Tallahassee USDA Loan Rates, Closing Costs & Stats

TALLAHASSEE, 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.

Tallahassee's 30 lenders originated 114 USDA loans during 2022. The total origination value was $24,010,000, with an average USDA loan value of $210,614.

Tallahassee USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Tallahassee averaged 6.22% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Tallahassee's average USDA mortgage closing costs are $6,029.

The average rate for the prior week (2023-05-19) was 6.17% and one month ago for the week of 2023-04-21, the average rate was 5.87%.

The average rate one year ago was 5.09%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.17%.

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

Tallahassee 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 Tallahassee level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNIVERSITY LENDING GROUP, LLC 15 4.16% $6,827
AMERIFIRST FINANCIAL CORPORATION 14 4.53% $8,689
MOVEMENT MORTGAGE, LLC 13 4.61% $7,638
LOANDEPOT.COM, LLC 10 3.96% $8,858
Ameris Bank 8 4.61% $7,954
Capital City Home Loans, LLC 7 4.07% $7,869
CARDINAL FINANCIAL 6 4.46% $7,526
DELMAR FINANCIAL COMPANY 5 4.45% $8,654
GMFS LLC 5 4.82% $5,146
Centennial Bank 4 4.28% $7,921
METROPLEX MORTGAGE SERVICES, INC. 2 5.75% $9,394
PLAZA HOME MORTGAGE, INC. 2 4.69% $5,435
CROSSCOUNTRY MORTGAGE, LLC 2 3.63% $6,028
BAY CAPITAL MORTGAGE CORPORATION 2 4.75% $5,711
U.S. Bank 1 3.50% $6,058
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.50% $9,924
VAN DYK MORTGAGE CORPORATION 1 4.25% $8,642
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.25% $11,535
CALIBER HOME LOANS, INC. 1 4.25% $7,299
Carrington Mortgage Services, LLC 1 2.50% $5,558
GENEVA FINANCIAL, LLC 1 4.13% $6,183
MORTGAGE FINANCIAL SERVICES, LLC 1 4.13% $2,066
MORTGAGE INVESTORS GROUP, INC. 1 4.38% $6,369
NATIONWIDE MORTGAGE BANKERS, INC. 1 4.75% $9,047
NFM, INC. 1 5.63% $4,919
Sierra Pacific Mortgage Company, Inc. 1 5.38% $5,182
SOUTHWEST FUNDING, LP 1 6.50% $9,705
The Central Trust Bank 1 3.63% $7,593
Truist 1 4.63% $4,521
University Bank 1 6.13% $6,085

The top Tallahassee USDA lender as defined by loan originations is UNIVERSITY LENDING GROUP, LLC, with 15 USDA loans originated. Their average total fees are $6,827, which is $1,862 lower than the next largest lender, AMERIFIRST FINANCIAL CORPORATION.

The lowest fee Tallahassee USDA lenders (with over 10 loans originated) are UNIVERSITY LENDING GROUP, LLC ($6,827), MOVEMENT MORTGAGE, LLC ($7,638), AMERIFIRST FINANCIAL CORPORATION ($8,689), LOANDEPOT.COM, LLC ($8,858) and .

