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 85 lenders originated 401 USDA loans during 2021. The total origination value was $91,595,000, with an average USDA loan value of $228,416.

Lakeland USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Lakeland averaged 6.35% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Lakeland's average USDA mortgage closing costs are $6,248.

The average rate for the prior week (2022-11-25) was 6.58% and one month ago for the week of 2022-10-28, the average rate was 6.86%.

The average rate one year ago was 3.55%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.29%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
HOME SOLUTION LENDERS INC. 56 2.68% $6,449
FBC MORTGAGE, LLC 24 2.93% $7,415
CALIBER HOME LOANS, INC. 23 2.86% $6,933
Plains Commerce Bank 20 2.85% $6,914
THE MORTGAGE FIRM, INC. 19 2.89% $5,834
HOMEBRIDGE FINANCIAL SERVICES, INC. 17 2.82% $7,482
NVR Mortgage Finance, Inc. 16 2.91% $8,142
CROSSCOUNTRY MORTGAGE, LLC 13 2.98% $6,663
LOANDEPOT.COM, LLC 11 3.35% $6,784
CALCON MUTUAL MORTGAGE LLC 10 3.58% $7,173
DHI MORTGAGE COMPANY, LTD. 9 2.53% $6,287
HOME POINT FINANCIAL CORPORATION 9 3.14% $6,473
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 3.09% $6,304
Hometown Lenders, Inc. 7 3.21% $8,912
AMERIFIRST FINANCIAL CORPORATION 6 3.31% $6,627
METROPLEX MORTGAGE SERVICES, INC. 6 2.81% $6,724
AMERICAN PACIFIC MORTGAGE CORPORATION 5 3.40% $5,882
PULTE MORTGAGE LLC 5 2.83% $3,157
EMBRACE HOME LOANS, INC. 5 2.68% $6,521
KBHS HOME LOANS, LLC 5 3.13% $8,258
SUCCESS MORTGAGE PARTNERS, INC. 5 3.10% $6,171
First Guaranty Mortgage Corporation 5 3.05% $10,040
BROKER SOLUTIONS, INC. 4 3.19% $7,077
Paramount Residential Mortgage Group, Inc. 4 2.97% $6,108
GUILD MORTGAGE COMPANY 4 2.94% $7,256
South State Bank 4 2.56% $4,975
GSF Mortgage Corporation 4 2.94% $7,229
EAGLE HOME MORTGAGE, LLC 3 3.54% $7,884
MOVEMENT MORTGAGE, LLC 3 3.17% $6,583
UNION HOME MORTGAGE CORP. 3 3.00% $7,454
ABSOLUTE HOME MORTGAGE CORPORATION 3 3.33% $6,464
HOMEAMERICAN MORTGAGE CORPORATION 3 2.25% $3,002
Waterstone Mortgage Corporation 3 3.33% $6,645
Colten Mortgage, LLC 3 2.71% $5,379
Citizens Bank 3 3.21% $7,333
GUARANTEED RATE AFFINITY, LLC 3 2.71% $5,750
NEWREZ LLC 3 2.83% $8,011
ENVOY MORTGAGE, LTD 2 3.06% $6,105
PARK SQUARE HOME MORTGAGE, LLC 2 2.75% $7,075
PENNYMAC LOAN SERVICES, LLC 2 3.19% $4,985
PLAZA HOME MORTGAGE, INC. 2 3.25% $4,503
Carrington Mortgage Services, LLC 2 2.88% $4,696
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.25% $6,900
Synovus Bank 2 3.38% $7,949
UNITED WHOLESALE MORTGAGE, LLC 2 3.00% $6,219
Flagstar Bank, FSB 2 2.56% $5,137
GUARANTEED RATE, INC. 2 2.81% $6,163
MORIA DEVELOPMENT, INC. 2 3.19% $6,027
DAS Acquisition Company, LLC 2 4.00% $7,136
HOMESPIRE MORTGAGE CORPORATION 2 2.38% $6,971
KELLER MORTGAGE, LLC 2 2.81% $4,979
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.69% $5,751
SIGNATURE MORTGAGE CORPORATION 1 3.25% $5,891
ACADEMY MORTGAGE CORPORATION 1 2.75% $8,960
AMCAP MORTGAGE, LTD. 1 2.88% $7,203
AMERICAN FINANCIAL RESOURCES, INC. 1 3.00% $6,291
Ameris Bank 1 2.88% $4,701
AmRes Corporation 1 2.75% $6,046
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.25% $8,879
Bank of England 1 2.88% $7,134
CELEBRITY HOME LOANS, LLC 1 3.25% $9,120
Centennial Bank 1 2.75% $4,529
Christensen Financial, Inc. 1 3.25% $7,815
COLUMBUS CAPITAL LENDING, LLC 1 2.88% $18,051
DELMAR FINANCIAL COMPANY 1 2.75% $6,853
EQUITY RESOURCES, INC. 1 2.25% $4,535
Evolve Bank & Trust 1 2.75% $3,724
FIDELITY FUNDING MORTGAGE CORP. 1 2.25% $6,944
FREEDOM MORTGAGE CORPORATION 1 2.75% $5,316
GMFS LLC 1 2.25% $4,967
GUARANTY HOME MORTGAGE CORPORATION 1 2.75% $3,385
HAMILTON HOME LOANS, INC. 1 2.75% $5,858
LAKEVIEW LOAN SERVICING, LLC 1 3.00% $3,095
LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $6,173
MICHIGAN MUTUAL, INC. 1 2.75% $4,798
MID AMERICA MORTGAGE, INC. 1 2.63% $4,854
MORTGAGE EQUITY PARTNERS LLC 1 2.75% $5,533
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $7,447
NFM, INC. 1 3.50% $7,769
Northpointe Bank 1 2.50% $6,111
NTFN, INC. 1 3.50% $4,513
RELIANCE FIRST CAPITAL, LLC 1 3.50% $4,816
SOUTHERN TRUST MORTGAGE, LLC 1 2.75% $5,936
T2 FINANCIAL LLC 1 3.25% $14,911
VAN DYK MORTGAGE CORPORATION 1 3.25% $7,358

