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 162 lenders originated 1,765 FHA loans during 2023. The total origination value was $444,765,000, with an average FHA loan value of $251,992.

Pensacola FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Pensacola averaged 6.33% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

Pensacola's average FHA mortgage closing costs are $7,646.

The average rate for the prior week (2024-06-07) was 6.62% and one month ago for the week of 2024-05-10, the average rate was 6.6%.

The average rate one year ago was 6.56%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.95%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 185 5.36% $8,505
QUICKEN LOANS, LLC 156 6.21% $11,521
UNITED WHOLESALE MORTGAGE, LLC 136 6.27% $12,058
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 108 6.44% $11,509
THE MORTGAGE FIRM, INC. 64 6.89% $10,874
MOVEMENT MORTGAGE, LLC 60 6.71% $10,004
SWBC MORTGAGE CORPORATION 51 6.66% $8,855
EAGLE HOME MORTGAGE, LLC 39 5.23% $10,520
BROKER SOLUTIONS, INC. 34 6.49% $10,753
University Bank 32 6.47% $11,984
CROSSCOUNTRY MORTGAGE, LLC 29 6.64% $9,636
THRIVE MORTGAGE, LLC 28 6.70% $10,860
Regions Bank 25 6.24% $9,687
LOANDEPOT.COM, LLC 25 6.69% $11,161
FIDELITY BANK 23 6.61% $10,226
PENNYMAC LOAN SERVICES, LLC 18 6.30% $11,710
UNION HOME MORTGAGE CORP. 18 7.07% $13,180
PRIMARY RESIDENTIAL MORTGAGE, INC. 18 6.90% $11,113
HOMESTAR FINANCIAL CORPORATION 17 6.35% $9,334
HOMETRUST MORTGAGE COMPANY 15 6.66% $10,911
CARDINAL FINANCIAL 15 5.87% $9,937
Paramount Residential Mortgage Group, Inc. 13 6.32% $10,124
NEWREZ LLC 13 6.67% $11,259
SOUTHEAST MORTGAGE OF GEORGIA, INC. 13 6.63% $12,528
Mr. Cooper ( Nationstar Mortgage ) 13 6.14% $15,133
Synovus Bank 13 6.67% $8,758
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 6.75% $9,741
GUARANTEED RATE AFFINITY, LLC 12 6.50% $12,701
FREEDOM MORTGAGE CORPORATION 11 6.77% $15,192
MUTUAL OF OMAHA MORTGAGE, INC. 11 6.55% $13,095
Ameris Bank 11 6.30% $9,499
INSPIRE HOME LOANS INC. 11 5.74% $9,998
AMERISAVE MORTGAGE CORPORATION 10 6.09% $16,585
DSLD MORTGAGE, LLC 9 6.05% $9,104
Equity Prime Mortgage LLC 9 6.53% $12,060
CMG MORTGAGE, INC. 9 6.89% $10,950
Waterstone Mortgage Corporation 9 6.76% $10,918
LAKEVIEW LOAN SERVICING, LLC 8 5.98% $11,311
ZILLOW HOME LOANS, LLC 8 6.52% $8,877
MORTGAGE SOLUTIONS OF COLORADO, LLC 8 7.31% $10,897
Mortgage Research Center, LLC 8 6.48% $7,185
Century Mortgage Company DBA Century Lending Company 8 5.76% $13,161
