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 24 lenders originated 42 USDA loans during 2023. The total origination value was $9,090,000, with an average USDA loan value of $216,429.
Tallahassee USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Tallahassee
averaged
6.69%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Tallahassee's average USDA mortgage closing costs are $6,095.
The average rate for the prior week (2024-04-12) was
6.75% and
one month ago for the week of 2024-03-15, the
average rate was 6.73%.
The average rate one year ago was 6.07%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| University Bank | 6 | 6.19% | $7,284 |
| Centennial Bank | 3 | 6.29% | $7,606 |
| Capital City Home Loans, LLC | 3 | 6.38% | $8,184 |
| MOVEMENT MORTGAGE, LLC | 2 | 6.81% | $8,697 |
| LOANDEPOT.COM, LLC | 2 | 6.38% | $8,500 |
| Waterstone Mortgage Corporation | 2 | 6.38% | $13,663 |
| FAIRWAY FUNDING GROUP, INC. | 1 | 6.13% | $8,248 |
| GMFS LLC | 1 | 6.13% | $6,179 |
| Hancock Whitney Bank | 1 | 5.50% | $6,692 |
| ABSOLUTE HOME MORTGAGE CORPORATION | 1 | 7.00% | $4,349 |
| Mortgage Research Center, LLC | 1 | 5.75% | $2,800 |
| NFM, INC. | 1 | 7.38% | $11,288 |
| Paramount Residential Mortgage Group, Inc. | 1 | 7.13% | $7,295 |
| PLAZA HOME MORTGAGE, INC. | 1 | 7.13% | $9,651 |
| PNC Bank | 1 | 6.25% | $4,818 |
| Synovus Bank | 1 | 6.00% | $7,313 |
| UNION HOME MORTGAGE CORP. | 1 | 6.13% | $7,045 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 7.63% | $9,714 |
| MORTGAGE INVESTORS GROUP, INC. | 1 | 7.13% | $5,605 |
| Ameris Bank | 1 | 5.75% | $7,746 |
| Bank of England | 1 | 6.50% | $9,910 |
| Bell Bank | 1 | 5.75% | $6,849 |
| DELMAR FINANCIAL COMPANY | 1 | 6.00% | $7,647 |
| DHI MORTGAGE COMPANY, LTD. | 1 | 5.50% | $6,283 |
The top Tallahassee USDA lender as defined by loan originations is University Bank, with
6 USDA loans originated. Their average total fees are
$7,284, which is $323
lower than the next largest lender,
Centennial Bank.
The lowest fee Tallahassee USDA lenders (with over 10 loans originated) are
.
The lowest rate Tallahassee USDA lenders (with over 10 loans originated) are
.
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%) | $292,666 (8.1%) | 0.82 | 1,135 |
| 2018-02-01 | $220,000 (12.9%) | $294,346 (10.4%) | 0.80 | 1,149 |
| 2018-03-01 | $224,900 (12.5%) | $298,611 (10.9%) | 0.79 | 1,206 |
| 2018-04-01 | $223,950 (12.0%) | $298,184 (9.0%) | 0.76 | 1,284 |
| 2018-05-01 | $225,600 (11.4%) | $301,180 (7.9%) | 0.75 | 1,325 |
| 2018-06-01 | $231,950 (12.3%) | $303,883 (8.5%) | 0.77 | 1,346 |
| 2018-07-01 | $235,000 (11.9%) | $299,917 (6.8%) | 0.78 | 1,375 |
| 2018-08-01 | $229,500 (9.3%) | $296,187 (5.3%) | 0.77 | 1,432 |
| 2018-09-01 | $223,781 (5.8%) | $292,151 (2.1%) | 0.75 | 1,412 |
| 2018-10-01 | $221,800 (0.1%) | $286,751 (-1.3%) | 0.75 | 1,362 |
| 2018-11-01 | $223,840 (1.8%) | $287,118 (-2.2%) | 0.76 | 1,328 |
| 2018-12-01 | $222,780 (1.3%) | $285,749 (-2.0%) | 0.77 | 1,282 |
| 2019-01-01 | $224,725 (2.2%) | $289,995 (-0.9%) | 0.78 | 1,192 |
| 2019-02-01 | $229,973 (4.5%) | $289,170 (-1.8%) | 0.78 | 1,194 |
| 2019-03-01 | $234,979 (4.5%) | $285,593 (-4.4%) | 0.77 | 1,470 |
| 2019-04-01 | $234,925 (4.9%) | $282,269 (-5.3%) | 0.75 | 1,853 |
