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
6.56%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Gainesville's average USDA mortgage closing costs are $6,137.
The average rate for the prior week (2024-04-12) was
6.61% and
one month ago for the week of 2024-03-15, the
average rate was 6.3%.
The average rate one year ago was 6.14%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.19%.
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
.
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 (14.9%) | $307,693 (12.3%) | 0.89 | 1,053 |
| 2018-02-01 | $242,015 (13.1%) | $310,046 (12.4%) | 0.88 | 1,089 |
| 2018-03-01 | $245,000 (8.9%) | $304,465 (8.2%) | 0.86 | 1,142 |
| 2018-04-01 | $245,350 (9.0%) | $307,275 (8.0%) | 0.83 | 1,206 |
| 2018-05-01 | $249,700 (8.6%) | $310,001 (7.6%) | 0.83 | 1,201 |
| 2018-06-01 | $245,900 (7.0%) | $308,983 (8.8%) | 0.82 | 1,249 |
| 2018-07-01 | $246,450 (7.2%) | $306,579 (6.4%) | 0.82 | 1,293 |
| 2018-08-01 | $244,950 (6.9%) | $304,051 (5.7%) | 0.82 | 1,298 |
| 2018-09-01 | $244,900 (6.5%) | $304,582 (5.0%) | 0.82 | 1,258 |
| 2018-10-01 | $244,900 (7.5%) | $306,860 (7.2%) | 0.83 | 1,230 |
| 2018-11-01 | $239,895 (4.6%) | $303,104 (2.8%) | 0.81 | 1,207 |
| 2018-12-01 | $239,900 (1.5%) | $301,904 (1.2%) | 0.83 | 1,158 |
| 2019-01-01 | $244,950 (2.1%) | $307,179 (-0.2%) | 0.85 | 1,150 |
| 2019-02-01 | $249,900 (3.3%) | $313,668 (1.2%) | 0.84 | 1,173 |
| 2019-03-01 | $251,571 (2.7%) | $312,477 (2.6%) | 0.82 | 1,198 |
| 2019-04-01 | $257,000 (4.8%) | $403,697 (31.4%) | 0.82 | 1,219 |
| 2019-05-01 | $264,630 (6.0%) | $496,961 (60.3%) | 0.83 | 1,216 |
| 2019-06-01 | $264,998 (7.8%) | $329,202 (6.5%) | 0.83 | 1,196 |
| 2019-07-01 | $267,948 (8.7%) | $330,363 (7.8%) | 0.84 | 1,155 |
| 2019-08-01 | $265,791 (8.5%) | $327,812 (7.8%) | 0.84 | 1,161 |
| 2019-09-01 | $262,477 (7.2%) | $322,792 (6.0%) | 0.84 | 1,167 |
| 2019-10-01 | $264,068 (7.8%) | $319,445 (4.1%) | 0.85 | 1,149 |
| 2019-11-01 | $269,000 (12.1%) | $320,150 (5.6%) | 0.88 | 1,054 |
| 2019-12-01 | $265,000 (10.5%) | $317,436 (5.1%) | 0.88 | 1,040 |
| 2020-01-01 | $270,950 (10.6%) | $322,753 (5.1%) | 0.91 | 984 |
| 2020-02-01 | $274,300 (9.8%) | $326,401 (4.1%) | 0.90 | 1,017 |
| 2020-03-01 | $280,000 (11.3%) | $329,391 (5.4%) | 0.88 | 1,091 |
| 2020-04-01 | $279,950 (8.9%) | $328,536 (-18.6%) | 0.88 | 1,109 |
| 2020-05-01 | $288,500 (9.0%) | $348,313 (-29.9%) | 0.88 | 1,021 |
| 2020-06-01 | $289,975 (9.4%) | $356,819 (8.4%) | 0.85 | 904 |
| 2020-07-01 | $287,745 (7.4%) | $354,532 (7.3%) | 0.83 | 910 |
| 2020-08-01 | $279,900 (5.3%) | $348,268 (6.2%) | 0.80 | 882 |
| 2020-09-01 | $279,495 (6.5%) | $350,448 (8.6%) | 0.80 | 856 |
| 2020-10-01 | $277,950 (5.3%) | $348,168 (9.0%) | 0.80 | 827 |
| 2020-11-01 | $262,450 (-2.4%) | $347,288 (8.5%) | 0.77 | 821 |
