Pensacola FHA Loan Rates, Closing Costs & Stats

PENSACOLA-FERRY PASS-BRENT, 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.

Pensacola's 187 lenders originated 2,506 FHA loans during 2021. The total origination value was $532,510,000, with an average FHA loan value of $212,494.

Pensacola FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Pensacola averaged 6.55% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Pensacola's average FHA mortgage closing costs are $6,435.

The average rate for the prior week (2022-11-25) was 6.27% and one month ago for the week of 2022-10-28, the average rate was 6.51%.

The average rate one year ago was 3.44%.

For refis of the same type during the week of 2022-12-02, the average rate was 5.93%.

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

Pensacola 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 Pensacola level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 267 2.80% $6,339
THE MORTGAGE FIRM, INC. 188 3.23% $6,942
UNIVERSITY LENDING GROUP, LLC 133 3.02% $7,123
AMERICAN MORTGAGE SERVICE COMPANY 96 3.17% $7,820
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 89 3.41% $6,896
DHI MORTGAGE COMPANY, LTD. 68 2.74% $8,249
PENNYMAC LOAN SERVICES, LLC 56 3.08% $5,389
Mr. Cooper ( Nationstar Mortgage ) 54 3.37% $4,161
UNITED WHOLESALE MORTGAGE, LLC 53 2.75% $7,749
PRIMARY RESIDENTIAL MORTGAGE, INC. 51 3.52% $8,079
FIDELITY BANK 50 3.34% $8,404
LAKEVIEW LOAN SERVICING, LLC 50 3.09% $4,273
FREEDOM MORTGAGE CORPORATION 48 2.99% $5,143
LOANDEPOT.COM, LLC 45 3.33% $7,983
INLANTA MORTGAGE, INC. 44 3.25% $7,281
CALIBER HOME LOANS, INC. 41 2.97% $6,760
FIRST COMMUNITY MORTGAGE, INC. 39 3.18% $6,746
BROKER SOLUTIONS, INC. 38 3.21% $7,845
SOUTHEAST MORTGAGE OF GEORGIA, INC. 38 3.01% $8,294
EVERETT FINANCIAL, INC. 36 3.66% $5,798
PRIMELENDING, A PLAINSCAPITAL COMPANY 35 3.30% $7,778
Hometown Lenders, Inc. 30 3.40% $8,635
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 29 3.15% $7,739
Citizens Bank 24 2.75% $6,317
Regions Bank 23 2.85% $7,367
HOME POINT FINANCIAL CORPORATION 21 3.10% $7,726
AMERISAVE MORTGAGE CORPORATION 19 3.01% $7,914
HOMETRUST MORTGAGE COMPANY 18 2.90% $7,205
VILLAGE CAPITAL MORTGAGE 18 3.01% $2,016
Carrington Mortgage Services, LLC 17 3.44% $6,732
FBC MORTGAGE, LLC 17 3.20% $9,234
LOANPAL, LLC 15 2.73% $7,318
Hometown Equity Mortgage, LLC 14 3.57% $9,877
NEWREZ LLC 14 3.09% $5,952
Synovus Bank 13 2.97% $7,423
A Mortgage Boutique, LLC 13 2.76% $6,292
AmeriHome Mortgage Company, LLC 12 2.91% $4,419
DSLD MORTGAGE, LLC 12 2.45% $6,152
Mortgage Research Center, LLC 11 3.03% $6,514
CMG MORTGAGE, INC. 11 3.07% $7,655
Equity Prime Mortgage LLC 11 3.72% $7,175
Centennial Bank 11 2.72% $7,053
CROSSCOUNTRY MORTGAGE, LLC 10 3.04% $8,954
KELLER MORTGAGE, LLC 10 2.94% $6,362
Renasant Bank 9 3.01% $7,007
HOMEBRIDGE FINANCIAL SERVICES, INC. 9 3.19% $8,638
GUILD MORTGAGE COMPANY 9 3.44% $9,234
