Lakeland USDA Loan Rates, Closing Costs & Stats

LAKELAND-WINTER HAVEN, 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.

Lakeland's 23 lenders originated 49 USDA loans during 2023. The total origination value was $13,575,000, with an average USDA loan value of $277,041.

Lakeland USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Lakeland averaged 6.34% for the week of 2024-05-10, compared to the national average (all USDA variants) of 6.785% for the same period.

Lakeland's average USDA mortgage closing costs are $6,577.

The average rate for the prior week (2024-05-03) was 6.53% and one month ago for the week of 2024-04-05, the average rate was 6.59%.

The average rate one year ago was 6.27%.

For refis of the same type during the week of 2024-05-10, the average rate was 6.83%.

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

Lakeland 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 Lakeland level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
HOME SOLUTION LENDERS INC. 5 5.83% $14,285
UNITED WHOLESALE MORTGAGE, LLC 5 5.79% $9,796
Plains Commerce Bank 5 5.45% $14,329
METROPLEX MORTGAGE SERVICES, INC. 3 7.33% $8,924
FBC MORTGAGE, LLC 3 5.71% $11,378
MOVEMENT MORTGAGE, LLC 3 6.71% $13,666
NEWREZ LLC 2 6.69% $6,677
THE MORTGAGE FIRM, INC. 2 5.69% $12,866
BROKER SOLUTIONS, INC. 2 5.94% $15,656
UNION HOME MORTGAGE CORP. 2 7.13% $8,703
AMCAP MORTGAGE, LTD. 1 6.25% $8,838
MID AMERICA MORTGAGE, INC. 1 7.13% $7,722
MORTGAGE FINANCIAL GROUP, INC. 1 6.88% $9,411
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.88% $11,693
Bank of England 1 6.25% $8,173
PLANET HOME LENDING, LLC 1 6.13% $14,201
South State Bank 1 5.75% $13,653
Synovus Bank 1 6.38% $8,403
CARDINAL FINANCIAL 1 5.75% $15,425
Century Mortgage Company DBA Century Lending Company 1 6.13% $10,389
GARDNER FINANCIAL SERVICES, LTD. 1 7.13% $11,930
GUILD MORTGAGE COMPANY 1 7.13% $14,357
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.88% $10,336

