Gainesville VA Loan Rates, Closing Costs & Stats

GAINESVILLE, FL

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Gainesville's 73 lenders originated 418 VA loans during 2023. The total origination value was $130,270,000, with an average VA loan value of $311,651.

Gainesville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Gainesville averaged 6.8% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

Gainesville's average VA mortgage closing costs are $6,350.

The average rate for the prior week (2024-04-05) was 6.35% and one month ago for the week of 2024-03-08, the average rate was 6.38%.

The average rate one year ago was 6.08%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.73%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Gainesville VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Gainesville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 57 6.83% $7,039
UNITED WHOLESALE MORTGAGE, LLC 41 6.41% $6,756
NAVY FEDERAL CREDIT UNION 25 5.65% $5,505
DHI MORTGAGE COMPANY, LTD. 19 5.38% $6,801
QUICKEN LOANS, LLC 17 6.17% $10,211
AMERICAN FINANCIAL NETWORK, INC. 15 6.81% $8,016
Ameris Bank 14 6.52% $7,337
FREEDOM MORTGAGE CORPORATION 12 6.59% $11,745
LOANDEPOT.COM, LLC 11 6.55% $11,624
Mortgage Lenders Investment Trading Corporation 11 7.00% $15,415
USAA Federal Savings Bank 10 6.09% $8,145
THE MORTGAGE FIRM, INC. 9 6.56% $5,442
GUARANTEED RATE, INC. 8 6.46% $7,751
Advisors Mortgage Group, L.L.C. 7 6.00% $5,181
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 7 6.89% $7,445
FBC MORTGAGE, LLC 6 6.08% $6,820
PENNYMAC LOAN SERVICES, LLC 5 5.65% $14,335
MOVEMENT MORTGAGE, LLC 5 6.35% $7,113
First Federal Bank 5 6.93% $7,834
CARDINAL FINANCIAL 5 6.25% $9,888
NEW DAY FINANCIAL, LLC 5 7.52% $11,385
EAGLE HOME MORTGAGE, LLC 5 4.67% $2,760
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.72% $5,852
Barrington Bank & Trust Company, N.A. 4 6.25% $7,521
CROSSCOUNTRY MORTGAGE, LLC 4 6.81% $12,086
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.63% $11,012
Nations Lending Corporation 3 6.42% $18,053
PENTAGON FEDERAL CREDIT UNION 3 5.38% $5,177
CMG MORTGAGE, INC. 3 7.13% $12,574
AMERICAN FINANCIAL RESOURCES, INC. 3 6.25% $12,279
UNION HOME MORTGAGE CORP. 3 6.42% $8,870
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.33% $12,318
Mid-Continent Funding, Inc. 2 6.44% $7,128
MORTGAGE FINANCIAL GROUP, INC. 2 6.06% $11,639
CALIBER HOME LOANS, INC. 2 6.75% $16,795
SUN WEST MORTGAGE COMPANY, INC. 2 7.00% $6,109
VILLAGE CAPITAL MORTGAGE 2 6.94% $6,543
Strong Home Mortgage, LLC 2 6.56% $5,302
MORTGAGEONE, INC. 2 6.69% $330
Goldwater Bank, N.A. 2 6.94% $8,434
PLAZA HOME MORTGAGE, INC. 2 6.62% $7,868
WATSON MORTGAGE CORP. 1 6.25% $3,432
ALLIED MORTGAGE GROUP, INC. 1 7.25% $7,754
AMERICAN FINANCING CORPORATION 1 6.88% $9,882
AMERISAVE MORTGAGE CORPORATION 1 6.25% $14,294
CONTOUR MORTGAGE CORPORATION 1 6.50% $24,110
Equity Prime Mortgage LLC 1 6.88% $0
EVERETT FINANCIAL, INC. 1 7.13% $9,836
First Horizon Bank 1 5.50% $31,442
FIRST MORTGAGE COMPANY, INC. 1 6.63% $5,029
Florida Capital Bank 1 5.63% $14,246
GUILD MORTGAGE COMPANY 1 5.63% $13,227
INSPIRE HOME LOANS INC. 1 5.50% $12,215
JPMorgan Chase Bank 1 5.38% $5,381
Keystone Funding, Inc. 1 6.50% $9,669
LOANPAL, LLC 1 6.50% $10,046
METROPLEX MORTGAGE SERVICES, INC. 1 6.00% $15,990
MICHIGAN MUTUAL, INC. 1 7.75% $4,907
MID AMERICA MORTGAGE, INC. 1 7.13% $10,725
Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $12,729
NBKC BANK 1 7.00% $4,434
North American Savings Bank, F.S.B. 1 5.75% $9,312
Prosperity Home Mortgage, LLC 1 7.00% $5,416
Renasant Bank 1 5.25% $3,839
Seacoast National Bank 1 6.63% $6,146
South State Bank 1 6.99% $1,968
SOUTHWEST STAGE FUNDING, LLC 1 6.38% $5,290
STOCKTON MORTGAGE CORPORATION 1 6.63% $13,571
Stride Bank 1 6.00% $15,578
The Federal Savings Bank 1 6.88% $11,764
TOWNE MORTGAGE COMPANY 1 6.63% $11,280
Waterstone Mortgage Corporation 1 6.13% $6,908
Academy Bank 1 6.75% $24,444

