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 24 lenders originated 31 USDA loans during 2021. The total origination value was $4,885,000, with an average USDA loan value of $157,581.

    Palatka USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Palatka averaged 6.42% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

    Palatka's average USDA mortgage closing costs are $4,900.

    The average rate for the prior week (2022-11-25) was 6.66% and one month ago for the week of 2022-10-28, the average rate was 6.83%.

    The average rate one year ago was 3.33%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.49%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    FREEDOM MORTGAGE CORPORATION 2 3.00% $8,902
    Ameris Bank 2 3.00% $4,855
    HOMESTAR FINANCIAL CORPORATION 2 3.38% $2,298
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.49% $5,825
    Capital City Home Loans, LLC 1 2.38% $4,106
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 4.00% $4,930
    CROSSCOUNTRY MORTGAGE, LLC 1 2.75% $6,791
    Equity Prime Mortgage LLC 1 2.88% $6,026
    FBC MORTGAGE, LLC 1 3.13% $4,584
    Flagstar Bank, FSB 1 3.00% $3,959
    HANCOCK MORTGAGE PARTNERS, LLC 1 3.25% $5,544
    Loan Simple, Inc. 1 3.38% $5,608
    MOVEMENT MORTGAGE, LLC 1 3.50% $7,783
    Paramount Residential Mortgage Group, Inc. 1 2.75% $4,357
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.50% $5,777
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 5.13% $5,692
    Summit Mortgage Corporation 1 2.25% $5,623
    T2 FINANCIAL LLC 1 3.25% $3,920
    TJC Mortgage, Inc. 1 3.25% $5,049
    AMERICAN FINANCIAL NETWORK, INC. 1 3.50% $10,830
    TOWNE MORTGAGE COMPANY 1 3.13% $3,334
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.00% $5,827
    BROKER SOLUTIONS, INC. 1 3.38% $5,471
    CALIBER HOME LOANS, INC. 1 3.25% $4,918

    The top Palatka USDA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 2 USDA loans originated. Their average total fees are $8,902, which is $4,047 higher than the next largest lender, Ameris Bank.

    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 (43.9%) $279,204 (35.0%) 0.00 292
    2018-02-01 $223,550 (51.2%) $279,127 (31.7%) 0.00 287
    2018-03-01 $220,000 (44.4%) $269,247 (24.2%) 0.00 302
    2018-04-01 $220,000 (38.4%) $275,388 (25.4%) 0.00 304
    2018-05-01 $227,850 (35.6%) $281,312 (25.1%) 0.00 285
    2018-06-01 $225,000 (31.7%) $279,969 (21.5%) 0.00 278
    2018-07-01 $226,950 (26.2%) $277,271 (14.1%) 0.00 268
    2018-08-01 $225,975 (20.6%) $273,188 (10.3%) 0.00 258
    2018-09-01 $210,000 (5.4%) $261,428 (3.8%) 0.00 269
    2018-10-01 $201,188 (1.1%) $253,189 (1.0%) 0.00 278
    2018-11-01 $199,445 (-0.3%) $246,054 (-4.9%) 0.00 286
    2018-12-01 $199,000 (-0.5%) $247,145 (-5.0%) 0.00 279
    2019-01-01 $196,950 (-8.3%) $266,350 (-4.6%) 0.00 269
    2019-02-01 $210,950 (-5.6%) $271,835 (-2.6%) 0.00 271
    2019-03-01 $218,800 (-0.6%) $278,509 (3.4%) 0.00 271
    2019-04-01 $223,350 (1.5%) $286,266 (4.0%) 0.00 270
    2019-05-01 $226,500 (-0.6%) $296,867 (5.5%) 0.00 260
    2019-06-01 $224,900 (0.0%) $267,615 (-4.4%) 0.00 254
    2019-07-01 $220,000 (-3.1%) $265,526 (-4.2%) 0.00 277
    2019-08-01 $214,532 (-5.1%) $262,337 (-4.0%) 0.00 283
    2019-09-01 $206,329 (-1.8%) $257,358 (-1.6%) 0.00 287
    2019-10-01 $199,950 (-0.6%) $254,326 (0.5%) 0.00 287
    2019-11-01 $200,000 (0.3%) $256,357 (4.2%) 0.00 263
    2019-12-01 $219,725 (10.4%) $259,659 (5.1%) 0.00 269
    2020-01-01 $219,825 (11.6%) $289,774 (8.8%) 0.00 275
    2020-02-01 $214,950 (1.9%) $299,065 (10.0%) 0.00 283
    2020-03-01 $209,975 (-4.0%) $304,137 (9.2%) 0.00 250
    2020-04-01 $221,250 (-0.9%) $312,025 (9.0%) 0.00 229
    2020-05-01 $222,000 (-2.0%) $334,226 (12.6%) 0.00 199
    2020-06-01 $218,450 (-2.9%) $346,092 (29.3%) 0.00 178
    2020-07-01 $229,000 (4.1%) $327,489 (23.3%) 0.00 191
    2020-08-01 $227,000 (5.8%) $310,979 (18.5%) 0.00 184
    2020-09-01 $229,000 (11.0%) $297,285 (15.5%) 0.00 169
    2020-10-01 $219,000 (9.5%) $268,006 (5.4%) 0.00 176
    2020-11-01 $229,000 (14.5%) $305,142 (19.0%) 0.00 154
    2020-12-01 $229,000 (4.2%) $306,434 (18.0%) 0.00 155
    2021-01-01 $219,900 (0.0%) $300,733 (3.8%) 0.00 141
    2021-02-01 $228,000 (6.1%) $303,054 (1.3%) 0.00 141
    2021-03-01 $229,000 (9.1%) $320,336 (5.3%) 0.00 138
    2021-04-01 $225,750 (2.0%) $347,575 (11.4%) 0.00 106
    2021-05-01 $236,998 (6.8%) $334,123 (0.0%) 0.00 107
    2021-06-01 $219,998 (0.7%) $329,533 (-4.8%) 0.00 129
    2021-07-01 $216,990 (-5.2%) $324,275 (-1.0%) 0.00 145
    2021-08-01 $217,673 (-4.1%) $325,331 (4.6%) 0.00 149
    2021-09-01 $228,973 (0.0%) $314,563 (5.8%) 0.00 147
    2021-10-01 $247,000 (12.8%) $382,194 (42.6%) 0.00 152
    2021-11-01 $265,000 (15.7%) $408,336 (33.8%) 0.00 160
    2021-12-01 $275,950 (20.5%) $411,668 (34.3%) 0.00 155
    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 $272,475 (15.0%) $486,543 (45.6%) 0.00 141
    2022-06-01 $322,400 (46.6%) $562,842 (70.8%) 0.00 156
    2022-07-01 $299,900 (38.2%) $455,937 (40.6%) 0.00 180
    2022-08-01 $302,200 (38.8%) $444,067 (36.5%) 0.00 195
    2022-09-01 $299,500 (30.8%) $452,546 (43.9%) 0.00 206
    2022-10-01 $300,990 (21.9%) $483,630 (26.5%) 0.00 211
    2022-11-01 $317,500 (19.8%) $501,669 (22.9%) 0.00 214
    Palatka's median listing price for 2022-11-01 was $317,500, a difference of $52,500 (19.8%) versus the prior year and $16,510 versus the prior month.

