Tallahassee USDA Loans

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 5.16% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

    The average rate for the prior week (2022-05-13) was 5.44% and one month ago for the week of 2022-04-15, the average rate was 5.04%.

    The average rate one year ago was 3.28%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.15%.

    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 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. Total Fees
    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 Bank 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 $221,750 (14.2%) $296,209 (8.3%) 0.82 1,156
    2018-02-01 $224,900 (14.3%) $297,344 (10.1%) 0.81 1,165
    2018-03-01 $229,000 (13.7%) $303,329 (11.4%) 0.79 1,218
    2018-04-01 $225,000 (9.8%) $302,913 (9.8%) 0.76 1,305
    2018-05-01 $229,450 (10.6%) $304,693 (7.5%) 0.77 1,341
    2018-06-01 $236,000 (12.4%) $307,137 (8.0%) 0.79 1,364
    2018-07-01 $239,450 (11.4%) $303,497 (6.1%) 0.80 1,407
    2018-08-01 $232,450 (9.5%) $300,086 (4.6%) 0.78 1,451
    2018-09-01 $224,900 (4.6%) $295,939 (1.5%) 0.75 1,416
    2018-10-01 $222,700 (-1.0%) $288,458 (-2.1%) 0.74 1,371
    2018-11-01 $226,000 (1.6%) $289,476 (-2.0%) 0.76 1,340
    2018-12-01 $225,000 (0.7%) $288,497 (-1.8%) 0.77 1,287
    2019-01-01 $227,450 (2.6%) $293,360 (-1.0%) 0.78 1,196
    2019-02-01 $235,000 (4.5%) $293,694 (-1.2%) 0.79 1,196
    2019-03-01 $237,800 (3.8%) $289,646 (-4.5%) 0.77 1,480
    2019-04-01 $235,000 (4.4%) $285,204 (-5.9%) 0.74 1,880
    2019-05-01 $235,000 (2.4%) $288,520 (-5.3%) 0.72 1,919
    2019-06-01 $240,000 (1.7%) $298,135 (-2.9%) 0.74 1,904
    2019-07-01 $242,000 (1.1%) $299,376 (-1.4%) 0.75 1,934
    2019-08-01 $238,429 (2.6%) $288,948 (-3.7%) 0.75 2,080
    2019-09-01 $235,429 (4.7%) $282,640 (-4.5%) 0.75 2,178
    2019-10-01 $240,000 (7.8%) $291,163 (0.9%) 0.77 1,754
    2019-11-01 $238,900 (5.7%) $286,433 (-1.1%) 0.77 1,657
    2019-12-01 $234,900 (4.4%) $282,343 (-2.1%) 0.78 1,505
    2020-01-01 $239,000 (5.1%) $285,826 (-2.6%) 0.80 1,459
    2020-02-01 $239,900 (2.1%) $288,621 (-1.7%) 0.77 1,606
    2020-03-01 $245,000 (3.0%) $292,569 (1.0%) 0.77 1,687
    2020-04-01 $245,000 (4.3%) $292,840 (2.7%) 0.76 1,696
    2020-05-01 $245,000 (4.3%) $298,860 (3.6%) 0.74 1,679
    2020-06-01 $245,950 (2.5%) $295,993 (-0.7%) 0.72 1,724
    2020-07-01 $249,900 (3.3%) $296,926 (-0.8%) 0.72 1,695
    2020-08-01 $250,000 (4.9%) $300,755 (4.1%) 0.71 1,618
    2020-09-01 $250,000 (6.2%) $302,330 (7.0%) 0.71 1,576
    2020-10-01 $250,000 (4.2%) $303,677 (4.3%) 0.71 1,515
    2020-11-01 $245,000 (2.6%) $300,844 (5.0%) 0.70 1,460
    2020-12-01 $238,275 (1.4%) $302,248 (7.1%) 0.70 1,332
    2021-01-01 $239,900 (0.4%) $296,594 (3.8%) 0.71 1,233
    2021-02-01 $249,900 (4.2%) $300,810 (4.2%) 0.72 1,286
    2021-03-01 $253,600 (3.5%) $302,856 (3.5%) 0.71 1,352
    2021-04-01 $259,900 (6.1%) $304,097 (3.8%) 0.70 1,418
    2021-05-01 $262,000 (6.9%) $305,999 (2.4%) 0.69 1,447
    2021-06-01 $264,450 (7.5%) $310,447 (4.9%) 0.69 1,458
    2021-07-01 $262,500 (5.0%) $310,256 (4.5%) 0.68 1,452
    2021-08-01 $268,450 (7.4%) $313,344 (4.2%) 0.71 1,485
    2021-09-01 $270,900 (8.4%) $315,018 (4.2%) 0.71 1,507
    2021-10-01 $274,900 (10.0%) $318,896 (5.0%) 0.72 1,476
    2021-11-01 $277,900 (13.4%) $324,996 (8.0%) 0.73 1,390
    2021-12-01 $280,000 (17.5%) $327,299 (8.3%) 0.75 1,239
    2022-01-01 $290,000 (20.9%) $336,155 (13.3%) 0.77 1,032
    2022-02-01 $297,500 (19.1%) $343,002 (14.0%) 0.76 1,096
    2022-03-01 $292,000 (15.1%) $348,261 (15.0%) 0.72 1,079
    2022-04-01 $291,000 (12.0%) $347,089 (14.1%) 0.68 1,147
    Tallahassee's median listing price for 2022-04-01 was $291,000, a difference of $31,100 (12.0%) versus the prior year and $-1,000 versus the prior month.

