Panama City USDA Loans
PANAMA CITY, 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.
Panama City's 33 lenders originated 99 USDA loans during 2021. The total origination value was $23,085,000, with an average USDA loan value of $233,182.
Panama City USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Panama City
averaged
5.55%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.38% and
one month ago for the week of 2022-04-08, the
average rate was 5.05%.
The average rate one year ago was 3.26%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.16%.
Panama City USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Panama City level.
The top Panama City USDA lender as defined by loan originations is Trustmark National Bank, with
21 USDA loans originated. Their average total fees are
$5,869, which is $9
higher than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
The lowest fee Panama City USDA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($5,860), Trustmark National Bank ($5,869), .
The lowest rate Panama City USDA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (2.62%), Trustmark National Bank (2.79%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Panama City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $284,500 (6.0%) | $381,130 (6.0%) | 1.05 | 2,004 |
2018-02-01 | $283,000 (5.2%) | $379,509 (5.6%) | 1.02 | 2,036 |
2018-03-01 | $289,000 (7.1%) | $383,020 (4.2%) | 1.00 | 2,082 |
2018-04-01 | $295,000 (5.7%) | $384,941 (1.8%) | 0.99 | 2,151 |
2018-05-01 | $297,000 (4.2%) | $386,402 (0.7%) | 0.99 | 2,218 |
2018-06-01 | $299,000 (3.5%) | $393,411 (0.6%) | 1.00 | 2,150 |
2018-07-01 | $299,900 (3.8%) | $398,588 (1.3%) | 1.00 | 2,136 |
2018-08-01 | $299,900 (5.2%) | $397,653 (0.7%) | 1.00 | 2,203 |
2018-09-01 | $299,900 (3.8%) | $392,646 (-0.6%) | 1.00 | 2,268 |
2018-10-01 | $299,900 (5.5%) | $398,324 (2.9%) | 1.00 | 2,166 |
2018-11-01 | $302,450 (4.7%) | $406,640 (7.0%) | 1.01 | 1,864 |
2018-12-01 | $318,900 (10.0%) | $410,685 (6.2%) | 1.09 | 1,987 |
2019-01-01 | $321,450 (13.0%) | $411,030 (7.8%) | 1.11 | 1,936 |
2019-02-01 | $326,150 (15.3%) | $422,661 (11.4%) | 1.09 | 2,021 |
2019-03-01 | $333,436 (15.4%) | $432,102 (12.8%) | 1.09 | 2,040 |
2019-04-01 | $339,350 (15.0%) | $441,285 (14.6%) | 1.07 | 2,029 |
2019-05-01 | $338,250 (13.9%) | $445,056 (15.2%) | 1.04 | 2,092 |
2019-06-01 | $341,700 (14.3%) | $434,346 (10.4%) | 1.05 | 2,074 |
2019-07-01 | $342,800 (14.3%) | $437,450 (9.8%) | 1.07 | 2,089 |
2019-08-01 | $337,314 (12.5%) | $428,277 (7.7%) | 1.06 | 2,178 |
2019-09-01 | $329,950 (10.0%) | $415,442 (5.8%) | 1.05 | 2,317 |
2019-10-01 | $325,000 (8.4%) | $411,192 (3.2%) | 1.04 | 2,394 |
2019-11-01 | $325,000 (7.5%) | $402,719 (-1.0%) | 1.05 | 2,407 |
2019-12-01 | $318,000 (-0.3%) | $396,386 (-3.5%) | 1.06 | 2,463 |
2020-01-01 | $314,950 (-2.0%) | $407,918 (-0.8%) | 1.05 | 2,375 |
2020-02-01 | $315,000 (-3.4%) | $405,026 (-4.2%) | 1.02 | 2,440 |
2020-03-01 | $320,950 (-3.7%) | $417,016 (-3.5%) | 1.00 | 2,579 |
2020-04-01 | $319,000 (-6.0%) | $413,894 (-6.2%) | 0.99 | 2,822 |
2020-05-01 | $325,000 (-3.9%) | $416,783 (-6.4%) | 0.98 | 2,745 |
2020-06-01 | $332,175 (-2.8%) | $421,660 (-2.9%) | 0.97 | 2,439 |
2020-07-01 | $329,950 (-3.8%) | $426,981 (-2.4%) | 0.95 | 2,241 |
2020-08-01 | $334,181 (-0.9%) | $428,876 (0.1%) | 0.95 | 2,077 |
2020-09-01 | $339,000 (2.7%) | $443,086 (6.7%) | 0.97 | 1,847 |
2020-10-01 | $335,400 (3.2%) | $450,002 (9.4%) | 0.96 | 1,757 |
2020-11-01 | $329,450 (1.4%) | $472,937 (17.4%) | 0.94 | 1,685 |
2020-12-01 | $315,000 (-0.9%) | $467,984 (18.1%) | 0.92 | 1,726 |
