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 45 lenders originated 274 USDA loans during 2021. The total origination value was $53,420,000, with an average USDA loan value of $194,964.

    Tallahassee USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Tallahassee averaged 6.48% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

    Tallahassee's average USDA mortgage closing costs are $5,825.

    The average rate for the prior week (2022-11-25) was 6.71% and one month ago for the week of 2022-10-28, the average rate was 6.79%.

    The average rate one year ago was 3.48%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.47%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    UNIVERSITY LENDING GROUP, LLC 62 2.92% $5,858
    AMERIFIRST FINANCIAL CORPORATION 34 3.07% $7,227
    MOVEMENT MORTGAGE, LLC 28 2.91% $7,534
    LOANDEPOT.COM, LLC 22 3.07% $7,426
    Capital City Home Loans, LLC 19 2.75% $5,973
    DELMAR FINANCIAL COMPANY 12 3.00% $6,555
    GMFS LLC 9 2.63% $4,692
    Centennial Bank 8 3.00% $6,722
    Ameris Bank 7 2.93% $6,070
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 2.88% $6,922
    GUARANTEED RATE, INC. 5 3.20% $6,507
    BAY CAPITAL MORTGAGE CORPORATION 5 2.48% $6,150
    AMERICAN FINANCIAL NETWORK, INC. 4 3.03% $8,890
    U.S. Bank 4 3.16% $5,369
    PENNYMAC LOAN SERVICES, LLC 4 2.72% $7,211
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.83% $6,038
    Synovus Bank 3 2.63% $6,170
    Blue Ridge Bank 3 2.96% $5,249
    UNITED WHOLESALE MORTGAGE, LLC 3 2.97% $8,119
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.42% $5,299
    CROSSCOUNTRY MORTGAGE, LLC 2 2.75% $8,064
    HOME POINT FINANCIAL CORPORATION 2 2.62% $7,073
    CALIBER HOME LOANS, INC. 2 3.06% $7,679
    Austin Capital Bank SSB 2 2.88% $6,952
    VAN DYK MORTGAGE CORPORATION 1 3.50% $7,619
    Carrington Mortgage Services, LLC 1 2.25% $5,713
    Colten Mortgage, LLC 1 3.13% $5,063
    Equity Prime Mortgage LLC 1 3.75% $9,174
    First Guaranty Mortgage Corporation 1 3.00% $7,610
    Flagstar Bank, FSB 1 2.75% $5,300
    Hancock Whitney Bank 1 2.25% $6,930
    Hometown Lenders, Inc. 1 3.13% $5,099
    Ixonia Bank 1 2.75% $6,732
    Magnolia Bank 1 2.75% $4,667
    METROPLEX MORTGAGE SERVICES, INC. 1 4.50% $7,399
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $5,331
    NORWICH COMMERCIAL GROUP, INC. 1 4.25% $7,636
    Plains Commerce Bank 1 3.13% $6,481
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 3.25% $6,102
    STOCKTON MORTGAGE CORPORATION 1 3.00% $6,066
    SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $5,200
    TOWNE MORTGAGE COMPANY 1 3.75% $4,842
    Truist 1 2.63% $5,599
    Tyndall Federal Credit Union 1 2.75% $5,166
    UNION HOME MORTGAGE CORP. 1 2.25% $4,878

    The top Tallahassee USDA lender as defined by loan originations is UNIVERSITY LENDING GROUP, LLC, with 62 USDA loans originated. Their average total fees are $5,858, which is $1,369 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 ($5,858), Capital City Home Loans, LLC ($5,973), DELMAR FINANCIAL COMPANY ($6,555), AMERIFIRST FINANCIAL CORPORATION ($7,227) and LOANDEPOT.COM, LLC ($7,426).

    The lowest rate Tallahassee USDA lenders (with over 10 loans originated) are Capital City Home Loans, LLC (2.75%), MOVEMENT MORTGAGE, LLC (2.91%), UNIVERSITY LENDING GROUP, LLC (2.92%), DELMAR FINANCIAL COMPANY (3.00%) and LOANDEPOT.COM, LLC (3.07%).

