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%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

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 for 2023-04-01 was $370,000, a difference of $20,000 (5.7%) versus the prior year and $-1,625 versus the prior month.

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 listing age (time on market) for 2023-04-01 was 50 days. This is 19% longer than the same period one year ago.

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.