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 189 lenders originated 1,885 FHA loans during 2022. The total origination value was $467,365,000, with an average FHA loan value of $247,939.
Pensacola FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Pensacola
averaged
6.18%
for the week of 2023-05-26, compared to the national average (all FHA variants) of
6.612% for the same period.
Pensacola's average FHA mortgage closing costs are $7,075.
The average rate for the prior week (2023-05-19) was
6.05% and
one month ago for the week of 2023-04-21, the
average rate was 5.69%.
The average rate one year ago was 4.71%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.91%.
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.
The top Pensacola FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
144 FHA loans originated. Their average total fees are
$9,543, which is $512
lower than the next largest lender,
THE MORTGAGE FIRM, INC..
The lowest fee Pensacola FHA lenders (with over 10 loans originated) are
EVERETT FINANCIAL, INC. ($6,316), Citizens Bank ($7,336), LAKEVIEW LOAN SERVICING, LLC ($7,966), FIRST COMMUNITY MORTGAGE, INC. ($8,305) and NEWREZ LLC ($8,379).
The lowest rate Pensacola FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC (4.10%), PENNYMAC LOAN SERVICES, LLC (4.13%), DHI MORTGAGE COMPANY, LTD. (4.27%), Hometown Lenders, Inc. (4.27%) and HOME POINT FINANCIAL CORPORATION (4.30%).
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%) | $335,624 (9.7%) | 0.93 | 2,376 |
| 2018-02-01 | $250,000 (9.7%) | $334,245 (7.2%) | 0.91 | 2,421 |
| 2018-03-01 | $258,800 (11.1%) | $340,821 (6.4%) | 0.91 | 2,445 |
| 2018-04-01 | $261,350 (9.7%) | $349,987 (6.2%) | 0.89 | 2,455 |
| 2018-05-01 | $264,900 (10.0%) | $348,140 (0.5%) | 0.88 | 2,599 |
| 2018-06-01 | $261,900 (8.3%) | $342,910 (3.5%) | 0.87 | 2,630 |
| 2018-07-01 | $260,125 (6.2%) | $340,981 (4.5%) | 0.87 | 2,727 |
| 2018-08-01 | $256,975 (5.2%) | $335,258 (3.5%) | 0.86 | 2,708 |
| 2018-09-01 | $258,750 (4.4%) | $337,299 (1.7%) | 0.87 | 2,638 |
| 2018-10-01 | $257,563 (5.2%) | $339,825 (4.0%) | 0.87 | 2,606 |
| 2018-11-01 | $259,000 (6.3%) | $339,284 (3.0%) | 0.88 | 2,576 |
| 2018-12-01 | $254,700 (1.9%) | $338,136 (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 | $264,900 (1.8%) | $358,802 (5.3%) | 0.88 | 2,388 |
| 2019-04-01 | $270,950 (3.7%) | $374,601 (7.0%) | 0.86 | 2,377 |
| 2019-05-01 | $275,450 (4.0%) | $376,679 (8.2%) | 0.86 | 2,398 |
| 2019-06-01 | $275,900 (5.4%) | $383,811 (11.9%) | 0.86 | 2,346 |
| 2019-07-01 | $279,000 (7.3%) | $387,946 (13.8%) | 0.87 | 2,309 |
| 2019-08-01 | $284,590 (8.4%) | $395,045 (17.8%) | 0.89 | 2,272 |
| 2019-09-01 | $289,950 (6.9%) | $409,620 (21.4%) | 0.91 | 2,072 |
| 2019-10-01 | $274,900 (6.7%) | $388,351 (14.3%) | 0.89 | 2,276 |
| 2019-11-01 | $274,900 (6.1%) | $389,525 (14.8%) | 0.90 | 2,211 |
| 2019-12-01 | $270,000 (6.0%) | $390,366 (15.5%) | 0.90 | 2,149 |
| 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 | $283,995 (7.9%) | $398,949 (11.2%) | 0.89 | 1,964 |
| 2020-04-01 | $279,975 (3.3%) | $391,614 (4.5%) | 0.88 | 2,035 |
| 2020-05-01 | $289,000 (4.9%) | $405,029 (7.5%) | 0.88 | 1,922 |
| 2020-06-01 | $295,836 (7.2%) | $426,082 (11.0%) | 0.87 | 1,571 |
| 2020-07-01 | $291,900 (4.6%) | $429,399 (10.7%) | 0.85 | 1,483 |
| 2020-08-01 | $289,000 (3.8%) | $442,223 (11.9%) | 0.83 | 1,400 |
| 2020-09-01 | $289,900 (4.9%) | $423,539 (3.4%) | 0.83 | 1,266 |
| 2020-10-01 | $285,000 (3.7%) | $434,665 (11.9%) | 0.82 | 1,175 |
| 2020-11-01 | $281,825 (2.5%) | $443,803 (13.9%) | 0.82 | 1,134 |
| 2020-12-01 | $290,005 (7.4%) | $442,666 (13.4%) | 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 (25.8%) | 0.96 | 757 |
| 2021-04-01 | $337,725 (20.6%) | $505,060 (29.0%) | 0.91 | 778 |
| 2021-05-01 | $339,000 (17.3%) | $500,759 (23.6%) | 0.90 | 837 |
| 2021-06-01 | $341,193 (15.3%) | $498,924 (17.1%) | 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%) | $518,703 (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%) | $527,702 (18.7%) | 1.00 | 983 |
| 2022-02-01 | $374,400 (17.9%) | $568,310 (19.1%) | 0.97 | 752 |
| 2022-03-01 | $376,450 (10.9%) | $553,385 (10.2%) | 0.94 | 750 |
| 2022-04-01 | $380,000 (12.5%) | $554,492 (9.8%) | 0.91 | 803 |
| 2022-05-01 | $389,766 (15.0%) | $551,600 (10.2%) | 0.89 | 1,028 |
| 2022-06-01 | $392,575 (15.1%) | $557,384 (11.7%) | 0.87 | 1,292 |
| 2022-07-01 | $394,900 (17.6%) | $545,503 (8.1%) | 0.89 | 1,743 |
| 2022-08-01 | $396,316 (13.3%) | $554,562 (8.8%) | 0.92 | 1,817 |
| 2022-09-01 | $392,000 (12.9%) | $548,117 (6.1%) | 0.92 | 1,815 |
| 2022-10-01 | $371,300 (6.1%) | $503,365 (-3.4%) | 0.87 | 2,542 |
| 2022-11-01 | $372,400 (4.3%) | $498,721 (-3.9%) | 0.89 | 2,566 |
| 2022-12-01 | $369,900 (1.9%) | $497,534 (-6.5%) | 0.91 | 2,363 |
| 2023-01-01 | $384,900 (4.1%) | $512,251 (-2.9%) | 0.95 | 1,976 |
| 2023-02-01 | $379,925 (1.5%) | $512,251 (-9.9%) | 0.92 | 1,814 |
| 2023-03-01 | $389,900 (3.6%) | $529,401 (-4.3%) | 0.92 | 1,720 |
| 2023-04-01 | $397,816 (0.0%) | $543,510 (-2.0%) | 0.93 | 1,706 |
Pensacola's median listing price comes in at 93% of the national average.