    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 $235,000 (4.5%) $287,226 (-4.5%) 0.77 1,472
    2019-04-01 $234,975 (4.9%) $282,640 (-5.9%) 0.75 1,854
    2019-05-01 $232,600 (2.8%) $284,484 (-6.2%) 0.73 1,896
    2019-06-01 $238,360 (1.9%) $291,482 (-4.7%) 0.74 1,873
    2019-07-01 $239,800 (2.0%) $291,962 (-3.3%) 0.75 1,895
    2019-08-01 $239,900 (4.5%) $288,260 (-3.3%) 0.76 1,866
    2019-09-01 $239,900 (7.1%) $286,260 (-2.7%) 0.77 1,789
    2019-10-01 $239,675 (7.6%) $284,512 (-1.5%) 0.77 1,722
    2019-11-01 $235,000 (4.8%) $282,305 (-2.5%) 0.77 1,618
    2019-12-01 $229,675 (2.6%) $278,167 (-3.5%) 0.77 1,463
    2020-01-01 $232,590 (3.4%) $279,526 (-4.5%) 0.78 1,432
    2020-02-01 $235,400 (1.9%) $282,700 (-3.1%) 0.77 1,575
    2020-03-01 $240,000 (2.1%) $287,800 (0.2%) 0.75 1,660
    2020-04-01 $240,000 (2.1%) $287,968 (1.9%) 0.75 1,667
    2020-05-01 $241,000 (3.6%) $293,761 (3.3%) 0.73 1,663
    2020-06-01 $240,875 (1.1%) $290,290 (-0.4%) 0.71 1,704
    2020-07-01 $245,500 (2.4%) $290,777 (-0.4%) 0.71 1,673
    2020-08-01 $248,200 (3.5%) $295,329 (2.5%) 0.71 1,592
    2020-09-01 $249,900 (4.2%) $300,333 (4.9%) 0.72 1,559
    2020-10-01 $249,900 (4.3%) $301,140 (5.8%) 0.72 1,495
    2020-11-01 $242,250 (3.1%) $299,789 (6.2%) 0.71 1,442
    2020-12-01 $237,000 (3.2%) $299,970 (7.8%) 0.70 1,316
    2021-01-01 $239,900 (3.1%) $295,747 (5.8%) 0.72 1,229
    2021-02-01 $249,450 (6.0%) $299,191 (5.8%) 0.73 1,271
    2021-03-01 $250,000 (4.2%) $301,200 (4.7%) 0.71 1,335
    2021-04-01 $252,750 (5.3%) $301,094 (4.6%) 0.68 1,385
    2021-05-01 $259,900 (7.8%) $303,417 (3.3%) 0.69 1,427
    2021-06-01 $260,500 (8.2%) $307,775 (6.0%) 0.69 1,446
    2021-07-01 $260,000 (5.9%) $306,671 (5.5%) 0.68 1,458
    2021-08-01 $265,000 (6.8%) $309,962 (5.0%) 0.71 1,465
    2021-09-01 $268,975 (7.6%) $312,073 (3.9%) 0.72 1,486
    2021-10-01 $269,900 (8.0%) $316,172 (5.0%) 0.72 1,448
    2021-11-01 $273,750 (13.0%) $320,378 (6.9%) 0.73 1,362
    2021-12-01 $277,450 (17.1%) $323,406 (7.8%) 0.75 1,216
    2022-01-01 $289,000 (20.5%) $334,111 (13.0%) 0.78 1,009
    2022-02-01 $294,975 (18.3%) $340,144 (13.7%) 0.77 1,078
    2022-03-01 $289,900 (16.0%) $344,945 (14.5%) 0.73 1,065
    2022-04-01 $287,500 (13.8%) $344,527 (14.4%) 0.69 1,129
    2022-05-01 $293,339 (12.9%) $351,868 (16.0%) 0.67 1,240
    2022-06-01 $299,450 (15.0%) $363,965 (18.3%) 0.67 1,280
    2022-07-01 $310,000 (19.2%) $375,135 (22.3%) 0.70 1,297
    2022-08-01 $300,000 (13.2%) $372,790 (20.3%) 0.69 1,267
    2022-09-01 $307,950 (14.5%) $372,100 (19.2%) 0.72 1,169
    2022-10-01 $318,000 (17.8%) $379,980 (20.2%) 0.75 1,156
    2022-11-01 $319,950 (16.9%) $383,608 (19.7%) 0.77 1,158
    Tallahassee's median listing price for 2022-11-01 was $319,950, a difference of $46,200 (16.9%) versus the prior year and $1,950 versus the prior month.

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

    Tallahassee's average listing price for 2022-11-01 was $383,608, a difference of $63,230 (19.7%) versus the prior year and $3,628 versus the prior month.

    For the 2022-11-01 period, Tallahassee had 1,158 MLS listings, a difference of 2 listings (0%) versus the prior month and -204 listings (-15%) 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 66 days 1,705 sqft
    2019-04-01 51 days 1,696 sqft
    2019-05-01 51 days 1,696 sqft
    2019-06-01 54 days 1,714 sqft
    2019-07-01 54 days 1,729 sqft
    2019-08-01 56 days 1,731 sqft
    2019-09-01 59 days 1,722 sqft
    2019-10-01 62 days 1,713 sqft
    2019-11-01 65 days 1,683 sqft
    2019-12-01 74 days 1,672 sqft
    2020-01-01 75 days 1,657 sqft
    2020-02-01 54 days 1,664 sqft
    2020-03-01 47 days 1,687 sqft
    2020-04-01 54 days 1,689 sqft
    2020-05-01 59 days 1,678 sqft
    2020-06-01 51 days 1,656 sqft
    2020-07-01 51 days 1,655 sqft
    2020-08-01 50 days 1,677 sqft
    2020-09-01 50 days 1,674 sqft
    2020-10-01 51 days 1,663 sqft
    2020-11-01 53 days 1,643 sqft
    2020-12-01 58 days 1,612 sqft
    2021-01-01 60 days 1,618 sqft
    2021-02-01 47 days 1,638 sqft
    2021-03-01 43 days 1,649 sqft
    2021-04-01 41 days 1,652 sqft
    2021-05-01 38 days 1,636 sqft
    2021-06-01 37 days 1,613 sqft
    2021-07-01 39 days 1,592 sqft
    2021-08-01 38 days 1,599 sqft
    2021-09-01 42 days 1,597 sqft
    2021-10-01 47 days 1,606 sqft
    2021-11-01 51 days 1,628 sqft
    2021-12-01 58 days 1,652 sqft
    2022-01-01 61 days 1,671 sqft
    2022-02-01 39 days 1,655 sqft
    2022-03-01 37 days 1,630 sqft
    2022-04-01 32 days 1,606 sqft
    2022-05-01 33 days 1,622 sqft
    2022-06-01 35 days 1,669 sqft
    2022-07-01 36 days 1,692 sqft
    2022-08-01 39 days 1,672 sqft
    2022-09-01 46 days 1,671 sqft
    2022-10-01 45 days 1,690 sqft
    2022-11-01 45 days 1,706 sqft
    Tallahassee's median listing age (time on market) for 2022-11-01 was 45 days. This is -11% shorter than the same period one year ago.

    Tallahassee's median square footage for active listings during the 2022-11-01 period was 1,706 sqft. One year prior, the average listing was 1,628 sqft.