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%.

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.