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 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.