The top Lakeland USDA lender as defined by loan originations is HOME SOLUTION LENDERS INC., with 56 USDA loans originated. Their average total fees are $6,449, which is $966 lower than the next largest lender, FBC MORTGAGE, LLC.

The lowest fee Lakeland USDA lenders (with over 10 loans originated) are THE MORTGAGE FIRM, INC. ($5,834), HOME SOLUTION LENDERS INC. ($6,449), CROSSCOUNTRY MORTGAGE, LLC ($6,663), LOANDEPOT.COM, LLC ($6,784) and Plains Commerce Bank ($6,914).

The lowest rate Lakeland USDA lenders (with over 10 loans originated) are HOME SOLUTION LENDERS INC. (2.68%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.82%), Plains Commerce Bank (2.85%), CALIBER HOME LOANS, INC. (2.86%) and THE MORTGAGE FIRM, INC. (2.89%).


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 $224,999 (0.9%) $267,423 (1.5%) 0.74 3,198
2019-04-01 $225,000 (0.0%) $273,442 (-0.1%) 0.71 3,038
2019-05-01 $229,450 (2.0%) $276,605 (0.4%) 0.72 2,880
2019-06-01 $229,900 (2.2%) $282,007 (2.5%) 0.72 2,812
2019-07-01 $229,281 (0.4%) $286,463 (2.9%) 0.72 2,814
2019-08-01 $229,245 (0.8%) $286,328 (3.5%) 0.73 2,937
2019-09-01 $229,614 (2.1%) $280,242 (2.9%) 0.73 3,023
2019-10-01 $229,859 (2.2%) $276,084 (1.7%) 0.74 3,075
2019-11-01 $228,900 (2.2%) $273,354 (1.7%) 0.75 3,040
2019-12-01 $229,575 (2.5%) $271,483 (1.8%) 0.77 2,983
2020-01-01 $229,950 (3.6%) $273,454 (4.6%) 0.77 2,922
2020-02-01 $234,000 (4.3%) $278,104 (6.9%) 0.77 2,816
2020-03-01 $234,900 (4.4%) $281,131 (5.1%) 0.74 2,698
2020-04-01 $234,419 (4.2%) $272,799 (-0.2%) 0.73 2,880
2020-05-01 $234,488 (2.2%) $274,277 (-0.8%) 0.71 2,730
2020-06-01 $234,950 (2.2%) $274,344 (-2.7%) 0.69 2,460
2020-07-01 $235,250 (2.6%) $275,205 (-3.9%) 0.68 2,326
2020-08-01 $239,900 (4.7%) $284,009 (-0.8%) 0.69 2,085
2020-09-01 $243,475 (6.0%) $287,496 (2.6%) 0.70 2,010
2020-10-01 $245,000 (6.6%) $285,825 (3.5%) 0.70 2,028
2020-11-01 $245,770 (7.4%) $288,588 (5.6%) 0.72 2,060
2020-12-01 $249,450 (8.7%) $290,147 (6.9%) 0.74 1,935
2021-01-01 $251,900 (9.6%) $296,595 (8.5%) 0.75 1,666
2021-02-01 $252,258 (7.8%) $301,332 (8.4%) 0.73 1,365
2021-03-01 $256,900 (9.4%) $313,497 (11.5%) 0.73 1,055
2021-04-01 $264,950 (13.0%) $326,162 (19.6%) 0.72 891
2021-05-01 $274,900 (17.2%) $346,663 (26.4%) 0.73 784
2021-06-01 $282,450 (20.2%) $362,390 (32.1%) 0.74 815
2021-07-01 $285,000 (21.2%) $354,801 (28.9%) 0.75 1,016
2021-08-01 $295,330 (23.1%) $356,201 (25.4%) 0.79 1,087
2021-09-01 $307,470 (26.3%) $371,827 (29.3%) 0.82 1,101
2021-10-01 $319,368 (30.4%) $378,883 (32.6%) 0.85 1,132
2021-11-01 $317,000 (29.0%) $379,247 (31.4%) 0.85 1,111
2021-12-01 $327,450 (31.3%) $393,617 (35.7%) 0.89 1,049
