Lake City USDA Loan Rates, Closing Costs & Stats

Lake City, FL

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    • 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.

    Lake City's 6 lenders originated 7 USDA loans during 2023. The total origination value was $1,545,000, with an average USDA loan value of $220,714.

    Lake City USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Lake City averaged -0.13% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Lake City's average USDA mortgage closing costs are $5,874.

    The average rate for the prior week (2024-11-08) was 6.23% and one month ago for the week of 2024-10-11, the average rate was 5.89%.

    The average rate one year ago was 7.42%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Lake City 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 Lake City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 2 6.12% $7,247
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $9,943
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.88% $12,727
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $11,236
    First Federal Bank 1 6.13% $11,143
    Seacoast National Bank 1 6.00% $4,549

    The top Lake City USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 2 USDA loans originated. Their average total fees are $7,247, which is $2,696 lower than the next largest lender, AMERICAN FINANCIAL NETWORK, INC..

    The lowest fee Lake City USDA lenders (with over 10 loans originated) are .

    The lowest rate Lake City USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lake City (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 $209,225 (16.7%) $245,276 (11.8%) 0.00 228
    2018-02-01 $199,923 (11.1%) $236,901 (8.7%) 0.00 225
    2018-03-01 $202,450 (9.5%) $241,887 (9.5%) 0.00 226
    2018-04-01 $205,300 (8.1%) $252,286 (12.8%) 0.00 205
    2018-05-01 $199,675 (1.0%) $257,380 (12.5%) 0.00 203
    2018-06-01 $202,750 (6.0%) $270,349 (21.0%) 0.00 200
    2018-07-01 $200,675 (5.7%) $271,372 (23.4%) 0.00 193
    2018-08-01 $208,850 (7.1%) $263,909 (20.1%) 0.00 199
    2018-09-01 $215,000 (10.3%) $248,783 (11.4%) 0.00 211
    2018-10-01 $212,450 (9.0%) $254,753 (12.3%) 0.00 200
    2018-11-01 $212,500 (6.8%) $253,211 (9.0%) 0.00 218
    2018-12-01 $209,700 (2.3%) $253,459 (6.7%) 0.00 218
    2019-01-01 $202,200 (-3.4%) $256,258 (4.5%) 0.00 211
    2019-02-01 $204,450 (2.3%) $259,270 (9.4%) 0.00 212
    2019-03-01 $211,857 (4.7%) $262,026 (8.3%) 0.00 202
    2019-04-01 $215,000 (4.7%) $260,758 (3.4%) 0.00 198
    2019-05-01 $220,450 (10.4%) $273,340 (6.2%) 0.00 196
    2019-06-01 $224,900 (10.9%) $282,721 (4.6%) 0.00 184
    2019-07-01 $228,200 (13.7%) $283,619 (4.5%) 0.00 176
    2019-08-01 $229,900 (10.1%) $281,001 (6.5%) 0.00 181
    2019-09-01 $227,650 (5.9%) $277,119 (11.4%) 0.00 186
    2019-10-01 $228,150 (7.4%) $275,673 (8.2%) 0.00 185
    2019-11-01 $227,400 (7.0%) $275,716 (8.9%) 0.00 158
    2019-12-01 $236,900 (13.0%) $271,584 (7.2%) 0.00 143
    2020-01-01 $227,400 (12.5%) $263,759 (2.9%) 0.00 137
    2020-02-01 $222,500 (8.8%) $264,759 (2.1%) 0.00 151
    2020-03-01 $219,450 (3.6%) $250,191 (-4.5%) 0.00 158
    2020-04-01 $228,975 (6.5%) $257,860 (-1.1%) 0.00 146
    2020-05-01 $239,650 (8.7%) $267,072 (-2.3%) 0.00 143
    2020-06-01 $244,300 (8.6%) $276,865 (-2.1%) 0.00 136
