Palatka USDA Loan Rates, Closing Costs & Stats

Palatka, FL

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Palatka's 11 lenders originated 17 USDA loans during 2023. The total origination value was $3,295,000, with an average USDA loan value of $193,824.

    Palatka USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Palatka averaged 6.95% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Palatka's average USDA mortgage closing costs are $5,542.

    The average rate for the prior week (2024-04-12) was 6.7% and one month ago for the week of 2024-03-15, the average rate was 6.68%.

    The average rate one year ago was 6.62%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Palatka USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Palatka level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 4 6.24% $10,007
    Century Mortgage Company DBA Century Lending Company 2 6.19% $6,123
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.06% $6,863
    ACADEMY MORTGAGE CORPORATION 1 6.25% $13,368
    PLAZA HOME MORTGAGE, INC. 1 6.25% $7,484
    Sierra Pacific Mortgage Company, Inc. 1 5.00% $12,007
    South State Bank 1 6.38% $7,129
    Summit Mortgage Corporation 1 6.00% $9,593
    Equity Prime Mortgage LLC 1 7.63% $5,422
    AMERICAN BANCSHARES MORTGAGE 1 6.50% $6,924
    CALCON MUTUAL MORTGAGE LLC 1 5.88% $14,211

    The top Palatka USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 4 USDA loans originated. Their average total fees are $10,007, which is $3,884 higher than the next largest lender, Century Mortgage Company DBA Century Lending Company.

    The lowest fee Palatka USDA lenders (with over 10 loans originated) are .

    The lowest rate Palatka USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Palatka (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 $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
    Palatka's median listing price for 2024-03-01 was $309,950, a difference of $15,050 (5.1%) versus the prior year and $-7,525 versus the prior month.

    Palatka's median listing price comes in at 0% of the national average.

    Palatka's average listing price for 2024-03-01 was $445,585, a difference of $31,758 (7.7%) versus the prior year and $4,396 versus the prior month.

    For the 2024-03-01 period, Palatka had 229 MLS listings, a difference of 7 listings (3%) versus the prior month and 37 listings (19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Palatka (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date 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 1,576 sqft
    Palatka's median listing age (time on market) for 2024-03-01 was 0 days.

    Palatka's median square footage for active listings during the 2024-03-01 period was 1,576 sqft. One year prior, the average listing was 1,545 sqft.