Gainesville FHA Loan Rates, Closing Costs & Stats
GAINESVILLE, FL
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote
home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and
credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores
between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)--
an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Gainesville's 114 lenders originated 966 FHA
loans during 2024. The total origination value was $251,600,000, with an average FHA loan value of
$260,455.
Gainesville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Gainesville
averaged
0.09%
for the week of 2025-06-20, compared to the national average (all FHA variants) of
0% for the same period.
Gainesville's average FHA mortgage closing costs are $9,019.
The average rate for the prior week (2025-06-13) was
6.87% and
one month ago for the week of 2025-05-16, the
average rate was 6.63%.
The average rate one year ago was 6.88%.
For refis of the same type during the week of 2025-06-20, the average rate
was -0.34%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Gainesville FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender
at the Gainesville level.
Name |
# of Loans |
2024 Avg. 30yFix Rate |
2024 Avg. Closing Costs |
UNITED WHOLESALE MORTGAGE, LLC
|
118
|
6.29%
|
$11,812
|
DHI MORTGAGE COMPANY, LTD.
|
89
|
5.01%
|
$9,676
|
QUICKEN LOANS, LLC
|
63
|
6.27%
|
$11,444
|
AFFORDABLE MORTGAGE ADVISORS, LLC.
|
44
|
6.51%
|
$10,545
|
EAGLE HOME MORTGAGE, LLC
|
42
|
4.75%
|
$10,224
|
Mortgage Lenders Investment Trading Corporation
|
37
|
6.65%
|
$13,594
|
FREEDOM MORTGAGE CORPORATION
|
26
|
6.24%
|
$12,502
|
FBC MORTGAGE, LLC
|
25
|
5.89%
|
$11,637
|
AMERICAN FINANCIAL NETWORK, INC.
|
24
|
6.55%
|
$15,344
|
PENNYMAC LOAN SERVICES, LLC
|
20
|
5.97%
|
$13,047
|
Advisors Mortgage Group, L.L.C.
|
18
|
6.20%
|
$12,712
|
Equity Prime Mortgage LLC
|
16
|
7.10%
|
$12,827
|
MOVEMENT MORTGAGE, LLC
|
16
|
6.30%
|
$11,489
|
EVERETT FINANCIAL, INC.
|
15
|
6.76%
|
$9,137
|
THE MORTGAGE FIRM, INC.
|
14
|
6.70%
|
$9,752
|
Ameris Bank
|
14
|
6.38%
|
$11,980
|
Carrington Mortgage Services, LLC
|
12
|
6.17%
|
$11,872
|
GUARANTEED RATE, INC.
|
12
|
6.24%
|
$10,762
|
BROKER SOLUTIONS, INC.
|
11
|
7.02%
|
$13,663
|
NEWREZ LLC
|
11
|
6.61%
|
$10,682
|
Flagstar Bank, FSB
|
10
|
6.63%
|
$8,149
|
AMERICAN FINANCIAL RESOURCES, INC.
|
9
|
6.94%
|
$9,478
|
UNION HOME MORTGAGE CORP.
|
8
|
6.87%
|
$11,350
|
LOANDEPOT.COM, LLC
|
7
|
6.41%
|
$11,541
|
AMERICAN FINANCING CORPORATION
|
6
|
6.27%
|
$15,247
|
Paramount Residential Mortgage Group, Inc.
|
6
|
6.62%
|
$13,863
|
SUN WEST MORTGAGE COMPANY, INC.
|
6
|
6.33%
|
$11,805
|
Plains Commerce Bank
|
5
|
6.45%
|
$12,107
|
Century Mortgage Company DBA Century Lending Company
|
5
|
6.47%
|
$16,246
|
SUCCESS MORTGAGE PARTNERS, INC.
|
5
|
6.10%
|
$16,284
|
ALKAN MORTGAGE CORPORATION
|
5
|
6.25%
|
$15,786
|
Wolfe Financial, Inc
|
5
|
7.13%
|
$12,118
|
LEADERONE FINANCIAL CORPORATION
|
5
|
6.50%
|
$11,735
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
5
|
6.70%
|
$10,058
|
NFM, INC.
