Palatka USDA Loan Rates, Closing Costs & Stats

Palatka, FL

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.