Lake City USDA Loan Rates, Closing Costs & Stats
Lake City, 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.
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
7.04%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Lake City's average USDA mortgage closing costs are $5,874.
The average rate for the prior week (2024-04-12) was
6.49% and
one month ago for the week of 2024-03-15, the
average rate was 6.47%.
The average rate one year ago was 6.21%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.86%.
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 |
Lake City's median listing price comes in at 0% of the national average.
Lake City's average listing price for 2024-03-01 was $418,821, a difference of $46,321 (12.4%) versus the prior year and $11,350 versus the prior month.
For the 2024-03-01 period, Lake City had 159 MLS listings, a difference of -5 listings (-3%) versus the prior month and 19 listings (14%) 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 |
Lake City's median square footage for active listings during the 2024-03-01 period was 1,843 sqft. One year prior, the average listing was 1,778 sqft.