FBC MORTGAGE, LLC 8 6.11% $8,719
Ixonia Bank 8 6.52% $9,845
Carrington Mortgage Services, LLC 7 5.84% $14,091
CANOPY MORTGAGE, LLC 7 6.89% $13,303
M&T Bank 6 6.46% $8,483
GUARANTEED RATE, INC. 6 6.52% $12,021
MICHIGAN MUTUAL, INC. 6 5.69% $16,195
FIRST COMMUNITY MORTGAGE, INC. 6 6.92% $10,206
Plains Commerce Bank 6 6.17% $13,181
AMERICAN FINANCIAL NETWORK, INC. 5 7.00% $16,006
Flagstar Bank, FSB 5 6.63% $13,652
Bank of America 5 6.33% $6,015
PLANET HOME LENDING, LLC 5 6.33% $11,966
EVERETT FINANCIAL, INC. 5 7.05% $9,134
LOANPAL, LLC 5 5.73% $11,384
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 5 6.88% $10,081
Citizens Bank 5 6.40% $6,810
DRAPER AND KRAMER MORTGAGE CORP. 4 6.56% $10,152
DAS Acquisition Company, LLC 4 7.28% $13,707
STOCKTON MORTGAGE CORPORATION 4 7.09% $10,641
SOUTHPOINT FINANCIAL SERVICES, INC. 4 7.06% $7,108
Prosperity Home Mortgage, LLC 4 6.72% $10,248
SUN WEST MORTGAGE COMPANY, INC. 4 5.97% $15,184
Truist 3 6.33% $10,644
TOWNE MORTGAGE COMPANY 3 6.54% $14,378
Towne Bank 3 5.88% $12,499
ACADEMY MORTGAGE CORPORATION 3 6.83% $13,531
AMERICAN FINANCING CORPORATION 3 6.33% $14,420
TOP FLITE FINANCIAL, INC. 3 7.08% $17,019
OPEN MORTGAGE, LLC 3 6.00% $11,605
United Fidelity Funding Corp. 3 6.50% $11,252
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.79% $10,181
Centennial Bank 3 6.96% $9,665
CONTOUR MORTGAGE CORPORATION 3 6.25% $13,346
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.92% $12,741
NETWORK CAPITAL FUNDING CORPORATION 3 6.13% $11,708
KELLER MORTGAGE, LLC 3 5.58% $9,729
Nations Lending Corporation 3 7.00% $7,868
EMBRACE HOME LOANS, INC. 3 6.58% $10,403
Bank of England 3 6.33% $12,567
1ST SIGNATURE LENDING, LLC 2 7.00% $8,437
AMERICAN FINANCIAL RESOURCES, INC. 2 6.50% $6,760
AmeriHome Mortgage Company, LLC 2 5.63% $12,424
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 2 6.44% $10,630
Evolve Bank & Trust 2 6.69% $10,904
GUILD MORTGAGE COMPANY 2 6.63% $12,942
Hancock Whitney Bank 2 5.69% $13,206
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.19% $20,108
LEADERONE FINANCIAL CORPORATION 2 6.56% $11,815
LIBERTY HOME MORTGAGE CORPORATION 2 6.88% $12,735
MILEND, INC. 2 6.88% $12,920
MORTGAGE ONE OF THE SOUTH, INC. 2 5.75% $8,799
NFM, INC. 2 7.88% $9,462
Pen Air Federal Credit Union 2 6.75% $6,384
PENTAGON FEDERAL CREDIT UNION 2 5.56% $9,126
PHH Mortgage Corporation 2 6.56% $14,902
Princeton Mortgage Corporation 2 7.56% $9,002
