Pensacola USDA Loan Rates, Closing Costs & Stats

PENSACOLA-FERRY PASS-BRENT, 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.

    Pensacola's 24 lenders originated 38 USDA loans during 2023. The total origination value was $9,670,000, with an average USDA loan value of $254,474.

    Pensacola USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Pensacola averaged 6.77% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Pensacola's average USDA mortgage closing costs are $5,170.

    The average rate for the prior week (2024-04-12) was 6.32% and one month ago for the week of 2024-03-15, the average rate was 6.4%.

    The average rate one year ago was 6.04%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.18%.

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

    Pensacola 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 Pensacola level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 6 5.45% $6,269
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.19% $12,705
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 3 6.58% $8,620
    UNITED WHOLESALE MORTGAGE, LLC 3 6.23% $11,967
    EAGLE HOME MORTGAGE, LLC 2 5.12% $5,931
    CARDINAL FINANCIAL 1 4.88% $14,067
    Centennial Bank 1 6.38% $8,735
    CMG MORTGAGE, INC. 1 6.25% $7,083
    CROSSCOUNTRY MORTGAGE, LLC 1 6.50% $6,476
    DAS Acquisition Company, LLC 1 7.38% $8,839
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.63% $7,763
    METROPLEX MORTGAGE SERVICES, INC. 1 8.25% $9,443
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $12,367
    Renasant Bank 1 6.63% $8,487
    SUN WEST MORTGAGE COMPANY, INC. 1 5.63% $11,596
    Synovus Bank 1 6.38% $6,891
    THE MORTGAGE FIRM, INC. 1 6.13% $12,612
    THRIVE MORTGAGE, LLC 1 6.38% $8,423
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $5,730
    University Bank 1 5.75% $7,150
    Ameris Bank 1 5.50% $9,520
    Bank of England 1 4.88% $6,195
    BROKER SOLUTIONS, INC. 1 5.75% $4,875
    CANOPY MORTGAGE, LLC 1 6.13% $14,529

