Panama City USDA Loan Rates, Closing Costs & Stats

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 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.