| 2020-12-01 | $254,250 (-4.1%) | $345,872 (9.0%) | 0.76 | 769 |
| 2021-01-01 | $259,900 (-4.1%) | $345,890 (7.2%) | 0.78 | 696 |
| 2021-02-01 | $262,798 (-4.2%) | $346,582 (6.2%) | 0.77 | 593 |
| 2021-03-01 | $265,000 (-5.4%) | $362,585 (10.1%) | 0.75 | 516 |
| 2021-04-01 | $289,900 (3.6%) | $398,757 (21.4%) | 0.78 | 483 |
| 2021-05-01 | $290,000 (0.5%) | $390,063 (12.0%) | 0.77 | 495 |
| 2021-06-01 | $290,850 (0.3%) | $391,409 (9.7%) | 0.77 | 528 |
| 2021-07-01 | $280,000 (-2.7%) | $390,835 (10.2%) | 0.74 | 594 |
| 2021-08-01 | $286,995 (2.5%) | $393,981 (13.1%) | 0.77 | 664 |
| 2021-09-01 | $284,945 (2.0%) | $400,910 (14.4%) | 0.76 | 679 |
| 2021-10-01 | $299,000 (7.6%) | $415,372 (19.3%) | 0.80 | 617 |
| 2021-11-01 | $301,995 (15.1%) | $414,590 (19.4%) | 0.81 | 557 |
| 2021-12-01 | $308,444 (21.3%) | $434,848 (25.7%) | 0.84 | 474 |
| 2022-01-01 | $315,000 (21.2%) | $427,092 (23.5%) | 0.85 | 398 |
| 2022-02-01 | $335,000 (27.5%) | $435,894 (25.8%) | 0.87 | 376 |
| 2022-03-01 | $338,663 (27.8%) | $441,243 (21.7%) | 0.85 | 382 |
| 2022-04-01 | $353,995 (22.1%) | $480,656 (20.5%) | 0.84 | 377 |
| 2022-05-01 | $374,500 (29.1%) | $484,005 (24.1%) | 0.86 | 445 |
| 2022-06-01 | $377,000 (29.6%) | $474,173 (21.2%) | 0.84 | 591 |
| 2022-07-01 | $365,000 (30.4%) | $460,839 (17.9%) | 0.82 | 714 |
| 2022-08-01 | $357,300 (24.5%) | $458,129 (16.3%) | 0.83 | 742 |
| 2022-09-01 | $354,675 (24.5%) | $449,750 (12.2%) | 0.83 | 775 |
| 2022-10-01 | $348,250 (16.5%) | $437,048 (5.2%) | 0.82 | 798 |
| 2022-11-01 | $344,950 (14.2%) | $434,773 (4.9%) | 0.83 | 785 |
| 2022-12-01 | $349,900 (13.4%) | $445,534 (2.5%) | 0.86 | 744 |
| 2023-01-01 | $354,500 (12.5%) | $452,678 (6.0%) | 0.88 | 657 |
| 2023-02-01 | $372,450 (11.2%) | $456,990 (4.8%) | 0.90 | 637 |
| 2023-03-01 | $371,250 (9.6%) | $466,100 (5.6%) | 0.88 | 633 |
| 2023-04-01 | $370,000 (4.5%) | $476,416 (-0.9%) | 0.86 | 663 |
| 2023-05-01 | $396,000 (5.7%) | $500,615 (3.4%) | 0.90 | 615 |
| 2023-06-01 | $389,950 (3.4%) | $494,195 (4.2%) | 0.88 | 645 |
| 2023-07-01 | $380,000 (4.1%) | $484,321 (5.1%) | 0.86 | 678 |
| 2023-08-01 | $369,999 (3.6%) | $472,125 (3.1%) | 0.85 | 716 |
| 2023-09-01 | $368,950 (4.0%) | $458,518 (2.0%) | 0.86 | 761 |
| 2023-10-01 | $349,500 (0.4%) | $444,332 (1.7%) | 0.82 | 858 |
| 2023-11-01 | $349,950 (1.5%) | $441,530 (1.6%) | 0.83 | 895 |
| 2023-12-01 | $349,900 (0.0%) | $435,032 (-2.4%) | 0.85 | 930 |
| 2024-01-01 | $349,950 (-1.3%) | $436,851 (-3.5%) | 0.85 | 924 |
| 2024-02-01 | $350,000 (-6.0%) | $440,685 (-3.6%) | 0.84 | 962 |
| 2024-03-01 | $349,000 (-6.0%) | $433,924 (-6.9%) | 0.82 | 1,054 |
Gainesville's median listing price comes in at 82% of the national average.
Gainesville's average listing price for 2024-03-01 was $433,924, a difference of $-32,176 (-6.9%) versus the prior year and $-6,761 versus the prior month.
