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).