Ixonia Bank 9 3.47% $8,984
Flagstar Bank, FSB 8 2.91% $8,103
Lakeview Community Capital, LLC 8 2.89% $5,073
CANOPY MORTGAGE, LLC 8 2.87% $8,234
First Guaranty Mortgage Corporation 7 3.21% $10,425
DAS Acquisition Company, LLC 7 3.24% $6,688
Nations Lending Corporation 7 3.23% $8,551
Bank of England 7 3.36% $11,229
Truist 7 2.95% $8,539
MORTGAGE ONE OF THE SOUTH, INC. 6 2.40% $5,064
Waterstone Mortgage Corporation 6 3.58% $8,582
Beach Community Mortgage Services, Inc. 5 2.75% $9,362
Ameris Bank 5 2.78% $7,528
Bank of America 5 2.85% $3,772
Barrington Bank & Trust Company, N.A. 5 3.38% $8,058
EMBRACE HOME LOANS, INC. 5 3.15% $8,378
GUARANTEED RATE AFFINITY, LLC 5 3.08% $9,365
HOMESIDE FINANCIAL, LLC 5 3.15% $9,799
Trustmark National Bank 5 2.60% $6,934
LEADERONE FINANCIAL CORPORATION 4 3.13% $10,151
INTERLINC MORTGAGE SERVICES, LLC 4 2.97% $5,818
GMFS LLC 4 3.00% $7,065
GUARANTEED RATE, INC. 4 3.16% $7,977
MORIA DEVELOPMENT, INC. 4 3.94% $9,262
Hancock Whitney Bank 4 2.72% $6,289
CERTAINTY HOME LOANS, LLC 4 3.25% $6,214
SUN WEST MORTGAGE COMPANY, INC. 4 3.44% $8,748
PLANET HOME LENDING, LLC 3 3.08% $7,671
Paramount Residential Mortgage Group, Inc. 3 3.50% $7,859
OCEANSIDE MORTGAGE COMPANY 3 2.79% $3,113
VANDERBILT MORTGAGE AND FINANCE, INC. 3 3.17% $7,698
MUTUAL OF OMAHA MORTGAGE, INC. 3 3.08% $5,580
M&T Bank 3 2.79% $9,329
AMERICAN PACIFIC MORTGAGE CORPORATION 3 3.08% $7,736
LOANLEADERS OF AMERICA, INC. 3 3.13% $11,726
HAMILTON HOME LOANS, INC. 3 3.21% $9,287
LAND HOME FINANCIAL SERVICES, INC. 3 3.67% $8,150
INLAND BANK & TRUST 3 3.63% $10,253
Colonial Savings, F.A. 3 3.25% $8,504
FirstBank 3 2.88% $7,416
STEARNS LENDING, LLC 3 3.29% $6,082
South State Bank 3 2.96% $8,492
LIBERTY HOME MORTGAGE CORPORATION 3 3.46% $8,873
SOUTHPOINT FINANCIAL SERVICES, INC. 2 3.19% $7,166
HANCOCK MORTGAGE PARTNERS, LLC 2 3.25% $8,135
ENVOY MORTGAGE, LTD 2 3.31% $6,173
HOMESTAR FINANCIAL CORPORATION 2 2.56% $6,924
DELMAR FINANCIAL COMPANY 2 3.13% $8,642
InterContinental Capital Group, Inc 2 2.44% $8,704
Colten Mortgage, LLC 2 3.88% $10,155
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 4.06% $10,569
CHURCHILL MORTGAGE CORPORATION 2 3.00% $7,251
MICHIGAN MUTUAL, INC. 2 3.00% $7,921
CBM Mortgage, Inc. 2 2.88% $6,940
MOVEMENT MORTGAGE, LLC 2 3.31% $7,715
MSA MORTGAGE, LLC 2 3.06% $8,255
Bell Bank 2 2.88% $8,064
OCMBC, INC. 2 3.25% $9,633
OPEN MORTGAGE, LLC 2 3.19% $7,485
POLARIS HOME FUNDING CORP. 2 3.13% $11,405
Progress Bank and Trust 2 2.56% $7,893
RESIDENTIAL BANCORP. 2 3.06% $5,895
RUOFF MORTGAGE COMPANY, INC. 2 3.38% $6,741
SUCCESS MORTGAGE PARTNERS, INC. 2 3.19% $8,060
TOWNE MORTGAGE COMPANY 2 3.06% $5,452
AMERICAN FINANCING CORPORATION 2 3.06% $9,366
AMERICAN FINANCIAL NETWORK, INC. 2 3.13% $10,893
U.S. Bank 2 2.69% $6,680
FIRST EQUITY MORTGAGE BANKERS, INC. 2 3.56% $5,609
Gulf Winds Credit Union 1 3.00% $4,431
MORTGAGE FINANCIAL SERVICES, LLC 1 2.50% $9,209
