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 49 lenders originated 117 USDA loans during 2022. The total origination value was $30,475,000, with an average USDA loan value of $260,470.

Lakeland USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Lakeland averaged 6.54% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Lakeland's average USDA mortgage closing costs are $6,452.

The average rate for the prior week (2023-05-19) was 6.28% and one month ago for the week of 2023-04-21, the average rate was 6.29%.

The average rate one year ago was 5.01%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.19%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
CALIBER HOME LOANS, INC. 9 4.20% $10,110
HOME POINT FINANCIAL CORPORATION 9 4.37% $8,350
UNITED WHOLESALE MORTGAGE, LLC 9 4.78% $10,968
HOME SOLUTION LENDERS INC. 7 4.11% $8,702
Plains Commerce Bank 5 5.40% $11,254
GUARANTEED RATE, INC. 4 4.88% $9,019
THE MORTGAGE FIRM, INC. 4 4.78% $9,989
AMERIFIRST FINANCIAL CORPORATION 4 5.50% $13,240
VANDERBILT MORTGAGE AND FINANCE, INC. 3 4.42% $11,322
Paramount Residential Mortgage Group, Inc. 3 4.83% $9,351
EAGLE HOME MORTGAGE, LLC 3 4.13% $7,313
Hometown Lenders, Inc. 3 4.83% $10,654
STOCKTON MORTGAGE CORPORATION 3 3.83% $8,552
KBHS HOME LOANS, LLC 3 4.21% $13,297
NVR Mortgage Finance, Inc. 2 3.94% $12,315
MOVEMENT MORTGAGE, LLC 2 5.75% $10,169
METROPLEX MORTGAGE SERVICES, INC. 2 5.88% $9,082
DAS Acquisition Company, LLC 2 5.19% $8,180
SHELTER MORTGAGE COMPANY, L.L.C. 2 4.00% $8,339
PARK SQUARE HOME MORTGAGE, LLC 2 3.75% $7,759
GUARANTEED RATE AFFINITY, LLC 2 6.14% $10,783
PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.13% $11,215
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.13% $11,804
Sierra Pacific Mortgage Company, Inc. 1 5.63% $9,771
SOUTHERN TRUST MORTGAGE, LLC 1 5.63% $6,901
AMERICAN FINANCIAL RESOURCES, INC. 1 3.50% $8,680
SUCCESS MORTGAGE PARTNERS, INC. 1 3.00% $10,511
Synovus Bank 1 4.50% $12,433
South State Bank 1 4.75% $4,086
Ameris Bank 1 3.63% $2,959
Austin Capital Bank SSB 1 5.12% $13,009
BROKER SOLUTIONS, INC. 1 6.13% $8,771
Century Mortgage Company DBA Century Lending Company 1 5.25% $8,705
EMBRACE HOME LOANS, INC. 1 3.13% $6,171
ENDEAVOR CAPITAL, LLC. 1 6.00% $10,936
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $6,281
FBC MORTGAGE, LLC 1 5.75% $12,800
FIDELITY FUNDING MORTGAGE CORP. 1 4.13% $2,171
FIRST COMMUNITY MORTGAGE, INC. 1 5.50% $7,082
Flagstar Bank, FSB 1 3.63% $8,401
GSF Mortgage Corporation 1 4.63% $9,481
GUILD MORTGAGE COMPANY 1 3.50% $9,926
HOMEAMERICAN MORTGAGE CORPORATION 1 4.25% $3,665
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.75% $16,793
Hometown Equity Mortgage, LLC 1 3.38% $8,434
LOANDEPOT.COM, LLC 1 3.25% $8,748
Mortgage Lenders Investment Trading Corporation 1 4.13% $3,164
OPEN MORTGAGE, LLC 1 6.63% $7,822
PNC Bank 1 2.88% $6,270

The top Lakeland USDA lender as defined by loan originations is CALIBER HOME LOANS, INC., with 9 USDA loans originated. Their average total fees are $10,110, which is $1,760 higher than the next largest lender, HOME POINT FINANCIAL CORPORATION.

