Gainesville USDA Loan Rates, Closing Costs & Stats
GAINESVILLE, FL
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Gainesville's 20 lenders originated 42 USDA loans during 2022. The total origination value was $8,180,000, with an average USDA loan value of $194,762.
Gainesville USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Gainesville
averaged
6.04%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Gainesville's average USDA mortgage closing costs are $6,002.
The average rate for the prior week (2023-05-19) was
5.88% and
one month ago for the week of 2023-04-21, the
average rate was 5.89%.
The average rate one year ago was 5.11%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.16%.
Gainesville USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Gainesville level.
| Name | # of Loans | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | 4 | 3.23% | $7,135 |
| UNION HOME MORTGAGE CORP. | 4 | 4.75% | $5,400 |
| Ameris Bank | 4 | 4.88% | $6,217 |
| AMERIFIRST FINANCIAL CORPORATION | 4 | 4.13% | $8,173 |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | 3 | 4.71% | $6,087 |
| CALIBER HOME LOANS, INC. | 3 | 3.33% | $8,304 |
| Mortgage Lenders Investment Trading Corporation | 3 | 4.67% | $8,258 |
| Paramount Residential Mortgage Group, Inc. | 2 | 4.06% | $7,082 |
| CARDINAL FINANCIAL | 2 | 3.63% | $6,061 |
| South State Bank | 2 | 5.63% | $7,810 |
| METROPLEX MORTGAGE SERVICES, INC. | 1 | 2.25% | $4,591 |
| Capital City Home Loans, LLC | 1 | 3.88% | $6,111 |
| MOVEMENT MORTGAGE, LLC | 1 | 3.75% | $8,364 |
| Plains Commerce Bank | 1 | 5.50% | $6,122 |
| Sierra Pacific Mortgage Company, Inc. | 1 | 4.88% | $6,773 |
| THE MORTGAGE FIRM, INC. | 1 | 4.99% | $7,572 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 4.63% | $5,981 |
| DHI MORTGAGE COMPANY, LTD. | 1 | 4.75% | $7,410 |
| First Savings Bank | 1 | 4.25% | $5,536 |
| GUARANTEED RATE, INC. | 1 | 4.25% | $6,895 |
The top Gainesville USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
4 USDA loans originated. Their average total fees are
$7,135, which is $1,735
higher than the next largest lender,
UNION HOME MORTGAGE CORP..
The lowest fee Gainesville USDA lenders (with over 10 loans originated) are
.
The lowest rate Gainesville USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Gainesville (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 | $239,900 (14.6%) | $307,844 (12.2%) | 0.89 | 1,055 |
| 2018-02-01 | $242,015 (12.7%) | $310,186 (12.2%) | 0.88 | 1,091 |
| 2018-03-01 | $245,000 (8.9%) | $304,608 (8.1%) | 0.86 | 1,144 |
| 2018-04-01 | $244,876 (8.8%) | $307,261 (7.9%) | 0.83 | 1,208 |
| 2018-05-01 | $249,700 (8.6%) | $312,591 (8.5%) | 0.83 | 1,203 |
| 2018-06-01 | $246,700 (7.3%) | $312,051 (9.9%) | 0.82 | 1,252 |
| 2018-07-01 | $246,571 (7.3%) | $309,460 (7.4%) | 0.82 | 1,296 |
| 2018-08-01 | $244,950 (6.9%) | $306,792 (6.6%) | 0.82 | 1,300 |
| 2018-09-01 | $244,200 (6.2%) | $307,151 (5.8%) | 0.82 | 1,259 |
| 2018-10-01 | $244,900 (7.5%) | $309,497 (8.1%) | 0.83 | 1,231 |
| 2018-11-01 | $239,823 (4.5%) | $305,669 (3.6%) | 0.81 | 1,206 |
| 2018-12-01 | $239,900 (1.5%) | $305,145 (2.2%) | 0.83 | 1,159 |
| 2019-01-01 | $244,950 (2.1%) | $310,484 (0.9%) | 0.85 | 1,150 |
| 2019-02-01 | $249,900 (3.3%) | $313,668 (1.1%) | 0.84 | 1,173 |
| 2019-03-01 | $249,900 (2.0%) | $312,740 (2.7%) | 0.83 | 1,225 |