Pensacola's average listing price for 2023-04-01 was $543,510, a difference of $-10,982 (-2.0%) versus the prior year and $14,109 versus the prior month.
For the 2023-04-01 period, Pensacola had 1,706 MLS listings, a difference of -14 listings (-1%) versus the prior month and 903 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 | 93 days | 1,960 sqft |
| 2018-02-01 | 87 days | 1,941 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 | 1,954 sqft |
| 2018-09-01 | 81 days | 1,950 sqft |
| 2018-10-01 | 83 days | 1,959 sqft |
| 2018-11-01 | 89 days | 1,968 sqft |
| 2018-12-01 | 93 days | 1,950 sqft |
| 2019-01-01 | 97 days | 1,944 sqft |
| 2019-02-01 | 93 days | 1,924 sqft |
| 2019-03-01 | 70 days | 1,977 sqft |
| 2019-04-01 | 61 days | 2,002 sqft |
| 2019-05-01 | 56 days | 2,016 sqft |
| 2019-06-01 | 64 days | 2,009 sqft |
| 2019-07-01 | 68 days | 2,005 sqft |
| 2019-08-01 | 78 days | 2,024 sqft |
| 2019-09-01 | 81 days | 2,034 sqft |
| 2019-10-01 | 66 days | 2,008 sqft |
| 2019-11-01 | 70 days | 2,004 sqft |
| 2019-12-01 | 80 days | 1,969 sqft |
| 2020-01-01 | 83 days | 1,973 sqft |
| 2020-02-01 | 67 days | 1,986 sqft |
| 2020-03-01 | 59 days | 2,026 sqft |
| 2020-04-01 | 63 days | 1,988 sqft |
| 2020-05-01 | 66 days | 1,989 sqft |
| 2020-06-01 | 62 days | 1,991 sqft |
| 2020-07-01 | 52 days | 1,959 sqft |
| 2020-08-01 | 50 days | 1,914 sqft |
| 2020-09-01 | 51 days | 1,903 sqft |
| 2020-10-01 | 52 days | 1,900 sqft |
| 2020-11-01 | 50 days | 1,850 sqft |
| 2020-12-01 | 47 days | 1,857 sqft |
| 2021-01-01 | 50 days | 1,873 sqft |
| 2021-02-01 | 42 days | 1,890 sqft |
| 2021-03-01 | 23 days | 1,979 sqft |
| 2021-04-01 | 21 days | 1,897 sqft |
| 2021-05-01 | 18 days | 1,850 sqft |
| 2021-06-01 | 21 days | 1,850 sqft |
| 2021-07-01 | 23 days | 1,848 sqft |
| 2021-08-01 | 27 days | 1,855 sqft |
| 2021-09-01 | 30 days | 1,855 sqft |
| 2021-10-01 | 33 days | 1,849 sqft |
| 2021-11-01 | 39 days | 1,858 sqft |
| 2021-12-01 | 49 days | 1,913 sqft |
| 2022-01-01 | 48 days | 1,900 sqft |
| 2022-02-01 | 26 days | 1,922 sqft |
| 2022-03-01 | 23 days | 1,898 sqft |
| 2022-04-01 | 19 days | 1,892 sqft |
| 2022-05-01 | 21 days | 1,895 sqft |
| 2022-06-01 | 25 days | 1,884 sqft |
| 2022-07-01 | 29 days | 1,903 sqft |
| 2022-08-01 | 40 days | 1,933 sqft |
| 2022-09-01 | 48 days | 1,939 sqft |
| 2022-10-01 | 54 days | 1,852 sqft |
| 2022-11-01 | 57 days | 1,854 sqft |
| 2022-12-01 | 66 days | 1,873 sqft |
| 2023-01-01 | 73 days | 1,876 sqft |
| 2023-02-01 | 67 days | 1,838 sqft |
| 2023-03-01 | 59 days | 1,850 sqft |
| 2023-04-01 | 55 days | 1,874 sqft |
Pensacola's median square footage for active listings during the 2023-04-01 period was 1,874 sqft. One year prior, the average listing was 1,892 sqft.