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 (9.5%) $258,826 (8.0%) 0.81 2,625
2018-02-01 $219,900 (7.6%) $259,826 (6.9%) 0.80 2,645
2018-03-01 $222,900 (8.8%) $263,409 (7.6%) 0.78 2,576
2018-04-01 $224,950 (7.1%) $273,667 (9.4%) 0.76 2,501
2018-05-01 $224,950 (4.7%) $275,646 (9.3%) 0.75 2,518
2018-06-01 $225,000 (3.7%) $275,270 (7.5%) 0.75 2,535
2018-07-01 $228,375 (4.5%) $278,348 (7.9%) 0.76 2,534
2018-08-01 $227,425 (3.6%) $276,628 (6.9%) 0.76 2,663
2018-09-01 $225,000 (2.4%) $272,410 (5.2%) 0.76 2,803
2018-10-01 $224,900 (2.5%) $271,597 (4.3%) 0.76 2,887
2018-11-01 $223,950 (1.5%) $268,839 (2.6%) 0.76 3,048
2018-12-01 $224,000 (2.3%) $266,613 (3.3%) 0.77 3,041
2019-01-01 $222,037 (1.4%) $261,550 (1.1%) 0.77 3,193
2019-02-01 $224,450 (2.1%) $260,096 (0.1%) 0.76 3,320
2019-03-01 $224,900 (0.9%) $263,100 (-0.1%) 0.75 3,233
2019-04-01 $225,000 (0.0%) $273,465 (-0.1%) 0.71 3,036
2019-05-01 $229,450 (2.0%) $276,747 (0.4%) 0.72 2,875
2019-06-01 $229,900 (2.2%) $282,162 (2.5%) 0.72 2,807
2019-07-01 $229,397 (0.5%) $286,624 (3.0%) 0.72 2,809
2019-08-01 $229,994 (1.1%) $292,257 (5.7%) 0.72 2,815
2019-09-01 $230,413 (2.4%) $290,442 (6.6%) 0.73 2,759
2019-10-01 $229,900 (2.2%) $275,587 (1.5%) 0.74 3,075
2019-11-01 $228,900 (2.2%) $273,506 (1.7%) 0.75 3,033
2019-12-01 $229,700 (2.5%) $271,642 (1.9%) 0.77 2,976
2020-01-01 $229,950 (3.6%) $273,618 (4.6%) 0.77 2,915
2020-02-01 $234,000 (4.3%) $278,296 (7.0%) 0.77 2,809
2020-03-01 $234,900 (4.5%) $281,322 (6.9%) 0.74 2,691
2020-04-01 $234,463 (4.2%) $272,964 (-0.2%) 0.73 2,873
2020-05-01 $234,490 (2.2%) $274,454 (-0.8%) 0.71 2,723
2020-06-01 $234,950 (2.2%) $274,532 (-2.7%) 0.69 2,453
2020-07-01 $235,250 (2.6%) $275,408 (-3.9%) 0.68 2,319
2020-08-01 $239,900 (4.3%) $284,259 (-2.7%) 0.69 2,078
2020-09-01 $243,775 (5.8%) $287,766 (-0.9%) 0.70 2,003
2020-10-01 $245,000 (6.6%) $286,092 (3.8%) 0.70 2,021
2020-11-01 $245,860 (7.4%) $288,854 (5.6%) 0.72 2,053
2020-12-01 $249,695 (8.7%) $290,439 (6.9%) 0.74 1,928
2021-01-01 $252,090 (9.6%) $296,952 (8.5%) 0.75 1,659
2021-02-01 $252,438 (7.9%) $301,749 (8.4%) 0.73 1,358
2021-03-01 $256,950 (9.4%) $314,077 (11.6%) 0.73 1,047
2021-04-01 $264,975 (13.0%) $326,960 (19.8%) 0.72 883
2021-05-01 $274,900 (17.2%) $347,960 (26.8%) 0.73 777
2021-06-01 $284,470 (21.1%) $363,563 (32.4%) 0.75 809
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 (26.1%) $372,955 (29.6%) 0.82 1,096
2021-10-01 $319,900 (30.6%) $379,800 (32.8%) 0.85 1,128
2021-11-01 $317,026 (29.0%) $380,078 (31.6%) 0.85 1,106
2021-12-01 $327,450 (31.1%) $394,502 (35.8%) 0.89 1,044
2022-01-01 $325,000 (28.9%) $401,532 (35.2%) 0.88 938
2022-02-01 $330,923 (31.1%) $411,132 (36.3%) 0.86 859
2022-03-01 $342,200 (33.2%) $416,344 (32.6%) 0.86 888
2022-04-01 $350,000 (32.1%) $430,698 (31.7%) 0.83 933
2022-05-01 $364,975 (32.8%) $430,150 (23.6%) 0.83 1,268
2022-06-01 $370,582 (30.3%) $430,618 (18.4%) 0.83 1,592
2022-07-01 $365,000 (28.1%) $414,832 (16.6%) 0.82 2,180
2022-08-01 $364,500 (22.9%) $414,981 (16.2%) 0.84 2,568
2022-09-01 $359,999 (17.1%) $410,259 (10.0%) 0.84 2,747
2022-10-01 $359,900 (12.5%) $408,514 (7.6%) 0.85 2,820
2022-11-01 $351,500 (10.9%) $400,392 (5.3%) 0.84 3,103
2022-12-01 $349,900 (6.9%) $397,417 (0.7%) 0.86 3,073
2023-01-01 $349,000 (7.4%) $400,464 (-0.3%) 0.86 2,996
2023-02-01 $349,000 (5.5%) $400,954 (-2.5%) 0.84 2,897
2023-03-01 $349,950 (2.3%) $408,486 (-1.9%) 0.82 2,725
2023-04-01 $349,500 (-0.1%) $403,927 (-6.2%) 0.81 2,680
Lakeland's median listing price for 2023-04-01 was $349,500, a difference of $-500 (-0.1%) versus the prior year and $-450 versus the prior month.