TOP FLITE FINANCIAL, INC. 1 3.25% $14,174
BOKF 1 3.50% $6,391
Financial Freedom Mortgage, LLC 1 3.88% $10,534
BETTER MORTGAGE CORPORATION 1 2.25% $10,315
VAN DYK MORTGAGE CORPORATION 1 3.63% $7,808
EQUITY RESOURCES, INC. 1 2.75% $10,684
GUARANTY HOME MORTGAGE CORPORATION 1 3.63% $6,410
NATIONS DIRECT MORTGAGE, LLC 1 3.75% $6,647
Wells Fargo Bank 1 4.13% $4,487
NATIONS RELIABLE LENDING, LLC 1 4.25% $11,166
1ST SIGNATURE LENDING, LLC 1 3.25% $9,856
AMCAP MORTGAGE, LTD. 1 4.38% $8,316
Tyndall Federal Credit Union 1 2.75% $6,941
UNION HOME MORTGAGE CORP. 1 3.25% $10,074
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 3.75% $9,142
PANORAMA MORTGAGE GROUP, LLC 1 3.25% $11,950
GREAT WESTERN FINANCIAL SERVICES, INC. 1 3.00% $9,124
BAY EQUITY LLC 1 2.88% $5,475
Peoples Bank 1 3.00% $9,085
PILGRIM MORTGAGE LLC 1 3.13% $7,077
PINNACLE LENDING GROUP, INC. 1 3.88% $7,261
Goldwater Bank, N.A. 1 3.38% $7,108
PLAZA HOME MORTGAGE, INC. 1 2.63% $6,529
United Fidelity Funding Corp. 1 3.88% $7,530
PREFERRED LENDING SERVICES, LLC 1 3.63% $5,441
BancorpSouth Bank 1 3.13% $6,660
Austin Capital Bank SSB 1 3.13% $9,771
AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $8,184
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.50% $4,367
ANGEL OAK HOME LOANS LLC 1 3.00% $10,233
AMERIFIRST FINANCIAL CORPORATION 1 3.75% $6,866
UNIVERSAL LENDING CORPORATION 1 4.13% $11,644
Residential Mortgage Solutions, Inc. 1 2.99% $12,113
ROYAL UNITED MORTGAGE LLC 1 3.25% $5,423
First Community Bank 1 2.75% $13,969
Sierra Pacific Mortgage Company, Inc. 1 2.88% $11,929
SIGNATURE MORTGAGE CORPORATION 1 3.88% $5,184
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 2.88% $8,568
First Federal Bank 1 2.88% $4,814
George Mason Mortgage, LLC 1 3.25% $8,221
SOUTHWEST FUNDING, LP 1 3.75% $7,410
SOUTHWEST STAGE FUNDING, LLC 1 3.25% $7,599
SOVEREIGN LENDING GROUP INCORPORATED 1 3.25% $10,064
GENEVA FINANCIAL, LLC 1 3.13% $8,832
STOCKTON MORTGAGE CORPORATION 1 3.00% $6,312
First Federal Bank, A FSB 1 2.88% $7,269
Sunflower Bank 1 2.99% $6,215
EVANSVILLE TEACHERS 1 2.63% $9,301
Fifth Third Bank 1 2.75% $9,192
INTELLILOAN, INC. 1 2.25% $9,183
INTERSTATE HOME LOAN CENTER, INC. 1 2.75% $10,266
The Central Trust Bank 1 2.88% $7,229
JPMorgan Chase Bank 1 3.75% $0
COMPASS MORTGAGE, INC. 1 3.13% $6,407
The Federal Savings Bank 1 2.88% $10,106
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.00% $15,395
Consumer First Mortgage, Inc. 1 2.50% $8,861
CONTOUR MORTGAGE CORPORATION 1 3.00% $5,955
LENDING 3, INC. 1 2.75% $9,731
Lend Smart Mortgage, LLC 1 3.13% $6,465
LENDUS, LLC 1 3.63% $11,177
Alcova Mortgage LLC 1 2.88% $3,590
DIRECT LENDERS, LLC 1 3.00% $8,485
HALLMARK HOME MORTGAGE, LLC 1 3.25% $5,461
Century Mortgage Company DBA Century Lending Company 1 3.25% $10,576
TJC Mortgage, Inc. 1 2.88% $9,461
MID AMERICA MORTGAGE, INC. 1 3.13% $8,590
Midwest Mortgage Associates Corporation 1 2.75% $6,284
MILEND, INC. 1 2.88% $8,966