RELIANCE FIRST CAPITAL, LLC 2 6.25% $13,298
ROYAL UNITED MORTGAGE LLC 2 6.38% $11,790
RUOFF MORTGAGE COMPANY, INC. 2 7.25% $9,056
SUCCESS MORTGAGE PARTNERS, INC. 2 6.63% $12,485
The Federal Savings Bank 2 5.63% $15,162
Hometown Equity Mortgage, LLC 1 7.75% $14,971
Assurance Financial Group, L.L.C. 1 5.63% $14,216
Northpointe Bank 1 6.75% $10,507
NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.25% $6,940
OAKTREE FUNDING CORP. 1 5.63% $21,012
OCMBC, INC. 1 6.00% $13,484
HOMESPIRE MORTGAGE CORPORATION 1 6.75% $12,050
HOMESIDE FINANCIAL, LLC 1 6.25% $6,543
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.50% $12,928
GSF Mortgage Corporation 1 5.63% $9,946
AMCAP MORTGAGE, LTD. 1 7.13% $9,413
VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.88% $9,774
Goldwater Bank, N.A. 1 7.13% $14,834
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.00% $13,945
PLAZA HOME MORTGAGE, INC. 1 7.25% $18,006
PNC Bank 1 7.38% $9,152
Preston Home Loans Inc 1 6.75% $10,158
GENEVA FINANCIAL, LLC 1 6.13% $5,988
GARDNER FINANCIAL SERVICES, LTD. 1 6.75% $9,048
VILLAGE CAPITAL MORTGAGE 1 6.50% $6,847
First Federal Bank 1 5.63% $10,282
FIRST EQUITY MORTGAGE BANKERS, INC. 1 7.13% $10,152
FIRST COLONY MORTGAGE CORPORATION 1 8.25% $10,942
Wallick & Volk, Inc. 1 7.50% $14,618
RESIDENTIAL BANCORP 1 6.38% $9,432
ALLIED MORTGAGE GROUP, INC. 1 6.38% $10,670
WATSON MORTGAGE CORP. 1 7.00% $7,522
SeaTrust Mortgage Company 1 7.25% $9,535
ServisFirst Bank 1 6.25% $9,554
SmartBank 1 7.63% $7,905
FirstBank 1 6.63% $15,868
Fifth Third Bank 1 7.13% $10,244
South State Bank 1 6.50% $6,981
Fidelity Bank 1 7.13% $11,208
Wells Fargo Bank 1 6.63% $6,084
Encompass Lending Group, LP 1 7.25% $14,445
EMM LOANS LLC 1 5.88% $14,353
CHURCHILL MORTGAGE CORPORATION 1 6.75% $9,986
AHL FUNDING 1 7.63% $14,861
The Freedom Bank of Virginia 1 6.00% $11,702
CBM Mortgage, Inc. 1 6.50% $15,574
Capital Bank 1 7.13% $9,001
BNC National Bank 1 5.63% $9,225
Blue Ridge Bank 1 6.25% $5,490
Bell Bank 1 7.25% $11,064
BAY EQUITY LLC 1 5.75% $8,298
Trustmark National Bank 1 5.75% $9,131
MORTGAGE INVESTORS GROUP, INC. 1 5.75% $9,329
BancorpSouth 1 6.75% $8,695
Mortgage Assurance Inc. 1 5.63% $16,004
MORIA DEVELOPMENT, INC. 1 6.50% $15,749
Magnolia Bank 1 7.00% $12,562
LENDING CAPITAL GROUP Inc 1 6.63% $17,296
Legends Bank 1 7.00% $11,479
Lakeview Community Capital, LLC 1 6.75% $6,619
NATIONS DIRECT MORTGAGE, LLC 1 7.75% $10,897
LADERA LENDING, INC. 1 6.13% $14,087
JPMorgan Chase Bank 1 6.75% $5,566