The lowest rate Tallahassee USDA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (3.96%), UNIVERSITY LENDING GROUP, LLC (4.16%), AMERIFIRST FINANCIAL CORPORATION (4.53%), MOVEMENT MORTGAGE, LLC (4.61%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Tallahassee (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 $219,900 (15.8%) $295,037 (9.1%) 0.82 1,136
2018-02-01 $220,000 (12.9%) $296,648 (11.4%) 0.80 1,150
2018-03-01 $224,950 (12.5%) $300,808 (11.8%) 0.79 1,207
2018-04-01 $224,075 (12.0%) $300,255 (9.9%) 0.76 1,285
2018-05-01 $226,200 (11.7%) $303,272 (8.7%) 0.76 1,326
2018-06-01 $233,900 (13.1%) $305,864 (8.4%) 0.78 1,347
2018-07-01 $235,000 (11.9%) $301,841 (6.6%) 0.78 1,376
2018-08-01 $229,500 (9.3%) $298,105 (5.2%) 0.77 1,433
2018-09-01 $224,000 (5.8%) $294,076 (2.0%) 0.75 1,414
2018-10-01 $222,780 (0.5%) $288,905 (-1.2%) 0.75 1,364
2018-11-01 $224,340 (2.0%) $289,397 (-2.1%) 0.76 1,331
2018-12-01 $223,780 (1.8%) $288,160 (-2.0%) 0.77 1,285
2019-01-01 $225,000 (2.3%) $292,644 (-0.8%) 0.78 1,195
2019-02-01 $231,125 (5.1%) $291,860 (-1.6%) 0.78 1,197
2019-03-01 $220,450 (-2.0%) $274,410 (-8.8%) 0.73 1,721
2019-04-01 $232,450 (3.7%) $281,753 (-6.2%) 0.74 1,854
2019-05-01 $232,600 (2.8%) $284,541 (-6.2%) 0.73 1,894
2019-06-01 $238,360 (1.9%) $291,539 (-4.7%) 0.74 1,871
2019-07-01 $239,800 (2.0%) $292,021 (-3.3%) 0.75 1,893
2019-08-01 $239,900 (4.5%) $290,368 (-2.6%) 0.75 1,989
2019-09-01 $234,975 (4.9%) $280,174 (-4.7%) 0.74 2,049
2019-10-01 $239,450 (7.5%) $284,184 (-1.6%) 0.77 1,716
2019-11-01 $235,000 (4.8%) $282,195 (-2.5%) 0.77 1,615
2019-12-01 $229,450 (2.5%) $278,043 (-3.5%) 0.77 1,460
2020-01-01 $232,520 (3.3%) $279,560 (-4.5%) 0.78 1,429
2020-02-01 $235,000 (1.7%) $282,720 (-3.1%) 0.77 1,572
2020-03-01 $240,000 (8.9%) $287,678 (4.8%) 0.75 1,656
2020-04-01 $240,000 (3.3%) $287,848 (2.2%) 0.75 1,663
2020-05-01 $241,000 (3.6%) $293,654 (3.2%) 0.73 1,659
2020-06-01 $240,750 (1.0%) $290,319 (-0.4%) 0.71 1,701
2020-07-01 $245,475 (2.4%) $290,808 (-0.4%) 0.71 1,670
2020-08-01 $248,200 (3.5%) $295,220 (1.7%) 0.71 1,588
2020-09-01 $249,900 (6.4%) $300,235 (7.2%) 0.72 1,555
2020-10-01 $249,900 (4.4%) $301,043 (5.9%) 0.72 1,491
2020-11-01 $241,550 (2.8%) $299,680 (6.2%) 0.71 1,438
2020-12-01 $237,000 (3.3%) $299,850 (7.8%) 0.70 1,312
2021-01-01 $239,900 (3.2%) $295,607 (5.7%) 0.72 1,225
2021-02-01 $249,450 (6.2%) $299,066 (5.8%) 0.73 1,267
2021-03-01 $250,000 (4.2%) $301,086 (4.7%) 0.71 1,331
2021-04-01 $252,200 (5.1%) $300,986 (4.6%) 0.68 1,381
2021-05-01 $259,900 (7.8%) $303,321 (3.3%) 0.69 1,424
2021-06-01 $260,500 (8.2%) $307,341 (5.9%) 0.69 1,445
2021-07-01 $260,000 (5.9%) $306,270 (5.3%) 0.69 1,458
2021-08-01 $265,000 (6.8%) $309,548 (4.9%) 0.71 1,465
2021-09-01 $268,850 (7.6%) $311,672 (3.8%) 0.72 1,486
2021-10-01 $269,900 (8.0%) $316,156 (5.0%) 0.72 1,453
2021-11-01 $273,000 (13.0%) $320,321 (6.9%) 0.73 1,365
2021-12-01 $277,450 (17.1%) $323,338 (7.8%) 0.75 1,219
2022-01-01 $289,000 (20.5%) $334,249 (13.1%) 0.78 1,011
2022-02-01 $294,950 (18.2%) $340,203 (13.8%) 0.77 1,079
2022-03-01 $289,900 (16.0%) $344,968 (14.6%) 0.73 1,066
2022-04-01 $287,500 (14.0%) $344,550 (14.5%) 0.69 1,129
2022-05-01 $292,917 (12.7%) $351,672 (15.9%) 0.67 1,240
2022-06-01 $299,450 (15.0%) $363,755 (18.4%) 0.67 1,281
2022-07-01 $310,000 (19.2%) $374,947 (22.4%) 0.70 1,299
2022-08-01 $300,000 (13.2%) $372,617 (20.4%) 0.69 1,265
2022-09-01 $307,475 (14.4%) $372,109 (19.4%) 0.72 1,166
2022-10-01 $316,500 (17.3%) $380,008 (20.2%) 0.74 1,153
2022-11-01 $319,925 (17.2%) $383,667 (19.8%) 0.77 1,155
2022-12-01 $319,000 (15.0%) $384,212 (18.8%) 0.79 1,042
2023-01-01 $311,000 (7.6%) $375,319 (12.3%) 0.77 975
2023-02-01 $316,350 (7.3%) $376,234 (10.6%) 0.76 1,036
2023-03-01 $325,250 (12.2%) $387,614 (12.4%) 0.77 1,065
2023-04-01 $330,000 (14.8%) $392,010 (13.8%) 0.77 1,091
Tallahassee's median listing price for 2023-04-01 was $330,000, a difference of $42,500 (14.8%) versus the prior year and $4,750 versus the prior month.

