Palatka FHA Loan Rates, Closing Costs & Stats
Palatka, FL
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Palatka's 73 lenders originated 271 FHA loans during 2023. The total origination value was $53,215,000, with an average FHA loan value of $196,365.
Palatka FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Palatka
averaged
-0.1%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Palatka's average FHA mortgage closing costs are $7,758.
The average rate for the prior week (2024-11-22) was
6.79% and
one month ago for the week of 2024-10-25, the
average rate was 6.57%.
The average rate one year ago was 6.96%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.2%.
Palatka FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Palatka level.
The top Palatka FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
24 FHA loans originated. Their average total fees are
$9,839, which is $956
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Palatka FHA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC ($9,839), QUICKEN LOANS, LLC ($10,795), LOANDEPOT.COM, LLC ($12,515), .
The lowest rate Palatka FHA lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC (6.21%), QUICKEN LOANS, LLC (6.23%), UNITED WHOLESALE MORTGAGE, LLC (6.51%), .
Palatka FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
PALATKA, FL | PUTNAM | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
PALATKA, FL | PUTNAM | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Palatka (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $214,725 (44.4%) | $278,684 (35.0%) | 0.00 | 294 |
2018-02-01 | $222,400 (51.5%) | $278,754 (31.9%) | 0.00 | 288 |
2018-03-01 | $219,950 (44.5%) | $268,821 (24.2%) | 0.00 | 304 |
2018-04-01 | $219,900 (38.3%) | $275,393 (25.7%) | 0.00 | 307 |
2018-05-01 | $227,850 (35.2%) | $281,719 (24.5%) | 0.00 | 287 |
2018-06-01 | $225,000 (31.7%) | $280,382 (21.7%) | 0.00 | 280 |
2018-07-01 | $225,975 (25.7%) | $277,224 (14.0%) | 0.00 | 269 |
2018-08-01 | $224,975 (20.0%) | $272,648 (10.1%) | 0.00 | 259 |
2018-09-01 | $209,950 (5.2%) | $260,927 (3.5%) | 0.00 | 270 |
2018-10-01 | $201,188 (1.1%) | $253,804 (1.2%) | 0.00 | 280 |
2018-11-01 | $199,448 (-0.9%) | $246,883 (-4.6%) | 0.00 | 287 |
2018-12-01 | $199,000 (-0.5%) | $248,231 (-4.5%) | 0.00 | 280 |
2019-01-01 | $197,975 (-7.8%) | $267,397 (-4.1%) | 0.00 | 270 |
2019-02-01 | $212,400 (-4.5%) | $272,861 (-2.1%) | 0.00 | 272 |
2019-03-01 | $219,786 (-0.1%) | $279,791 (4.1%) | 0.00 | 272 |
2019-04-01 | $224,261 (2.0%) | $287,918 (4.6%) | 0.00 | 272 |
2019-05-01 | $228,225 (0.2%) | $298,528 (6.0%) | 0.00 | 262 |
2019-06-01 | $224,900 (0.0%) | $269,482 (-3.9%) | 0.00 | 257 |
2019-07-01 | $221,950 (-1.8%) | $266,770 (-3.8%) | 0.00 | 279 |
2019-08-01 | $217,000 (-3.5%) | $263,578 (-3.3%) | 0.00 | 286 |
2019-09-01 | $212,500 (1.2%) | $258,599 (-0.9%) | 0.00 | 290 |
2019-10-01 | $204,500 (1.7%) | $255,572 (0.7%) | 0.00 | 290 |
2019-11-01 | $206,999 (3.8%) | $257,707 (4.4%) | 0.00 | 266 |
2019-12-01 | $222,425 (11.8%) | $260,896 (5.1%) | 0.00 | 272 |
2020-01-01 | $221,850 (12.1%) | $290,608 (8.7%) | 0.00 | 277 |
2020-02-01 | $215,000 (1.2%) | $299,446 (9.7%) | 0.00 | 285 |
2020-03-01 | $214,450 (-2.4%) | $305,001 (9.0%) | 0.00 | 253 |
2020-04-01 | $223,850 (-0.2%) | $312,944 (8.7%) | 0.00 | 232 |
2020-05-01 | $224,900 (-1.5%) | $334,932 (12.2%) | 0.00 | 201 |
2020-06-01 | $222,950 (-0.9%) | $346,661 (28.6%) | 0.00 | 180 |
