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 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 6.41% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.43% and one month ago for the week of 2024-03-08, the average rate was 6.39%.

The average rate one year ago was 5.8%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.92%.

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.