The top Pensacola FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 185 FHA loans originated. Their average total fees are $8,505, which is $3,016 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Pensacola FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($8,505), Synovus Bank ($8,758), SWBC MORTGAGE CORPORATION ($8,855), HOMESTAR FINANCIAL CORPORATION ($9,334) and Ameris Bank ($9,499).

The lowest rate Pensacola FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.23%), DHI MORTGAGE COMPANY, LTD. (5.36%), INSPIRE HOME LOANS INC. (5.74%), CARDINAL FINANCIAL (5.87%) and AMERISAVE MORTGAGE CORPORATION (6.09%).

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
PENSACOLA-FERRY PASS-BRENT, FL ESCAMBIA 2023 $472,030 $604,400 $730,525 $907,900
PENSACOLA-FERRY PASS-BRENT, FL SANTA ROSA 2023 $472,030 $604,400 $730,525 $907,900

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%) $335,503 (9.7%) 0.93 2,375
2018-02-01 $250,000 (9.7%) $334,126 (7.1%) 0.91 2,420
2018-03-01 $258,650 (11.0%) $340,708 (6.4%) 0.91 2,444
2018-04-01 $261,301 (9.7%) $349,888 (6.2%) 0.89 2,454
2018-05-01 $264,900 (10.1%) $348,056 (0.6%) 0.88 2,598
2018-06-01 $261,899 (8.4%) $342,823 (3.4%) 0.87 2,629
2018-07-01 $260,000 (6.1%) $340,897 (4.5%) 0.87 2,726
2018-08-01 $256,950 (5.2%) $335,171 (3.5%) 0.86 2,707
2018-09-01 $258,725 (4.4%) $337,210 (1.7%) 0.87 2,637
2018-10-01 $257,450 (5.2%) $339,736 (4.0%) 0.87 2,605
2018-11-01 $259,000 (6.3%) $339,240 (3.0%) 0.88 2,575
2018-12-01 $254,700 (1.9%) $338,117 (0.5%) 0.88 2,539
2019-01-01 $255,000 (2.0%) $339,641 (1.2%) 0.88 2,433
2019-02-01 $254,950 (2.0%) $342,453 (2.5%) 0.86 2,455
2019-03-01 $263,329 (1.8%) $355,711 (4.4%) 0.86 2,443
2019-04-01 $270,925 (3.7%) $374,519 (7.0%) 0.86 2,384
2019-05-01 $275,225 (3.9%) $376,497 (8.2%) 0.86 2,397
2019-06-01 $275,900 (5.4%) $383,440 (11.9%) 0.86 2,345
2019-07-01 $279,000 (7.3%) $387,600 (13.7%) 0.87 2,308
2019-08-01 $278,536 (8.4%) $387,367 (15.6%) 0.88 2,293
2019-09-01 $276,491 (6.9%) $388,133 (15.1%) 0.88 2,283
2019-10-01 $274,900 (6.8%) $387,961 (14.2%) 0.89 2,276
2019-11-01 $274,900 (6.1%) $389,208 (14.7%) 0.90 2,210
2019-12-01 $270,000 (6.0%) $390,041 (15.4%) 0.90 2,148
2020-01-01 $269,900 (5.8%) $392,387 (15.5%) 0.90 2,051
2020-02-01 $271,800 (6.6%) $392,301 (14.6%) 0.89 2,008
2020-03-01 $283,973 (7.8%) $398,620 (12.1%) 0.89 1,963
2020-04-01 $279,950 (3.3%) $391,287 (4.5%) 0.88 2,034
2020-05-01 $289,000 (5.0%) $404,731 (7.5%) 0.88 1,921
2020-06-01 $295,731 (7.2%) $425,737 (11.0%) 0.87 1,570
2020-07-01 $291,900 (4.6%) $429,399 (10.8%) 0.85 1,483
2020-08-01 $289,000 (3.8%) $442,223 (14.2%) 0.83 1,400