The top Pensacola FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 267 FHA loans originated. Their average total fees are $6,339, which is $603 lower than the next largest lender, THE MORTGAGE FIRM, INC..

The lowest fee Pensacola FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,016), Mr. Cooper ( Nationstar Mortgage ) ($4,161), LAKEVIEW LOAN SERVICING, LLC ($4,273), AmeriHome Mortgage Company, LLC ($4,419) and FREEDOM MORTGAGE CORPORATION ($5,143).

The lowest rate Pensacola FHA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC (2.45%), Centennial Bank (2.72%), LOANPAL, LLC (2.73%), DHI MORTGAGE COMPANY, LTD. (2.74%) and Citizens Bank (2.75%).

Pensacola FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PENSACOLA-FERRY PASS-BRENT, FL ESCAMBIA 2022 $420,680 $538,650 $651,050 $809,150
PENSACOLA-FERRY PASS-BRENT, FL SANTA ROSA 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Pensacola (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 $250,000 (10.8%) $335,823 (9.8%) 0.93 2,377
2018-02-01 $250,000 (9.7%) $334,438 (7.2%) 0.91 2,422
2018-03-01 $258,850 (11.1%) $341,007 (6.5%) 0.91 2,446
2018-04-01 $261,400 (9.7%) $350,170 (6.2%) 0.89 2,456
2018-05-01 $264,900 (10.0%) $348,316 (0.6%) 0.88 2,600
2018-06-01 $261,900 (8.3%) $343,087 (3.5%) 0.87 2,631
2018-07-01 $260,250 (6.2%) $341,151 (4.5%) 0.87 2,728
2018-08-01 $257,000 (5.2%) $335,433 (3.6%) 0.86 2,709
2018-09-01 $258,800 (4.4%) $337,477 (1.7%) 0.87 2,639
2018-10-01 $257,675 (5.3%) $340,007 (4.0%) 0.87 2,607
2018-11-01 $259,000 (6.3%) $339,468 (3.1%) 0.88 2,577
2018-12-01 $254,900 (2.0%) $338,325 (0.5%) 0.88 2,540
2019-01-01 $255,250 (2.1%) $339,833 (1.2%) 0.88 2,434
2019-02-01 $254,950 (2.0%) $342,641 (2.5%) 0.86 2,456
2019-03-01 $263,468 (1.8%) $355,858 (4.4%) 0.86 2,446
2019-04-01 $271,075 (3.7%) $374,689 (7.0%) 0.86 2,387
2019-05-01 $275,450 (4.0%) $376,664 (8.1%) 0.86 2,402
2019-06-01 $275,900 (5.4%) $383,653 (11.8%) 0.86 2,352
2019-07-01 $279,000 (7.2%) $387,788 (13.7%) 0.87 2,315
2019-08-01 $278,536 (8.4%) $387,517 (15.5%) 0.88 2,300
2019-09-01 $276,491 (6.8%) $388,286 (15.1%) 0.88 2,291
2019-10-01 $274,900 (6.7%) $388,109 (14.2%) 0.89 2,284