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

    Palatka's average listing price for 2022-11-01 was $501,669, a difference of $93,333 (22.9%) versus the prior year and $18,039 versus the prior month.

    For the 2022-11-01 period, Palatka had 214 MLS listings, a difference of 3 listings (1%) versus the prior month and 54 listings (34%) 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 1,674 sqft
    2018-03-01 0 days 1,756 sqft
    2018-04-01 0 days 1,754 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 1,802 sqft
    2018-09-01 0 days 1,792 sqft
    2018-10-01 0 days 1,768 sqft
    2018-11-01 0 days 1,722 sqft
    2018-12-01 0 days 1,696 sqft
    2019-01-01 0 days 1,685 sqft
    2019-02-01 0 days 1,716 sqft
    2019-03-01 0 days 1,764 sqft
    2019-04-01 0 days 1,796 sqft
    2019-05-01 0 days 1,800 sqft
    2019-06-01 0 days 1,742 sqft
    2019-07-01 0 days 1,741 sqft
    2019-08-01 0 days 1,719 sqft
    2019-09-01 0 days 1,696 sqft
    2019-10-01 0 days 1,675 sqft
    2019-11-01 0 days 1,676 sqft
    2019-12-01 0 days 1,695 sqft
    2020-01-01 0 days 1,713 sqft
    2020-02-01 0 days 1,728 sqft
    2020-03-01 0 days 1,693 sqft
    2020-04-01 0 days 1,725 sqft
    2020-05-01 0 days 1,674 sqft
    2020-06-01 0 days 1,668 sqft
    2020-07-01 0 days 1,864 sqft
    2020-08-01 0 days 1,760 sqft
    2020-09-01 0 days 1,800 sqft
    2020-10-01 0 days 1,721 sqft
    2020-11-01 0 days 1,677 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 1,476 sqft
    2021-07-01 0 days 1,437 sqft
    2021-08-01 0 days 1,514 sqft
    2021-09-01 0 days 1,529 sqft
    2021-10-01 0 days 1,586 sqft
    2021-11-01 0 days 1,579 sqft
    2021-12-01 0 days 1,625 sqft
    2022-01-01 0 days 1,709 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 1,529 sqft
    2022-06-01 0 days 1,690 sqft
    2022-07-01 0 days 1,657 sqft
    2022-08-01 0 days 1,663 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
    Palatka's median listing age (time on market) for 2022-11-01 was 0 days.

    Palatka's median square footage for active listings during the 2022-11-01 period was 1,621 sqft. One year prior, the average listing was 1,579 sqft.