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 4 lenders originated 4 USDA loans during 2023. The total origination value was $1,160,000, with an average USDA loan value of $290,000.
Gainesville USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Gainesville
averaged
6.58%
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 $5,100.
The average rate for the prior week (2024-04-12) was
6.43% and
one month ago for the week of 2024-03-15, the
average rate was 6.71%.
The average rate one year ago was 6.25%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.07%.
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 |
|---|---|---|---|
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 6.75% | $11,574 |
| First Option Mortgage, LLC | 1 | 6.13% | $12,996 |
| GMFS LLC | 1 | 5.63% | $10,852 |
| HOMESTAR FINANCIAL CORPORATION | 1 | 7.00% | $4,131 |
The top Gainesville USDA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with
1 USDA loans originated. Their average total fees are
$11,574, which is $1,422
lower than the next largest lender,
First Option Mortgage, LLC.
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 | $317,450 (5.8%) | $432,480 (1.0%) | 1.18 | 852 |
| 2018-02-01 | $324,825 (4.9%) | $433,052 (-0.6%) | 1.18 | 893 |
| 2018-03-01 | $335,463 (5.3%) | $440,567 (1.7%) | 1.18 | 915 |
| 2018-04-01 | $349,900 (7.7%) | $470,120 (7.7%) | 1.19 | 1,018 |
| 2018-05-01 | $349,900 (6.4%) | $447,946 (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 (8.5%) | $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 | $339,925 (4.1%) | $439,127 (3.5%) | 1.15 | 1,224 |
| 2018-11-01 | $339,975 (6.4%) | $441,847 (5.0%) | 1.15 | 1,177 |
| 2018-12-01 | $337,900 (9.0%) | $432,480 (2.4%) | 1.17 | 1,164 |
| 2019-01-01 | $338,475 (6.6%) | $442,973 (2.4%) | 1.17 | 1,089 |
| 2019-02-01 | $347,460 (7.0%) | $470,817 (8.7%) | 1.17 | 1,063 |
| 2019-03-01 | $328,471 (-2.1%) | $443,095 (0.6%) | 1.07 | 1,213 |
| 2019-04-01 | $299,900 (-14.3%) | $392,982 (-16.4%) | 0.95 | 1,478 |
| 2019-05-01 | $299,900 (-14.3%) | $395,652 (-11.7%) | 0.94 | 1,521 |
| 2019-06-01 | $289,900 (-17.9%) | $397,158 (-13.9%) | 0.91 | 1,551 |
| 2019-07-01 | $286,945 (-18.7%) | $396,743 (-12.7%) | 0.90 | 1,566 |
| 2019-08-01 | $285,527 (-19.7%) | $388,923 (-15.1%) | 0.90 | 1,554 |
| 2019-09-01 | $286,243 (-18.8%) | $380,961 (-15.9%) | 0.92 | 1,495 |
| 2019-10-01 | $305,625 (-10.1%) | $407,943 (-7.1%) | 0.99 | 1,239 |
| 2019-11-01 | $324,000 (-4.7%) | $440,447 (-0.3%) | 1.06 | 1,017 |
| 2019-12-01 | $321,680 (-4.8%) | $442,671 (2.4%) | 1.07 | 978 |
| 2020-01-01 | $318,308 (-6.0%) | $447,870 (1.1%) | 1.06 | 910 |
| 2020-02-01 | $320,758 (-7.7%) | $459,250 (-2.5%) | 1.05 | 889 |
| 2020-03-01 | $339,900 (3.5%) | $470,219 (6.1%) | 1.07 | 942 |
| 2020-04-01 | $340,215 (13.4%) | $472,622 (20.3%) | 1.07 | 978 |
| 2020-05-01 | $349,999 (16.7%) | $488,072 (23.4%) | 1.06 | 915 |
| 2020-06-01 | $352,696 (21.7%) | $494,146 (24.4%) | 1.04 | 792 |
| 2020-07-01 | $352,475 (22.8%) | $501,063 (26.3%) | 1.02 | 744 |
| 2020-08-01 | $364,950 (27.8%) | $516,058 (32.7%) | 1.05 | 656 |