2019-11-01 $274,900 (6.1%) $389,352 (14.7%) 0.90 2,218
2019-12-01 $270,475 (6.1%) $390,201 (15.3%) 0.90 2,156
2020-01-01 $269,925 (5.8%) $392,212 (15.4%) 0.90 2,058
2020-02-01 $271,900 (6.7%) $392,119 (14.4%) 0.89 2,015
2020-03-01 $283,995 (7.8%) $398,596 (12.0%) 0.89 1,972
2020-04-01 $279,975 (3.3%) $391,293 (4.4%) 0.88 2,043
2020-05-01 $289,000 (4.9%) $404,646 (7.4%) 0.88 1,930
2020-06-01 $295,836 (7.2%) $425,532 (10.9%) 0.87 1,579
2020-07-01 $291,900 (4.6%) $428,811 (10.6%) 0.85 1,491
2020-08-01 $289,000 (3.8%) $441,543 (13.9%) 0.83 1,408
2020-09-01 $289,900 (4.9%) $422,871 (8.9%) 0.83 1,274
2020-10-01 $285,000 (3.7%) $433,895 (11.8%) 0.82 1,183
2020-11-01 $281,825 (2.5%) $442,957 (13.8%) 0.82 1,142
2020-12-01 $290,005 (7.2%) $441,785 (13.2%) 0.86 1,107
2021-01-01 $300,000 (11.1%) $443,719 (13.1%) 0.90 1,033
2021-02-01 $317,450 (16.8%) $475,931 (21.4%) 0.92 819
2021-03-01 $338,500 (19.2%) $500,414 (25.5%) 0.96 765
2021-04-01 $336,250 (20.1%) $503,517 (28.7%) 0.91 786
2021-05-01 $336,900 (16.6%) $499,488 (23.4%) 0.89 844
2021-06-01 $339,500 (14.8%) $497,812 (17.0%) 0.89 938
2021-07-01 $335,000 (14.8%) $503,770 (17.5%) 0.88 1,086
2021-08-01 $349,900 (21.1%) $509,098 (15.3%) 0.93 1,165
2021-09-01 $347,000 (19.7%) $516,002 (22.0%) 0.93 1,224
2021-10-01 $350,000 (22.8%) $519,706 (19.8%) 0.93 1,242
2021-11-01 $356,213 (26.4%) $517,520 (16.8%) 0.95 1,216
2021-12-01 $362,450 (25.0%) $530,407 (20.1%) 0.98 1,102
2022-01-01 $369,900 (23.3%) $526,163 (18.6%) 1.00 991
2022-02-01 $372,425 (17.3%) $566,431 (19.0%) 0.97 760
2022-03-01 $375,483 (10.9%) $551,871 (10.3%) 0.94 757
2022-04-01 $380,000 (13.0%) $553,022 (9.8%) 0.91 811
2022-05-01 $389,175 (15.5%) $549,942 (10.1%) 0.89 1,037
2022-06-01 $391,950 (15.5%) $555,982 (11.7%) 0.87 1,301
2022-07-01 $394,900 (17.9%) $544,464 (8.1%) 0.89 1,752
2022-08-01 $395,151 (12.9%) $553,622 (8.8%) 0.91 1,825
2022-09-01 $392,000 (13.0%) $547,186 (6.0%) 0.92 1,823
2022-10-01 $371,250 (6.1%) $502,769 (-3.3%) 0.87 2,550
2022-11-01 $372,400 (4.5%) $498,126 (-3.8%) 0.90 2,574
Pensacola's median listing price for 2022-11-01 was $372,400, a difference of $16,187 (4.5%) versus the prior year and $1,150 versus the prior month.