|
5
|
7.13%
|
$9,302
|
CROSSCOUNTRY MORTGAGE, LLC
|
4
|
6.84%
|
$12,463
|
AMERISAVE MORTGAGE CORPORATION
|
4
|
6.41%
|
$16,144
|
CARDINAL FINANCIAL
|
4
|
7.13%
|
$13,081
|
LAKEVIEW LOAN SERVICING, LLC
|
4
|
6.13%
|
$13,102
|
CMG MORTGAGE, INC.
|
3
|
6.46%
|
$16,418
|
Alcova Mortgage LLC
|
3
|
7.54%
|
$5,774
|
Bank of England
|
3
|
6.42%
|
$16,468
|
First Federal Bank
|
3
|
6.75%
|
$12,723
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
3
|
6.08%
|
$14,288
|
Nations Lending Corporation
|
3
|
6.63%
|
$9,785
|
PLANET HOME LENDING, LLC
|
3
|
6.25%
|
$10,507
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
3
|
6.92%
|
$6,596
|
Seacoast National Bank
|
3
|
6.29%
|
$9,986
|
South State Bank
|
3
|
6.50%
|
$8,822
|
STOCKTON MORTGAGE CORPORATION
|
3
|
7.00%
|
$9,952
|
VILLAGE CAPITAL MORTGAGE
|
3
|
6.17%
|
$14,262
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
2
|
5.94%
|
$10,298
|
ATLANTIC BAY MORTGAGE GROUP, L.L.C.
|
2
|
5.69%
|
$14,590
|
ROYAL UNITED MORTGAGE LLC
|
2
|
7.25%
|
$7,277
|
TOP FLITE FINANCIAL, INC.
|
2
|
7.00%
|
$16,210
|
TOWNE MORTGAGE COMPANY
|
2
|
6.50%
|
$12,743
|
VYSTAR
|
2
|
7.31%
|
$6,258
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
2
|
6.87%
|
$13,637
|
Sierra Pacific Mortgage Company, Inc.
|
2
|
5.25%
|
$14,480
|
Prosperity Home Mortgage, LLC
|
2
|
6.19%
|
$13,902
|
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION
|
2
|
6.56%
|
$9,324
|
SOUTHWEST FUNDING, LP
|
2
|
6.69%
|
$10,248
|
Mortgage Research Center, LLC
|
2
|
6.88%
|
$11,062
|
GUILD MORTGAGE COMPANY
|
2
|
6.44%
|
$10,611
|
MILEND, INC.
|
2
|
6.38%
|
$12,590
|
JMAC LENDING, INC.
|
2
|
6.63%
|
$10,494
|
NETWORK CAPITAL FUNDING CORPORATION
|
1
|
7.13%
|
$16,257
|
CALCON MUTUAL MORTGAGE LLC
|
1
|
6.25%
|
$12,586
|
BAYSHORE MORTGAGE FUNDING, LLC
|
1
|
6.13%
|
$26,716
|
NJ LENDERS CORP.
|
1
|
6.00%
|
$7,953
|
Northpointe Bank
|
1
|
7.13%
|
$11,263
|
NORWICH COMMERCIAL GROUP, INC.
|
1
|
7.75%
|
$5,610
|
NP, Inc.
|
1
|
6.63%
|
$9,182
|
OCEANSIDE MORTGAGE COMPANY
|
1
|
5.75%
|
$5,338
|
Barrington Bank & Trust Company, N.A.
|
1
|
6.75%
|
$16,742
|
Bank of America
|
1
|
6.00%
|
$10,299
|
VAN DYK MORTGAGE CORPORATION
|
1
|
6.99%
|
$9,412
|
PLAZA HOME MORTGAGE, INC.
|
1
|
6.13%
|
$10,601
|
PNC Bank
|
1
|
6.50%
|
$11,002
|
ZILLOW HOME LOANS, LLC
|
1
|
6.75%
|
$9,932
|
Arvest Bank
|
1
|
5.88%
|
$8,431
|
READY MORTGAGE LENDERS, LLC
|
1
|
7.13%
|
$18,550
|
Renasant Bank
|
1
|
6.25%
|
$9,059
|
Residential Acceptance Corporation
|
1
|
7.00%
|
$5,680
|
SFMC, LP
|
1
|
5.75%
|
$19,265
|
WATSON MORTGAGE CORP.
|
1
|
7.25%
|
$15,845
|
SOUTHWEST STAGE FUNDING, LLC
|
1
|
5.88%
|
$5,232
|
ABSOLUTE HOME MORTGAGE CORPORATION
|
1
|
7.00%
|
$6,519
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
1
|
6.63%
|
$6,585
|
The Loan Store, Inc.