The top Gainesville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 57 VA loans originated. Their average total fees are $7,039, which is $284 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Gainesville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($5,505), UNITED WHOLESALE MORTGAGE, LLC ($6,756), DHI MORTGAGE COMPANY, LTD. ($6,801), Mortgage Research Center, LLC ($7,039) and Ameris Bank ($7,337).

The lowest rate Gainesville VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.38%), NAVY FEDERAL CREDIT UNION (5.65%), USAA Federal Savings Bank (6.09%), QUICKEN LOANS, LLC (6.17%) and UNITED WHOLESALE MORTGAGE, LLC (6.41%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Gainesville (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 $239,900 (14.9%) $307,693 (12.3%) 0.89 1,053
2018-02-01 $242,015 (13.1%) $310,046 (12.4%) 0.88 1,089
2018-03-01 $245,000 (8.9%) $304,465 (8.2%) 0.86 1,142
2018-04-01 $245,350 (9.0%) $307,275 (8.0%) 0.83 1,206
2018-05-01 $249,700 (8.6%) $310,001 (7.6%) 0.83 1,201
2018-06-01 $245,900 (7.0%) $308,983 (8.8%) 0.82 1,249
2018-07-01 $246,450 (7.2%) $306,579 (6.4%) 0.82 1,293
2018-08-01 $244,950 (6.9%) $304,051 (5.7%) 0.82 1,298
2018-09-01 $244,900 (6.5%) $304,582 (5.0%) 0.82 1,258
2018-10-01 $244,900 (7.5%) $306,860 (7.2%) 0.83 1,230
2018-11-01 $239,895 (4.6%) $303,104 (2.8%) 0.81 1,207
2018-12-01 $239,900 (1.5%) $301,904 (1.2%) 0.83 1,158
2019-01-01 $244,950 (2.1%) $307,179 (-0.2%) 0.85 1,150
2019-02-01 $249,900 (3.3%) $313,668 (1.2%) 0.84 1,173
2019-03-01 $251,571 (2.7%) $312,477 (2.6%) 0.82 1,198
2019-04-01 $257,000 (4.8%) $403,697 (31.4%) 0.82 1,219
2019-05-01 $264,630 (6.0%) $496,961 (60.3%) 0.83 1,216
2019-06-01 $264,998 (7.8%) $329,202 (6.5%) 0.83 1,196
2019-07-01 $267,948 (8.7%) $330,363 (7.8%) 0.84 1,155
2019-08-01 $265,791 (8.5%) $327,812 (7.8%) 0.84 1,161
2019-09-01 $262,477 (7.2%) $322,792 (6.0%) 0.84 1,167
2019-10-01 $264,068 (7.8%) $319,445 (4.1%) 0.85 1,149
2019-11-01 $269,000 (12.1%) $320,150 (5.6%) 0.88 1,054
2019-12-01 $265,000 (10.5%) $317,436 (5.1%) 0.88 1,040
2020-01-01 $270,950 (10.6%) $322,753 (5.1%) 0.91 984
2020-02-01 $274,300 (9.8%) $326,401 (4.1%) 0.90 1,017
2020-03-01 $280,000 (11.3%) $329,391 (5.4%) 0.88 1,091
2020-04-01 $279,950 (8.9%) $328,536 (-18.6%) 0.88 1,109
2020-05-01 $288,500 (9.0%) $348,313 (-29.9%) 0.88 1,021
2020-06-01 $289,975 (9.4%) $356,819 (8.4%) 0.85 904
2020-07-01 $287,745 (7.4%) $354,532 (7.3%) 0.83 910
2020-08-01 $279,900 (5.3%) $348,268 (6.2%) 0.80 882