The top Lakeland USDA lender as defined by loan originations is HOME SOLUTION LENDERS INC., with 5 USDA loans originated. Their average total fees are $14,285, which is $4,489 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lakeland (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 $219,000 (9.6%) $258,660 (8.0%) 0.81 2,628
2018-02-01 $219,900 (7.6%) $259,706 (6.9%) 0.80 2,648
2018-03-01 $222,825 (8.8%) $263,192 (7.6%) 0.78 2,578
2018-04-01 $224,950 (7.1%) $273,636 (9.4%) 0.76 2,502
2018-05-01 $224,950 (4.7%) $275,616 (9.4%) 0.75 2,519
2018-06-01 $225,000 (3.9%) $275,270 (7.5%) 0.75 2,535
2018-07-01 $228,375 (4.8%) $278,348 (7.9%) 0.76 2,534
2018-08-01 $227,425 (3.6%) $276,628 (7.0%) 0.76 2,663
2018-09-01 $225,000 (2.5%) $272,424 (5.3%) 0.76 2,802
2018-10-01 $224,900 (2.5%) $271,559 (4.3%) 0.76 2,886
2018-11-01 $223,948 (1.6%) $268,801 (2.6%) 0.76 3,047
2018-12-01 $224,000 (2.3%) $266,583 (3.4%) 0.77 3,040
2019-01-01 $222,024 (1.4%) $261,527 (1.1%) 0.77 3,193
2019-02-01 $224,450 (2.1%) $260,067 (0.1%) 0.76 3,320
2019-03-01 $224,998 (1.0%) $267,344 (1.6%) 0.74 3,197
2019-04-01 $225,000 (0.0%) $273,390 (-0.1%) 0.71 3,034
2019-05-01 $229,450 (2.0%) $276,876 (0.5%) 0.72 2,877
2019-06-01 $229,900 (2.2%) $282,390 (2.6%) 0.72 2,808
2019-07-01 $229,553 (0.5%) $286,851 (3.1%) 0.72 2,810
2019-08-01 $229,245 (0.8%) $286,698 (3.6%) 0.73 2,933
2019-09-01 $229,614 (2.1%) $280,595 (3.0%) 0.73 3,018
2019-10-01 $229,859 (2.2%) $276,430 (1.8%) 0.74 3,070
2019-11-01 $229,000 (2.3%) $273,715 (1.8%) 0.75 3,035
2019-12-01 $229,700 (2.5%) $271,864 (2.0%) 0.77 2,977
2020-01-01 $230,056 (3.6%) $273,843 (4.7%) 0.77 2,916
2020-02-01 $234,000 (4.3%) $278,540 (7.1%) 0.77 2,810
2020-03-01 $234,900 (4.4%) $281,285 (5.2%) 0.74 2,692
2020-04-01 $234,463 (4.2%) $272,947 (-0.2%) 0.73 2,874
2020-05-01 $234,490 (2.2%) $274,454 (-0.9%) 0.71 2,723
2020-06-01 $234,950 (2.2%) $274,532 (-2.8%) 0.69 2,453
2020-07-01 $235,250 (2.5%) $275,408 (-4.0%) 0.68 2,319
2020-08-01 $239,900 (4.7%) $284,268 (-0.9%) 0.69 2,078
2020-09-01 $243,605 (6.1%) $287,781 (2.6%) 0.70 2,003
2020-10-01 $245,000 (6.6%) $286,107 (3.5%) 0.70 2,020
2020-11-01 $245,860 (7.4%) $288,862 (5.5%) 0.72 2,052
2020-12-01 $249,695 (8.7%) $290,439 (6.8%) 0.74 1,928
2021-01-01 $252,180 (9.6%) $296,770 (8.4%) 0.75 1,660
2021-02-01 $252,265 (7.8%) $301,684 (8.3%) 0.73 1,359
2021-03-01 $256,950 (9.4%) $314,013 (11.6%) 0.73 1,048
2021-04-01 $264,950 (13.0%) $326,804 (19.7%) 0.72 884
2021-05-01 $274,900 (17.2%) $347,849 (26.7%) 0.73 777
2021-06-01 $283,960 (20.9%) $363,544 (32.4%) 0.75 808
2021-07-01 $285,000 (21.2%) $355,889 (29.2%) 0.75 1,011
2021-08-01 $296,617 (23.6%) $357,204 (25.7%) 0.79 1,083
2021-09-01 $307,500 (26.2%) $372,904 (29.6%) 0.82 1,096
2021-10-01 $319,900 (30.6%) $379,838 (32.8%) 0.85 1,127
2021-11-01 $317,013 (28.9%) $380,058 (31.6%) 0.85 1,106
2021-12-01 $327,450 (31.1%) $394,418 (35.8%) 0.89 1,044
2022-01-01 $325,000 (28.9%) $401,222 (35.2%) 0.88 939
2022-02-01 $331,033 (31.2%) $410,887 (36.2%) 0.86 859
2022-03-01 $342,900 (33.5%) $415,868 (32.4%) 0.86 888
2022-04-01 $350,000 (32.1%) $430,510 (31.7%) 0.83 933
2022-05-01 $364,765 (32.7%) $430,146 (23.7%) 0.83 1,267
2022-06-01 $370,030 (30.3%) $429,737 (18.2%) 0.82 1,594
2022-07-01 $365,000 (28.1%) $414,408 (16.4%) 0.82 2,178
2022-08-01 $364,000 (22.7%) $414,283 (16.0%) 0.84 2,565
2022-09-01 $359,999 (17.1%) $409,778 (9.9%) 0.84 2,743
2022-10-01 $359,900 (12.5%) $408,043 (7.4%) 0.85 2,816
2022-11-01 $351,125 (10.8%) $400,055 (5.3%) 0.84 3,101
2022-12-01 $349,900 (6.9%) $397,010 (0.7%) 0.86 3,071
2023-01-01 $349,000 (7.4%) $400,193 (-0.3%) 0.86 2,994
2023-02-01 $349,000 (5.4%) $400,838 (-2.5%) 0.84 2,897
2023-03-01 $349,950 (2.1%) $408,401 (-1.8%) 0.83 2,725
2023-04-01 $349,495 (-0.1%) $403,789 (-6.2%) 0.81 2,680
2023-05-01 $350,000 (-4.1%) $415,882 (-3.3%) 0.79 2,633
2023-06-01 $353,700 (-4.4%) $420,839 (-2.1%) 0.79 2,571
2023-07-01 $358,000 (-1.9%) $423,952 (2.3%) 0.81 2,561
2023-08-01 $359,495 (-1.2%) $426,306 (2.9%) 0.83 2,765
2023-09-01 $358,793 (-0.3%) $415,459 (1.4%) 0.84 3,010
2023-10-01 $355,000 (-1.4%) $416,330 (2.0%) 0.84 3,307
2023-11-01 $355,000 (1.1%) $421,488 (5.4%) 0.85 3,481
2023-12-01 $350,000 (0.0%) $419,754 (5.7%) 0.85 3,582
2024-01-01 $350,000 (0.3%) $418,243 (4.5%) 0.85 3,554
2024-02-01 $350,000 (0.3%) $414,251 (3.4%) 0.84 3,746
2024-03-01 $349,950 (0.0%) $409,691 (0.3%) 0.82 3,922
2024-04-01 $349,000 (-0.1%) $405,803 (0.5%) 0.81 4,028
Lakeland's median listing price for 2024-04-01 was $349,000, a difference of $-495 (-0.1%) versus the prior year and $-950 versus the prior month.

