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 6.52% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Gainesville's average USDA mortgage closing costs are $5,100.

The average rate for the prior week (2024-04-05) was 6.54% and one month ago for the week of 2024-03-08, the average rate was 6.6%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.01%.

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
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 for 2024-03-01 was $539,550, a difference of $66,100 (14.0%) versus the prior year and $17,377 versus the prior month.

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 listing age (time on market) for 2024-03-01 was 45 days. This is 2% longer than the same period one year ago.

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.