Panama City USDA Loan Rates, Closing Costs & Stats

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 6.49% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

    Panama City's average USDA mortgage closing costs are $5,707.

    The average rate for the prior week (2022-11-25) was 6.83% and one month ago for the week of 2022-10-28, the average rate was 7%.

    The average rate one year ago was 3.6%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.21%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    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 $270,625 (4.5%) $349,779 (5.0%) 1.00 1,630
    2018-02-01 $270,000 (4.9%) $348,602 (4.6%) 0.98 1,658
    2018-03-01 $275,000 (5.8%) $352,283 (3.7%) 0.96 1,688
    2018-04-01 $284,950 (5.6%) $356,074 (2.2%) 0.97 1,747
    2018-05-01 $280,344 (2.3%) $364,775 (3.0%) 0.94 1,777
    2018-06-01 $289,900 (5.4%) $375,850 (4.9%) 0.97 1,679
    2018-07-01 $289,000 (5.1%) $381,967 (5.9%) 0.96 1,684
    2018-08-01 $288,500 (4.9%) $382,500 (4.8%) 0.97 1,716
    2018-09-01 $285,000 (3.7%) $368,573 (2.3%) 0.96 1,774
    2018-10-01 $287,000 (6.3%) $371,824 (4.7%) 0.97 1,688
    2018-11-01 $296,375 (7.8%) $386,260 (9.6%) 1.00 1,463
    2018-12-01 $308,000 (12.1%) $392,139 (9.0%) 1.06 1,504
    2019-01-01 $309,725 (14.5%) $392,400 (12.2%) 1.07 1,461
    2019-02-01 $312,495 (15.7%) $400,050 (14.8%) 1.06 1,537
    2019-03-01 $321,000 (16.7%) $408,021 (15.8%) 1.05 1,538
    2019-04-01 $328,000 (15.1%) $417,208 (17.2%) 1.04 1,522
    2019-05-01 $320,163 (14.2%) $417,096 (14.3%) 1.00 1,598
    2019-06-01 $319,900 (10.4%) $406,316 (8.1%) 1.00 1,585
    2019-07-01 $322,450 (11.6%) $410,543 (7.5%) 1.01 1,608
    2019-08-01 $318,155 (10.3%) $403,431 (5.5%) 1.01 1,691
    2019-09-01 $307,886 (8.0%) $392,382 (6.5%) 0.99 1,792
    2019-10-01 $299,900 (4.5%) $384,304 (3.4%) 0.97 1,859
    2019-11-01 $299,000 (0.9%) $378,648 (-2.0%) 0.98 1,868
    2019-12-01 $297,125 (-3.5%) $373,615 (-4.7%) 0.99 1,941
    2020-01-01 $294,725 (-4.8%) $378,901 (-3.4%) 0.98 1,876
    2020-02-01 $289,500 (-7.4%) $375,593 (-6.1%) 0.95 1,903
    2020-03-01 $297,450 (-7.3%) $383,250 (-6.1%) 0.93 2,006
    2020-04-01 $297,350 (-9.3%) $381,660 (-8.5%) 0.93 2,220
    2020-05-01 $299,000 (-6.6%) $385,193 (-7.7%) 0.91 2,159
    2020-06-01 $313,575 (-2.0%) $389,780 (-4.1%) 0.92 1,912
    2020-07-01 $313,456 (-2.8%) $391,507 (-4.6%) 0.91 1,734
    2020-08-01 $314,900 (-1.0%) $394,381 (-2.2%) 0.90 1,616
    2020-09-01 $309,975 (0.7%) $401,484 (2.3%) 0.89 1,433
    2020-10-01 $312,000 (4.0%) $417,703 (8.7%) 0.89 1,356
    2020-11-01 $309,900 (3.7%) $432,027 (14.1%) 0.90 1,332
    2020-12-01 $296,594 (-0.2%) $418,595 (12.0%) 0.88 1,421
    2021-01-01 $290,000 (-1.6%) $406,139 (7.2%) 0.87 1,421
    2021-02-01 $291,594 (0.7%) $422,639 (12.5%) 0.85 1,006
    2021-03-01 $297,998 (0.2%) $448,470 (17.0%) 0.85 815
    2021-04-01 $315,645 (6.2%) $496,767 (30.2%) 0.85 680
    2021-05-01 $337,948 (13.0%) $537,065 (39.4%) 0.89 645
    2021-06-01 $359,900 (14.8%) $564,142 (44.7%) 0.95 657
    2021-07-01 $384,000 (22.5%) $551,426 (40.9%) 1.01 841
    2021-08-01 $399,800 (27.0%) $557,789 (41.4%) 1.07 1,002
    2021-09-01 $404,500 (30.5%) $564,264 (40.5%) 1.08 1,047
    2021-10-01 $406,247 (30.2%) $558,509 (33.7%) 1.08 1,025
    2021-11-01 $389,900 (25.8%) $556,150 (28.7%) 1.04 917
    2021-12-01 $372,000 (25.4%) $555,265 (32.7%) 1.01 837
    2022-01-01 $375,000 (29.3%) $587,886 (44.8%) 1.01 703
    2022-02-01 $412,497 (41.5%) $625,236 (47.9%) 1.07 576
    2022-03-01 $433,825 (45.6%) $683,138 (52.3%) 1.09 610
    2022-04-01 $472,500 (49.7%) $715,785 (44.1%) 1.13 775
    2022-05-01 $489,000 (44.7%) $747,285 (39.1%) 1.12 965
    2022-06-01 $499,450 (38.8%) $730,758 (29.5%) 1.11 1,191
    2022-07-01 $495,000 (28.9%) $684,384 (24.1%) 1.12 1,477
    2022-08-01 $484,900 (21.3%) $660,522 (18.4%) 1.12 1,620
    2022-09-01 $454,500 (12.4%) $629,312 (11.5%) 1.06 1,673
    2022-10-01 $448,000 (10.3%) $611,341 (9.5%) 1.05 1,740
    2022-11-01 $439,900 (12.8%) $593,238 (6.7%) 1.06 1,779
    Panama City's median listing price for 2022-11-01 was $439,900, a difference of $50,000 (12.8%) versus the prior year and $-8,100 versus the prior month.

