Vernon Mortgage Rates

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

30 Year Fixed Rate mortgages in Vernon averaged 5.95% for the week of 2022-06-30, compared to the national average of 5.7% for the same period.

The average rate for the prior week (2022-06-23) was 5.96% and one month ago for the week of 2022-05-26, the average rate was 5.45%.

Vernon's average rate one year ago was 3.72%.

For refis of the same type during the week of 2022-06-30, the average rate was 6.07%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-30 5.7%
Vernon 30 Year Fixed Rate 2022-06-30 5.95%
Vernon 30 Year Fixed Rate Refi 2022-06-30 6.07%
Vernon 15 Year Fixed Rate 2022-06-30 4.93%
Vernon 15 Year Fixed Rate Refi 2022-06-30 5.29%
Vernon 30 Year FHA 2022-06-30 5.95%
Vernon 30 Year FHA Refi 2022-06-30 5.93%
Vernon 30 Year USDA 2022-06-30 5.67%
Vernon 30 Year VA 2022-06-30 5.71%
Vernon 30 Year VA Refi 2022-06-30 5.89%
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 lendor, 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Network Funding, L.P. 5 3.35% $4,402
TEXOMA COMMUNITY CREDIT UNION 4 5.19% $3,228
American National Bank & Trust 3 2.88% $3,373
Wells Fargo Bank 2 3.81% $4,805
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.25% $4,794
SENTE MORTGAGE, INC. 2 4.00% $4,371
First National Bank 1 2.88% $3,002
Flagstar Bank, FSB 1 2.93% $4,794
GUILD MORTGAGE COMPANY 1 3.99% $3,891
INFINITY MORTGAGE HOLDINGS, LLC 1 3.38% $4,838
JPMorgan Chase Bank 1 3.25% $5,471
LONE STAR 1 2.75% $5,206
NAVY FEDERAL CREDIT UNION 1 5.13% $5,021
City Bank 1 3.25% $5,784
QUICKEN LOANS, LLC 1 2.75% $4,395
Security First Bank 1 3.88% $1,967
BROKER SOLUTIONS, INC. 1 2.75% $4,039
TEXAS DOW EMPLOYEES CREDIT UNION 1 4.00% $4,546
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.00% $4,831
UNION SQUARE 1 2.88% $3,781
U.S. Bank 1 2.99% $3,579
EECU 1 3.25% $6,436

Vernon, TX's 22 lenders originated 145 loans during 2021. The total origination value was $18,385,000, with an average loan value of $126,793.

The top Vernon lender as defined by loan originations is Network Funding, L.P., with 5 loans originated. Their average total fees are $4,402, which is $1,174 higher than the next largest lender, TEXOMA COMMUNITY CREDIT UNION.

The lowest fee Vernon lenders (with over 10 loans originated) are .

The lowest rate Vernon lenders (with over 10 loans originated) are .