2020-09-01 $289,900 (4.9%) $423,539 (9.1%) 0.83 1,266
2020-10-01 $285,000 (3.7%) $434,665 (12.0%) 0.82 1,175
2020-11-01 $281,825 (2.5%) $443,803 (14.0%) 0.82 1,134
2020-12-01 $290,005 (7.4%) $442,666 (13.5%) 0.86 1,099
2021-01-01 $300,000 (11.2%) $444,641 (13.3%) 0.90 1,025
2021-02-01 $317,500 (16.8%) $477,274 (21.7%) 0.92 811
2021-03-01 $339,450 (19.5%) $502,029 (25.9%) 0.96 757
2021-04-01 $337,725 (20.6%) $505,060 (29.1%) 0.91 778
2021-05-01 $339,000 (17.3%) $500,759 (23.7%) 0.90 837
2021-06-01 $341,193 (15.4%) $498,924 (17.2%) 0.90 931
2021-07-01 $335,750 (15.0%) $504,602 (17.5%) 0.89 1,080
2021-08-01 $349,900 (21.1%) $509,639 (15.2%) 0.93 1,160
2021-09-01 $347,225 (19.8%) $516,864 (22.0%) 0.93 1,216
2021-10-01 $350,000 (22.8%) $520,877 (19.8%) 0.93 1,234
2021-11-01 $356,925 (26.7%) $518,612 (16.9%) 0.95 1,208
2021-12-01 $362,875 (25.1%) $531,853 (20.2%) 0.98 1,094
2022-01-01 $369,900 (23.3%) $526,080 (18.3%) 1.00 983
2022-02-01 $374,950 (18.1%) $568,539 (19.1%) 0.98 752
2022-03-01 $375,062 (10.5%) $552,380 (10.0%) 0.94 749
2022-04-01 $380,833 (12.8%) $554,640 (9.8%) 0.91 803
2022-05-01 $389,967 (15.0%) $551,552 (10.1%) 0.89 1,029
2022-06-01 $392,025 (14.9%) $556,851 (11.6%) 0.87 1,292
2022-07-01 $394,900 (17.6%) $544,956 (8.0%) 0.89 1,744
2022-08-01 $395,783 (13.1%) $554,168 (8.7%) 0.91 1,818
2022-09-01 $392,000 (12.9%) $548,117 (6.1%) 0.92 1,815
2022-10-01 $371,260 (6.1%) $503,247 (-3.4%) 0.87 2,542
2022-11-01 $372,400 (4.3%) $498,532 (-3.9%) 0.90 2,566
2022-12-01 $369,900 (1.9%) $497,534 (-6.5%) 0.91 2,363
2023-01-01 $384,900 (4.1%) $512,182 (-2.6%) 0.95 1,976
2023-02-01 $379,925 (1.3%) $510,048 (-10.3%) 0.92 1,814
2023-03-01 $389,675 (3.9%) $528,670 (-4.3%) 0.92 1,719
2023-04-01 $395,000 (3.7%) $541,809 (-2.3%) 0.92 1,705
2023-05-01 $399,400 (2.4%) $552,510 (0.2%) 0.91 1,699
2023-06-01 $393,769 (0.4%) $543,887 (-2.3%) 0.88 1,751
2023-07-01 $388,000 (-1.8%) $536,841 (-1.5%) 0.88 1,835
2023-08-01 $384,725 (-2.8%) $527,005 (-4.9%) 0.88 1,984
2023-09-01 $375,000 (-4.3%) $518,430 (-5.4%) 0.87 2,127
2023-10-01 $372,875 (0.4%) $515,897 (2.5%) 0.88 2,318
2023-11-01 $367,350 (-1.4%) $513,637 (3.0%) 0.87 2,466
2023-12-01 $364,900 (-1.4%) $510,492 (2.6%) 0.89 2,472
2024-01-01 $361,200 (-6.2%) $512,652 (0.1%) 0.88 2,364
2024-02-01 $365,000 (-3.9%) $516,662 (1.3%) 0.88 2,448
2024-03-01 $369,000 (-5.3%) $522,860 (-1.1%) 0.87 2,569
2024-04-01 $370,950 (-6.1%) $532,076 (-1.8%) 0.86 2,744
2024-05-01 $374,500 (-6.2%) $542,460 (-1.8%) 0.85 2,803
Pensacola's median listing price for 2024-05-01 was $374,500, a difference of $-24,900 (-6.2%) versus the prior year and $3,550 versus the prior month.

