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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.