| 2019-04-01 | $257,000 (5.0%) | $403,397 (31.3%) | 0.82 | 1,213 |
| 2019-05-01 | $264,630 (6.0%) | $496,664 (58.9%) | 0.83 | 1,216 |
| 2019-06-01 | $265,000 (7.4%) | $328,856 (5.4%) | 0.83 | 1,197 |
| 2019-07-01 | $267,998 (8.7%) | $330,499 (6.8%) | 0.84 | 1,156 |
| 2019-08-01 | $274,444 (12.0%) | $335,160 (9.3%) | 0.86 | 1,162 |
| 2019-09-01 | $271,948 (11.4%) | $329,840 (7.4%) | 0.86 | 1,060 |
| 2019-10-01 | $266,725 (8.9%) | $322,094 (4.1%) | 0.86 | 1,140 |
| 2019-11-01 | $269,000 (12.2%) | $320,312 (4.8%) | 0.88 | 1,056 |
| 2019-12-01 | $265,450 (10.7%) | $317,592 (4.1%) | 0.89 | 1,042 |
| 2020-01-01 | $272,050 (11.1%) | $322,925 (4.0%) | 0.91 | 985 |
| 2020-02-01 | $274,900 (10.0%) | $326,559 (4.1%) | 0.90 | 1,018 |
| 2020-03-01 | $281,111 (12.5%) | $329,537 (5.4%) | 0.88 | 1,093 |
| 2020-04-01 | $281,900 (9.7%) | $328,687 (-18.5%) | 0.88 | 1,111 |
| 2020-05-01 | $289,000 (9.2%) | $348,420 (-29.9%) | 0.88 | 1,022 |
| 2020-06-01 | $290,000 (9.4%) | $356,907 (8.5%) | 0.85 | 905 |
| 2020-07-01 | $288,245 (7.6%) | $354,608 (7.3%) | 0.84 | 911 |
| 2020-08-01 | $279,900 (2.0%) | $348,322 (3.9%) | 0.80 | 883 |
| 2020-09-01 | $279,495 (2.8%) | $350,448 (6.3%) | 0.80 | 856 |
| 2020-10-01 | $277,950 (4.2%) | $348,168 (8.1%) | 0.80 | 827 |
| 2020-11-01 | $262,450 (-2.4%) | $347,458 (8.5%) | 0.77 | 821 |
| 2020-12-01 | $254,250 (-4.2%) | $346,009 (9.0%) | 0.76 | 770 |
| 2021-01-01 | $259,900 (-4.5%) | $345,624 (7.0%) | 0.78 | 697 |
| 2021-02-01 | $262,900 (-4.4%) | $346,956 (6.3%) | 0.76 | 594 |
| 2021-03-01 | $265,000 (-5.7%) | $362,285 (9.9%) | 0.75 | 516 |
| 2021-04-01 | $289,675 (2.8%) | $398,758 (21.3%) | 0.78 | 483 |
| 2021-05-01 | $289,950 (0.3%) | $389,686 (11.8%) | 0.77 | 496 |
| 2021-06-01 | $289,750 (-0.1%) | $391,101 (9.6%) | 0.76 | 529 |
| 2021-07-01 | $280,000 (-2.9%) | $390,516 (10.1%) | 0.74 | 595 |
| 2021-08-01 | $286,995 (2.5%) | $394,077 (13.1%) | 0.77 | 665 |
| 2021-09-01 | $284,945 (2.0%) | $400,264 (14.2%) | 0.76 | 679 |
| 2021-10-01 | $299,000 (7.6%) | $413,251 (18.7%) | 0.80 | 617 |
| 2021-11-01 | $301,998 (15.1%) | $414,670 (19.3%) | 0.81 | 557 |
| 2021-12-01 | $307,241 (20.8%) | $434,844 (25.7%) | 0.83 | 474 |
| 2022-01-01 | $315,000 (21.2%) | $427,092 (23.6%) | 0.85 | 398 |
| 2022-02-01 | $335,000 (27.4%) | $436,334 (25.8%) | 0.87 | 377 |
| 2022-03-01 | $335,450 (26.6%) | $440,783 (21.7%) | 0.84 | 383 |
| 2022-04-01 | $350,000 (20.8%) | $481,704 (20.8%) | 0.83 | 378 |
| 2022-05-01 | $372,500 (28.5%) | $484,956 (24.5%) | 0.85 | 446 |
| 2022-06-01 | $375,000 (29.4%) | $475,089 (21.5%) | 0.84 | 592 |
| 2022-07-01 | $364,900 (30.3%) | $460,755 (18.0%) | 0.82 | 716 |
| 2022-08-01 | $356,463 (24.2%) | $458,389 (16.3%) | 0.82 | 743 |
| 2022-09-01 | $354,675 (24.5%) | $449,537 (12.3%) | 0.83 | 775 |
| 2022-10-01 | $348,250 (16.5%) | $437,364 (5.8%) | 0.82 | 798 |
| 2022-11-01 | $344,950 (14.2%) | $435,124 (4.9%) | 0.83 | 785 |
| 2022-12-01 | $349,900 (13.9%) | $445,350 (2.4%) | 0.86 | 744 |
| 2023-01-01 | $350,000 (11.1%) | $452,538 (6.0%) | 0.87 | 657 |
| 2023-02-01 | $373,625 (11.5%) | $457,969 (5.0%) | 0.90 | 637 |
| 2023-03-01 | $371,625 (10.8%) | $466,231 (5.8%) | 0.88 | 633 |
| 2023-04-01 | $370,000 (5.7%) | $476,620 (-1.1%) | 0.86 | 663 |
Gainesville's median listing price comes in at 86% of the national average.