| 2019-05-01 | $232,100 (2.9%) | $284,966 (-5.4%) | 0.73 | 1,894 |
| 2019-06-01 | $238,360 (2.8%) | $291,953 (-3.9%) | 0.74 | 1,871 |
| 2019-07-01 | $239,800 (2.0%) | $292,454 (-2.5%) | 0.75 | 1,893 |
| 2019-08-01 | $239,900 (4.5%) | $288,975 (-2.4%) | 0.76 | 1,865 |
| 2019-09-01 | $239,900 (7.2%) | $286,764 (-1.8%) | 0.77 | 1,788 |
| 2019-10-01 | $239,900 (8.2%) | $284,876 (-0.7%) | 0.77 | 1,721 |
| 2019-11-01 | $235,000 (5.0%) | $282,576 (-1.6%) | 0.77 | 1,615 |
| 2019-12-01 | $229,450 (3.0%) | $278,448 (-2.6%) | 0.77 | 1,460 |
| 2020-01-01 | $232,520 (3.5%) | $279,670 (-3.6%) | 0.78 | 1,428 |
| 2020-02-01 | $235,000 (2.2%) | $282,590 (-2.3%) | 0.77 | 1,571 |
| 2020-03-01 | $240,000 (2.1%) | $288,028 (0.9%) | 0.75 | 1,656 |
| 2020-04-01 | $240,000 (2.2%) | $288,195 (2.1%) | 0.75 | 1,663 |
| 2020-05-01 | $241,000 (3.8%) | $293,959 (3.2%) | 0.73 | 1,659 |
| 2020-06-01 | $240,750 (1.0%) | $290,619 (-0.5%) | 0.71 | 1,701 |
| 2020-07-01 | $245,450 (2.4%) | $290,693 (-0.6%) | 0.71 | 1,669 |
| 2020-08-01 | $248,200 (3.5%) | $295,101 (2.1%) | 0.71 | 1,587 |
| 2020-09-01 | $249,900 (4.2%) | $300,235 (4.7%) | 0.72 | 1,555 |
| 2020-10-01 | $249,900 (4.2%) | $301,043 (5.7%) | 0.72 | 1,491 |
| 2020-11-01 | $241,550 (2.8%) | $299,680 (6.1%) | 0.71 | 1,438 |
| 2020-12-01 | $237,000 (3.3%) | $299,850 (7.7%) | 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 (4.5%) | 0.71 | 1,331 |
| 2021-04-01 | $252,200 (5.1%) | $300,986 (4.4%) | 0.68 | 1,381 |
| 2021-05-01 | $259,900 (7.8%) | $303,321 (3.2%) | 0.69 | 1,424 |
| 2021-06-01 | $260,500 (8.2%) | $307,341 (5.8%) | 0.69 | 1,445 |
| 2021-07-01 | $260,000 (5.9%) | $306,270 (5.4%) | 0.69 | 1,458 |
| 2021-08-01 | $265,000 (6.8%) | $309,583 (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%) | $345,020 (14.6%) | 0.73 | 1,066 |
| 2022-04-01 | $287,500 (14.0%) | $344,550 (14.5%) | 0.69 | 1,129 |
| 2022-05-01 | $292,625 (12.6%) | $351,626 (15.9%) | 0.67 | 1,239 |
| 2022-06-01 | $299,450 (15.0%) | $363,667 (18.3%) | 0.67 | 1,280 |
| 2022-07-01 | $310,000 (19.2%) | $374,857 (22.4%) | 0.70 | 1,297 |
| 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%) | $383,646 (19.8%) | 0.77 | 1,155 |
| 2022-12-01 | $319,000 (15.0%) | $383,927 (18.7%) | 0.79 | 1,042 |
| 2023-01-01 | $310,500 (7.4%) | $375,319 (12.3%) | 0.77 | 975 |
| 2023-02-01 | $316,250 (7.2%) | $376,072 (10.5%) | 0.76 | 1,036 |
| 2023-03-01 | $325,125 (12.2%) | $387,485 (12.3%) | 0.77 | 1,066 |
| 2023-04-01 | $330,000 (14.8%) | $391,891 (13.7%) | 0.77 | 1,092 |
| 2023-05-01 | $329,500 (12.6%) | $391,688 (11.4%) | 0.75 | 1,091 |
| 2023-06-01 | $335,000 (11.9%) | $395,128 (8.7%) | 0.75 | 1,106 |
| 2023-07-01 | $339,900 (9.7%) | $398,040 (6.2%) | 0.77 | 1,106 |
| 2023-08-01 | $339,225 (13.1%) | $397,887 (6.8%) | 0.78 | 1,148 |
| 2023-09-01 | $329,900 (7.3%) | $394,013 (5.9%) | 0.77 | 1,150 |
| 2023-10-01 | $315,000 (-0.5%) | $384,191 (1.1%) | 0.74 | 1,202 |
| 2023-11-01 | $317,225 (-0.8%) | $383,928 (0.1%) | 0.76 | 1,239 |
| 2023-12-01 | $314,900 (-1.3%) | $379,959 (-1.0%) | 0.77 | 1,165 |
| 2024-01-01 | $313,525 (1.0%) | $376,455 (0.3%) | 0.77 | 1,165 |
| 2024-02-01 | $318,650 (0.8%) | $383,378 (1.9%) | 0.77 | 1,258 |
| 2024-03-01 | $320,000 (-1.6%) | $388,118 (0.2%) | 0.75 | 1,322 |
Tallahassee's median listing price comes in at 75% of the national average.
