | $179,450 (114.9%) | $205,939 (77.9%) | 0.00 | 22 |
2022-09-01 | $177,500 (124.7%) | $206,522 (101.7%) | 0.00 | 25 |
2022-10-01 | $127,000 (60.8%) | $156,913 (59.6%) | 0.00 | 29 |
2022-11-01 | $100,737 (17.7%) | $138,433 (7.2%) | 0.00 | 32 |
2022-12-01 | $99,316 (16.8%) | $157,300 (48.3%) | 0.00 | 28 |
2023-01-01 | $96,908 (12.4%) | $141,329 (9.6%) | 0.00 | 27 |
2023-02-01 | $85,750 (-37.6%) | $146,588 (13.3%) | 0.00 | 21 |
2023-03-01 | $82,000 (-29.6%) | $156,969 (28.9%) | 0.00 | 18 |
2023-04-01 | $109,250 (-18.4%) | $161,494 (1.0%) | 0.00 | 19 |
2023-05-01 | $120,625 (-21.5%) | $161,259 (-16.9%) | 0.00 | 25 |
2023-06-01 | $97,475 (-32.8%) | $126,010 (-31.8%) | 0.00 | 32 |
2023-07-01 | $105,000 (-34.9%) | $137,880 (-33.1%) | 0.00 | 40 |
2023-08-01 | $105,000 (-41.5%) | $144,212 (-30.0%) | 0.00 | 42 |
2023-09-01 | $107,500 (-39.4%) | $145,785 (-29.4%) | 0.00 | 42 |
2023-10-01 | $135,975 (7.1%) | $168,236 (7.2%) | 0.00 | 42 |
2023-11-01 | $136,000 (35.0%) | $174,730 (26.2%) | 0.00 | 35 |
2023-12-01 | $140,000 (41.0%) | $184,128 (17.1%) | 0.00 | 31 |
2024-01-01 | $137,975 (42.4%) | $178,408 (26.2%) | 0.00 | 29 |
2024-02-01 | $128,500 (49.9%) | $169,227 (15.4%) | 0.00 | 26 |
2024-03-01 | $138,500 (68.9%) | $167,013 (6.4%) | 0.00 | 29 |
2024-04-01 | $155,000 (41.9%) | $183,631 (13.7%) | 0.00 | 29 |
2024-05-01 | $166,125 (37.7%) | $192,781 (19.6%) | 0.00 | 23 |
2024-06-01 | $162,250 (66.5%) | $197,243 (56.5%) | 0.00 | 21 |
2024-07-01 | $167,450 (59.5%) | $200,511 (45.4%) | 0.00 | 31 |
2024-08-01 | $169,900 (61.8%) | $198,296 (37.5%) | 0.00 | 27 |
2024-09-01 | $169,250 (57.4%) | $193,925 (33.0%) | 0.00 | 26 |
Vernon's median listing price comes in at 0% of the national average.
Vernon's average listing price for 2024-09-01 was $193,925, a difference of $48,140 (33.0%) versus the prior year and $-4,371 versus the prior month.
For the 2024-09-01 period, Vernon had 26 MLS listings, a difference of -1 listings (-4%) versus the prior month and -16 listings (-38%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Vernon (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,038 sqft |
2018-02-01 | 0 days | 1,994 sqft |
2018-03-01 | 0 days | 2,162 sqft |
2018-04-01 | 0 days | 2,325 sqft |
2018-05-01 | 0 days | 2,229 sqft |
2018-06-01 | 0 days | 2,222 sqft |
2018-07-01 | 0 days | 2,076 sqft |
2018-08-01 | 0 days | 1,964 sqft |
2018-09-01 | 0 days | 1,772 sqft |
2018-10-01 | 0 days | 1,789 sqft |
2018-11-01 | 0 days | 1,778 sqft |
2018-12-01 | 0 days | 1,775 sqft |
2019-01-01 | 0 days | 1,850 sqft |
2019-02-01 | 0 days | 1,929 sqft |
2019-03-01 | 0 days | 1,890 sqft |
2019-04-01 | 0 days | 1,865 sqft |
2019-05-01 | 0 days | 2,044 sqft |
2019-06-01 | 0 days | 2,160 sqft |
2019-07-01 | 0 days | 2,134 sqft |
2019-08-01 | 0 days | 2,107 sqft |
2019-09-01 | 0 days | 2,028 sqft |
2019-10-01 | 0 days | 1,976 sqft |
2019-11-01 | 0 days | 1,986 sqft |
2019-12-01 | 0 days | 1,995 sqft |
2020-01-01 | 0 days | 1,953 sqft |
2020-02-01 | 0 days | 1,909 sqft |
2020-03-01 | 0 days | 1,924 sqft |
2020-04-01 | 0 days | 1,967 sqft |
2020-05-01 | 0 days | 2,004 sqft |
2020-06-01 | 0 days | 1,931 sqft |
2020-07-01 | 0 days | 1,978 sqft |
2020-08-01 | 0 days | 1,863 sqft |
2020-09-01 | 0 days | 1,901 sqft |
