Lakeland USDA Loan Rates, Closing Costs & Stats

LAKELAND-WINTER HAVEN, 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.

    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 5.86% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.1% and one month ago for the week of 2024-11-08, the average rate was 6.01%.

    The average rate one year ago was 6.58%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.45%.

    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
    2024-05-01 $349,425 (-0.2%) $406,224 (-2.3%) 0.79 4,114
    2024-06-01 $349,900 (-1.1%) $408,774 (-2.9%) 0.79 4,295
    2024-07-01 $349,250 (-2.4%) $405,246 (-4.4%) 0.80 4,424
    2024-08-01 $345,000 (-4.0%) $401,209 (-5.9%) 0.80 4,544
    2024-09-01 $347,736 (-3.1%) $401,076 (-3.5%) 0.82 4,732
    2024-10-01 $344,947 (-2.8%) $396,905 (-4.7%) 0.81 4,825
    2024-11-01 $343,000 (-3.4%) $392,111 (-7.0%) 0.82 4,913
    Lakeland's median listing price for 2024-11-01 was $343,000, a difference of $-12,000 (-3.4%) versus the prior year and $-1,947 versus the prior month.

    Lakeland's median listing price comes in at 82% of the national average.

    Lakeland's average listing price for 2024-11-01 was $392,111, a difference of $-29,377 (-7.0%) versus the prior year and $-4,794 versus the prior month.

    For the 2024-11-01 period, Lakeland had 4,913 MLS listings, a difference of 88 listings (2%) versus the prior month and 1,432 listings (41%) 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
    2024-05-01 58 days 1,811 sqft
    2024-06-01 59 days 1,823 sqft
    2024-07-01 65 days 1,820 sqft
    2024-08-01 70 days 1,813 sqft
    2024-09-01 71 days 1,811 sqft
    2024-10-01 75 days 1,797 sqft
    2024-11-01 80 days 1,811 sqft
    Lakeland's median listing age (time on market) for 2024-11-01 was 80 days. This is 40% longer than the same period one year ago.

    Lakeland's median square footage for active listings during the 2024-11-01 period was 1,811 sqft. One year prior, the average listing was 1,829 sqft.