2020-07-01 | $229,000 (3.2%) | $328,067 (23.0%) | 0.00 | 193 |
2020-08-01 | $229,000 (5.5%) | $311,593 (18.2%) | 0.00 | 186 |
2020-09-01 | $229,000 (7.8%) | $297,285 (15.0%) | 0.00 | 169 |
2020-10-01 | $219,000 (7.1%) | $268,006 (4.9%) | 0.00 | 176 |
2020-11-01 | $229,000 (10.6%) | $305,142 (18.4%) | 0.00 | 154 |
2020-12-01 | $229,000 (3.0%) | $306,434 (17.5%) | 0.00 | 155 |
2021-01-01 | $219,900 (-0.9%) | $300,733 (3.5%) | 0.00 | 141 |
2021-02-01 | $228,000 (6.1%) | $303,054 (1.2%) | 0.00 | 141 |
2021-03-01 | $229,000 (6.8%) | $320,336 (5.0%) | 0.00 | 138 |
2021-04-01 | $225,750 (0.9%) | $347,575 (11.1%) | 0.00 | 106 |
2021-05-01 | $236,998 (5.4%) | $333,087 (-0.6%) | 0.00 | 107 |
2021-06-01 | $216,248 (-3.0%) | $328,552 (-5.2%) | 0.00 | 130 |
2021-07-01 | $215,995 (-5.7%) | $322,850 (-1.6%) | 0.00 | 147 |
2021-08-01 | $217,673 (-5.0%) | $323,951 (4.0%) | 0.00 | 151 |
2021-09-01 | $226,218 (-1.2%) | $313,230 (5.4%) | 0.00 | 149 |
2021-10-01 | $245,000 (11.9%) | $381,067 (42.2%) | 0.00 | 153 |
2021-11-01 | $265,000 (15.7%) | $407,070 (33.4%) | 0.00 | 161 |
2021-12-01 | $274,500 (19.9%) | $410,352 (33.9%) | 0.00 | 156 |
2022-01-01 | $265,000 (20.5%) | $423,101 (40.7%) | 0.00 | 136 |
2022-02-01 | $282,400 (23.9%) | $503,126 (66.0%) | 0.00 | 114 |
2022-03-01 | $285,925 (24.9%) | $517,720 (61.6%) | 0.00 | 109 |
2022-04-01 | $275,000 (21.8%) | $512,636 (47.5%) | 0.00 | 124 |
2022-05-01 | $271,200 (14.4%) | $485,898 (45.9%) | 0.00 | 141 |
2022-06-01 | $319,900 (47.9%) | $560,823 (70.7%) | 0.00 | 156 |
2022-07-01 | $299,700 (38.8%) | $454,466 (40.8%) | 0.00 | 181 |
2022-08-01 | $300,975 (38.3%) | $442,804 (36.7%) | 0.00 | 195 |
2022-09-01 | $299,500 (32.4%) | $452,546 (44.5%) | 0.00 | 206 |
2022-10-01 | $300,990 (22.9%) | $483,630 (26.9%) | 0.00 | 211 |
2022-11-01 | $317,500 (19.8%) | $501,669 (23.2%) | 0.00 | 214 |
2022-12-01 | $294,900 (7.4%) | $428,442 (4.4%) | 0.00 | 228 |
2023-01-01 | $294,900 (11.3%) | $423,424 (0.1%) | 0.00 | 221 |
2023-02-01 | $294,900 (4.4%) | $420,455 (-16.4%) | 0.00 | 205 |
2023-03-01 | $294,900 (3.1%) | $413,827 (-20.1%) | 0.00 | 192 |
2023-04-01 | $298,500 (8.6%) | $416,355 (-18.8%) | 0.00 | 213 |
2023-05-01 | $310,775 (14.6%) | $417,306 (-14.1%) | 0.00 | 174 |
2023-06-01 | $303,750 (-5.1%) | $412,255 (-26.5%) | 0.00 | 179 |
2023-07-01 | $299,900 (0.1%) | $453,229 (-0.3%) | 0.00 | 192 |
2023-08-01 | $298,050 (-1.0%) | $426,981 (-3.6%) | 0.00 | 205 |
2023-09-01 | $299,900 (0.1%) | $443,858 (-1.9%) | 0.00 | 209 |
2023-10-01 | $309,900 (3.0%) | $452,080 (-6.5%) | 0.00 | 204 |
2023-11-01 | $299,975 (-5.5%) | $446,654 (-11.0%) | 0.00 | 213 |
2023-12-01 | $299,950 (1.7%) | $411,176 (-4.0%) | 0.00 | 230 |
2024-01-01 | $316,700 (7.4%) | $430,026 (1.6%) | 0.00 | 229 |
2024-02-01 | $317,475 (7.7%) | $441,189 (4.9%) | 0.00 | 222 |
2024-03-01 | $309,950 (5.1%) | $445,585 (7.7%) | 0.00 | 229 |
2024-04-01 | $299,950 (0.5%) | $441,201 (6.0%) | 0.00 | 251 |
2024-05-01 | $299,950 (-3.5%) | $429,784 (3.0%) | 0.00 | 252 |
2024-06-01 | $299,900 (-1.3%) | $420,069 (1.9%) | 0.00 | 272 |
2024-07-01 | $300,000 (0.0%) | $427,904 (-5.6%) | 0.00 | 278 |
2024-08-01 | $320,000 (7.4%) | $422,666 (-1.0%) | 0.00 | 297 |
2024-09-01 | $324,500 (8.2%) | $428,853 (-3.4%) | 0.00 | 311 |
2024-10-01 | $325,000 (4.9%) | $426,329 (-5.7%) | 0.00 | 316 |
Palatka's median listing price comes in at 0% of the national average.