Vernon, TX Lender 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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
Network Funding, L.P. $4,635,000 $4,525,000 -2.4% 24.6%
Herring Bank $1,160,000 $2,030,000 75.0% 11.0%
FirstBank Southwest $995,000 n/a 5.4%
UNION SQUARE $580,000 $655,000 12.9% 3.6%
American National Bank & Trust $1,255,000 $630,000 -49.8% 3.4%
TEXOMA COMMUNITY CREDIT UNION $695,000 $600,000 -13.7% 3.3%
QUICKEN LOANS, LLC $1,565,000 $540,000 -65.5% 2.9%
FREEDOM MORTGAGE CORPORATION $125,000 $535,000 328.0% 2.9%
PENNYMAC LOAN SERVICES, LLC $235,000 $480,000 104.3% 2.6%
Wells Fargo Bank $280,000 $455,000 62.5% 2.5%
LAKEVIEW LOAN SERVICING, LLC $410,000 $350,000 -14.6% 1.9%
City Bank $315,000 n/a 1.7%
Mortgage Research Center, LLC $585,000 $290,000 -50.4% 1.6%
SENTE MORTGAGE, INC. $290,000 n/a 1.6%
HOMEBRIDGE FINANCIAL SERVICES, INC. $265,000 $275,000 3.8% 1.5%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $270,000 n/a 1.5%
ENVOY MORTGAGE, LTD $255,000 n/a 1.4%
Legend Bank, N.A. $180,000 $250,000 38.9% 1.4%
21ST MORTGAGE CORPORATION $80,000 $245,000 206.3% 1.3%
FirstCapital Bank of Texas $245,000 n/a 1.3%
First United Bank $245,000 n/a 1.3%
GUILD MORTGAGE COMPANY $235,000 n/a 1.3%
NAVY FEDERAL CREDIT UNION $185,000 $230,000 24.3% 1.3%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $200,000 n/a 1.1%
Flagstar Bank, FSB $195,000 n/a 1.1%
EECU $175,000 n/a 1.0%
Security First Bank $175,000 n/a 1.0%
MUTUAL OF OMAHA MORTGAGE, INC. $165,000 n/a 0.9%
U.S. Bank $160,000 n/a 0.9%
AMERICAN FINANCIAL NETWORK, INC. $175,000 $155,000 -11.4% 0.8%
BROKER SOLUTIONS, INC. $155,000 n/a 0.8%
First National Bank $120,000 $150,000 25.0% 0.8%
First Bank $190,000 $135,000 -28.9% 0.7%
Gateway First Bank $135,000 n/a 0.7%
TEXAS DOW EMPLOYEES CREDIT UNION $135,000 n/a 0.7%
NEWREZ LLC $130,000 n/a 0.7%
BM Real Estate Services, Inc. $125,000 n/a 0.7%
LONE STAR $125,000 n/a 0.7%
PLANET HOME LENDING, LLC $125,000 n/a 0.7%
First Bank & Trust $115,000 n/a 0.6%
INFINITY MORTGAGE HOLDINGS, LLC $115,000 n/a 0.6%
PRIMARY RESIDENTIAL MORTGAGE, INC. $115,000 n/a 0.6%
CREDIT HUMAN FEDERAL CREDIT UNION $105,000 n/a 0.6%
JPMorgan Chase Bank $220,000 $105,000 -52.3% 0.6%
The Jacksboro National Bank $105,000 n/a 0.6%
VILLAGE CAPITAL & INVESTMENT LLC $95,000 $95,000 0.0% 0.5%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $215,000 $85,000 -60.5% 0.5%
First Financial Bank $55,000 n/a 0.3%
GSB MORTGAGE, INC. $395,000 $55,000 -86.1% 0.3%
TRIAD FINANCIAL SERVICES, INC. $55,000 n/a 0.3%

Vernon's top lender by overall market share is Network Funding, L.P., with 24.6% market share. In second place, with 11.0%, is Herring Bank, having originated $2,030,000 in loans. In third place, with 5.4%, is FirstBank Southwest, having originated $995,000 in loans. In third place, with 3.6%, is UNION SQUARE, having originated $655,000 in loans. In third place, with 3.4%, is American National Bank & Trust, having originated $630,000 in loans.


Vernon, TX Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 85 $9,405,000 $110,647
Refi 44 $7,030,000 $159,773
Cash Out Refi 15 $1,885,000 $125,667
Home Improvement 1 $65,000 $65,000

Vernon's most frequently cited loan purpose was Home Purchase, with 85 originations. The 2nd most popular reason was Refi, with 44 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 49 $6,365,000 $129,898
3-4% 46 $5,660,000 $123,043
<2.5% 15 $1,405,000 $93,667
4-5% 6 $430,000 $71,667
5-6% 5 $515,000 $103,000
Over 8% 3 $245,000 $81,667
6-7% 1 $125,000 $125,000
7-8% 1 $15,000 $15,000

During 2021, Vernon's most frequently originated rate bucket was 2.5-3%, with 49 originations.

Loan Sizing (Vernon, TX MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 74 $9,850,000 $133,108
$100,000 or less 58 $4,140,000 $71,379
$200k-400k 11 $2,645,000 $240,455
$600k-1000k 2 $1,750,000 $875,000

Vernon's loan sizing saw the bucket of loans from $100k-200k with 74 originations, totaling $9,850,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 75 $8,965,000 $119,533
60-80% 32 $3,590,000 $112,188
40-60% 7 $715,000 $102,143
Over 100% 3 $565,000 $188,333
Under 20% 2 $70,000 $35,000
20-40% 1 $105,000 $105,000

Vernon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 75 originations, totaling $8,965,000 in origination value.


