Pensacola USDA Loan Rates, Closing Costs & Stats

PENSACOLA-FERRY PASS-BRENT, 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.

Pensacola's 38 lenders originated 81 USDA loans during 2022. The total origination value was $18,605,000, with an average USDA loan value of $229,691.

Pensacola USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Pensacola averaged 6.33% for the week of 2023-09-22, compared to the national average (all USDA variants) of 7.021% for the same period.

Pensacola's average USDA mortgage closing costs are $5,040.

The average rate for the prior week (2023-09-15) was 6.59% and one month ago for the week of 2023-08-18, the average rate was 6.69%.

The average rate one year ago was 5.32%.

For refis of the same type during the week of 2023-09-22, the average rate was 5.46%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 4.76% $8,490
Synovus Bank 7 4.63% $7,984
HOMETRUST MORTGAGE COMPANY 6 4.17% $7,845
SOUTHEAST MORTGAGE OF GEORGIA, INC. 6 5.02% $8,578
THE MORTGAGE FIRM, INC. 5 4.45% $8,618
UNIVERSITY LENDING GROUP, LLC 3 4.00% $6,599
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 4.58% $5,692
FIRST COMMUNITY MORTGAGE, INC. 2 4.38% $5,545
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.94% $11,482
FIDELITY BANK 2 5.38% $9,057
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.69% $8,060
INLANTA MORTGAGE, INC. 2 3.44% $8,000
UNITED WHOLESALE MORTGAGE, LLC 2 4.92% $6,675
EVERETT FINANCIAL, INC. 2 5.19% $4,444
GMFS LLC 1 4.75% $3,755
HOME POINT FINANCIAL CORPORATION 1 5.00% $6,176
INSPIRE HOME LOANS INC. 1 4.99% $8,839
KELLER MORTGAGE, LLC 1 3.25% $6,432
LOANDEPOT.COM, LLC 1 5.50% $10,238
NFM, INC. 1 4.00% $6,859
PENNYMAC LOAN SERVICES, LLC 1 3.00% $4,736
PLAZA HOME MORTGAGE, INC. 1 6.75% $8,546
Truist 1 2.50% $7,077
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.50% $5,590
VILLAGE CAPITAL MORTGAGE 1 2.25% $6,999
AMERICAN PACIFIC MORTGAGE CORPORATION 1 4.38% $9,045
BancorpSouth 1 6.00% $5,065
BROKER SOLUTIONS, INC. 1 5.38% $6,409
CALIBER HOME LOANS, INC. 1 5.25% $7,929
CARDINAL FINANCIAL 1 4.25% $14,243
Centennial Bank 1 5.38% $6,697
Citizens Bank 1 5.25% $3,891
CROSSCOUNTRY MORTGAGE, LLC 1 6.00% $7,825
DAS Acquisition Company, LLC 1 5.63% $6,896
DHI MORTGAGE COMPANY, LTD. 1 3.50% $7,081
DSLD MORTGAGE, LLC 1 4.25% $6,444
EAGLE HOME MORTGAGE, LLC 1 4.75% $7,653
Gateway First Bank 1 6.63% $8,408

The top Pensacola USDA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 9 USDA loans originated. Their average total fees are $8,490, which is $505 higher than the next largest lender, Synovus Bank.