|
1
|
6.75%
|
$13,024
|
American Mortgage & Equity Consultants, Inc.
|
1
|
6.13%
|
$18,766
|
AMERICAN FEDERAL MORTGAGE CORPORATION
|
1
|
5.63%
|
$8,073
|
UNITED MORTGAGE CORP
|
1
|
8.25%
|
$10,196
|
FIRST INTEGRITY MORTGAGE SERVICES, INC.
|
1
|
6.75%
|
$9,511
|
Gateway First Bank
|
1
|
6.75%
|
$13,158
|
Goldwater Bank, N.A.
|
1
|
6.63%
|
$12,218
|
FIRST ALLIANCE HOME MORTGAGE, LLC
|
1
|
6.63%
|
$13,547
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
1
|
6.50%
|
$11,797
|
Ixonia Bank
|
1
|
6.75%
|
$4,327
|
INTELLILOAN, INC.
|
1
|
5.75%
|
$5,466
|
Lakeview Community Capital, LLC
|
1
|
6.50%
|
$11,607
|
EMM LOANS LLC
|
1
|
5.63%
|
$11,071
|
EMBRACE HOME LOANS, INC.
|
1
|
6.25%
|
$16,946
|
DIAMOND RESIDENTIAL MORTGAGE CORPORATION
|
1
|
6.63%
|
$11,518
|
LOANPAL, LLC
|
1
|
6.63%
|
$10,583
|
MICHIGAN MUTUAL, INC.
|
1
|
6.25%
|
$11,124
|
1ST FINANCIAL, INC.
|
1
|
6.75%
|
$10,231
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
1
|
7.25%
|
$28,755
|
CHURCHILL MORTGAGE CORPORATION
|
1
|
6.75%
|
$16,724
|
Mr. Cooper ( Nationstar Mortgage )
|
1
|
5.75%
|
$17,925
|
AMERICAN BANCSHARES MORTGAGE
|
1
|
5.75%
|
$11,031
|
MY MORTGAGE, INC.
|
1
|
7.13%
|
$8,397
|
U.S. Bank
|
1
|
6.63%
|
$6,764
|
NATIONWIDE MORTGAGE BANKERS, INC.
|
1
|
6.63%
|
$19,899
|
The top Gainesville FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
118 FHA loans originated. Their average total fees are
$11,812, which is $2,136
higher than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
The lowest fee Gainesville FHA lenders (with over 10 loans originated) are
Flagstar Bank, FSB ($8,149), EVERETT FINANCIAL, INC. ($9,137), DHI MORTGAGE COMPANY, LTD. ($9,676), THE MORTGAGE FIRM, INC. ($9,752) and EAGLE HOME MORTGAGE, LLC ($10,224).
The lowest rate Gainesville FHA lenders (with over 10 loans originated) are
EAGLE HOME MORTGAGE, LLC (4.75%), DHI MORTGAGE COMPANY, LTD. (5.01%), FBC MORTGAGE, LLC (5.89%), PENNYMAC LOAN SERVICES, LLC (5.97%) and Carrington Mortgage Services, LLC (6.17%).
Gainesville FHA Loan Limits
Metro |
County |
Year |
Single Family Limit |
2 Family Limit |
3 Family Limit |
4 Family Limit |
GAINESVILLE, FL |
ALACHUA |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
GAINESVILLE, FL |
GILCHRIST |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
GAINESVILLE, FL |
LEVY |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
GAINESVILLE, FL |
ALACHUA |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
GAINESVILLE, FL |
GILCHRIST |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
GAINESVILLE, FL |
LEVY |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
FHA Loan Requirements
Borrowers must have a steady employment history or worked for the same employer for the past two years.
Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a
mortgage in your state.
Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
New FHA loans are only available for primary residence occupancy.
Borrowers must have a property appraisal from a FHA-approved appraiser.
Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance)
needs to be less than 31 percent of their gross income, typically. You may be able to get approved
with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they
believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment,
student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to
get approved with as high a percentage as 50 percent.
Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5
percent.
Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down
payment of 10 percent.
Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can
be made.
Typically borrowers must be three years out of foreclosure and have re-established good credit.
The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet
these standards and a seller will not agree to the required repairs, your only option is to pay for the required
repairs at closing (to be held in escrow until the repairs are complete).