Florida USDA Loan Rates, Closing Costs & Stats

Florida

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.

Florida USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Florida averaged 6.73% for the week of 2024-07-05, compared to the national average (all USDA variants) of 6.738% for the same period.

Florida's average USDA mortgage closing costs are $6,217.

The average rate for the prior week (2024-06-28) was 6.61% and one month ago for the week of 2024-05-31, the average rate was 6.47%.

The average rate one year ago was 6.35%.

For refis of the same type during the week of 2024-07-05, the average rate was 6.8%.

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

Florida 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 Florida level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
METROPLEX MORTGAGE SERVICES, INC. 77 6.73% $8,467
UNITED WHOLESALE MORTGAGE, LLC 68 6.10% $9,546
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 6.32% $9,912
MOVEMENT MORTGAGE, LLC 15 6.44% $9,940
AMERICAN BANCSHARES MORTGAGE 15 6.30% $10,901
UNION HOME MORTGAGE CORP. 14 6.55% $8,298
DHI MORTGAGE COMPANY, LTD. 12 5.38% $6,120
CROSSCOUNTRY MORTGAGE, LLC 11 6.19% $10,748
THE MORTGAGE FIRM, INC. 11 6.11% $10,588
First Federal Bank 10 6.16% $6,832
PLAZA HOME MORTGAGE, INC. 9 6.47% $8,089
CARDINAL FINANCIAL 9 6.38% $10,284
Bank of England 9 5.89% $9,298
Ameris Bank 9 6.46% $8,734
Plains Commerce Bank 9 5.94% $12,987
SUCCESS MORTGAGE PARTNERS, INC. 8 6.64% $9,743
HOME SOLUTION LENDERS INC. 8 5.59% $16,124
NEWREZ LLC 8 6.59% $8,175
AMERICAN FINANCIAL NETWORK, INC. 8 6.36% $11,477
FBC MORTGAGE, LLC 8 5.75% $8,948
Mortgage Lenders Investment Trading Corporation 7 6.80% $7,896
LEADERONE FINANCIAL CORPORATION 7 6.86% $8,328
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 7 6.34% $7,988
University Bank 7 6.13% $7,264
BROKER SOLUTIONS, INC. 7 5.95% $10,117
Century Mortgage Company DBA Century Lending Company 7 6.09% $9,010
CMG MORTGAGE, INC. 7 6.14% $9,779
OPEN MORTGAGE, LLC 6 6.31% $9,241
Paramount Residential Mortgage Group, Inc. 6 6.65% $9,433
AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.52% $10,614
Centennial Bank 6 6.19% $7,569
Waterstone Mortgage Corporation 6 6.27% $11,048
LOANDEPOT.COM, LLC 6 6.35% $9,369
Equity Prime Mortgage LLC 6 6.38% $9,243
SUN WEST MORTGAGE COMPANY, INC. 5 6.59% $10,077
NTFN, INC. 5 6.73% $11,395
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.58% $11,618
South State Bank 5 6.10% $8,003
Trustmark National Bank 5 6.43% $7,079
ACADEMY MORTGAGE CORPORATION 5 6.60% $12,418
MORTGAGE FINANCIAL GROUP, INC. 5 6.75% $8,463
AMERICAN FINANCIAL RESOURCES, INC. 5 6.98% $7,056
Synovus Bank 4 5.97% $9,187
STOCKTON MORTGAGE CORPORATION 4 6.28% $8,759
Capital City Home Loans, LLC 4 6.66% $7,450
Sierra Pacific Mortgage Company, Inc. 4 6.09% $9,531
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.28% $14,184
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.81% $7,217
Truist 4 5.88% $7,538
Bell Bank 3 5.63% $8,899
EVERETT FINANCIAL, INC. 3 6.58% $9,256
VANDERBILT MORTGAGE AND FINANCE, INC. 3 5.46% $14,642
EMM LOANS LLC 3 6.92% $7,959
MID AMERICA MORTGAGE, INC. 3 6.75% $7,626
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.71% $11,554
GUARANTEED RATE, INC. 3 6.04% $8,148