    2020-07-01 $246,250 (7.9%) $292,044 (3.0%) 0.00 122
    2020-08-01 $245,900 (7.0%) $296,504 (5.5%) 0.00 120
    2020-09-01 $242,475 (6.5%) $286,649 (3.4%) 0.00 106
    2020-10-01 $260,000 (14.0%) $304,659 (10.5%) 0.00 108
    2020-11-01 $254,925 (12.1%) $300,856 (9.1%) 0.00 104
    2020-12-01 $258,225 (9.0%) $308,880 (13.7%) 0.00 99
    2021-01-01 $255,000 (12.1%) $294,546 (11.7%) 0.00 91
    2021-02-01 $264,925 (19.1%) $288,321 (8.9%) 0.00 81
    2021-03-01 $272,450 (24.2%) $306,573 (22.5%) 0.00 75
    2021-04-01 $274,925 (20.1%) $324,552 (25.9%) 0.00 68
    2021-05-01 $299,900 (25.1%) $349,189 (30.8%) 0.00 83
    2021-06-01 $298,963 (22.4%) $340,251 (22.9%) 0.00 93
    2021-07-01 $281,500 (14.3%) $326,110 (11.7%) 0.00 108
    2021-08-01 $282,081 (14.7%) $310,957 (4.9%) 0.00 110
    2021-09-01 $287,000 (18.4%) $321,561 (12.2%) 0.00 114
    2021-10-01 $284,500 (9.4%) $366,534 (20.3%) 0.00 109
    2021-11-01 $274,950 (7.9%) $363,434 (20.8%) 0.00 118
    2021-12-01 $272,450 (5.5%) $378,754 (22.6%) 0.00 112
    2022-01-01 $267,000 (4.7%) $402,356 (36.6%) 0.00 94
    2022-02-01 $289,225 (9.2%) $364,310 (26.4%) 0.00 79
    2022-03-01 $299,900 (10.1%) $369,842 (20.6%) 0.00 87
    2022-04-01 $290,445 (5.7%) $363,788 (12.1%) 0.00 96
    2022-05-01 $298,868 (-0.3%) $370,219 (6.0%) 0.00 112
    2022-06-01 $299,945 (0.3%) $370,678 (8.9%) 0.00 126
    2022-07-01 $315,000 (11.9%) $383,066 (17.5%) 0.00 148
    2022-08-01 $323,625 (14.7%) $385,472 (24.0%) 0.00 146
    2022-09-01 $330,975 (15.3%) $394,581 (22.7%) 0.00 154
    2022-10-01 $339,450 (19.3%) $385,544 (5.2%) 0.00 164
    2022-11-01 $325,975 (18.6%) $368,858 (1.5%) 0.00 165
    2022-12-01 $329,000 (20.8%) $366,548 (-3.2%) 0.00 176
    2023-01-01 $315,000 (18.0%) $366,752 (-8.9%) 0.00 156
    2023-02-01 $330,875 (14.4%) $376,103 (3.2%) 0.00 142
    2023-03-01 $333,813 (11.3%) $372,500 (0.7%) 0.00 140
    2023-04-01 $333,225 (14.7%) $385,380 (5.9%) 0.00 147
    2023-05-01 $339,450 (13.6%) $392,789 (6.1%) 0.00 137
    2023-06-01 $339,700 (13.3%) $390,671 (5.4%) 0.00 156
    2023-07-01 $371,950 (18.1%) $411,073 (7.3%) 0.00 156
    2023-08-01 $371,350 (14.8%) $428,261 (11.1%) 0.00 165
    2023-09-01 $369,925 (11.8%) $427,465 (8.3%) 0.00 166
    2023-10-01 $362,000 (6.6%) $417,389 (8.3%) 0.00 177
    2023-11-01 $345,338 (5.9%) $407,571 (10.5%) 0.00 192
    2023-12-01 $349,900 (6.4%) $412,161 (12.4%) 0.00 172
    2024-01-01 $351,975 (11.7%) $405,680 (10.6%) 0.00 162
    2024-02-01 $352,000 (6.4%) $407,471 (8.3%) 0.00 164
    2024-03-01 $375,000 (12.3%) $418,821 (12.4%) 0.00 159
    2024-04-01 $357,800 (7.4%) $436,544 (13.3%) 0.00 174
    2024-05-01 $367,925 (8.4%) $447,924 (14.0%) 0.00 172
    2024-06-01 $354,500 (4.4%) $434,271 (11.2%) 0.00 187
    2024-07-01 $332,500 (-10.6%) $420,185 (2.2%) 0.00 194
    2024-08-01 $350,000 (-5.8%) $428,896 (0.2%) 0.00 193
    2024-09-01 $349,950 (-5.4%) $416,419 (-2.6%) 0.00 189
    2024-10-01 $335,500 (-7.3%) $399,757 (-4.2%) 0.00 187
    Lake City's median listing price for 2024-10-01 was $335,500, a difference of $-26,500 (-7.3%) versus the prior year and $-14,450 versus the prior month.

    Lake City's median listing price comes in at 0% of the national average.

    Lake City's average listing price for 2024-10-01 was $399,757, a difference of $-17,632 (-4.2%) versus the prior year and $-16,662 versus the prior month.

