Gainesville USDA Loans

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 44 lenders originated 137 USDA loans during 2021. The total origination value was $28,055,000, with an average USDA loan value of $204,781.

Gainesville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Gainesville averaged 5.49% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.37% and one month ago for the week of 2022-04-15, the average rate was 5.17%.

The average rate one year ago was 3.01%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.34%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Gainesville level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 19 3.09% $5,920
Mortgage Lenders Investment Trading Corporation 14 3.21% $8,264
DHI MORTGAGE COMPANY, LTD. 10 2.88% $5,905
AMERICAN FINANCIAL NETWORK, INC. 10 3.08% $10,420
UNION HOME MORTGAGE CORP. 7 2.96% $4,797
FBC MORTGAGE, LLC 7 2.91% $6,017
Ameris Bank 5 2.85% $5,841
UNITED WHOLESALE MORTGAGE, LLC 5 2.85% $6,066
Paramount Residential Mortgage Group, Inc. 5 2.83% $6,011
CROSSCOUNTRY MORTGAGE, LLC 3 3.21% $8,003
Advisors Mortgage Group, L.L.C. 3 2.75% $6,352
MOVEMENT MORTGAGE, LLC 3 2.75% $5,981
AMERIFIRST FINANCIAL CORPORATION 3 3.58% $7,662
CALIBER HOME LOANS, INC. 3 2.75% $8,444
FREEDOM MORTGAGE CORPORATION 2 3.13% $7,845
AMERICAN FINANCIAL RESOURCES, INC. 2 3.06% $5,636
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.50% $7,799
STOCKTON MORTGAGE CORPORATION 2 3.19% $4,919
SUCCESS MORTGAGE PARTNERS, INC. 2 3.13% $7,754
TOWNE MORTGAGE COMPANY 2 2.75% $4,877
HOME POINT FINANCIAL CORPORATION 2 2.50% $6,366
UNIVERSITY LENDING GROUP, LLC 1 3.13% $6,959
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.63% $4,921
WATSON MORTGAGE CORP. 1 3.13% $6,379
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.13% $4,918
AXIA FINANCIAL, LLC 1 2.75% $5,227
Bank of England 1 3.00% $6,724
Capital City Home Loans, LLC 1 2.25% $5,061
Equity Prime Mortgage LLC 1 2.75% $2,714
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.38% $8,372
First Home Bank 1 2.88% $5,020
Gateway First Bank 1 2.75% $4,409
HAMILTON HOME LOANS, INC. 1 2.75% $5,398
Hometown Equity Mortgage, LLC 1 2.63% $7,001
LEADERONE FINANCIAL CORPORATION 1 3.25% $5,667
LOANDEPOT.COM, LLC 1 2.88% $7,249
METROPLEX MORTGAGE SERVICES, INC. 1 3.00% $5,470
MICHIGAN MUTUAL, INC. 1 3.00% $7,166
Midwest Mortgage Associates Corporation 1 2.75% $5,132
PENNYMAC LOAN SERVICES, LLC 1 2.75% $4,741
Plains Commerce Bank 1 2.75% $6,273
Prosperity Home Mortgage, LLC 1 2.75% $4,491
Regions Bank 1 2.50% $5,019
SUN WEST MORTGAGE COMPANY, INC. 1 2.50% $6,055

The top Gainesville USDA lender as defined by loan originations is AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC, with 19 USDA loans originated. Their average total fees are $5,920, which is $2,344 lower than the next largest lender, Mortgage Lenders Investment Trading Corporation.

The lowest fee Gainesville USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($5,905), AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC ($5,920), Mortgage Lenders Investment Trading Corporation ($8,264), AMERICAN FINANCIAL NETWORK, INC. ($10,420) and .

The lowest rate Gainesville USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.88%), AMERICAN FINANCIAL NETWORK, INC. (3.08%), AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC (3.09%), Mortgage Lenders Investment Trading Corporation (3.21%) and .