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 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 6.64% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

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

The average rate for the prior week (2024-05-10) was 6.87% and one month ago for the week of 2024-04-12, the average rate was 6.9%.

The average rate one year ago was 6.58%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.95%.

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
2024-04-01 $299,950 (0.5%) $441,201 (6.0%) 0.00 251
Palatka's median listing price for 2024-04-01 was $299,950, a difference of $1,450 (0.5%) versus the prior year and $-10,000 versus the prior month.

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

Palatka's average listing price for 2024-04-01 was $441,201, a difference of $24,846 (6.0%) versus the prior year and $-4,384 versus the prior month.

For the 2024-04-01 period, Palatka had 251 MLS listings, a difference of 22 listings (10%) versus the prior month and 38 listings (18%) 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 1,587 sqft
2024-04-01 0 days 1,551 sqft
Palatka's median listing age (time on market) for 2024-04-01 was 0 days.

Palatka's median square footage for active listings during the 2024-04-01 period was 1,551 sqft. One year prior, the average listing was 1,545 sqft.