Gainesville VA Loan Rates, Closing Costs & Stats

GAINESVILLE, FL

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    • 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 7.09% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.52% and one month ago for the week of 2024-03-15, the average rate was 6.68%.

    The average rate one year ago was 6.37%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.92%.

    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.