    The top Pensacola USDA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 6 USDA loans originated. Their average total fees are $6,269, which is $6,436 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Pensacola (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 $250,000 (10.8%) $335,503 (9.7%) 0.93 2,375
    2018-02-01 $250,000 (9.7%) $334,126 (7.1%) 0.91 2,420
    2018-03-01 $258,650 (11.0%) $340,708 (6.4%) 0.91 2,444
    2018-04-01 $261,301 (9.7%) $349,888 (6.2%) 0.89 2,454
    2018-05-01 $264,900 (10.1%) $348,056 (0.6%) 0.88 2,598
    2018-06-01 $261,899 (8.4%) $342,823 (3.4%) 0.87 2,629
    2018-07-01 $260,000 (6.1%) $340,897 (4.5%) 0.87 2,726
    2018-08-01 $256,950 (5.2%) $335,171 (3.5%) 0.86 2,707
    2018-09-01 $258,725 (4.4%) $337,210 (1.7%) 0.87 2,637
    2018-10-01 $257,450 (5.2%) $339,736 (4.0%) 0.87 2,605
    2018-11-01 $259,000 (6.3%) $339,240 (3.0%) 0.88 2,575
    2018-12-01 $254,700 (1.9%) $338,117 (0.5%) 0.88 2,539
    2019-01-01 $255,000 (2.0%) $339,641 (1.2%) 0.88 2,433
    2019-02-01 $254,950 (2.0%) $342,453 (2.5%) 0.86 2,455
    2019-03-01 $263,329 (1.8%) $355,711 (4.4%) 0.86 2,443
    2019-04-01 $270,925 (3.7%) $374,519 (7.0%) 0.86 2,384
    2019-05-01 $275,225 (3.9%) $376,497 (8.2%) 0.86 2,397
    2019-06-01 $275,900 (5.4%) $383,440 (11.9%) 0.86 2,345
    2019-07-01 $279,000 (7.3%) $387,600 (13.7%) 0.87 2,308
    2019-08-01 $278,536 (8.4%) $387,367 (15.6%) 0.88 2,293
    2019-09-01 $276,491 (6.9%) $388,133 (15.1%) 0.88 2,283
    2019-10-01 $274,900 (6.8%) $387,961 (14.2%) 0.89 2,276
    2019-11-01 $274,900 (6.1%) $389,208 (14.7%) 0.90 2,210
    2019-12-01 $270,000 (6.0%) $390,041 (15.4%) 0.90 2,148
    2020-01-01 $269,900 (5.8%) $392,387 (15.5%) 0.90 2,051
    2020-02-01 $271,800 (6.6%) $392,301 (14.6%) 0.89 2,008
    2020-03-01 $283,973 (7.8%) $398,620 (12.1%) 0.89 1,963
    2020-04-01 $279,950 (3.3%) $391,287 (4.5%) 0.88 2,034
    2020-05-01 $289,000 (5.0%) $404,731 (7.5%) 0.88 1,921
    2020-06-01 $295,731 (7.2%) $425,737 (11.0%) 0.87 1,570
    2020-07-01 $291,900 (4.6%) $429,399 (10.8%) 0.85 1,483
    2020-08-01 $289,000 (3.8%) $442,223 (14.2%) 0.83 1,400
    2020-09-01 $289,900 (4.9%) $423,539 (9.1%) 0.83 1,266
    2020-10-01 $285,000 (3.7%) $434,665 (12.0%) 0.82 1,175
    2020-11-01 $281,825 (2.5%) $443,803 (14.0%) 0.82 1,134
    2020-12-01 $290,005 (7.4%) $442,666 (13.5%) 0.86 1,099
    2021-01-01 $300,000 (11.2%) $444,641 (13.3%) 0.90 1,025
    2021-02-01 $317,500 (16.8%) $477,274 (21.7%) 0.92 811
    2021-03-01 $339,450 (19.5%) $502,029 (25.9%) 0.96 757
    2021-04-01 $337,725 (20.6%) $505,060 (29.1%) 0.91 778
    2021-05-01 $339,000 (17.3%) $500,759 (23.7%) 0.90 837
    2021-06-01 $341,193 (15.4%) $498,924 (17.2%) 0.90 931
    2021-07-01 $335,750 (15.0%) $504,602 (17.5%) 0.89 1,080
    2021-08-01 $349,900 (21.1%) $509,639 (15.2%) 0.93 1,160
    2021-09-01 $347,225 (19.8%) $516,864 (22.0%) 0.93 1,216
    2021-10-01 $350,000 (22.8%) $520,877 (19.8%) 0.93 1,234
    2021-11-01 $356,925 (26.7%) $518,612 (16.9%) 0.95 1,208
    2021-12-01 $362,875 (25.1%) $531,853 (20.2%) 0.98 1,094
    2022-01-01 $369,900 (23.3%) $526,080 (18.3%) 1.00 983
    2022-02-01 $374,950 (18.1%) $568,539 (19.1%) 0.98 752
    2022-03-01 $375,062 (10.5%) $552,380 (10.0%) 0.94 749
    2022-04-01 $380,833 (12.8%) $554,640 (9.8%) 0.91 803
    2022-05-01 $389,967 (15.0%) $551,552 (10.1%) 0.89 1,029
    2022-06-01 $392,025 (14.9%) $556,851 (11.6%) 0.87 1,292
    2022-07-01 $394,900 (17.6%) $544,956 (8.0%) 0.89 1,744
    2022-08-01 $395,783 (13.1%) $554,168 (8.7%) 0.91 1,818
    2022-09-01 $392,000 (12.9%) $548,117 (6.1%) 0.92 1,815
    2022-10-01 $371,260 (6.1%) $503,247 (-3.4%) 0.87 2,542
    2022-11-01 $372,400 (4.3%) $498,532 (-3.9%) 0.90 2,566
    2022-12-01 $369,900 (1.9%) $497,534 (-6.5%) 0.91 2,363
    2023-01-01 $384,900 (4.1%) $512,182 (-2.6%) 0.95 1,976
    2023-02-01 $379,925 (1.3%) $510,048 (-10.3%) 0.92 1,814
    2023-03-01 $389,675 (3.9%) $528,670 (-4.3%) 0.92 1,719
    2023-04-01 $395,000 (3.7%) $541,809 (-2.3%) 0.92 1,705
    2023-05-01 $399,400 (2.4%) $552,510 (0.2%) 0.91 1,699
    2023-06-01 $393,769 (0.4%) $543,887 (-2.3%) 0.88 1,751
    2023-07-01 $388,000 (-1.8%) $536,841 (-1.5%) 0.88 1,835
    2023-08-01 $384,725 (-2.8%) $527,005 (-4.9%) 0.88 1,984
    2023-09-01 $375,000 (-4.3%) $518,430 (-5.4%) 0.87 2,127
    2023-10-01 $372,875 (0.4%) $515,897 (2.5%) 0.88 2,318
    2023-11-01 $367,350 (-1.4%) $513,637 (3.0%) 0.87 2,466
    2023-12-01 $364,900 (-1.4%) $510,492 (2.6%) 0.89 2,472
    2024-01-01 $361,200 (-6.2%) $512,652 (0.1%) 0.88 2,364
    2024-02-01 $365,000 (-3.9%) $516,662 (1.3%) 0.88 2,448
    2024-03-01 $369,000 (-5.3%) $522,860 (-1.1%) 0.87 2,569
    Pensacola's median listing price for 2024-03-01 was $369,000, a difference of $-20,675 (-5.3%) versus the prior year and $4,000 versus the prior month.