For the 2024-03-01 period, Gainesville had 1,054 MLS listings, a difference of 92 listings (10%) versus the prior month and 421 listings (67%) 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 | 94 days | 1,775 sqft |
| 2018-02-01 | 80 days | 1,779 sqft |
| 2018-03-01 | 54 days | 1,792 sqft |
| 2018-04-01 | 52 days | 1,805 sqft |
| 2018-05-01 | 53 days | 1,821 sqft |
| 2018-06-01 | 56 days | 1,798 sqft |
| 2018-07-01 | 62 days | 1,790 sqft |
| 2018-08-01 | 68 days | 1,790 sqft |
| 2018-09-01 | 79 days | 1,782 sqft |
| 2018-10-01 | 80 days | 1,785 sqft |
| 2018-11-01 | 83 days | 1,745 sqft |
| 2018-12-01 | 85 days | 1,759 sqft |
| 2019-01-01 | 85 days | 1,765 sqft |
| 2019-02-01 | 77 days | 1,798 sqft |
| 2019-03-01 | 65 days | 1,775 sqft |
| 2019-04-01 | 54 days | 1,790 sqft |
| 2019-05-01 | 55 days | 1,819 sqft |
| 2019-06-01 | 61 days | 1,840 sqft |
| 2019-07-01 | 70 days | 1,856 sqft |
| 2019-08-01 | 72 days | 1,837 sqft |
| 2019-09-01 | 73 days | 1,817 sqft |
| 2019-10-01 | 74 days | 1,824 sqft |
| 2019-11-01 | 82 days | 1,825 sqft |
| 2019-12-01 | 86 days | 1,798 sqft |
| 2020-01-01 | 85 days | 1,804 sqft |
| 2020-02-01 | 68 days | 1,790 sqft |
| 2020-03-01 | 51 days | 1,803 sqft |
| 2020-04-01 | 58 days | 1,813 sqft |
| 2020-05-01 | 72 days | 1,835 sqft |
| 2020-06-01 | 87 days | 1,827 sqft |
| 2020-07-01 | 60 days | 1,779 sqft |
| 2020-08-01 | 65 days | 1,712 sqft |
| 2020-09-01 | 75 days | 1,700 sqft |
| 2020-10-01 | 78 days | 1,700 sqft |
| 2020-11-01 | 69 days | 1,669 sqft |
| 2020-12-01 | 74 days | 1,640 sqft |
| 2021-01-01 | 78 days | 1,663 sqft |
| 2021-02-01 | 67 days | 1,620 sqft |
| 2021-03-01 | 45 days | 1,624 sqft |
| 2021-04-01 | 40 days | 1,685 sqft |
| 2021-05-01 | 36 days | 1,685 sqft |
| 2021-06-01 | 38 days | 1,653 sqft |
| 2021-07-01 | 42 days | 1,658 sqft |
| 2021-08-01 | 43 days | 1,663 sqft |
| 2021-09-01 | 46 days | 1,631 sqft |
| 2021-10-01 | 55 days | 1,662 sqft |
| 2021-11-01 | 59 days | 1,657 sqft |
| 2021-12-01 | 72 days | 1,611 sqft |
| 2022-01-01 | 65 days | 1,608 sqft |
| 2022-02-01 | 38 days | 1,602 sqft |
| 2022-03-01 | 38 days | 1,657 sqft |
| 2022-04-01 | 38 days | 1,734 sqft |
| 2022-05-01 | 33 days | 1,771 sqft |
| 2022-06-01 | 35 days | 1,803 sqft |
| 2022-07-01 | 39 days | 1,773 sqft |
| 2022-08-01 | 51 days | 1,736 sqft |
| 2022-09-01 | 54 days | 1,744 sqft |
| 2022-10-01 | 59 days | 1,711 sqft |
| 2022-11-01 | 66 days | 1,702 sqft |
| 2022-12-01 | 71 days | 1,707 sqft |
| 2023-01-01 | 71 days | 1,708 sqft |
| 2023-02-01 | 65 days | 1,730 sqft |
| 2023-03-01 | 49 days | 1,722 sqft |
| 2023-04-01 | 45 days | 1,750 sqft |
| 2023-05-01 | 48 days | 1,774 sqft |
| 2023-06-01 | 45 days | 1,776 sqft |
| 2023-07-01 | 48 days | 1,774 sqft |
| 2023-08-01 | 50 days | 1,758 sqft |
| 2023-09-01 | 52 days | 1,759 sqft |
| 2023-10-01 | 55 days | 1,700 sqft |
| 2023-11-01 | 58 days | 1,664 sqft |
| 2023-12-01 | 66 days | 1,664 sqft |
| 2024-01-01 | 75 days | 1,657 sqft |
| 2024-02-01 | 69 days | 1,664 sqft |
| 2024-03-01 | 60 days | 1,647 sqft |
Gainesville's median square footage for active listings during the 2024-03-01 period was 1,647 sqft. One year prior, the average listing was 1,722 sqft.