    For the 2024-10-01 period, Lake City had 187 MLS listings, a difference of -2 listings (-1%) versus the prior month and 10 listings (6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lake City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,919 sqft
    2018-02-01 0 days 1,899 sqft
    2018-03-01 0 days 1,931 sqft
    2018-04-01 0 days 1,913 sqft
    2018-05-01 0 days 1,885 sqft
    2018-06-01 0 days 1,918 sqft
    2018-07-01 0 days 1,899 sqft
    2018-08-01 0 days 1,993 sqft
    2018-09-01 0 days 1,863 sqft
    2018-10-01 0 days 1,871 sqft
    2018-11-01 0 days 1,909 sqft
    2018-12-01 0 days 1,902 sqft
    2019-01-01 0 days 1,899 sqft
    2019-02-01 0 days 1,896 sqft
    2019-03-01 0 days 1,907 sqft
    2019-04-01 0 days 1,946 sqft
    2019-05-01 0 days 2,053 sqft
    2019-06-01 0 days 2,080 sqft
    2019-07-01 0 days 2,110 sqft
    2019-08-01 0 days 2,077 sqft
    2019-09-01 0 days 2,007 sqft
    2019-10-01 0 days 1,960 sqft
    2019-11-01 0 days 1,956 sqft
    2019-12-01 0 days 2,002 sqft
    2020-01-01 0 days 1,880 sqft
    2020-02-01 0 days 1,894 sqft
    2020-03-01 0 days 1,852 sqft
    2020-04-01 0 days 1,875 sqft
    2020-05-01 0 days 1,862 sqft
    2020-06-01 0 days 1,899 sqft
    2020-07-01 0 days 1,906 sqft
    2020-08-01 0 days 1,931 sqft
    2020-09-01 0 days 1,911 sqft
    2020-10-01 0 days 1,914 sqft
    2020-11-01 0 days 1,907 sqft
    2020-12-01 0 days 1,920 sqft
    2021-01-01 0 days 1,832 sqft
    2021-02-01 0 days 1,799 sqft
    2021-03-01 0 days 1,810 sqft
    2021-04-01 0 days 1,787 sqft
    2021-05-01 0 days 2,048 sqft
    2021-06-01 0 days 1,949 sqft
    2021-07-01 0 days 1,812 sqft
    2021-08-01 0 days 1,805 sqft
    2021-09-01 0 days 1,804 sqft
    2021-10-01 0 days 1,784 sqft
    2021-11-01 0 days 1,801 sqft
    2021-12-01 0 days 1,854 sqft
    2022-01-01 0 days 1,806 sqft
    2022-02-01 0 days 1,848 sqft
    2022-03-01 0 days 1,869 sqft
    2022-04-01 0 days 1,807 sqft
    2022-05-01 0 days 1,776 sqft
    2022-06-01 0 days 1,798 sqft
    2022-07-01 0 days 1,818 sqft
    2022-08-01 0 days 1,842 sqft
    2022-09-01 0 days 1,897 sqft
    2022-10-01 0 days 1,825 sqft
    2022-11-01 0 days 1,760 sqft
    2022-12-01 0 days 1,820 sqft
    2023-01-01 0 days 1,755 sqft
    2023-02-01 0 days 1,810 sqft
    2023-03-01 0 days 1,778 sqft
    2023-04-01 0 days 1,776 sqft
    2023-05-01 0 days 1,776 sqft
    2023-06-01 0 days 1,774 sqft
    2023-07-01 0 days 1,830 sqft
    2023-08-01 0 days 1,823 sqft
    2023-09-01 0 days 1,819 sqft
    2023-10-01 0 days 1,838 sqft
    2023-11-01 0 days 1,816 sqft
    2023-12-01 0 days 1,802 sqft
    2024-01-01 0 days 1,918 sqft
    2024-02-01 0 days 1,822 sqft
    2024-03-01 0 days 1,843 sqft
    2024-04-01 0 days 1,849 sqft
    2024-05-01 0 days 1,858 sqft
    2024-06-01 0 days 1,857 sqft
    2024-07-01 0 days 1,796 sqft
    2024-08-01 0 days 1,804 sqft
    2024-09-01 0 days 1,778 sqft
    2024-10-01 0 days 1,788 sqft
    Lake City's median listing age (time on market) for 2024-10-01 was 0 days.

    Lake City's median square footage for active listings during the 2024-10-01 period was 1,788 sqft. One year prior, the average listing was 1,838 sqft.