    Pensacola's median listing price comes in at 87% of the national average.

    Pensacola's average listing price for 2024-03-01 was $522,860, a difference of $-5,810 (-1.1%) versus the prior year and $6,198 versus the prior month.

    For the 2024-03-01 period, Pensacola had 2,569 MLS listings, a difference of 121 listings (5%) versus the prior month and 850 listings (49%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Pensacola (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 82 days 1,961 sqft
    2018-02-01 75 days 1,942 sqft
    2018-03-01 60 days 1,983 sqft
    2018-04-01 59 days 1,997 sqft
    2018-05-01 58 days 2,000 sqft
    2018-06-01 60 days 1,978 sqft
    2018-07-01 66 days 1,981 sqft
    2018-08-01 70 days 1,955 sqft
    2018-09-01 73 days 1,950 sqft
    2018-10-01 75 days 1,959 sqft
    2018-11-01 80 days 1,969 sqft
    2018-12-01 84 days 1,950 sqft
    2019-01-01 87 days 1,944 sqft
    2019-02-01 82 days 1,924 sqft
    2019-03-01 70 days 1,954 sqft
    2019-04-01 55 days 2,000 sqft
    2019-05-01 51 days 2,016 sqft
    2019-06-01 59 days 2,009 sqft
    2019-07-01 63 days 2,005 sqft
    2019-08-01 62 days 2,008 sqft
    2019-09-01 62 days 2,008 sqft
    2019-10-01 60 days 2,008 sqft
    2019-11-01 66 days 2,002 sqft
    2019-12-01 75 days 1,968 sqft
    2020-01-01 77 days 1,973 sqft
    2020-02-01 63 days 1,986 sqft
    2020-03-01 55 days 2,025 sqft
    2020-04-01 58 days 1,988 sqft
    2020-05-01 61 days 1,988 sqft
    2020-06-01 56 days 1,990 sqft
    2020-07-01 45 days 1,959 sqft
    2020-08-01 44 days 1,915 sqft
    2020-09-01 47 days 1,903 sqft
    2020-10-01 48 days 1,900 sqft
    2020-11-01 44 days 1,850 sqft
    2020-12-01 42 days 1,857 sqft
    2021-01-01 44 days 1,873 sqft
    2021-02-01 36 days 1,890 sqft
    2021-03-01 21 days 1,979 sqft
    2021-04-01 19 days 1,897 sqft
    2021-05-01 17 days 1,850 sqft
    2021-06-01 20 days 1,850 sqft
    2021-07-01 23 days 1,848 sqft
    2021-08-01 26 days 1,855 sqft
    2021-09-01 29 days 1,855 sqft
    2021-10-01 32 days 1,849 sqft
    2021-11-01 37 days 1,858 sqft
    2021-12-01 46 days 1,913 sqft
    2022-01-01 45 days 1,892 sqft
    2022-02-01 24 days 1,923 sqft
    2022-03-01 22 days 1,897 sqft
    2022-04-01 18 days 1,892 sqft
    2022-05-01 19 days 1,897 sqft
    2022-06-01 24 days 1,886 sqft
    2022-07-01 29 days 1,903 sqft
    2022-08-01 39 days 1,932 sqft
    2022-09-01 47 days 1,939 sqft
    2022-10-01 53 days 1,859 sqft
    2022-11-01 55 days 1,854 sqft
    2022-12-01 65 days 1,873 sqft
    2023-01-01 73 days 1,876 sqft
    2023-02-01 65 days 1,838 sqft
    2023-03-01 57 days 1,852 sqft
    2023-04-01 52 days 1,873 sqft
    2023-05-01 49 days 1,859 sqft
    2023-06-01 47 days 1,831 sqft
    2023-07-01 51 days 1,830 sqft
    2023-08-01 49 days 1,830 sqft
    2023-09-01 50 days 1,818 sqft
    2023-10-01 54 days 1,813 sqft
    2023-11-01 58 days 1,805 sqft
    2023-12-01 66 days 1,787 sqft
    2024-01-01 78 days 1,775 sqft
    2024-02-01 72 days 1,776 sqft
    2024-03-01 57 days 1,773 sqft
    Pensacola's median listing age (time on market) for 2024-03-01 was 57 days. This is 0% longer than the same period one year ago.

    Pensacola's median square footage for active listings during the 2024-03-01 period was 1,773 sqft. One year prior, the average listing was 1,852 sqft.