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

Lakeland's average listing price for 2023-04-01 was $403,927, a difference of $-26,771 (-6.2%) versus the prior year and $-4,559 versus the prior month.

For the 2023-04-01 period, Lakeland had 2,680 MLS listings, a difference of -45 listings (-2%) versus the prior month and 1,747 listings (187%) 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 72 days 1,884 sqft
2018-02-01 70 days 1,879 sqft
2018-03-01 62 days 1,883 sqft
2018-04-01 60 days 1,918 sqft
2018-05-01 62 days 1,912 sqft
2018-06-01 61 days 1,912 sqft
2018-07-01 62 days 1,918 sqft
2018-08-01 58 days 1,919 sqft
2018-09-01 59 days 1,884 sqft
2018-10-01 62 days 1,864 sqft
2018-11-01 62 days 1,859 sqft
2018-12-01 67 days 1,856 sqft
2019-01-01 72 days 1,848 sqft
2019-02-01 63 days 1,837 sqft
2019-03-01 59 days 1,834 sqft
2019-04-01 65 days 1,847 sqft
2019-05-01 67 days 1,854 sqft
2019-06-01 67 days 1,877 sqft
2019-07-01 65 days 1,856 sqft
2019-08-01 71 days 1,857 sqft
2019-09-01 75 days 1,859 sqft
2019-10-01 68 days 1,828 sqft
2019-11-01 65 days 1,828 sqft
2019-12-01 71 days 1,828 sqft
2020-01-01 73 days 1,828 sqft
2020-02-01 73 days 1,831 sqft
2020-03-01 60 days 1,837 sqft
2020-04-01 61 days 1,828 sqft
2020-05-01 71 days 1,828 sqft
2020-06-01 79 days 1,828 sqft
2020-07-01 70 days 1,818 sqft
2020-08-01 61 days 1,821 sqft
2020-09-01 57 days 1,814 sqft
2020-10-01 53 days 1,787 sqft
2020-11-01 51 days 1,803 sqft
2020-12-01 58 days 1,816 sqft
2021-01-01 65 days 1,815 sqft
2021-02-01 59 days 1,781 sqft
2021-03-01 47 days 1,806 sqft
2021-04-01 43 days 1,807 sqft
2021-05-01 41 days 1,799 sqft
2021-06-01 36 days 1,809 sqft
2021-07-01 35 days 1,798 sqft
2021-08-01 37 days 1,810 sqft
2021-09-01 37 days 1,807 sqft
2021-10-01 37 days 1,824 sqft
2021-11-01 40 days 1,801 sqft
2021-12-01 52 days 1,818 sqft
2022-01-01 43 days 1,815 sqft
2022-02-01 34 days 1,804 sqft
2022-03-01 33 days 1,779 sqft
2022-04-01 31 days 1,798 sqft
2022-05-01 29 days 1,823 sqft
2022-06-01 31 days 1,826 sqft
2022-07-01 34 days 1,820 sqft
2022-08-01 38 days 1,823 sqft
2022-09-01 45 days 1,827 sqft
2022-10-01 56 days 1,828 sqft
2022-11-01 62 days 1,820 sqft
2022-12-01 69 days 1,824 sqft
2023-01-01 72 days 1,824 sqft
2023-02-01 69 days 1,828 sqft
2023-03-01 58 days 1,831 sqft
2023-04-01 59 days 1,819 sqft
Lakeland's median listing age (time on market) for 2023-04-01 was 59 days. This is 90% longer than the same period one year ago.

Lakeland's median square footage for active listings during the 2023-04-01 period was 1,819 sqft. One year prior, the average listing was 1,798 sqft.