Market Conditions (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 $108,500 (35.8%) $116,633 (13.0%) 0.00 11
2018-02-01 $134,700 (41.9%) $146,331 (38.9%) 0.00 9
2018-03-01 $169,500 (16.9%) $173,125 (34.2%) 0.00 10
2018-04-01 $169,700 (25.8%) $166,189 (-14.4%) 0.00 18
2018-05-01 $137,450 (-69.5%) $137,800 (-52.2%) 0.00 29
2018-06-01 $129,900 (-67.1%) $133,650 (-47.6%) 0.00 26
2018-07-01 $109,000 (-57.9%) $124,477 (-39.9%) 0.00 28
2018-08-01 $82,000 (-24.4%) $112,034 (-26.8%) 0.00 23
2018-09-01 $99,000 (-9.6%) $132,152 (-15.2%) 0.00 24
2018-10-01 $122,200 (12.6%) $133,067 (-8.4%) 0.00 30
2018-11-01 $110,000 (10.6%) $126,396 (7.2%) 0.00 33
2018-12-01 $120,000 (10.6%) $127,601 (5.3%) 0.00 36
2019-01-01 $125,750 (15.9%) $129,383 (10.9%) 0.00 31
2019-02-01 $134,750 (0.0%) $136,455 (-6.8%) 0.00 26
2019-03-01 $134,500 (-20.7%) $133,342 (-23.0%) 0.00 26
2019-04-01 $134,500 (-20.7%) $133,896 (-19.4%) 0.00 22
2019-05-01 $145,000 (5.5%) $162,235 (17.7%) 0.00 17
2019-06-01 $134,900 (3.9%) $152,252 (13.9%) 0.00 18
2019-07-01 $132,450 (21.5%) $148,373 (19.2%) 0.00 20
2019-08-01 $124,571 (51.9%) $140,256 (25.2%) 0.00 21
2019-09-01 $122,000 (23.2%) $136,844 (3.6%) 0.00 18
2019-10-01 $119,000 (-2.6%) $136,463 (2.6%) 0.00 19
2019-11-01 $117,500 (6.8%) $121,064 (-4.2%) 0.00 16
2019-12-01 $116,700 (-2.8%) $121,996 (-4.4%) 0.00 13
2020-01-01 $89,950 (-28.5%) $112,400 (-13.1%) 0.00 18
2020-02-01 $89,000 (-34.0%) $112,648 (-17.5%) 0.00 24
2020-03-01 $87,000 (-35.3%) $111,383 (-16.5%) 0.00 25
2020-04-01 $83,000 (-38.3%) $112,760 (-15.8%) 0.00 25
2020-05-01 $87,500 (-39.7%) $109,564 (-32.5%) 0.00 20
2020-06-01 $89,000 (-34.0%) $108,054 (-29.0%) 0.00 14
2020-07-01 $95,000 (-28.3%) $113,590 (-23.4%) 0.00 14
2020-08-01 $98,000 (-21.3%) $117,269 (-16.4%) 0.00 16
2020-09-01 $92,000 (-24.6%) $111,961 (-18.2%) 0.00 14
2020-10-01 $95,000 (-20.2%) $130,685 (-4.2%) 0.00 13
2020-11-01 $82,000 (-30.2%) $131,206 (8.4%) 0.00 11
2020-12-01 $80,000 (-31.5%) $126,933 (4.1%) 0.00 9
2021-01-01 $84,000 (-6.6%) $119,880 (6.7%) 0.00 7
2021-02-01 $139,250 (56.5%) $154,915 (37.5%) 0.00 3
2021-03-01 $119,500 (37.4%) $121,600 (9.2%) 0.00 6
2021-04-01 $119,500 (44.0%) $108,140 (-4.1%) 0.00 8
2021-05-01 $109,500 (25.1%) $96,780 (-11.7%) 0.00 6
2021-06-01 $89,000 (0.0%) $103,047 (-4.6%) 0.00 9
2021-07-01 $82,000 (-13.7%) $108,118 (-4.8%) 0.00 13
2021-08-01 $85,000 (-13.3%) $115,732 (-1.3%) 0.00 17
2021-09-01 $79,000 (-14.1%) $102,383 (-8.6%) 0.00 15
2021-10-01 $79,000 (-16.8%) $98,300 (-24.8%) 0.00 15
2021-11-01 $86,250 (5.2%) $129,089 (-1.6%) 0.00 15
2021-12-01 $85,000 (6.3%) $106,065 (-16.4%) 0.00 15
2022-01-01 $87,500 (4.2%) $128,900 (7.5%) 0.00 14
2022-02-01 $137,450 (-1.3%) $129,387 (-16.5%) 0.00 12
2022-03-01 $128,000 (7.1%) $120,401 (-1.0%) 0.00 12
2022-04-01 $129,900 (8.7%) $159,883 (47.9%) 0.00 17
2022-05-01 $158,750 (45.0%) $194,875 (101.4%) 0.00 14
2022-06-01 $145,000 (62.9%) $190,555 (84.9%) 0.00 15
Vernon's median listing price for 2022-06-01 was $145,000, a difference of $56,000 (62.9%) versus the prior year and $-13,750 versus the prior month.