2021-01-01 | $305,000 (-3.2%) | $447,614 (9.7%) | 0.90 | 1,699 |
2021-02-01 | $302,000 (-4.1%) | $468,592 (15.7%) | 0.87 | 1,199 |
2021-03-01 | $318,650 (-0.7%) | $494,372 (18.6%) | 0.89 | 961 |
2021-04-01 | $336,353 (5.4%) | $554,692 (34.0%) | 0.90 | 817 |
2021-05-01 | $350,944 (8.0%) | $590,583 (41.7%) | 0.92 | 784 |
2021-06-01 | $377,450 (13.6%) | $596,671 (41.5%) | 0.98 | 799 |
2021-07-01 | $399,250 (21.0%) | $590,966 (38.4%) | 1.04 | 956 |
2021-08-01 | $419,500 (25.5%) | $601,005 (40.1%) | 1.10 | 1,231 |
2021-09-01 | $426,000 (25.7%) | $603,967 (36.3%) | 1.12 | 1,294 |
2021-10-01 | $425,000 (26.7%) | $601,146 (33.6%) | 1.12 | 1,232 |
2021-11-01 | $409,700 (24.4%) | $596,827 (26.2%) | 1.08 | 1,096 |
2021-12-01 | $399,000 (26.7%) | $613,793 (31.2%) | 1.06 | 1,001 |
2022-01-01 | $399,995 (31.2%) | $653,947 (46.1%) | 1.07 | 853 |
2022-02-01 | $422,000 (39.7%) | $684,667 (46.1%) | 1.08 | 703 |
2022-03-01 | $447,450 (40.4%) | $742,757 (50.2%) | 1.11 | 753 |
2022-04-01 | $495,000 (47.2%) | $793,607 (43.1%) | 1.16 | 981 |
Panama City's median listing price comes in at 116% of the national average.
Panama City's average listing price for 2022-04-01 was $793,607, a difference of $238,915 (43.1%) versus the prior year and $50,850 versus the prior month.
For the 2022-04-01 period, Panama City had 981 MLS listings, a difference of 228 listings (30%) versus the prior month and 164 listings (20%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Panama City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 101 days | 1,622 sqft |
2018-02-01 | 93 days | 1,639 sqft |
2018-03-01 | 72 days | 1,656 sqft |
2018-04-01 | 70 days | 1,650 sqft |
2018-05-01 | 67 days | 1,647 sqft |
2018-06-01 | 74 days | 1,656 sqft |
2018-07-01 | 78 days | 1,667 sqft |
2018-08-01 | 81 days | 1,644 sqft |
2018-09-01 | 80 days | 1,620 sqft |
2018-10-01 | 93 days | 1,612 sqft |
2018-11-01 | 109 days | 1,604 sqft |
2018-12-01 | 107 days | 1,542 sqft |
2019-01-01 | 106 days | 1,532 sqft |
2019-02-01 | 82 days | 1,506 sqft |
2019-03-01 | 88 days | 1,504 sqft |
2019-04-01 | 82 days | 1,500 sqft |
2019-05-01 | 78 days | 1,506 sqft |
2019-06-01 | 73 days | 1,525 sqft |
2019-07-01 | 76 days | 1,541 sqft |
2019-08-01 | 76 days | 1,524 sqft |
2019-09-01 | 74 days | 1,503 sqft |
2019-10-01 | 74 days | 1,506 sqft |
2019-11-01 | 80 days | 1,506 sqft |
2019-12-01 | 91 days | 1,508 sqft |
2020-01-01 | 95 days | 1,515 sqft |
2020-02-01 | 91 days | 1,508 sqft |
2020-03-01 | 69 days | 1,529 sqft |
2020-04-01 | 72 days | 1,512 sqft |
2020-05-01 | 84 days | 1,506 sqft |
2020-06-01 | 100 days | 1,522 sqft |
2020-07-01 | 100 days | 1,542 sqft |
2020-08-01 | 86 days | 1,542 sqft |
2020-09-01 | 85 days | 1,523 sqft |
2020-10-01 | 76 days | 1,542 sqft |
2020-11-01 | 68 days | 1,575 sqft |
2020-12-01 | 60 days | 1,632 sqft |
2021-01-01 | 66 days | 1,603 sqft |
2021-02-01 | 69 days | 1,583 sqft |
2021-03-01 | 52 days | 1,627 sqft |
2021-04-01 | 46 days | 1,646 sqft |
2021-05-01 | 31 days | 1,654 sqft |
2021-06-01 | 36 days | 1,600 sqft |
2021-07-01 | 32 days | 1,555 sqft |
2021-08-01 | 36 days | 1,567 sqft |
2021-09-01 | 44 days | 1,589 sqft |
2021-10-01 | 53 days | 1,594 sqft |
2021-11-01 | 57 days | 1,638 sqft |
2021-12-01 | 57 days | 1,646 sqft |
2022-01-01 | 58 days | 1,688 sqft |
2022-02-01 | 41 days | 1,695 sqft |
2022-03-01 | 33 days | 1,672 sqft |
2022-04-01 | 32 days | 1,600 sqft |
Panama City's median square footage for active listings during the 2022-04-01 period was 1,600 sqft. One year prior, the average listing was 1,646 sqft.