2020-09-01 $279,495 (6.5%) $350,448 (8.6%) 0.80 856
2020-10-01 $277,950 (5.3%) $348,168 (9.0%) 0.80 827
2020-11-01 $262,450 (-2.4%) $347,288 (8.5%) 0.77 821
2020-12-01 $254,250 (-4.1%) $345,872 (9.0%) 0.76 769
2021-01-01 $259,900 (-4.1%) $345,890 (7.2%) 0.78 696
2021-02-01 $262,798 (-4.2%) $346,582 (6.2%) 0.77 593
2021-03-01 $265,000 (-5.4%) $362,585 (10.1%) 0.75 516
2021-04-01 $289,900 (3.6%) $398,757 (21.4%) 0.78 483
2021-05-01 $290,000 (0.5%) $390,063 (12.0%) 0.77 495
2021-06-01 $290,850 (0.3%) $391,409 (9.7%) 0.77 528
2021-07-01 $280,000 (-2.7%) $390,835 (10.2%) 0.74 594
2021-08-01 $286,995 (2.5%) $393,981 (13.1%) 0.77 664
2021-09-01 $284,945 (2.0%) $400,910 (14.4%) 0.76 679
2021-10-01 $299,000 (7.6%) $415,372 (19.3%) 0.80 617
2021-11-01 $301,995 (15.1%) $414,590 (19.4%) 0.81 557
2021-12-01 $308,444 (21.3%) $434,848 (25.7%) 0.84 474
2022-01-01 $315,000 (21.2%) $427,092 (23.5%) 0.85 398
2022-02-01 $335,000 (27.5%) $435,894 (25.8%) 0.87 376
2022-03-01 $338,663 (27.8%) $441,243 (21.7%) 0.85 382
2022-04-01 $353,995 (22.1%) $480,656 (20.5%) 0.84 377
2022-05-01 $374,500 (29.1%) $484,005 (24.1%) 0.86 445
2022-06-01 $377,000 (29.6%) $474,173 (21.2%) 0.84 591
2022-07-01 $365,000 (30.4%) $460,839 (17.9%) 0.82 714
2022-08-01 $357,300 (24.5%) $458,129 (16.3%) 0.83 742
2022-09-01 $354,675 (24.5%) $449,750 (12.2%) 0.83 775
2022-10-01 $348,250 (16.5%) $437,048 (5.2%) 0.82 798
2022-11-01 $344,950 (14.2%) $434,773 (4.9%) 0.83 785
2022-12-01 $349,900 (13.4%) $445,534 (2.5%) 0.86 744
2023-01-01 $354,500 (12.5%) $452,678 (6.0%) 0.88 657
2023-02-01 $372,450 (11.2%) $456,990 (4.8%) 0.90 637
2023-03-01 $371,250 (9.6%) $466,100 (5.6%) 0.88 633
2023-04-01 $370,000 (4.5%) $476,416 (-0.9%) 0.86 663
2023-05-01 $396,000 (5.7%) $500,615 (3.4%) 0.90 615
2023-06-01 $389,950 (3.4%) $494,195 (4.2%) 0.88 645
2023-07-01 $380,000 (4.1%) $484,321 (5.1%) 0.86 678
2023-08-01 $369,999 (3.6%) $472,125 (3.1%) 0.85 716
2023-09-01 $368,950 (4.0%) $458,518 (2.0%) 0.86 761
2023-10-01 $349,500 (0.4%) $444,332 (1.7%) 0.82 858
2023-11-01 $349,950 (1.5%) $441,530 (1.6%) 0.83 895
2023-12-01 $349,900 (0.0%) $435,032 (-2.4%) 0.85 930
2024-01-01 $349,950 (-1.3%) $436,851 (-3.5%) 0.85 924
2024-02-01 $350,000 (-6.0%) $440,685 (-3.6%) 0.84 962
2024-03-01 $349,000 (-6.0%) $433,924 (-6.9%) 0.82 1,054
Gainesville's median listing price for 2024-03-01 was $349,000, a difference of $-22,250 (-6.0%) versus the prior year and $-1,000 versus the prior month.