Lakeland's median listing price comes in at 81% of the national average.

Lakeland's average listing price for 2024-04-01 was $405,803, a difference of $2,014 (0.5%) versus the prior year and $-3,888 versus the prior month.

For the 2024-04-01 period, Lakeland had 4,028 MLS listings, a difference of 106 listings (3%) versus the prior month and 1,348 listings (50%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lakeland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 68 days 1,884 sqft
2018-02-01 65 days 1,880 sqft
2018-03-01 58 days 1,882 sqft
2018-04-01 58 days 1,918 sqft
2018-05-01 58 days 1,911 sqft
2018-06-01 57 days 1,911 sqft
2018-07-01 58 days 1,918 sqft
2018-08-01 54 days 1,919 sqft
2018-09-01 55 days 1,883 sqft
2018-10-01 60 days 1,862 sqft
2018-11-01 59 days 1,859 sqft
2018-12-01 65 days 1,855 sqft
2019-01-01 68 days 1,848 sqft
2019-02-01 59 days 1,836 sqft
2019-03-01 56 days 1,847 sqft
2019-04-01 60 days 1,847 sqft
2019-05-01 63 days 1,854 sqft
2019-06-01 64 days 1,877 sqft
2019-07-01 61 days 1,856 sqft
2019-08-01 61 days 1,845 sqft
2019-09-01 62 days 1,836 sqft
2019-10-01 63 days 1,829 sqft
2019-11-01 60 days 1,828 sqft
2019-12-01 67 days 1,828 sqft
2020-01-01 69 days 1,828 sqft
2020-02-01 67 days 1,831 sqft
2020-03-01 57 days 1,836 sqft
2020-04-01 57 days 1,828 sqft
2020-05-01 68 days 1,828 sqft
2020-06-01 75 days 1,828 sqft
2020-07-01 64 days 1,818 sqft
2020-08-01 57 days 1,821 sqft
2020-09-01 53 days 1,814 sqft
2020-10-01 51 days 1,787 sqft
2020-11-01 49 days 1,803 sqft
2020-12-01 54 days 1,816 sqft
2021-01-01 61 days 1,813 sqft
2021-02-01 54 days 1,776 sqft
2021-03-01 44 days 1,806 sqft
2021-04-01 40 days 1,806 sqft
2021-05-01 38 days 1,798 sqft
2021-06-01 34 days 1,807 sqft
2021-07-01 33 days 1,798 sqft
2021-08-01 36 days 1,810 sqft
2021-09-01 37 days 1,807 sqft
2021-10-01 36 days 1,825 sqft
2021-11-01 38 days 1,802 sqft
2021-12-01 51 days 1,819 sqft
2022-01-01 43 days 1,814 sqft
2022-02-01 33 days 1,800 sqft
2022-03-01 32 days 1,777 sqft
2022-04-01 31 days 1,798 sqft
2022-05-01 28 days 1,821 sqft
2022-06-01 30 days 1,826 sqft
2022-07-01 33 days 1,820 sqft
2022-08-01 37 days 1,823 sqft
2022-09-01 44 days 1,827 sqft
2022-10-01 55 days 1,828 sqft
2022-11-01 61 days 1,820 sqft
2022-12-01 67 days 1,824 sqft
2023-01-01 71 days 1,824 sqft
2023-02-01 67 days 1,828 sqft
2023-03-01 56 days 1,831 sqft
2023-04-01 58 days 1,819 sqft
2023-05-01 54 days 1,828 sqft
2023-06-01 55 days 1,838 sqft
2023-07-01 54 days 1,851 sqft
2023-08-01 51 days 1,851 sqft
2023-09-01 53 days 1,837 sqft
2023-10-01 54 days 1,834 sqft
2023-11-01 57 days 1,829 sqft
2023-12-01 64 days 1,820 sqft
2024-01-01 73 days 1,819 sqft
2024-02-01 70 days 1,823 sqft
2024-03-01 59 days 1,818 sqft
2024-04-01 60 days 1,809 sqft
Lakeland's median listing age (time on market) for 2024-04-01 was 60 days. This is 3% longer than the same period one year ago.

Lakeland's median square footage for active listings during the 2024-04-01 period was 1,809 sqft. One year prior, the average listing was 1,819 sqft.