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 Vernon averaged 6.76% for the week of 2025-05-22, compared to the national average of 6.86% for the same period.

    The average rate for the prior week (2025-05-15) was 6.61% and one month ago for the week of 2025-04-17, the average rate was 7.03%.

    Vernon's average rate one year ago was 7.02%.

    For refis of the same type during the week of 2025-05-22, the average rate was 7.36%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-05-22 6.86%
    Vernon 30 Year Fixed Rate 2025-05-22 6.76%
    Vernon 30 Year Fixed Rate Refi 2025-05-22 7.36%
    Vernon 15 Year Fixed Rate 2025-05-22 6.11%
    Vernon 15 Year Fixed Rate Refi 2025-05-22 6.41%
    Vernon 30 Year FHA 2025-05-22 6.51%
    Vernon 30 Year FHA Refi 2025-05-22 6.81%
    Vernon 30 Year USDA 2025-05-22 6.53%
    Vernon 30 Year USDA Refi 2025-05-22 6.23%
    Vernon 30 Year VA 2025-05-22 6.52%
    Vernon 30 Year VA Refi 2025-05-22 6.32%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Vernon, TX.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    American National Bank & Trust 14 6.80% $4,078
    QUICKEN LOANS, LLC 8 7.64% $4,771
    UNION SQUARE 4 6.84% $4,223
    LOANDEPOT.COM, LLC 2 6.68% $5,974
    ROYAL UNITED MORTGAGE LLC 2 7.13% $6,322
    FLAT BRANCH MORTGAGE, INC. 2 6.06% $3,081
    First Bank 2 6.88% $5,851
    JPMorgan Chase Bank 1 5.88% $3,160
    PENTAGON FEDERAL CREDIT UNION 1 7.63% $5,356
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.38% $5,370
    TEXOMA COMMUNITY CREDIT UNION 1 10.00% $3,407
    Wells Fargo Bank 1 6.38% $11,719
    CARDINAL FINANCIAL 1 6.99% $7,520
    Carrington Mortgage Services, LLC 1 7.25% $5,568
    CMG MORTGAGE, INC. 1 8.38% $6,058
    Discover Bank 1 9.06% $0
    First United Bank 1 6.13% $6,817
    GUILD MORTGAGE COMPANY 1 7.88% $5,484

    Vernon Average Closing Costs & Other Stats

    Vernon, TX's 18 lenders originated 149 loans during 2024. The total origination value was $22,355,000, with an average loan value of $150,034.

    Vernon's average closing costs are $5,359.

    The top Vernon lender as defined by loan originations is American National Bank & Trust, with 14 loans originated. Their average total fees are $4,078, which is $693 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Vernon lenders (with over 10 loans originated) are American National Bank & Trust ($4,078), .

    The lowest rate Vernon lenders (with over 10 loans originated) are American National Bank & Trust (6.80%), .

    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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    American National Bank & Trust $2,070,000 $5,665,000 173.7% 25.3%
    Waggoner National Bank $3,400,000 $4,030,000 18.5% 18.0%
    Network Funding, L.P. $3,975,000 $1,605,000 -59.6% 7.2%
    QUICKEN LOANS, LLC $900,000 $1,390,000 54.4% 6.2%
    Mortgage Research Center, LLC $1,045,000 $955,000 -8.6% 4.3%
    21ST MORTGAGE CORPORATION $495,000 $655,000 32.3% 2.9%
    Herring Bank $565,000 $625,000 10.6% 2.8%
    CARDINAL FINANCIAL $600,000 n/a 2.7%
    GUILD MORTGAGE COMPANY $155,000 $440,000 183.9% 2.0%
    LOANDEPOT.COM, LLC $230,000 $435,000 89.1% 1.9%
    FLAT BRANCH MORTGAGE, INC. $530,000 $390,000 -26.4% 1.7%
    UNION SQUARE $510,000 $390,000 -23.5% 1.7%
    CROSSCOUNTRY MORTGAGE, LLC $375,000 n/a 1.7%
    Mr. Cooper ( Nationstar Mortgage ) $375,000 n/a 1.7%
    TEXOMA COMMUNITY CREDIT UNION $580,000 $370,000 -36.2% 1.7%
    Prosperity Bank $365,000 n/a 1.6%
    Wells Fargo Bank $65,000 $320,000 392.3% 1.4%
    First United Bank $125,000 $305,000 144.0% 1.4%
    SIRVA MORTGAGE, INC. $85,000 $295,000 247.1% 1.3%
    First Bank $280,000 n/a 1.3%
    JPMorgan Chase Bank $25,000 $280,000 1,020.0% 1.3%
    PLAZA HOME MORTGAGE, INC. $205,000 n/a 0.9%
    SWBC MORTGAGE CORPORATION $85,000 $185,000 117.6% 0.8%
    NATIONS RELIABLE LENDING, LLC $165,000 n/a 0.7%
    ROYAL UNITED MORTGAGE LLC $180,000 $160,000 -11.1% 0.7%
    FREEDOM MORTGAGE CORPORATION $155,000 n/a 0.7%
    COUNTRYPLACE MORTGAGE, LTD. $135,000 n/a 0.6%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $180,000 $125,000 -30.6% 0.6%
    PENTAGON FEDERAL CREDIT UNION $105,000 n/a 0.5%
    The American National Bank of Texas $105,000 n/a 0.5%
    Carrington Mortgage Services, LLC $95,000 n/a 0.4%
    HOMESIDE FINANCIAL, LLC $85,000 n/a 0.4%
    CMG MORTGAGE, INC. $130,000 $80,000 -38.5% 0.4%
    Discover Bank $65,000 n/a 0.3%
    City Bank $35,000 n/a 0.2%