2022-01-01 $325,000 (29.0%) $400,510 (35.0%) 0.88 943
2022-02-01 $330,645 (31.1%) $410,130 (36.1%) 0.86 865
2022-03-01 $341,280 (32.9%) $415,321 (32.5%) 0.85 894
2022-04-01 $350,000 (32.1%) $429,547 (31.7%) 0.84 938
2022-05-01 $363,750 (32.3%) $429,257 (23.8%) 0.83 1,271
2022-06-01 $369,500 (30.8%) $429,663 (18.6%) 0.82 1,597
2022-07-01 $365,000 (28.1%) $414,131 (16.7%) 0.83 2,182
2022-08-01 $364,000 (23.3%) $414,327 (16.3%) 0.84 2,569
2022-09-01 $359,995 (17.1%) $409,611 (10.2%) 0.84 2,749
2022-10-01 $359,900 (12.7%) $408,018 (7.7%) 0.85 2,823
2022-11-01 $351,000 (10.7%) $399,938 (5.5%) 0.84 3,106
Lakeland's median listing price for 2022-11-01 was $351,000, a difference of $34,000 (10.7%) versus the prior year and $-8,900 versus the prior month.

Lakeland's median listing price comes in at 84% of the national average.

Lakeland's average listing price for 2022-11-01 was $399,938, a difference of $20,691 (5.5%) versus the prior year and $-8,080 versus the prior month.

For the 2022-11-01 period, Lakeland had 3,106 MLS listings, a difference of 283 listings (10%) versus the prior month and 1,995 listings (180%) 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 1,919 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 1,860 sqft
2018-12-01 67 days 1,856 sqft
2019-01-01 72 days 1,848 sqft
2019-02-01 63 days 1,838 sqft
2019-03-01 61 days 1,847 sqft
2019-04-01 64 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 1,855 sqft
2019-08-01 66 days 1,845 sqft
2019-09-01 66 days 1,836 sqft
2019-10-01 67 days 1,829 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 1,830 sqft
2020-03-01 61 days 1,836 sqft
2020-04-01 61 days 1,828 sqft
2020-05-01 71 days 1,828 sqft
2020-06-01 80 days 1,828 sqft
2020-07-01 70 days 1,818 sqft
2020-08-01 62 days 1,821 sqft
2020-09-01 57 days 1,814 sqft
2020-10-01 54 days 1,786 sqft
2020-11-01 51 days 1,802 sqft
2020-12-01 58 days 1,814 sqft
2021-01-01 65 days 1,813 sqft
2021-02-01 60 days 1,781 sqft
2021-03-01 48 days 1,806 sqft
2021-04-01 43 days 1,806 sqft
2021-05-01 41 days 1,798 sqft
2021-06-01 36 days 1,805 sqft
2021-07-01 35 days 1,793 sqft
2021-08-01 37 days 1,807 sqft
2021-09-01 37 days 1,804 sqft
2021-10-01 37 days 1,821 sqft
2021-11-01 40 days 1,801 sqft
2021-12-01 52 days 1,818 sqft
2022-01-01 44 days 1,814 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 35 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
Lakeland's median listing age (time on market) for 2022-11-01 was 62 days. This is 56% longer than the same period one year ago.

Lakeland's median square footage for active listings during the 2022-11-01 period was 1,820 sqft. One year prior, the average listing was 1,801 sqft.