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 6.5% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Gainesville's average USDA mortgage closing costs are $6,137.

The average rate for the prior week (2024-05-31) was 6.78% and one month ago for the week of 2024-05-03, the average rate was 6.97%.

The average rate one year ago was 6.77%.

For refis of the same type during the week of 2024-06-07, the average rate was 7.03%.

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 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
2024-04-01 $349,500 (-5.5%) $431,875 (-9.4%) 0.81 1,103
2024-05-01 $362,300 (-8.5%) $444,474 (-11.2%) 0.82 1,106
Gainesville's median listing price for 2024-05-01 was $362,300, a difference of $-33,700 (-8.5%) versus the prior year and $12,800 versus the prior month.

Gainesville's median listing price comes in at 82% of the national average.

Gainesville's average listing price for 2024-05-01 was $444,474, a difference of $-56,141 (-11.2%) versus the prior year and $12,599 versus the prior month.

For the 2024-05-01 period, Gainesville had 1,106 MLS listings, a difference of 3 listings (0%) versus the prior month and 491 listings (80%) 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
2024-04-01 57 days 1,626 sqft
2024-05-01 58 days 1,665 sqft
Gainesville's median listing age (time on market) for 2024-05-01 was 58 days. This is 20% longer than the same period one year ago.

Gainesville's median square footage for active listings during the 2024-05-01 period was 1,665 sqft. One year prior, the average listing was 1,774 sqft.