Panama City USDA Loan Rates, Closing Costs & Stats

PANAMA CITY, FL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 8 lenders originated 10 USDA loans during 2024. The total origination value was $2,720,000, with an average USDA loan value of $272,000.

    Panama City USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Panama City averaged 6.26% for the week of 2025-05-23, compared to the national average (all USDA variants) of 6.433% for the same period.

    Panama City's average USDA mortgage closing costs are $6,026.

    The average rate for the prior week (2025-05-16) was 6.49% and one month ago for the week of 2025-04-18, the average rate was 6.58%.

    The average rate one year ago was 6.94%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.09%.

    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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Panama City level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Regions Bank 2 6.13% $7,391
    DHI MORTGAGE COMPANY, LTD. 2 4.49% $6,366
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.88% $11,672
    JMAC LENDING, INC. 1 5.88% $6,595
    PLAZA HOME MORTGAGE, INC. 1 5.99% $11,270
    SmartBank 1 6.13% $7,170
    UNION HOME MORTGAGE CORP. 1 5.88% $9,156
    FBC MORTGAGE, LLC 1 4.99% $12,413

    The top Panama City USDA lender as defined by loan originations is Regions Bank, with 2 USDA loans originated. Their average total fees are $7,391, which is $1,025 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Panama City USDA lenders (with over 10 loans originated) are .

    The lowest rate Panama City USDA lenders (with over 10 loans originated) are .

