Pensacola USDA Loan Rates, Closing Costs & Stats

PENSACOLA-FERRY PASS-BRENT, FL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.