    Panama City's median listing price comes in at 106% of the national average.

    Panama City's average listing price for 2022-11-01 was $593,238, a difference of $37,088 (6.7%) versus the prior year and $-18,103 versus the prior month.

    For the 2022-11-01 period, Panama City had 1,779 MLS listings, a difference of 39 listings (2%) versus the prior month and 862 listings (94%) 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
    2018-01-01 100 days 1,604 sqft
    2018-02-01 92 days 1,612 sqft
    2018-03-01 67 days 1,620 sqft
    2018-04-01 67 days 1,629 sqft
    2018-05-01 65 days 1,630 sqft
    2018-06-01 76 days 1,657 sqft
    2018-07-01 79 days 1,679 sqft
    2018-08-01 80 days 1,651 sqft
    2018-09-01 78 days 1,635 sqft
    2018-10-01 93 days 1,625 sqft
    2018-11-01 108 days 1,605 sqft
    2018-12-01 109 days 1,542 sqft
    2019-01-01 107 days 1,542 sqft
    2019-02-01 83 days 1,518 sqft
    2019-03-01 81 days 1,515 sqft
    2019-04-01 76 days 1,506 sqft
    2019-05-01 68 days 1,517 sqft
    2019-06-01 66 days 1,542 sqft
    2019-07-01 69 days 1,561 sqft
    2019-08-01 69 days 1,548 sqft
    2019-09-01 69 days 1,529 sqft
    2019-10-01 69 days 1,522 sqft
    2019-11-01 75 days 1,541 sqft
    2019-12-01 87 days 1,542 sqft
    2020-01-01 90 days 1,542 sqft
    2020-02-01 85 days 1,540 sqft
    2020-03-01 75 days 1,542 sqft
    2020-04-01 76 days 1,542 sqft
    2020-05-01 85 days 1,533 sqft
    2020-06-01 98 days 1,542 sqft
    2020-07-01 94 days 1,562 sqft
    2020-08-01 79 days 1,562 sqft
    2020-09-01 76 days 1,542 sqft
    2020-10-01 68 days 1,560 sqft
    2020-11-01 57 days 1,600 sqft
    2020-12-01 55 days 1,624 sqft
    2021-01-01 64 days 1,600 sqft
    2021-02-01 65 days 1,573 sqft
    2021-03-01 47 days 1,607 sqft
    2021-04-01 44 days 1,636 sqft
    2021-05-01 29 days 1,670 sqft
    2021-06-01 32 days 1,582 sqft
    2021-07-01 29 days 1,536 sqft
    2021-08-01 35 days 1,527 sqft
    2021-09-01 42 days 1,549 sqft
    2021-10-01 53 days 1,593 sqft
    2021-11-01 52 days 1,635 sqft
    2021-12-01 53 days 1,648 sqft
    2022-01-01 54 days 1,693 sqft
    2022-02-01 34 days 1,684 sqft
    2022-03-01 32 days 1,692 sqft
    2022-04-01 32 days 1,593 sqft
    2022-05-01 38 days 1,571 sqft
    2022-06-01 43 days 1,572 sqft
    2022-07-01 45 days 1,555 sqft
    2022-08-01 55 days 1,553 sqft
    2022-09-01 62 days 1,560 sqft
    2022-10-01 65 days 1,560 sqft
    2022-11-01 74 days 1,563 sqft
    Panama City's median listing age (time on market) for 2022-11-01 was 74 days. This is 42% longer than the same period one year ago.

    Panama City's median square footage for active listings during the 2022-11-01 period was 1,563 sqft. One year prior, the average listing was 1,635 sqft.