Pensacola's median listing price comes in at 90% of the national average.

Pensacola's average listing price for 2022-11-01 was $498,126, a difference of $-19,394 (-3.8%) versus the prior year and $-4,643 versus the prior month.

For the 2022-11-01 period, Pensacola had 2,574 MLS listings, a difference of 24 listings (1%) versus the prior month and 1,358 listings (112%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Pensacola (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 92 days 1,961 sqft
2018-02-01 87 days 1,942 sqft
2018-03-01 69 days 1,983 sqft
2018-04-01 66 days 1,997 sqft
2018-05-01 65 days 2,000 sqft
2018-06-01 65 days 1,978 sqft
2018-07-01 72 days 1,981 sqft
2018-08-01 75 days 1,955 sqft
2018-09-01 81 days 1,950 sqft
2018-10-01 84 days 1,959 sqft
2018-11-01 89 days 1,969 sqft
2018-12-01 93 days 1,950 sqft
2019-01-01 97 days 1,945 sqft
2019-02-01 93 days 1,925 sqft
2019-03-01 79 days 1,954 sqft
2019-04-01 61 days 2,000 sqft
2019-05-01 56 days 2,016 sqft
2019-06-01 65 days 2,009 sqft
2019-07-01 68 days 2,005 sqft
2019-08-01 68 days 2,008 sqft
2019-09-01 68 days 2,008 sqft
2019-10-01 67 days 2,008 sqft
2019-11-01 71 days 2,005 sqft
2019-12-01 81 days 1,971 sqft
2020-01-01 84 days 1,973 sqft
2020-02-01 67 days 1,986 sqft
2020-03-01 59 days 2,027 sqft
2020-04-01 63 days 1,989 sqft
2020-05-01 66 days 1,990 sqft
2020-06-01 63 days 1,991 sqft
2020-07-01 53 days 1,959 sqft
2020-08-01 50 days 1,915 sqft
2020-09-01 52 days 1,904 sqft
2020-10-01 53 days 1,900 sqft
2020-11-01 51 days 1,850 sqft
2020-12-01 47 days 1,859 sqft
2021-01-01 50 days 1,874 sqft
2021-02-01 44 days 1,890 sqft
2021-03-01 24 days 1,979 sqft
2021-04-01 22 days 1,897 sqft
2021-05-01 18 days 1,850 sqft
2021-06-01 22 days 1,850 sqft
2021-07-01 24 days 1,848 sqft
2021-08-01 28 days 1,855 sqft
2021-09-01 30 days 1,855 sqft
2021-10-01 34 days 1,849 sqft
2021-11-01 39 days 1,858 sqft
2021-12-01 49 days 1,913 sqft
2022-01-01 50 days 1,900 sqft
2022-02-01 27 days 1,923 sqft
2022-03-01 23 days 1,900 sqft
2022-04-01 20 days 1,892 sqft
2022-05-01 21 days 1,897 sqft
2022-06-01 25 days 1,888 sqft
2022-07-01 30 days 1,903 sqft
2022-08-01 41 days 1,935 sqft
2022-09-01 48 days 1,940 sqft
2022-10-01 54 days 1,853 sqft
2022-11-01 57 days 1,854 sqft
Pensacola's median listing age (time on market) for 2022-11-01 was 57 days. This is 45% longer than the same period one year ago.

Pensacola's median square footage for active listings during the 2022-11-01 period was 1,854 sqft. One year prior, the average listing was 1,858 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).