    Vernon's top lender by overall market share is American National Bank & Trust, with 25.3% market share. In second place, with 18.0%, is Waggoner National Bank, having originated $4,030,000 in loans. In third place, with 7.2%, is Network Funding, L.P., having originated $1,605,000 in loans. In fourth place, with 6.2%, is QUICKEN LOANS, LLC, having originated $1,390,000 in loans. In fifth place, with 4.3%, is Mortgage Research Center, LLC, having originated $955,000 in loans.

    Vernon Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - 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 $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 $167,250 (38.7%) $193,757 (20.2%) 0.00 23
    2024-06-01 $162,250 (66.5%) $196,290 (55.8%) 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
    2024-10-01 $166,000 (22.1%) $175,417 (4.3%) 0.00 26
    2024-11-01 $144,250 (6.1%) $161,283 (-7.7%) 0.00 31
    2024-12-01 $135,500 (-3.2%) $157,144 (-14.7%) 0.00 30
    2025-01-01 $122,500 (-11.2%) $153,194 (-14.1%) 0.00 27
    2025-02-01 $164,125 (27.7%) $180,637 (6.7%) 0.00 36
    2025-03-01 $180,000 (30.0%) $226,766 (35.8%) 0.00 36
    2025-04-01 $184,850 (19.3%) $244,047 (32.9%) 0.00 35
    Vernon's median listing price for 2025-04-01 was $184,850, a difference of $29,850 (19.3%) versus the prior year and $4,850 versus the prior month.

    Vernon's median listing price comes in at 0% of the national average.

    Vernon's average listing price for 2025-04-01 was $244,047, a difference of $60,416 (32.9%) versus the prior year and $17,281 versus the prior month.

    For the 2025-04-01 period, Vernon had 35 MLS listings, a difference of -1 listings (-3%) versus the prior month and 6 listings (21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - 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 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 1,740 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
    2024-10-01 0 days 1,521 sqft
    2024-11-01 0 days 1,470 sqft
    2024-12-01 0 days 1,537 sqft
    2025-01-01 0 days 1,497 sqft
    2025-02-01 0 days 1,571 sqft
    2025-03-01 0 days 1,683 sqft
    2025-04-01 0 days 1,819 sqft
    Vernon's median listing age (time on market) for 2025-04-01 was 0 days.

    Vernon's median square footage for active listings during the 2025-04-01 period was 1,819 sqft. One year prior, the average listing was 1,728 sqft.

    Vernon, TX Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 89 $16,335,000 $183,539
    Home Improvement 17 $665,000 $39,118
    Cash Out Refi 17 $2,335,000 $137,353
    Other 14 $1,080,000 $77,143
    Refi 12 $1,940,000 $161,667

    Vernon's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Home Improvement, with 17 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 47 $7,795,000 $165,851
    7-8% 32 $5,640,000 $176,250
    Over 8% 17 $1,895,000 $111,471
    5-6% 12 $2,280,000 $190,000

    During 2024, Vernon's most frequently originated rate bucket was 6-7%, with 47 originations.

    Loan Sizing (Vernon, TX MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 67 $3,835,000 $57,239
    $100k-200k 54 $7,920,000 $146,667
    $200k-400k 22 $6,170,000 $280,455
    $400k-600k 4 $2,040,000 $510,000
    $600k-1000k 1 $885,000 $885,000
    $Over $1MM 1 $1,505,000 $1,505,000

    Vernon's loan sizing saw the bucket of loans from $100,000 or less with 67 originations, totaling $3,835,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 64 $10,830,000 $169,219
    60-80% 27 $4,435,000 $164,259
    20-40% 6 $970,000 $161,667
    40-60% 6 $610,000 $101,667
    Under 20% 2 $40,000 $20,000
    Over 100% 1 $185,000 $185,000

    Vernon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 64 originations, totaling $10,830,000 in origination value.