Tallahassee USDA Loans

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 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.