Advisors Mortgage Group, L.L.C. 3 5.91% $8,117
SOUTHEAST MORTGAGE OF GEORGIA, INC. 3 6.58% $8,620
Mortgage Research Center, LLC 3 6.04% $3,953
Summit Mortgage Corporation 2 6.06% $8,453
ABSOLUTE HOME MORTGAGE CORPORATION 2 6.31% $7,161
CALIBER HOME LOANS, INC. 2 5.38% $12,979
Carrington Mortgage Services, LLC 2 6.44% $9,504
EAGLE HOME MORTGAGE, LLC 2 5.12% $5,931
ENVOY MORTGAGE, LTD 2 6.38% $6,936
GENEVA FINANCIAL, LLC 2 6.88% $12,053
Magnolia Bank 2 6.19% $7,872
MORTGAGE INVESTORS GROUP, INC. 2 6.69% $7,070
Renasant Bank 2 6.56% $6,800
SOUTHPOINT FINANCIAL SERVICES, INC. 2 6.31% $7,366
1ST SIGNATURE LENDING, LLC 2 7.00% $11,697
INSPIRE HOME LOANS INC. 1 4.88% $6,704
Hometown Equity Mortgage, LLC 1 6.50% $7,149
MORIA DEVELOPMENT, INC. 1 6.00% $7,983
MORTGAGE EQUITY PARTNERS LLC 1 7.50% $7,589
HOMESTAR FINANCIAL CORPORATION 1 5.63% $8,854
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.88% $11,693
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.88% $10,336
Hancock Whitney Bank 1 5.50% $6,692
GUILD MORTGAGE COMPANY 1 7.13% $14,357
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $11,162
GMFS LLC 1 6.13% $6,179
NFM, INC. 1 7.38% $11,288
Northpointe Bank 1 5.75% $7,649
GARDNER FINANCIAL SERVICES, LTD. 1 7.13% $11,930
NVR Mortgage Finance, Inc. 1 4.88% $16,308
FREEDOM MORTGAGE CORPORATION 1 7.50% $7,191
Flagstar Bank, FSB 1 7.00% $4,986
FIRST STATE MORTGAGE SERVICES, LLC 1 6.00% $7,329
PLANET HOME LENDING, LLC 1 6.13% $14,201
First Heritage Mortgage, LLC 1 6.13% $12,009
PNC Bank 1 6.25% $4,818
FAIRWAY FUNDING GROUP, INC. 1 6.13% $8,248
EVANSVILLE TEACHERS 1 6.00% $14,180
Regions Bank 1 7.25% $5,667
AMCAP MORTGAGE, LTD. 1 6.25% $8,838
Seacoast National Bank 1 6.00% $4,549
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.63% $7,763
SmartBank 1 6.38% $7,487
DELMAR FINANCIAL COMPANY 1 6.00% $7,647
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 1 6.88% $9,135
DAS Acquisition Company, LLC 1 7.38% $8,839
CRESCENT MORTGAGE COMPANY 1 7.38% $8,086
Community South Credit Union 1 7.38% $8,086
Wolfe Financial, Inc 1 5.63% $11,058
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.63% $7,918
Citizens Bank 1 6.50% $7,730
CANOPY MORTGAGE, LLC 1 6.13% $14,529
THRIVE MORTGAGE, LLC 1 6.38% $8,423
TJC Mortgage, Inc. 1 6.13% $7,214
CALCON MUTUAL MORTGAGE LLC 1 5.88% $14,211
Blue Ridge Bank 1 6.63% $5,519
BAY EQUITY LLC 1 6.25% $7,629
United Community Bank 1 5.63% $5,846
LAND HOME FINANCIAL SERVICES, INC. 1 6.00% $6,850
Keystone Funding, Inc. 1 6.63% $6,504
Ixonia Bank 1 6.13% $10,363
Loan Simple, Inc. 1 6.25% $11,124
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $11,236

The top Florida USDA lender as defined by loan originations is METROPLEX MORTGAGE SERVICES, INC., with 77 USDA loans originated. Their average total fees are $8,467, which is $1,079 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Florida USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,120), First Federal Bank ($6,832), UNION HOME MORTGAGE CORP. ($8,298), METROPLEX MORTGAGE SERVICES, INC. ($8,467) and UNITED WHOLESALE MORTGAGE, LLC ($9,546).

The lowest rate Florida USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.38%), UNITED WHOLESALE MORTGAGE, LLC (6.10%), THE MORTGAGE FIRM, INC. (6.11%), First Federal Bank (6.16%) and CROSSCOUNTRY MORTGAGE, LLC (6.19%).