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 19 lenders originated 29 USDA loans during 2023. The total origination value was $6,455,000, with an average USDA loan value of $222,586.
Gainesville USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Gainesville
averaged
6.53%
for the week of 2024-07-19, compared to the national average (all USDA variants) of
6.628% for the same period.
Gainesville's average USDA mortgage closing costs are $6,137.
The average rate for the prior week (2024-07-12) was
6.45% and
one month ago for the week of 2024-06-14, the
average rate was 6.68%.
The average rate one year ago was 6.44%.
For refis of the same type during the week of 2024-07-19, the average rate
was 6.86%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | 5 | 5.75% | $10,730 |
| Ameris Bank | 3 | 6.38% | $9,995 |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | 2 | 6.88% | $9,680 |
| Mortgage Lenders Investment Trading Corporation | 2 | 7.25% | $7,111 |
| Advisors Mortgage Group, L.L.C. | 2 | 5.87% | $9,308 |
| FREEDOM MORTGAGE CORPORATION | 1 | 7.50% | $7,191 |
| 1ST SIGNATURE LENDING, LLC | 1 | 7.25% | $11,663 |
| METROPLEX MORTGAGE SERVICES, INC. | 1 | 7.00% | $8,125 |
| Mortgage Research Center, LLC | 1 | 6.25% | $4,260 |
| Paramount Residential Mortgage Group, Inc. | 1 | 6.75% | $6,806 |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | 1 | 6.75% | $7,766 |
| SOUTHPOINT FINANCIAL SERVICES, INC. | 1 | 7.13% | $9,304 |
| SUN WEST MORTGAGE COMPANY, INC. | 1 | 6.75% | $15,964 |
| THE MORTGAGE FIRM, INC. | 1 | 6.25% | $7,787 |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | 1 | 5.88% | $3,826 |
| AMERICAN FINANCIAL NETWORK, INC. | 1 | 6.50% | $8,862 |
| AMERICAN FINANCIAL RESOURCES, INC. | 1 | 6.88% | $5,163 |
| BAY EQUITY LLC | 1 | 6.25% | $7,629 |
| BROKER SOLUTIONS, INC. | 1 | 5.60% | $12,582 |
The top Gainesville USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
5 USDA loans originated. Their average total fees are
$10,730, which is $735
higher than the next largest lender,
Ameris Bank.
The lowest fee Gainesville USDA lenders (with over 10 loans originated) are
.
The lowest rate Gainesville USDA lenders (with over 10 loans originated) are
.