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

Vernon's average listing price for 2022-06-01 was $190,555, a difference of $87,508 (84.9%) versus the prior year and $-4,320 versus the prior month.

For the 2022-06-01 period, Vernon had 15 MLS listings, a difference of 1 listings (7%) versus the prior month and 6 listings (67%) 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 2,104 sqft
2018-02-01 0 days 2,016 sqft
2018-03-01 0 days 2,169 sqft
2018-04-01 0 days 2,361 sqft
2018-05-01 0 days 2,289 sqft
2018-06-01 0 days 2,289 sqft
2018-07-01 0 days 2,189 sqft
2018-08-01 0 days 2,058 sqft
2018-09-01 0 days 1,772 sqft
2018-10-01 0 days 1,795 sqft
2018-11-01 0 days 1,784 sqft
2018-12-01 0 days 1,795 sqft
2019-01-01 0 days 1,857 sqft
2019-02-01 0 days 1,946 sqft
2019-03-01 0 days 1,917 sqft
2019-04-01 0 days 1,883 sqft
2019-05-01 0 days 2,180 sqft
2019-06-01 0 days 2,208 sqft
2019-07-01 0 days 2,132 sqft
2019-08-01 0 days 2,093 sqft
2019-09-01 0 days 1,957 sqft
2019-10-01 0 days 1,967 sqft
2019-11-01 0 days 1,967 sqft
2019-12-01 0 days 2,004 sqft
2020-01-01 0 days 1,967 sqft
2020-02-01 0 days 1,909 sqft
2020-03-01 0 days 1,938 sqft
2020-04-01 0 days 1,967 sqft
2020-05-01 0 days 2,004 sqft
2020-06-01 0 days 1,957 sqft
2020-07-01 0 days 2,004 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 2,128 sqft
2020-12-01 0 days 2,042 sqft
2021-01-01 0 days 2,150 sqft
2021-02-01 0 days 2,427 sqft
2021-03-01 0 days 2,186 sqft
2021-04-01 0 days 1,768 sqft
2021-05-01 0 days 1,520 sqft
2021-06-01 0 days 1,520 sqft
2021-07-01 0 days 1,379 sqft
2021-08-01 0 days 1,552 sqft
2021-09-01 0 days 1,349 sqft
2021-10-01 0 days 1,340 sqft
2021-11-01 0 days 1,941 sqft
2021-12-01 0 days 1,386 sqft
2022-01-01 0 days 1,432 sqft
2022-02-01 0 days 1,750 sqft
2022-03-01 0 days 1,712 sqft
2022-04-01 0 days 1,728 sqft
2022-05-01 0 days 2,205 sqft
2022-06-01 0 days 2,202 sqft
Vernon's median listing age (time on market) for 2022-06-01 was 0 days.

Vernon's median square footage for active listings during the 2022-06-01 period was 2,202 sqft. One year prior, the average listing was 1,520 sqft.