Panama City USDA Loans

PANAMA CITY, 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.

    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%.

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

    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.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Trustmark National Bank 21 2.79% $5,869
    DHI MORTGAGE COMPANY, LTD. 16 2.62% $5,860
    CALIBER HOME LOANS, INC. 9 2.76% $6,300
    LOANDEPOT.COM, LLC 8 3.36% $6,663
    Tyndall Federal Credit Union 4 2.63% $5,287
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.03% $6,552
    United Fidelity Funding Corp. 3 2.71% $9,239
    BROKER SOLUTIONS, INC. 3 3.46% $5,937
    SUCCESS MORTGAGE PARTNERS, INC. 3 3.08% $7,381
    PENNYMAC LOAN SERVICES, LLC 2 3.00% $7,532
    Centennial Bank 2 3.88% $8,336
    NEWREZ LLC 1 2.50% $5,321
    PLAZA HOME MORTGAGE, INC. 1 3.50% $6,413
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.50% $5,999
    Regions Bank 1 4.13% $6,781
    RELIANCE FIRST CAPITAL, LLC 1 2.88% $13,137
    Renasant Bank 1 2.99% $7,033
    Republic State Mortgage Co. 1 3.75% $2,429
    SmartBank 1 3.13% $5,815
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.50% $2,341
    UNIVERSITY LENDING GROUP, LLC 1 2.75% $6,224
    Bank of England 1 3.88% $5,771
    Wells Fargo Bank 1 4.25% $3,044
    Carrington Mortgage Services, LLC 1 4.50% $4,682
    CBM Mortgage, Inc. 1 2.88% $5,661
    Century Mortgage Company DBA Century Lending Company 1 2.88% $6,807
    CMG MORTGAGE, INC. 1 2.75% $6,379
    Equity Prime Mortgage LLC 1 3.25% $8,991
    FBC MORTGAGE, LLC 1 2.88% $6,618
    FLAT BRANCH MORTGAGE, INC. 1 3.13% $9,412
    HOME POINT FINANCIAL CORPORATION 1 2.99% $3,749
    Hometown Lenders, Inc. 1 2.88% $6,036
    Magnolia Bank 1 2.75% $6,008

    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. Louis
    Date 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 for 2022-04-01 was $495,000, a difference of $158,647 (47.2%) versus the prior year and $47,550 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2022-04-01 was 32 days. This is -30% shorter than the same period one year ago.

    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.