Tallahassee's average listing price for 2024-03-01 was $388,118, a difference of $633 (0.2%) versus the prior year and $4,740 versus the prior month.
For the 2024-03-01 period, Tallahassee had 1,322 MLS listings, a difference of 64 listings (5%) versus the prior month and 256 listings (24%) 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 | 73 days | 1,698 sqft |
| 2018-02-01 | 67 days | 1,693 sqft |
| 2018-03-01 | 54 days | 1,714 sqft |
| 2018-04-01 | 51 days | 1,709 sqft |
| 2018-05-01 | 50 days | 1,700 sqft |
| 2018-06-01 | 56 days | 1,730 sqft |
| 2018-07-01 | 58 days | 1,742 sqft |
| 2018-08-01 | 55 days | 1,717 sqft |
| 2018-09-01 | 60 days | 1,706 sqft |
| 2018-10-01 | 69 days | 1,692 sqft |
| 2018-11-01 | 73 days | 1,681 sqft |
| 2018-12-01 | 79 days | 1,658 sqft |
| 2019-01-01 | 79 days | 1,670 sqft |
| 2019-02-01 | 70 days | 1,711 sqft |
| 2019-03-01 | 58 days | 1,704 sqft |
| 2019-04-01 | 48 days | 1,696 sqft |
| 2019-05-01 | 48 days | 1,695 sqft |
| 2019-06-01 | 51 days | 1,714 sqft |
| 2019-07-01 | 51 days | 1,728 sqft |
| 2019-08-01 | 53 days | 1,730 sqft |
| 2019-09-01 | 57 days | 1,720 sqft |
| 2019-10-01 | 59 days | 1,711 sqft |
| 2019-11-01 | 63 days | 1,682 sqft |
| 2019-12-01 | 71 days | 1,671 sqft |
| 2020-01-01 | 72 days | 1,657 sqft |
| 2020-02-01 | 46 days | 1,664 sqft |
| 2020-03-01 | 45 days | 1,685 sqft |
| 2020-04-01 | 52 days | 1,687 sqft |
| 2020-05-01 | 57 days | 1,677 sqft |
| 2020-06-01 | 48 days | 1,656 sqft |
| 2020-07-01 | 48 days | 1,655 sqft |
| 2020-08-01 | 46 days | 1,672 sqft |
| 2020-09-01 | 47 days | 1,672 sqft |
| 2020-10-01 | 49 days | 1,662 sqft |
| 2020-11-01 | 51 days | 1,640 sqft |
| 2020-12-01 | 54 days | 1,610 sqft |
| 2021-01-01 | 58 days | 1,614 sqft |
| 2021-02-01 | 44 days | 1,634 sqft |
| 2021-03-01 | 40 days | 1,645 sqft |
| 2021-04-01 | 39 days | 1,651 sqft |
| 2021-05-01 | 37 days | 1,631 sqft |
| 2021-06-01 | 36 days | 1,606 sqft |
| 2021-07-01 | 38 days | 1,592 sqft |
| 2021-08-01 | 38 days | 1,595 sqft |
| 2021-09-01 | 41 days | 1,594 sqft |
| 2021-10-01 | 46 days | 1,606 sqft |
| 2021-11-01 | 50 days | 1,625 sqft |
| 2021-12-01 | 57 days | 1,648 sqft |
| 2022-01-01 | 60 days | 1,670 sqft |
| 2022-02-01 | 38 days | 1,652 sqft |
| 2022-03-01 | 36 days | 1,622 sqft |
| 2022-04-01 | 31 days | 1,600 sqft |
| 2022-05-01 | 32 days | 1,617 sqft |
| 2022-06-01 | 34 days | 1,661 sqft |
| 2022-07-01 | 35 days | 1,690 sqft |
| 2022-08-01 | 38 days | 1,668 sqft |
| 2022-09-01 | 45 days | 1,665 sqft |
| 2022-10-01 | 44 days | 1,688 sqft |
| 2022-11-01 | 44 days | 1,697 sqft |
| 2022-12-01 | 55 days | 1,698 sqft |
| 2023-01-01 | 60 days | 1,655 sqft |
| 2023-02-01 | 45 days | 1,657 sqft |
| 2023-03-01 | 41 days | 1,696 sqft |
| 2023-04-01 | 39 days | 1,702 sqft |
| 2023-05-01 | 39 days | 1,686 sqft |
| 2023-06-01 | 37 days | 1,700 sqft |
| 2023-07-01 | 38 days | 1,686 sqft |
| 2023-08-01 | 36 days | 1,661 sqft |
| 2023-09-01 | 42 days | 1,640 sqft |
| 2023-10-01 | 43 days | 1,612 sqft |
| 2023-11-01 | 45 days | 1,617 sqft |
| 2023-12-01 | 51 days | 1,613 sqft |
| 2024-01-01 | 53 days | 1,592 sqft |
| 2024-02-01 | 43 days | 1,611 sqft |
| 2024-03-01 | 44 days | 1,608 sqft |
Tallahassee's median square footage for active listings during the 2024-03-01 period was 1,608 sqft. One year prior, the average listing was 1,696 sqft.