Palatka's average listing price for 2024-10-01 was $426,329, a difference of $-25,751 (-5.7%) versus the prior year and $-2,524 versus the prior month.
For the 2024-10-01 period, Palatka had 316 MLS listings, a difference of 5 listings (2%) versus the prior month and 112 listings (55%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Palatka (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,621 sqft |
2018-02-01 | 0 days | 1,673 sqft |
2018-03-01 | 0 days | 1,751 sqft |
2018-04-01 | 0 days | 1,750 sqft |
2018-05-01 | 0 days | 1,801 sqft |
2018-06-01 | 0 days | 1,801 sqft |
2018-07-01 | 0 days | 1,800 sqft |
2018-08-01 | 0 days | 1,801 sqft |
2018-09-01 | 0 days | 1,792 sqft |
2018-10-01 | 0 days | 1,768 sqft |
2018-11-01 | 0 days | 1,723 sqft |
2018-12-01 | 0 days | 1,699 sqft |
2019-01-01 | 0 days | 1,686 sqft |
2019-02-01 | 0 days | 1,720 sqft |
2019-03-01 | 0 days | 1,768 sqft |
2019-04-01 | 0 days | 1,800 sqft |
2019-05-01 | 0 days | 1,802 sqft |
2019-06-01 | 0 days | 1,748 sqft |
2019-07-01 | 0 days | 1,745 sqft |
2019-08-01 | 0 days | 1,725 sqft |
2019-09-01 | 0 days | 1,705 sqft |
2019-10-01 | 0 days | 1,682 sqft |
2019-11-01 | 0 days | 1,686 sqft |
2019-12-01 | 0 days | 1,709 sqft |
2020-01-01 | 0 days | 1,725 sqft |
2020-02-01 | 0 days | 1,733 sqft |
2020-03-01 | 0 days | 1,701 sqft |
2020-04-01 | 0 days | 1,731 sqft |
2020-05-01 | 0 days | 1,682 sqft |
2020-06-01 | 0 days | 1,671 sqft |
2020-07-01 | 0 days | 1,886 sqft |
2020-08-01 | 0 days | 1,774 sqft |
2020-09-01 | 0 days | 1,800 sqft |
2020-10-01 | 0 days | 1,721 sqft |
2020-11-01 | 0 days | 1,679 sqft |
2020-12-01 | 0 days | 1,789 sqft |
2021-01-01 | 0 days | 1,721 sqft |
2021-02-01 | 0 days | 1,794 sqft |
2021-03-01 | 0 days | 1,759 sqft |
2021-04-01 | 0 days | 1,648 sqft |
2021-05-01 | 0 days | 1,600 sqft |
2021-06-01 | 0 days | 1,470 sqft |
2021-07-01 | 0 days | 1,434 sqft |
2021-08-01 | 0 days | 1,498 sqft |
2021-09-01 | 0 days | 1,512 sqft |
2021-10-01 | 0 days | 1,568 sqft |
2021-11-01 | 0 days | 1,576 sqft |
2021-12-01 | 0 days | 1,625 sqft |
2022-01-01 | 0 days | 1,722 sqft |
2022-02-01 | 0 days | 1,701 sqft |
2022-03-01 | 0 days | 1,731 sqft |
2022-04-01 | 0 days | 1,547 sqft |
2022-05-01 | 0 days | 1,531 sqft |
2022-06-01 | 0 days | 1,688 sqft |
2022-07-01 | 0 days | 1,650 sqft |
2022-08-01 | 0 days | 1,662 sqft |
2022-09-01 | 0 days | 1,619 sqft |
2022-10-01 | 0 days | 1,650 sqft |
2022-11-01 | 0 days | 1,621 sqft |
2022-12-01 | 0 days | 1,545 sqft |
2023-01-01 | 0 days | 1,545 sqft |
2023-02-01 | 0 days | 1,545 sqft |
2023-03-01 | 0 days | 1,545 sqft |
2023-04-01 | 0 days | 1,545 sqft |
2023-05-01 | 0 days | 1,543 sqft |
2023-06-01 | 0 days | 1,515 sqft |
2023-07-01 | 0 days | 1,539 sqft |
2023-08-01 | 0 days | 1,500 sqft |
2023-09-01 | 0 days | 1,516 sqft |
2023-10-01 | 0 days | 1,496 sqft |
2023-11-01 | 0 days | 1,529 sqft |
2023-12-01 | 0 days | 1,537 sqft |
2024-01-01 | 0 days | 1,607 sqft |
2024-02-01 | 0 days | 1,563 sqft |
2024-03-01 | 0 days | 1,587 sqft |
2024-04-01 | 0 days | 1,551 sqft |
2024-05-01 | 0 days | 1,527 sqft |
2024-06-01 | 0 days | 1,527 sqft |
2024-07-01 | 0 days | 1,600 sqft |
2024-08-01 | 0 days | 1,568 sqft |
2024-09-01 | 0 days | 1,606 sqft |
2024-10-01 | 0 days | 1,631 sqft |
Palatka's median square footage for active listings during the 2024-10-01 period was 1,631 sqft. One year prior, the average listing was 1,496 sqft.