Gainesville USDA Loan Rates, Closing Costs & Stats

GAINESVILLE, GA

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 18 lenders originated 37 USDA loans during 2021. The total origination value was $8,925,000, with an average USDA loan value of $241,216.

Gainesville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Gainesville averaged 6.66% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Gainesville's average USDA mortgage closing costs are $4,927.

The average rate for the prior week (2022-11-25) was 6.39% and one month ago for the week of 2022-10-28, the average rate was 6.87%.

The average rate one year ago was 3.26%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.34%.

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/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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
HOMESTAR FINANCIAL CORPORATION 15 2.96% $5,368
HOMEOWNERS FINANCIAL GROUP USA, LLC 4 3.25% $6,128
PENNYMAC LOAN SERVICES, LLC 2 2.81% $6,962
DAS Acquisition Company, LLC 1 2.88% $5,968
EVERETT FINANCIAL, INC. 1 3.38% $6,129
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.25% $5,265
First Horizon Bank 1 2.38% $5,330
GENEVA FINANCIAL, LLC 1 3.38% $7,618
GUARANTY HOME MORTGAGE CORPORATION 1 3.25% $4,733
HOMESPIRE MORTGAGE CORPORATION 1 2.88% $7,531
MORTGAGE INVESTORS GROUP, INC. 1 2.50% $5,915
Paramount Residential Mortgage Group, Inc. 1 2.25% $5,394
South State Bank 1 2.50% $3,005
SUCCESS MORTGAGE PARTNERS, INC. 1 2.75% $4,376
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 3.38% $6,059
THE MORTGAGE FIRM, INC. 1 3.38% $6,362
CALIBER HOME LOANS, INC. 1 2.25% $4,459
Colten Mortgage, LLC 1 2.88% $4,435

The top Gainesville USDA lender as defined by loan originations is HOMESTAR FINANCIAL CORPORATION, with 15 USDA loans originated. Their average total fees are $5,368, which is $760 lower than the next largest lender, HOMEOWNERS FINANCIAL GROUP USA, LLC.

The lowest fee Gainesville USDA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($5,368), .

The lowest rate Gainesville USDA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION (2.96%), .


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 $317,450 (5.8%) $432,481 (1.0%) 1.18 851
2018-02-01 $324,850 (4.9%) $433,052 (-0.6%) 1.18 892
2018-03-01 $335,463 (5.3%) $440,567 (1.7%) 1.18 914
2018-04-01 $349,900 (7.7%) $470,120 (7.7%) 1.19 1,018
2018-05-01 $349,900 (6.4%) $447,901 (1.8%) 1.17 1,071
2018-06-01 $352,950 (7.0%) $461,402 (7.7%) 1.18 1,072
2018-07-01 $352,746 (8.4%) $454,211 (6.5%) 1.18 1,076
2018-08-01 $355,450 (9.3%) $457,845 (6.7%) 1.19 1,066
2018-09-01 $352,463 (8.5%) $453,005 (6.7%) 1.18 1,075
2018-10-01 $339,950 (4.1%) $439,539 (3.6%) 1.15 1,221
2018-11-01 $340,000 (6.5%) $442,310 (5.1%) 1.15 1,174
2018-12-01 $337,950 (9.1%) $433,242 (2.6%) 1.17 1,161
2019-01-01 $338,750 (6.7%) $443,786 (2.6%) 1.17 1,087
2019-02-01 $347,460 (7.0%) $470,817 (8.7%) 1.17 1,063
2019-03-01 $328,471 (-2.1%) $442,934 (0.5%) 1.07 1,213
2019-04-01 $299,900 (-14.3%) $392,764 (-16.5%) 0.95 1,477
2019-05-01 $299,900 (-14.3%) $395,187 (-11.8%) 0.94 1,520
2019-06-01 $289,700 (-17.9%) $396,645 (-14.0%) 0.91 1,550
2019-07-01 $286,407 (-18.8%) $396,228 (-12.8%) 0.90 1,564
2019-08-01 $285,465 (-19.7%) $388,362 (-15.2%) 0.90 1,551
2019-09-01 $286,163 (-18.8%) $380,368 (-16.0%) 0.92 1,492
2019-10-01 $305,217 (-10.2%) $406,857 (-7.4%) 0.98 1,237
2019-11-01 $322,980 (-5.0%) $438,894 (-0.8%) 1.06 1,017
2019-12-01 $321,265 (-4.9%) $441,233 (1.8%) 1.07 976
2020-01-01 $318,000 (-6.1%) $447,464 (0.8%) 1.06 911
2020-02-01 $320,315 (-7.8%) $458,841 (-2.5%) 1.05 888
2020-03-01 $339,900 (3.5%) $469,804 (6.1%) 1.06 943
2020-04-01 $339,870 (13.3%) $472,234 (20.2%) 1.06 979
2020-05-01 $349,900 (16.7%) $487,471 (23.4%) 1.06 917
2020-06-01 $352,523 (21.7%) $493,659 (24.5%) 1.04 793
2020-07-01 $352,113 (22.9%) $500,697 (26.4%) 1.02 744
2020-08-01 $364,950 (27.8%) $515,671 (32.8%) 1.05 655
2020-09-01 $370,750 (29.6%) $544,144 (43.1%) 1.06 584
2020-10-01 $360,545 (18.1%) $523,591 (28.7%) 1.03 562
2020-11-01 $361,167 (11.8%) $542,274 (23.6%) 1.05 501
2020-12-01 $357,629 (11.3%) $552,322 (25.2%) 1.06 443
2021-01-01 $365,000 (14.8%) $576,142 (28.8%) 1.09 363
2021-02-01 $399,700 (24.8%) $614,235 (33.9%) 1.16 276
2021-03-01 $385,495 (13.4%) $615,356 (31.0%) 1.09 282
2021-04-01 $409,450 (20.5%) $669,895 (41.9%) 1.11 266
2021-05-01 $439,625 (25.6%) $668,230 (37.1%) 1.16 278
2021-06-01 $419,931 (19.1%) $689,694 (39.7%) 1.11 322
2021-07-01 $419,450 (19.1%) $706,088 (41.0%) 1.10 398
2021-08-01 $416,000 (14.0%) $657,493 (27.5%) 1.11 432
2021-09-01 $425,969 (14.9%) $626,967 (15.2%) 1.14 414
2021-10-01 $449,899 (24.8%) $631,364 (20.6%) 1.20 409
2021-11-01 $468,749 (29.8%) $636,846 (17.4%) 1.25 406
2021-12-01 $461,725 (29.1%) $640,846 (16.0%) 1.25 360
2022-01-01 $458,651 (25.7%) $627,550 (8.9%) 1.24 296
2022-02-01 $459,925 (15.1%) $613,069 (-0.2%) 1.20 307
2022-03-01 $486,993 (26.3%) $622,532 (1.2%) 1.22 320
2022-04-01 $499,000 (21.9%) $672,856 (0.4%) 1.19 345
2022-05-01 $499,083 (13.5%) $663,090 (-0.8%) 1.14 425
2022-06-01 $517,049 (23.1%) $672,709 (-2.5%) 1.15 509
2022-07-01 $501,915 (19.7%) $656,038 (-7.1%) 1.14 615
2022-08-01 $499,675 (20.1%) $619,863 (-5.7%) 1.15 666
2022-09-01 $493,384 (15.8%) $609,138 (-2.8%) 1.15 689
2022-10-01 $476,670 (6.0%) $589,550 (-6.6%) 1.12 689
2022-11-01 $476,975 (1.8%) $569,465 (-10.6%) 1.15 678
Gainesville's median listing price for 2022-11-01 was $476,975, a difference of $8,226 (1.8%) versus the prior year and $305 versus the prior month.