2020-10-01 | 0 days | 2,046 sqft |
2020-11-01 | 0 days | 2,062 sqft |
2020-12-01 | 0 days | 2,016 sqft |
2021-01-01 | 0 days | 2,139 sqft |
2021-02-01 | 0 days | 2,416 sqft |
2021-03-01 | 0 days | 2,197 sqft |
2021-04-01 | 0 days | 1,792 sqft |
2021-05-01 | 0 days | 1,520 sqft |
2021-06-01 | 0 days | 1,502 sqft |
2021-07-01 | 0 days | 1,379 sqft |
2021-08-01 | 0 days | 1,552 sqft |
2021-09-01 | 0 days | 1,293 sqft |
2021-10-01 | 0 days | 1,237 sqft |
2021-11-01 | 0 days | 1,565 sqft |
2021-12-01 | 0 days | 1,288 sqft |
2022-01-01 | 0 days | 1,360 sqft |
2022-02-01 | 0 days | 1,731 sqft |
2022-03-01 | 0 days | 1,704 sqft |
2022-04-01 | 0 days | 1,728 sqft |
2022-05-01 | 0 days | 2,181 sqft |
2022-06-01 | 0 days | 2,108 sqft |
2022-07-01 | 0 days | 2,371 sqft |
2022-08-01 | 0 days | 2,640 sqft |
2022-09-01 | 0 days | 2,246 sqft |
2022-10-01 | 0 days | 1,711 sqft |
2022-11-01 | 0 days | 1,653 sqft |
2022-12-01 | 0 days | 1,583 sqft |
2023-01-01 | 0 days | 1,416 sqft |
2023-02-01 | 0 days | 1,421 sqft |
2023-03-01 | 0 days | 1,408 sqft |
2023-04-01 | 0 days | 1,456 sqft |
2023-05-01 | 0 days | 1,564 sqft |
2023-06-01 | 0 days | 1,464 sqft |
2023-07-01 | 0 days | 1,460 sqft |
2023-08-01 | 0 days | 1,525 sqft |
2023-09-01 | 0 days | 1,605 sqft |
2023-10-01 | 0 days | 1,666 sqft |
2023-11-01 | 0 days | 1,700 sqft |
2023-12-01 | 0 days | 1,723 sqft |
2024-01-01 | 0 days | 1,771 sqft |
2024-02-01 | 0 days | 1,614 sqft |
2024-03-01 | 0 days | 1,452 sqft |
2024-04-01 | 0 days | 1,728 sqft |
2024-05-01 | 0 days | 1,842 sqft |
2024-06-01 | 0 days | 1,650 sqft |
2024-07-01 | 0 days | 1,558 sqft |
2024-08-01 | 0 days | 1,596 sqft |
2024-09-01 | 0 days | 1,627 sqft |
Vernon's median square footage for active listings during the 2024-09-01 period was 1,627 sqft. One year prior, the average listing was 1,605 sqft.
Vernon, TX Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 104 | $14,990,000 | $144,135 |
Cash Out Refi | 14 | $1,730,000 | $123,571 |
Other | 10 | $410,000 | $41,000 |
Home Improvement | 8 | $230,000 | $28,750 |
Refi | 4 | $670,000 | $167,500 |
Vernon's most frequently cited loan purpose was Home Purchase, with 104 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 44 | $7,100,000 | $161,364 |
7-8% | 24 | $3,740,000 | $155,833 |
Over 8% | 12 | $1,310,000 | $109,167 |
5-6% | 10 | $1,460,000 | $146,000 |
<2.5% | 1 | $5,000 | $5,000 |
4-5% | 1 | $145,000 | $145,000 |
During 2023, Vernon's most frequently originated rate bucket was 6-7%, with 44 originations.
Loan Sizing (Vernon, TX MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 66 | $3,550,000 | $53,788 |
$100k-200k | 53 | $7,515,000 | $141,792 |
$200k-400k | 18 | $5,490,000 | $305,000 |
$400k-600k | 2 | $850,000 | $425,000 |
$600k-1000k | 1 | $625,000 | $625,000 |
Vernon's loan sizing saw the bucket of loans from $100,000 or less with 66 originations, totaling $3,550,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 62 | $10,090,000 | $162,742 |
60-80% | 17 | $2,275,000 | $133,824 |
40-60% | 5 | $505,000 | $101,000 |
20-40% | 3 | $155,000 | $51,667 |
Under 20% | 3 | $95,000 | $31,667 |
Over 100% | 2 | $620,000 | $310,000 |
Vernon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 62 originations, totaling $10,090,000 in origination value.