Gainesville's average listing price for 2023-04-01 was $476,620, a difference of $-5,084 (-1.1%) versus the prior year and $10,389 versus the prior month.
For the 2023-04-01 period, Gainesville had 663 MLS listings, a difference of 30 listings (5%) versus the prior month and 285 listings (75%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Gainesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 105 days | 1,775 sqft |
| 2018-02-01 | 93 days | 1,779 sqft |
| 2018-03-01 | 64 days | 1,792 sqft |
| 2018-04-01 | 59 days | 1,805 sqft |
| 2018-05-01 | 59 days | 1,821 sqft |
| 2018-06-01 | 61 days | 1,798 sqft |
| 2018-07-01 | 67 days | 1,790 sqft |
| 2018-08-01 | 77 days | 1,788 sqft |
| 2018-09-01 | 85 days | 1,781 sqft |
| 2018-10-01 | 87 days | 1,785 sqft |
| 2018-11-01 | 90 days | 1,745 sqft |
| 2018-12-01 | 93 days | 1,759 sqft |
| 2019-01-01 | 94 days | 1,767 sqft |
| 2019-02-01 | 87 days | 1,798 sqft |
| 2019-03-01 | 61 days | 1,755 sqft |
| 2019-04-01 | 61 days | 1,795 sqft |
| 2019-05-01 | 60 days | 1,821 sqft |
| 2019-06-01 | 65 days | 1,840 sqft |
| 2019-07-01 | 75 days | 1,857 sqft |
| 2019-08-01 | 86 days | 1,876 sqft |
| 2019-09-01 | 87 days | 1,872 sqft |
| 2019-10-01 | 82 days | 1,842 sqft |
| 2019-11-01 | 89 days | 1,828 sqft |
| 2019-12-01 | 93 days | 1,800 sqft |
| 2020-01-01 | 93 days | 1,805 sqft |
| 2020-02-01 | 79 days | 1,792 sqft |
| 2020-03-01 | 57 days | 1,804 sqft |
| 2020-04-01 | 63 days | 1,815 sqft |
| 2020-05-01 | 79 days | 1,838 sqft |
| 2020-06-01 | 94 days | 1,829 sqft |
| 2020-07-01 | 68 days | 1,784 sqft |
| 2020-08-01 | 74 days | 1,713 sqft |
| 2020-09-01 | 81 days | 1,700 sqft |
| 2020-10-01 | 88 days | 1,700 sqft |
| 2020-11-01 | 78 days | 1,668 sqft |
| 2020-12-01 | 80 days | 1,640 sqft |
| 2021-01-01 | 85 days | 1,663 sqft |
| 2021-02-01 | 72 days | 1,620 sqft |
| 2021-03-01 | 49 days | 1,620 sqft |
| 2021-04-01 | 43 days | 1,685 sqft |
| 2021-05-01 | 39 days | 1,684 sqft |
| 2021-06-01 | 40 days | 1,647 sqft |
| 2021-07-01 | 44 days | 1,657 sqft |
| 2021-08-01 | 45 days | 1,660 sqft |
| 2021-09-01 | 48 days | 1,630 sqft |
| 2021-10-01 | 57 days | 1,662 sqft |
| 2021-11-01 | 63 days | 1,657 sqft |
| 2021-12-01 | 76 days | 1,605 sqft |
| 2022-01-01 | 67 days | 1,600 sqft |
| 2022-02-01 | 40 days | 1,595 sqft |
| 2022-03-01 | 40 days | 1,644 sqft |
| 2022-04-01 | 42 days | 1,708 sqft |
| 2022-05-01 | 36 days | 1,770 sqft |
| 2022-06-01 | 37 days | 1,800 sqft |
| 2022-07-01 | 40 days | 1,770 sqft |
| 2022-08-01 | 52 days | 1,735 sqft |
| 2022-09-01 | 55 days | 1,742 sqft |
| 2022-10-01 | 60 days | 1,705 sqft |
| 2022-11-01 | 70 days | 1,701 sqft |
| 2022-12-01 | 75 days | 1,706 sqft |
| 2023-01-01 | 74 days | 1,706 sqft |
| 2023-02-01 | 71 days | 1,728 sqft |
| 2023-03-01 | 53 days | 1,719 sqft |
| 2023-04-01 | 50 days | 1,748 sqft |
Gainesville's median square footage for active listings during the 2023-04-01 period was 1,748 sqft. One year prior, the average listing was 1,708 sqft.