    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 $262,450 (5.0%) $338,950 (6.2%) 0.97 1,728
    2018-02-01 $265,000 (6.0%) $339,305 (6.0%) 0.96 1,747
    2018-03-01 $269,900 (6.6%) $343,946 (5.2%) 0.95 1,778
    2018-04-01 $279,250 (7.5%) $347,424 (3.7%) 0.95 1,836
    2018-05-01 $278,475 (4.4%) $351,028 (3.0%) 0.93 1,865
    2018-06-01 $280,990 (4.5%) $360,683 (5.0%) 0.94 1,760
    2018-07-01 $279,948 (4.1%) $365,271 (5.5%) 0.93 1,766
    2018-08-01 $279,950 (5.1%) $365,400 (3.9%) 0.94 1,806
    2018-09-01 $279,900 (4.4%) $359,362 (3.2%) 0.94 1,863
    2018-10-01 $279,900 (5.7%) $363,153 (5.3%) 0.95 1,768
    2018-11-01 $289,675 (7.9%) $376,101 (9.7%) 0.98 1,525
    2018-12-01 $301,995 (14.0%) $383,786 (9.6%) 1.04 1,556
    2019-01-01 $305,250 (16.3%) $384,454 (13.4%) 1.05 1,504
    2019-02-01 $307,875 (16.2%) $391,196 (15.3%) 1.04 1,583
    2019-03-01 $316,371 (17.2%) $397,973 (15.7%) 1.03 1,576
    2019-04-01 $323,921 (16.0%) $405,461 (16.7%) 1.03 1,559
    2019-05-01 $315,000 (13.1%) $407,247 (16.0%) 0.98 1,637
    2019-06-01 $315,495 (12.3%) $398,606 (10.5%) 0.99 1,622
    2019-07-01 $317,123 (13.3%) $400,800 (9.7%) 0.99 1,650
    2019-08-01 $313,545 (12.0%) $393,725 (7.8%) 0.99 1,738
    2019-09-01 $305,364 (9.1%) $383,548 (6.7%) 0.98 1,839
    2019-10-01 $299,000 (6.8%) $376,365 (3.6%) 0.96 1,907
    2019-11-01 $299,000 (3.2%) $373,228 (-0.8%) 0.98 1,923
    2019-12-01 $293,500 (-2.8%) $365,098 (-4.9%) 0.98 1,988
    2020-01-01 $289,900 (-5.0%) $369,774 (-3.8%) 0.97 1,928
    2020-02-01 $287,700 (-6.6%) $367,594 (-6.0%) 0.94 1,948
    2020-03-01 $292,450 (-7.6%) $374,019 (-6.0%) 0.92 2,051
    2020-04-01 $294,000 (-9.2%) $373,577 (-7.9%) 0.92 2,249
    2020-05-01 $296,000 (-6.0%) $376,349 (-7.6%) 0.90 2,176
    2020-06-01 $309,700 (-1.8%) $382,480 (-4.1%) 0.91 1,922
    2020-07-01 $309,189 (-2.5%) $383,996 (-4.2%) 0.90 1,748
    2020-08-01 $309,750 (-1.2%) $386,978 (-1.7%) 0.89 1,631
    2020-09-01 $301,200 (-1.4%) $392,788 (2.4%) 0.86 1,455
    2020-10-01 $309,500 (3.5%) $399,352 (6.1%) 0.89 1,373
    2020-11-01 $305,000 (2.0%) $412,430 (10.5%) 0.89 1,353
    2020-12-01 $294,894 (0.5%) $407,295 (11.6%) 0.88 1,442
    2021-01-01 $289,290 (-0.2%) $394,149 (6.6%) 0.86 1,446
    2021-02-01 $289,328 (0.6%) $409,098 (11.3%) 0.84 1,028
    2021-03-01 $296,450 (1.4%) $435,462 (16.4%) 0.84 833
    2021-04-01 $315,645 (7.4%) $482,078 (29.0%) 0.85 695
    2021-05-01 $335,016 (13.2%) $508,712 (35.2%) 0.89 657
    2021-06-01 $356,975 (15.3%) $531,743 (39.0%) 0.94 670
    2021-07-01 $378,999 (22.6%) $528,472 (37.6%) 1.00 857
    2021-08-01 $399,000 (28.8%) $545,289 (40.9%) 1.06 1,024
    2021-09-01 $399,700 (32.7%) $548,746 (39.7%) 1.07 1,068
    2021-10-01 $399,500 (29.1%) $548,899 (37.5%) 1.07 1,052
    2021-11-01 $385,750 (26.5%) $550,284 (33.4%) 1.03 944
    2021-12-01 $367,318 (24.6%) $546,736 (34.2%) 1.00 865
    2022-01-01 $369,000 (27.6%) $573,893 (45.6%) 1.00 728
    2022-02-01 $401,000 (38.6%) $606,905 (48.4%) 1.04 605
    2022-03-01 $427,000 (44.0%) $666,379 (53.0%) 1.07 638
    2022-04-01 $463,500 (46.8%) $696,818 (44.5%) 1.10 799
    2022-05-01 $484,500 (44.6%) $732,645 (44.0%) 1.11 992
    2022-06-01 $497,750 (39.4%) $717,057 (34.9%) 1.11 1,227
    2022-07-01 $489,000 (29.0%) $673,846 (27.5%) 1.10 1,526
    2022-08-01 $478,000 (19.8%) $651,564 (19.5%) 1.11 1,678
    2022-09-01 $452,500 (13.2%) $621,357 (13.2%) 1.06 1,733
    2022-10-01 $441,700 (10.6%) $602,758 (9.8%) 1.04 1,805
    2022-11-01 $435,000 (12.8%) $583,175 (6.0%) 1.05 1,849
    2022-12-01 $430,000 (17.1%) $585,365 (7.1%) 1.06 1,753
    2023-01-01 $434,450 (17.7%) $588,973 (2.6%) 1.08 1,621
    2023-02-01 $432,300 (7.8%) $584,591 (-3.7%) 1.04 1,540
    2023-03-01 $433,650 (1.6%) $595,270 (-10.7%) 1.02 1,530
    2023-04-01 $450,000 (-2.9%) $625,997 (-10.2%) 1.05 1,538
    2023-05-01 $449,250 (-7.3%) $623,683 (-14.9%) 1.02 1,687
    2023-06-01 $454,450 (-8.7%) $636,167 (-11.3%) 1.02 1,724
    2023-07-01 $457,500 (-6.4%) $643,468 (-4.5%) 1.04 1,750
    2023-08-01 $449,900 (-5.9%) $632,536 (-2.9%) 1.03 1,872
    2023-09-01 $450,000 (-0.6%) $630,035 (1.4%) 1.05 1,934
    2023-10-01 $450,000 (1.9%) $631,214 (4.7%) 1.06 2,037
    2023-11-01 $448,625 (3.1%) $615,544 (5.6%) 1.07 2,188
    2023-12-01 $447,000 (4.0%) $609,873 (4.2%) 1.09 2,209
    2024-01-01 $440,000 (1.3%) $602,304 (2.3%) 1.07 2,184
    2024-02-01 $437,575 (1.2%) $602,648 (3.1%) 1.05 2,274
    2024-03-01 $440,000 (1.5%) $601,539 (1.1%) 1.04 2,438
    2024-04-01 $447,000 (-0.7%) $607,490 (-3.0%) 1.04 2,566
    2024-05-01 $449,000 (-0.1%) $608,911 (-2.4%) 1.02 2,678
    2024-06-01 $443,500 (-2.4%) $606,350 (-4.7%) 1.01 2,728
    2024-07-01 $444,500 (-2.8%) $614,391 (-4.5%) 1.02 2,739
    2024-08-01 $439,000 (-2.4%) $608,479 (-3.8%) 1.02 2,786
    2024-09-01 $429,725 (-4.5%) $595,914 (-5.4%) 1.01 2,782
    2024-10-01 $429,975 (-4.5%) $593,982 (-5.9%) 1.01 2,760
    2024-11-01 $425,000 (-5.3%) $583,584 (-5.2%) 1.02 2,680
    2024-12-01 $419,500 (-6.2%) $578,615 (-5.1%) 1.04 2,639
    2025-01-01 $414,950 (-5.7%) $564,084 (-6.4%) 1.04 2,553
    2025-02-01 $415,000 (-5.2%) $563,265 (-6.5%) 1.01 2,707
    2025-03-01 $425,000 (-3.4%) $578,677 (-3.8%) 1.00 2,851
    2025-04-01 $425,000 (-4.9%) $585,757 (-3.6%) 0.99 3,014
    Panama City's median listing price for 2025-04-01 was $425,000, a difference of $-22,000 (-4.9%) versus the prior year and $0 versus the prior month.