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%) $335,624 (9.7%) 0.93 2,376
2018-02-01 $250,000 (9.7%) $334,245 (7.2%) 0.91 2,421
2018-03-01 $258,800 (11.1%) $340,821 (6.4%) 0.91 2,445
2018-04-01 $261,350 (9.7%) $349,987 (6.2%) 0.89 2,455
2018-05-01 $264,900 (10.1%) $348,140 (0.5%) 0.88 2,599
2018-06-01 $261,900 (8.3%) $342,910 (3.5%) 0.87 2,630
2018-07-01 $260,125 (6.2%) $340,981 (4.5%) 0.87 2,727
2018-08-01 $256,975 (5.2%) $335,258 (3.5%) 0.86 2,708
2018-09-01 $258,750 (4.4%) $337,299 (1.7%) 0.87 2,638
2018-10-01 $257,563 (5.2%) $339,825 (4.0%) 0.87 2,606
2018-11-01 $259,000 (6.3%) $339,284 (3.0%) 0.88 2,576
2018-12-01 $254,700 (1.9%) $338,136 (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%) $355,675 (4.4%) 0.86 2,443
2019-04-01 $270,925 (3.7%) $374,476 (7.0%) 0.86 2,384
2019-05-01 $275,450 (4.0%) $376,679 (8.2%) 0.86 2,398
2019-06-01 $275,900 (5.4%) $383,811 (11.9%) 0.86 2,346
2019-07-01 $279,000 (7.3%) $387,946 (13.8%) 0.87 2,309
2019-08-01 $278,536 (8.4%) $387,681 (15.6%) 0.88 2,294
2019-09-01 $276,491 (6.9%) $388,443 (15.2%) 0.88 2,284
2019-10-01 $274,900 (6.7%) $388,266 (14.3%) 0.89 2,277
2019-11-01 $274,900 (6.1%) $389,525 (14.8%) 0.90 2,211
2019-12-01 $270,000 (6.0%) $390,366 (15.5%) 0.90 2,149
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 $283,995 (7.9%) $398,949 (12.2%) 0.89 1,964
2020-04-01 $279,975 (3.3%) $391,614 (4.6%) 0.88 2,035
2020-05-01 $289,000 (4.9%) $405,029 (7.5%) 0.88 1,922
2020-06-01 $295,836 (7.2%) $426,082 (11.0%) 0.87 1,571
2020-07-01 $291,900 (4.6%) $429,399 (10.7%) 0.85 1,483
2020-08-01 $289,000 (3.8%) $442,223 (14.1%) 0.83 1,400
2020-09-01 $289,900 (4.9%) $423,539 (9.0%) 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 (13.9%) 0.82 1,134
2020-12-01 $290,005 (7.4%) $442,666 (13.4%) 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 (25.8%) 0.96 757
2021-04-01 $337,725 (20.6%) $505,060 (29.0%) 0.91 778
2021-05-01 $339,000 (17.3%) $500,759 (23.6%) 0.90 837
2021-06-01 $341,193 (15.3%) $498,924 (17.1%) 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 $374,925 (18.1%) $568,321 (19.1%) 0.98 752
2022-03-01 $375,031 (10.5%) $551,965 (10.0%) 0.94 750
2022-04-01 $380,011 (12.5%) $554,229 (9.7%) 0.91 803
2022-05-01 $389,601 (14.9%) $551,494 (10.1%) 0.89 1,028
2022-06-01 $391,725 (14.8%) $556,791 (11.6%) 0.87 1,292
2022-07-01 $394,900 (17.6%) $545,029 (8.0%) 0.89 1,743
2022-08-01 $396,316 (13.3%) $554,328 (8.8%) 0.92 1,817
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 $389,450 (3.8%) $528,524 (-4.3%) 0.92 1,720
2023-04-01 $395,000 (3.9%) $541,661 (-2.3%) 0.92 1,706
2023-05-01 $399,083 (2.4%) $552,356 (0.2%) 0.90 1,700
2023-06-01 $393,769 (0.5%) $543,815 (-2.3%) 0.88 1,752
2023-07-01 $388,000 (-1.8%) $536,841 (-1.5%) 0.88 1,835
2023-08-01 $384,725 (-2.9%) $527,005 (-4.9%) 0.88 1,984
Pensacola's median listing price for 2023-08-01 was $384,725, a difference of $-11,591 (-2.9%) versus the prior year and $-3,275 versus the prior month.

Pensacola's median listing price comes in at 88% of the national average.

Pensacola's average listing price for 2023-08-01 was $527,005, a difference of $-27,323 (-4.9%) versus the prior year and $-9,836 versus the prior month.

For the 2023-08-01 period, Pensacola had 1,984 MLS listings, a difference of 149 listings (8%) versus the prior month and 167 listings (9%) 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 1,960 sqft
2018-02-01 75 days 1,941 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 1,954 sqft
2018-09-01 73 days 1,950 sqft
2018-10-01 75 days 1,959 sqft
2018-11-01 80 days 1,968 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 65 days 2,004 sqft
2019-12-01 75 days 1,969 sqft
2020-01-01 77 days 1,973 sqft
2020-02-01 63 days 1,986 sqft
2020-03-01 55 days 2,026 sqft
2020-04-01 58 days 1,988 sqft
2020-05-01 61 days 1,989 sqft
2020-06-01 56 days 1,991 sqft
2020-07-01 45 days 1,959 sqft
2020-08-01 44 days 1,914 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 1,922 sqft
2022-03-01 22 days 1,896 sqft
2022-04-01 18 days 1,891 sqft
2022-05-01 19 days 1,896 sqft
2022-06-01 24 days 1,885 sqft
2022-07-01 29 days 1,903 sqft
2022-08-01 39 days 1,933 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 1,858 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
Pensacola's median listing age (time on market) for 2023-08-01 was 49 days. This is 24% longer than the same period one year ago.

Pensacola's median square footage for active listings during the 2023-08-01 period was 1,830 sqft. One year prior, the average listing was 1,933 sqft.