Gainesville FHA Loan Rates, Closing Costs & Stats

GAINESVILLE, FL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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).