    Panama City's median listing price comes in at 99% of the national average.

    Panama City's average listing price for 2025-04-01 was $585,757, a difference of $-21,733 (-3.6%) versus the prior year and $7,080 versus the prior month.

    For the 2025-04-01 period, Panama City had 3,014 MLS listings, a difference of 163 listings (6%) versus the prior month and 448 listings (17%) 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 89 days 1,618 sqft
    2018-02-01 78 days 1,622 sqft
    2018-03-01 60 days 1,637 sqft
    2018-04-01 59 days 1,647 sqft
    2018-05-01 60 days 1,645 sqft
    2018-06-01 71 days 1,665 sqft
    2018-07-01 72 days 1,680 sqft
    2018-08-01 71 days 1,654 sqft
    2018-09-01 71 days 1,636 sqft
    2018-10-01 86 days 1,632 sqft
    2018-11-01 100 days 1,610 sqft
    2018-12-01 101 days 1,542 sqft
    2019-01-01 88 days 1,542 sqft
    2019-02-01 75 days 1,527 sqft
    2019-03-01 74 days 1,524 sqft
    2019-04-01 65 days 1,512 sqft
    2019-05-01 58 days 1,524 sqft
    2019-06-01 57 days 1,544 sqft
    2019-07-01 60 days 1,564 sqft
    2019-08-01 61 days 1,554 sqft
    2019-09-01 61 days 1,543 sqft
    2019-10-01 63 days 1,536 sqft
    2019-11-01 70 days 1,542 sqft
    2019-12-01 77 days 1,542 sqft
    2020-01-01 79 days 1,542 sqft
    2020-02-01 71 days 1,542 sqft
    2020-03-01 65 days 1,542 sqft
    2020-04-01 67 days 1,542 sqft
    2020-05-01 75 days 1,540 sqft
    2020-06-01 86 days 1,542 sqft
    2020-07-01 73 days 1,561 sqft
    2020-08-01 63 days 1,562 sqft
    2020-09-01 61 days 1,542 sqft
    2020-10-01 56 days 1,560 sqft
    2020-11-01 48 days 1,602 sqft
    2020-12-01 51 days 1,627 sqft
    2021-01-01 60 days 1,604 sqft
    2021-02-01 59 days 1,591 sqft
    2021-03-01 44 days 1,616 sqft
    2021-04-01 40 days 1,648 sqft
    2021-05-01 27 days 1,674 sqft
    2021-06-01 31 days 1,588 sqft
    2021-07-01 29 days 1,542 sqft
    2021-08-01 34 days 1,539 sqft
    2021-09-01 41 days 1,564 sqft
    2021-10-01 52 days 1,605 sqft
    2021-11-01 50 days 1,637 sqft
    2021-12-01 51 days 1,656 sqft
    2022-01-01 54 days 1,688 sqft
    2022-02-01 34 days 1,668 sqft
    2022-03-01 32 days 1,679 sqft
    2022-04-01 32 days 1,592 sqft
    2022-05-01 37 days 1,578 sqft
    2022-06-01 42 days 1,574 sqft
    2022-07-01 45 days 1,560 sqft
    2022-08-01 54 days 1,561 sqft
    2022-09-01 61 days 1,564 sqft
    2022-10-01 64 days 1,563 sqft
    2022-11-01 73 days 1,571 sqft
    2022-12-01 82 days 1,579 sqft
    2023-01-01 87 days 1,587 sqft
    2023-02-01 84 days 1,559 sqft
    2023-03-01 68 days 1,544 sqft
    2023-04-01 60 days 1,490 sqft
    2023-05-01 57 days 1,499 sqft
    2023-06-01 61 days 1,501 sqft
    2023-07-01 67 days 1,483 sqft
    2023-08-01 68 days 1,461 sqft
    2023-09-01 66 days 1,470 sqft
    2023-10-01 67 days 1,462 sqft
    2023-11-01 72 days 1,453 sqft
    2023-12-01 79 days 1,432 sqft
    2024-01-01 87 days 1,418 sqft
    2024-02-01 89 days 1,413 sqft
    2024-03-01 74 days 1,418 sqft
    2024-04-01 73 days 1,404 sqft
    2024-05-01 74 days 1,423 sqft
    2024-06-01 82 days 1,427 sqft
    2024-07-01 87 days 1,446 sqft
    2024-08-01 93 days 1,446 sqft
    2024-09-01 94 days 1,445 sqft
    2024-10-01 95 days 1,436 sqft
    2024-11-01 98 days 1,420 sqft
    2024-12-01 102 days 1,416 sqft
    2025-01-01 103 days 1,420 sqft
    2025-02-01 93 days 1,424 sqft
    2025-03-01 78 days 1,423 sqft
    2025-04-01 74 days 1,417 sqft
    Panama City's median listing age (time on market) for 2025-04-01 was 74 days. This is 2% longer than the same period one year ago.

    Panama City's median square footage for active listings during the 2025-04-01 period was 1,417 sqft. One year prior, the average listing was 1,404 sqft.