Gainesville's median listing price comes in at 115% of the national average.

Gainesville's average listing price for 2022-11-01 was $569,465, a difference of $-67,381 (-10.6%) versus the prior year and $-20,085 versus the prior month.

For the 2022-11-01 period, Gainesville had 678 MLS listings, a difference of -11 listings (-2%) versus the prior month and 272 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 81 days 2,566 sqft
2018-02-01 82 days 2,613 sqft
2018-03-01 64 days 2,629 sqft
2018-04-01 62 days 2,655 sqft
2018-05-01 61 days 2,673 sqft
2018-06-01 73 days 2,738 sqft
2018-07-01 80 days 2,712 sqft
2018-08-01 85 days 2,757 sqft
2018-09-01 78 days 2,760 sqft
2018-10-01 84 days 2,671 sqft
2018-11-01 87 days 2,653 sqft
2018-12-01 95 days 2,625 sqft
2019-01-01 95 days 2,649 sqft
2019-02-01 87 days 2,681 sqft
2019-03-01 88 days 2,728 sqft
2019-04-01 92 days 2,706 sqft
2019-05-01 85 days 2,706 sqft
2019-06-01 84 days 2,626 sqft
2019-07-01 87 days 2,670 sqft
2019-08-01 89 days 2,675 sqft
2019-09-01 92 days 2,650 sqft
2019-10-01 87 days 2,615 sqft
2019-11-01 82 days 2,600 sqft
2019-12-01 83 days 2,599 sqft
2020-01-01 80 days 2,561 sqft
2020-02-01 74 days 2,571 sqft
2020-03-01 58 days 2,660 sqft
2020-04-01 62 days 2,664 sqft
2020-05-01 75 days 2,668 sqft
2020-06-01 85 days 2,742 sqft
2020-07-01 74 days 2,709 sqft
2020-08-01 66 days 2,746 sqft
2020-09-01 64 days 2,767 sqft
2020-10-01 54 days 2,703 sqft
2020-11-01 60 days 2,650 sqft
2020-12-01 70 days 2,684 sqft
2021-01-01 71 days 2,721 sqft
2021-02-01 48 days 2,726 sqft
2021-03-01 38 days 2,560 sqft
2021-04-01 42 days 2,813 sqft
2021-05-01 34 days 2,822 sqft
2021-06-01 33 days 2,610 sqft
2021-07-01 33 days 2,641 sqft
2021-08-01 43 days 2,605 sqft
2021-09-01 49 days 2,620 sqft
2021-10-01 54 days 2,660 sqft
2021-11-01 52 days 2,671 sqft
2021-12-01 59 days 2,563 sqft
2022-01-01 60 days 2,500 sqft
2022-02-01 34 days 2,450 sqft
2022-03-01 36 days 2,524 sqft
2022-04-01 34 days 2,642 sqft
2022-05-01 32 days 2,543 sqft
2022-06-01 31 days 2,659 sqft
2022-07-01 36 days 2,610 sqft
2022-08-01 47 days 2,537 sqft
2022-09-01 51 days 2,506 sqft
2022-10-01 56 days 2,499 sqft
2022-11-01 66 days 2,499 sqft
Gainesville's median listing age (time on market) for 2022-11-01 was 66 days. This is 27% longer than the same period one year ago.

Gainesville's median square footage for active listings during the 2022-11-01 period was 2,499 sqft. One year prior, the average listing was 2,671 sqft.