| 2020-09-01 | $372,175 (30.0%) | $544,887 (43.0%) | 1.07 | 583 |
| 2020-10-01 | $361,585 (18.3%) | $524,286 (28.5%) | 1.04 | 561 |
| 2020-11-01 | $362,000 (11.7%) | $543,112 (23.3%) | 1.06 | 502 |
| 2020-12-01 | $357,759 (11.2%) | $553,336 (25.0%) | 1.06 | 443 |
| 2021-01-01 | $365,000 (14.7%) | $576,801 (28.8%) | 1.09 | 362 |
| 2021-02-01 | $398,800 (24.3%) | $615,006 (33.9%) | 1.16 | 274 |
| 2021-03-01 | $384,450 (13.1%) | $618,370 (31.5%) | 1.09 | 278 |
| 2021-04-01 | $415,000 (22.0%) | $672,535 (42.3%) | 1.12 | 265 |
| 2021-05-01 | $439,750 (25.6%) | $671,518 (37.6%) | 1.17 | 276 |
| 2021-06-01 | $419,931 (19.1%) | $693,195 (40.3%) | 1.11 | 320 |
| 2021-07-01 | $419,900 (19.1%) | $705,574 (40.8%) | 1.11 | 397 |
| 2021-08-01 | $418,000 (14.5%) | $657,572 (27.4%) | 1.11 | 432 |
| 2021-09-01 | $426,939 (14.7%) | $627,148 (15.1%) | 1.14 | 414 |
| 2021-10-01 | $449,899 (24.4%) | $630,534 (20.3%) | 1.20 | 408 |
| 2021-11-01 | $468,749 (29.5%) | $636,426 (17.2%) | 1.25 | 404 |
| 2021-12-01 | $461,725 (29.1%) | $640,574 (15.8%) | 1.25 | 358 |
| 2022-01-01 | $458,802 (25.7%) | $629,230 (9.1%) | 1.24 | 295 |
| 2022-02-01 | $459,950 (15.3%) | $614,686 (-0.1%) | 1.20 | 306 |
| 2022-03-01 | $487,032 (26.7%) | $624,394 (1.0%) | 1.22 | 318 |
| 2022-04-01 | $498,225 (20.1%) | $674,260 (0.3%) | 1.19 | 341 |
| 2022-05-01 | $498,690 (13.4%) | $664,179 (-1.1%) | 1.14 | 422 |
| 2022-06-01 | $514,549 (22.5%) | $673,073 (-2.9%) | 1.15 | 506 |
| 2022-07-01 | $501,428 (19.4%) | $657,299 (-6.8%) | 1.13 | 610 |
| 2022-08-01 | $499,450 (19.5%) | $620,483 (-5.6%) | 1.15 | 661 |
| 2022-09-01 | $493,030 (15.5%) | $609,596 (-2.8%) | 1.15 | 688 |
| 2022-10-01 | $485,000 (7.8%) | $589,735 (-6.5%) | 1.14 | 688 |
| 2022-11-01 | $476,975 (1.8%) | $569,886 (-10.5%) | 1.15 | 676 |
| 2022-12-01 | $479,780 (3.9%) | $586,395 (-8.5%) | 1.18 | 610 |
| 2023-01-01 | $480,100 (4.6%) | $590,611 (-6.1%) | 1.19 | 535 |
| 2023-02-01 | $477,450 (3.8%) | $607,458 (-1.2%) | 1.15 | 500 |
| 2023-03-01 | $473,450 (-2.8%) | $610,352 (-2.3%) | 1.12 | 501 |
| 2023-04-01 | $494,557 (-0.7%) | $680,554 (0.9%) | 1.15 | 440 |
| 2023-05-01 | $496,855 (-0.4%) | $707,194 (6.5%) | 1.13 | 442 |
| 2023-06-01 | $496,885 (-3.4%) | $699,648 (4.0%) | 1.12 | 497 |
| 2023-07-01 | $498,353 (-0.6%) | $682,100 (3.8%) | 1.13 | 501 |
| 2023-08-01 | $483,440 (-3.2%) | $683,150 (10.1%) | 1.11 | 538 |
| 2023-09-01 | $480,870 (-2.5%) | $670,964 (10.1%) | 1.12 | 530 |
| 2023-10-01 | $486,950 (0.4%) | $645,889 (9.5%) | 1.15 | 542 |
| 2023-11-01 | $486,861 (2.1%) | $649,516 (14.0%) | 1.16 | 583 |
| 2023-12-01 | $494,889 (3.2%) | $665,435 (13.5%) | 1.21 | 576 |
| 2024-01-01 | $511,495 (6.5%) | $673,403 (14.0%) | 1.25 | 528 |
| 2024-02-01 | $522,173 (9.4%) | $697,027 (14.7%) | 1.26 | 517 |
| 2024-03-01 | $539,550 (14.0%) | $712,181 (16.7%) | 1.27 | 521 |
Gainesville's median listing price comes in at 127% of the national average.
Gainesville's average listing price for 2024-03-01 was $712,181, a difference of $101,829 (16.7%) versus the prior year and $15,154 versus the prior month.
