Compare mortgage rates and fees for leading lenders in Gainesville, FL. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Gainesville.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Gainesville. Plus, shopping lenders is free and there is no obligation.
September 22, 2019
The current average rate for a 30 year fixed rate mortgage in Gainesville is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Gainesville, FL (Alachua County) is $183,885
The median household income for Gainesville, FL (Alachua County) is $46,868
Based on current mortgage rates and a 10% down payment, you need to make $34,116 per year to buy the median priced home in Gainesville
The home price you can afford to buy based on household income in Gainesville is 137% of the median home value which means housing prices are average
Gainesville (Alachua County) ranks 42 out of 67 counties in Florida and 2,716 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Gainesville, FL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Gainesville (Alachua County) below.
Conforming loan limits for Gainesville, FL
FHA loan limits for Gainesville, FL
VA loan limits for Gainesville, FL
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index