Gainesville's median listing price comes in at 82% of the national average.

Gainesville's average listing price for 2024-03-01 was $433,924, a difference of $-32,176 (-6.9%) versus the prior year and $-6,761 versus the prior month.

For the 2024-03-01 period, Gainesville had 1,054 MLS listings, a difference of 92 listings (10%) versus the prior month and 421 listings (67%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gainesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 94 days 1,775 sqft
2018-02-01 80 days 1,779 sqft
2018-03-01 54 days 1,792 sqft
2018-04-01 52 days 1,805 sqft
2018-05-01 53 days 1,821 sqft
2018-06-01 56 days 1,798 sqft
2018-07-01 62 days 1,790 sqft
2018-08-01 68 days 1,790 sqft
2018-09-01 79 days 1,782 sqft
2018-10-01 80 days 1,785 sqft
2018-11-01 83 days 1,745 sqft
2018-12-01 85 days 1,759 sqft
2019-01-01 85 days 1,765 sqft
2019-02-01 77 days 1,798 sqft
2019-03-01 65 days 1,775 sqft
2019-04-01 54 days 1,790 sqft
2019-05-01 55 days 1,819 sqft
2019-06-01 61 days 1,840 sqft
2019-07-01 70 days 1,856 sqft
2019-08-01 72 days 1,837 sqft
2019-09-01 73 days 1,817 sqft
2019-10-01 74 days 1,824 sqft
2019-11-01 82 days 1,825 sqft
2019-12-01 86 days 1,798 sqft
2020-01-01 85 days 1,804 sqft
2020-02-01 68 days 1,790 sqft
2020-03-01 51 days 1,803 sqft
2020-04-01 58 days 1,813 sqft
2020-05-01 72 days 1,835 sqft
2020-06-01 87 days 1,827 sqft
2020-07-01 60 days 1,779 sqft
2020-08-01 65 days 1,712 sqft
2020-09-01 75 days 1,700 sqft
2020-10-01 78 days 1,700 sqft
2020-11-01 69 days 1,669 sqft
2020-12-01 74 days 1,640 sqft
2021-01-01 78 days 1,663 sqft
2021-02-01 67 days 1,620 sqft
2021-03-01 45 days 1,624 sqft
2021-04-01 40 days 1,685 sqft
2021-05-01 36 days 1,685 sqft
2021-06-01 38 days 1,653 sqft
2021-07-01 42 days 1,658 sqft
2021-08-01 43 days 1,663 sqft
2021-09-01 46 days 1,631 sqft
2021-10-01 55 days 1,662 sqft
2021-11-01 59 days 1,657 sqft
2021-12-01 72 days 1,611 sqft
2022-01-01 65 days 1,608 sqft
2022-02-01 38 days 1,602 sqft
2022-03-01 38 days 1,657 sqft
2022-04-01 38 days 1,734 sqft
2022-05-01 33 days 1,771 sqft
2022-06-01 35 days 1,803 sqft
2022-07-01 39 days 1,773 sqft
2022-08-01 51 days 1,736 sqft
2022-09-01 54 days 1,744 sqft
2022-10-01 59 days 1,711 sqft
2022-11-01 66 days 1,702 sqft
2022-12-01 71 days 1,707 sqft
2023-01-01 71 days 1,708 sqft
2023-02-01 65 days 1,730 sqft
2023-03-01 49 days 1,722 sqft
2023-04-01 45 days 1,750 sqft
2023-05-01 48 days 1,774 sqft
2023-06-01 45 days 1,776 sqft
2023-07-01 48 days 1,774 sqft
2023-08-01 50 days 1,758 sqft
2023-09-01 52 days 1,759 sqft
2023-10-01 55 days 1,700 sqft
2023-11-01 58 days 1,664 sqft
2023-12-01 66 days 1,664 sqft
2024-01-01 75 days 1,657 sqft
2024-02-01 69 days 1,664 sqft
2024-03-01 60 days 1,647 sqft
Gainesville's median listing age (time on market) for 2024-03-01 was 60 days. This is 22% longer than the same period one year ago.

Gainesville's median square footage for active listings during the 2024-03-01 period was 1,647 sqft. One year prior, the average listing was 1,722 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.