For the 2024-03-01 period, Gainesville had 521 MLS listings, a difference of 4 listings (1%) versus the prior month and 20 listings (4%) 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 | 80 days | 2,575 sqft |
| 2018-02-01 | 78 days | 2,623 sqft |
| 2018-03-01 | 60 days | 2,642 sqft |
| 2018-04-01 | 60 days | 2,662 sqft |
| 2018-05-01 | 59 days | 2,675 sqft |
| 2018-06-01 | 71 days | 2,765 sqft |
| 2018-07-01 | 77 days | 2,729 sqft |
| 2018-08-01 | 78 days | 2,782 sqft |
| 2018-09-01 | 72 days | 2,780 sqft |
| 2018-10-01 | 75 days | 2,674 sqft |
| 2018-11-01 | 79 days | 2,665 sqft |
| 2018-12-01 | 86 days | 2,637 sqft |
| 2019-01-01 | 86 days | 2,665 sqft |
| 2019-02-01 | 79 days | 2,675 sqft |
| 2019-03-01 | 76 days | 2,723 sqft |
| 2019-04-01 | 72 days | 2,722 sqft |
| 2019-05-01 | 64 days | 2,718 sqft |
| 2019-06-01 | 65 days | 2,660 sqft |
| 2019-07-01 | 74 days | 2,681 sqft |
| 2019-08-01 | 78 days | 2,681 sqft |
| 2019-09-01 | 80 days | 2,656 sqft |
| 2019-10-01 | 78 days | 2,619 sqft |
| 2019-11-01 | 78 days | 2,600 sqft |
| 2019-12-01 | 80 days | 2,600 sqft |
| 2020-01-01 | 77 days | 2,570 sqft |
| 2020-02-01 | 68 days | 2,575 sqft |
| 2020-03-01 | 56 days | 2,667 sqft |
| 2020-04-01 | 59 days | 2,670 sqft |
| 2020-05-01 | 74 days | 2,675 sqft |
| 2020-06-01 | 81 days | 2,752 sqft |
| 2020-07-01 | 67 days | 2,714 sqft |
| 2020-08-01 | 60 days | 2,747 sqft |
| 2020-09-01 | 59 days | 2,766 sqft |
| 2020-10-01 | 52 days | 2,711 sqft |
| 2020-11-01 | 55 days | 2,651 sqft |
| 2020-12-01 | 66 days | 2,673 sqft |
| 2021-01-01 | 67 days | 2,692 sqft |
| 2021-02-01 | 43 days | 2,728 sqft |
| 2021-03-01 | 38 days | 2,566 sqft |
| 2021-04-01 | 41 days | 2,846 sqft |
| 2021-05-01 | 33 days | 2,830 sqft |
| 2021-06-01 | 33 days | 2,622 sqft |
| 2021-07-01 | 31 days | 2,640 sqft |
| 2021-08-01 | 42 days | 2,604 sqft |
| 2021-09-01 | 48 days | 2,618 sqft |
| 2021-10-01 | 53 days | 2,679 sqft |
| 2021-11-01 | 51 days | 2,691 sqft |
| 2021-12-01 | 58 days | 2,550 sqft |
| 2022-01-01 | 60 days | 2,500 sqft |
| 2022-02-01 | 33 days | 2,447 sqft |
| 2022-03-01 | 36 days | 2,527 sqft |
| 2022-04-01 | 34 days | 2,620 sqft |
| 2022-05-01 | 31 days | 2,534 sqft |
| 2022-06-01 | 30 days | 2,659 sqft |
| 2022-07-01 | 35 days | 2,574 sqft |
| 2022-08-01 | 47 days | 2,535 sqft |
| 2022-09-01 | 51 days | 2,507 sqft |
| 2022-10-01 | 54 days | 2,500 sqft |
| 2022-11-01 | 65 days | 2,505 sqft |
| 2022-12-01 | 77 days | 2,528 sqft |
| 2023-01-01 | 87 days | 2,566 sqft |
| 2023-02-01 | 58 days | 2,482 sqft |
| 2023-03-01 | 44 days | 2,453 sqft |
| 2023-04-01 | 42 days | 2,506 sqft |
| 2023-05-01 | 39 days | 2,562 sqft |
| 2023-06-01 | 37 days | 2,538 sqft |
| 2023-07-01 | 44 days | 2,548 sqft |
| 2023-08-01 | 47 days | 2,523 sqft |
| 2023-09-01 | 49 days | 2,470 sqft |
| 2023-10-01 | 47 days | 2,503 sqft |
| 2023-11-01 | 51 days | 2,498 sqft |
| 2023-12-01 | 58 days | 2,470 sqft |
| 2024-01-01 | 60 days | 2,556 sqft |
| 2024-02-01 | 47 days | 2,567 sqft |
| 2024-03-01 | 45 days | 2,622 sqft |
Gainesville's median square footage for active listings during the 2024-03-01 period was 2,622 sqft. One year prior, the average listing was 2,453 sqft.