Pensacola's median listing price comes in at 85% of the national average.

Pensacola's average listing price for 2024-05-01 was $542,460, a difference of $-10,050 (-1.8%) versus the prior year and $10,384 versus the prior month.

For the 2024-05-01 period, Pensacola had 2,803 MLS listings, a difference of 59 listings (2%) versus the prior month and 1,104 listings (65%) 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 82 days 1,961 sqft
2018-02-01 75 days 1,942 sqft
2018-03-01 60 days 1,983 sqft
2018-04-01 59 days 1,997 sqft
2018-05-01 58 days 2,000 sqft
2018-06-01 60 days 1,978 sqft
2018-07-01 66 days 1,981 sqft
2018-08-01 70 days 1,955 sqft
2018-09-01 73 days 1,950 sqft
2018-10-01 75 days 1,959 sqft
2018-11-01 80 days 1,969 sqft
2018-12-01 84 days 1,950 sqft
2019-01-01 87 days 1,944 sqft
2019-02-01 82 days 1,924 sqft
2019-03-01 70 days 1,954 sqft
2019-04-01 55 days 2,000 sqft
2019-05-01 51 days 2,016 sqft
2019-06-01 59 days 2,009 sqft
2019-07-01 63 days 2,005 sqft
2019-08-01 62 days 2,008 sqft
2019-09-01 62 days 2,008 sqft
2019-10-01 60 days 2,008 sqft
2019-11-01 66 days 2,002 sqft
2019-12-01 75 days 1,968 sqft
2020-01-01 77 days 1,973 sqft
2020-02-01 63 days 1,986 sqft
2020-03-01 55 days 2,025 sqft
2020-04-01 58 days 1,988 sqft
2020-05-01 61 days 1,988 sqft
2020-06-01 56 days 1,990 sqft
2020-07-01 45 days 1,959 sqft
2020-08-01 44 days 1,915 sqft
2020-09-01 47 days 1,903 sqft
2020-10-01 48 days 1,900 sqft
2020-11-01 44 days 1,850 sqft
2020-12-01 42 days 1,857 sqft
2021-01-01 44 days 1,873 sqft
2021-02-01 36 days 1,890 sqft
2021-03-01 21 days 1,979 sqft
2021-04-01 19 days 1,897 sqft
2021-05-01 17 days 1,850 sqft
2021-06-01 20 days 1,850 sqft
2021-07-01 23 days 1,848 sqft
2021-08-01 26 days 1,855 sqft
2021-09-01 29 days 1,855 sqft
2021-10-01 32 days 1,849 sqft
2021-11-01 37 days 1,858 sqft
2021-12-01 46 days 1,913 sqft
2022-01-01 45 days 1,892 sqft
2022-02-01 24 days 1,923 sqft
2022-03-01 22 days 1,897 sqft
2022-04-01 18 days 1,892 sqft
2022-05-01 19 days 1,897 sqft
2022-06-01 24 days 1,886 sqft
2022-07-01 29 days 1,903 sqft
2022-08-01 39 days 1,932 sqft
2022-09-01 47 days 1,939 sqft
2022-10-01 53 days 1,859 sqft
2022-11-01 55 days 1,854 sqft
2022-12-01 65 days 1,873 sqft
2023-01-01 73 days 1,876 sqft
2023-02-01 65 days 1,838 sqft
2023-03-01 57 days 1,852 sqft
2023-04-01 52 days 1,873 sqft
2023-05-01 49 days 1,859 sqft
2023-06-01 47 days 1,831 sqft
2023-07-01 51 days 1,830 sqft
2023-08-01 49 days 1,830 sqft
2023-09-01 50 days 1,818 sqft
2023-10-01 54 days 1,813 sqft
2023-11-01 58 days 1,805 sqft
2023-12-01 66 days 1,787 sqft
2024-01-01 78 days 1,775 sqft
2024-02-01 72 days 1,776 sqft
2024-03-01 57 days 1,773 sqft
2024-04-01 57 days 1,782 sqft
2024-05-01 53 days 1,782 sqft
Pensacola's median listing age (time on market) for 2024-05-01 was 53 days. This is 8% longer than the same period one year ago.

Pensacola's median square footage for active listings during the 2024-05-01 period was 1,782 sqft. One year prior, the average listing was 1,859 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).