Tallahassee's median listing price comes in at 77% of the national average.

Tallahassee's average listing price for 2023-04-01 was $392,010, a difference of $47,460 (13.8%) versus the prior year and $4,396 versus the prior month.

For the 2023-04-01 period, Tallahassee had 1,091 MLS listings, a difference of 26 listings (2%) versus the prior month and -38 listings (-3%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Tallahassee (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 82 days 1,700 sqft
2018-02-01 74 days 1,694 sqft
2018-03-01 58 days 1,714 sqft
2018-04-01 54 days 1,709 sqft
2018-05-01 54 days 1,700 sqft
2018-06-01 60 days 1,731 sqft
2018-07-01 64 days 1,745 sqft
2018-08-01 59 days 1,717 sqft
2018-09-01 64 days 1,707 sqft
2018-10-01 73 days 1,692 sqft
2018-11-01 77 days 1,682 sqft
2018-12-01 85 days 1,660 sqft
2019-01-01 86 days 1,671 sqft
2019-02-01 79 days 1,712 sqft
2019-03-01 53 days 1,665 sqft
2019-04-01 51 days 1,693 sqft
2019-05-01 51 days 1,695 sqft
2019-06-01 54 days 1,713 sqft
2019-07-01 54 days 1,728 sqft
2019-08-01 64 days 1,727 sqft
2019-09-01 74 days 1,703 sqft
2019-10-01 64 days 1,710 sqft
2019-11-01 65 days 1,682 sqft
2019-12-01 73 days 1,670 sqft
2020-01-01 75 days 1,657 sqft
2020-02-01 54 days 1,664 sqft
2020-03-01 47 days 1,685 sqft
2020-04-01 54 days 1,687 sqft
2020-05-01 59 days 1,677 sqft
2020-06-01 51 days 1,655 sqft
2020-07-01 51 days 1,655 sqft
2020-08-01 50 days 1,672 sqft
2020-09-01 49 days 1,672 sqft
2020-10-01 51 days 1,662 sqft
2020-11-01 53 days 1,640 sqft
2020-12-01 58 days 1,610 sqft
2021-01-01 60 days 1,614 sqft
2021-02-01 47 days 1,634 sqft
2021-03-01 43 days 1,645 sqft
2021-04-01 41 days 1,651 sqft
2021-05-01 38 days 1,631 sqft
2021-06-01 37 days 1,606 sqft
2021-07-01 38 days 1,592 sqft
2021-08-01 38 days 1,595 sqft
2021-09-01 42 days 1,594 sqft
2021-10-01 47 days 1,606 sqft
2021-11-01 51 days 1,625 sqft
2021-12-01 58 days 1,648 sqft
2022-01-01 62 days 1,670 sqft
2022-02-01 39 days 1,652 sqft
2022-03-01 37 days 1,622 sqft
2022-04-01 31 days 1,600 sqft
2022-05-01 33 days 1,617 sqft
2022-06-01 35 days 1,661 sqft
2022-07-01 36 days 1,691 sqft
2022-08-01 39 days 1,668 sqft
2022-09-01 46 days 1,665 sqft
2022-10-01 45 days 1,688 sqft
2022-11-01 45 days 1,700 sqft
2022-12-01 56 days 1,698 sqft
2023-01-01 62 days 1,655 sqft
2023-02-01 48 days 1,657 sqft
2023-03-01 43 days 1,695 sqft
2023-04-01 40 days 1,703 sqft
Tallahassee's median listing age (time on market) for 2023-04-01 was 40 days. This is 29% longer than the same period one year ago.

Tallahassee's median square footage for active listings during the 2023-04-01 period was 1,703 sqft. One year prior, the average listing was 1,600 sqft.