    Tallahassee's median listing price comes in at 68% of the national average.

    Tallahassee's average listing price for 2022-04-01 was $347,089, a difference of $42,992 (14.1%) versus the prior year and $-1,172 versus the prior month.

    For the 2022-04-01 period, Tallahassee had 1,147 MLS listings, a difference of 68 listings (6%) versus the prior month and -271 listings (-19%) 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 81 days 1,713 sqft
    2018-02-01 74 days 1,710 sqft
    2018-03-01 58 days 1,723 sqft
    2018-04-01 54 days 1,717 sqft
    2018-05-01 54 days 1,710 sqft
    2018-06-01 59 days 1,744 sqft
    2018-07-01 61 days 1,762 sqft
    2018-08-01 59 days 1,725 sqft
    2018-09-01 65 days 1,712 sqft
    2018-10-01 73 days 1,695 sqft
    2018-11-01 76 days 1,695 sqft
    2018-12-01 84 days 1,678 sqft
    2019-01-01 85 days 1,678 sqft
    2019-02-01 79 days 1,725 sqft
    2019-03-01 52 days 1,723 sqft
    2019-04-01 51 days 1,713 sqft
    2019-05-01 50 days 1,709 sqft
    2019-06-01 53 days 1,730 sqft
    2019-07-01 52 days 1,746 sqft
    2019-08-01 58 days 1,729 sqft
    2019-09-01 66 days 1,709 sqft
    2019-10-01 63 days 1,732 sqft
    2019-11-01 65 days 1,700 sqft
    2019-12-01 72 days 1,688 sqft
    2020-01-01 75 days 1,673 sqft
    2020-02-01 53 days 1,680 sqft
    2020-03-01 47 days 1,708 sqft
    2020-04-01 52 days 1,701 sqft
    2020-05-01 58 days 1,700 sqft
    2020-06-01 49 days 1,672 sqft
    2020-07-01 49 days 1,679 sqft
    2020-08-01 49 days 1,700 sqft
    2020-09-01 48 days 1,690 sqft
    2020-10-01 49 days 1,679 sqft
    2020-11-01 52 days 1,648 sqft
    2020-12-01 57 days 1,617 sqft
    2021-01-01 59 days 1,616 sqft
    2021-02-01 46 days 1,640 sqft
    2021-03-01 43 days 1,650 sqft
    2021-04-01 40 days 1,658 sqft
    2021-05-01 38 days 1,652 sqft
    2021-06-01 37 days 1,619 sqft
    2021-07-01 38 days 1,600 sqft
    2021-08-01 38 days 1,608 sqft
    2021-09-01 42 days 1,606 sqft
    2021-10-01 46 days 1,625 sqft
    2021-11-01 50 days 1,649 sqft
    2021-12-01 57 days 1,660 sqft
    2022-01-01 62 days 1,670 sqft
    2022-02-01 40 days 1,659 sqft
    2022-03-01 37 days 1,651 sqft
    2022-04-01 31 days 1,616 sqft
    Tallahassee's median listing age (time on market) for 2022-04-01 was 31 days. This is -22% shorter than the same period one year ago.

    Tallahassee's median square footage for active listings during the 2022-04-01 period was 1,616 sqft. One year prior, the average listing was 1,658 sqft.