Tallahassee USDA Loan Rates, Closing Costs & Stats

TALLAHASSEE, 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.

    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.