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 57 lenders originated 226 USDA loans during 2021. The total origination value was $46,880,000, with an average USDA loan value of $207,434.

Pensacola USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Pensacola averaged 6.61% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Pensacola's average USDA mortgage closing costs are $4,841.

The average rate for the prior week (2022-11-25) was 6.75% and one month ago for the week of 2022-10-28, the average rate was 7.02%.

The average rate one year ago was 3.42%.

For refis of the same type during the week of 2022-12-02, the average rate was 5.99%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
THE MORTGAGE FIRM, INC. 31 3.12% $5,653
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 31 3.23% $6,150
INLANTA MORTGAGE, INC. 15 3.15% $6,011
UNIVERSITY LENDING GROUP, LLC 11 2.98% $5,248
DHI MORTGAGE COMPANY, LTD. 8 2.58% $5,816
AMERICAN MORTGAGE SERVICE COMPANY 8 2.97% $5,939
Synovus Bank 7 2.79% $6,485
UNITED WHOLESALE MORTGAGE, LLC 7 2.92% $6,366
HOMETRUST MORTGAGE COMPANY 6 2.88% $5,748
LOANDEPOT.COM, LLC 6 3.15% $7,313
SOUTHEAST MORTGAGE OF GEORGIA, INC. 6 2.77% $5,988
UNION HOME MORTGAGE CORP. 6 2.46% $4,453
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 2.88% $5,376
HOME POINT FINANCIAL CORPORATION 5 2.63% $6,113
PENNYMAC LOAN SERVICES, LLC 4 2.69% $6,099
FIDELITY BANK 4 2.66% $5,447
CERTAINTY HOME LOANS, LLC 4 3.09% $4,463
Citizens Bank 4 2.69% $4,165
MORTGAGE ONE OF THE SOUTH, INC. 3 2.58% $4,696
EVERETT FINANCIAL, INC. 3 3.38% $4,200
FIRST COMMUNITY MORTGAGE, INC. 3 2.92% $4,995
Bank of England 2 3.13% $6,960
Truist 2 3.06% $5,849
Hometown Lenders, Inc. 2 2.88% $5,823
FBC MORTGAGE, LLC 2 3.13% $4,624
KELLER MORTGAGE, LLC 2 2.94% $4,141
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.38% $6,058
BROKER SOLUTIONS, INC. 2 3.50% $6,115
SIGNATURE MORTGAGE CORPORATION 2 2.81% $6,814
DSLD MORTGAGE, LLC 2 2.56% $5,625
Wells Fargo Bank 1 2.88% $3,359
AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $8,373
Ameris Bank 1 3.13% $4,509
A Mortgage Boutique, LLC 1 3.25% $6,952
Carrington Mortgage Services, LLC 1 2.63% $4,469
Centennial Bank 1 2.75% $2,718
Colten Mortgage, LLC 1 3.25% $5,641
Flagstar Bank, FSB 1 2.50% $5,457
GoPrime Mortgage, Inc. 1 2.75% $4,406
GUARANTEED RATE AFFINITY, LLC 1 2.88% $5,628
GUARANTY HOME MORTGAGE CORPORATION 1 2.75% $3,831
GUILD MORTGAGE COMPANY 1 2.75% $7,005
HAMILTON HOME LOANS, INC. 1 3.25% $6,132
HANCOCK MORTGAGE PARTNERS, LLC 1 3.50% $4,281
HOMESTAR FINANCIAL CORPORATION 1 2.88% $4,333
INTERLINC MORTGAGE SERVICES, LLC 1 2.88% $4,371
LAND HOME FINANCIAL SERVICES, INC. 1 2.75% $5,486
OPEN MORTGAGE, LLC 1 2.75% $5,685
Plains Commerce Bank 1 3.13% $4,179
PLAZA HOME MORTGAGE, INC. 1 3.13% $6,578
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.63% $5,095
Renasant Bank 1 2.75% $3,981
SOUTHPOINT FINANCIAL SERVICES, INC. 1 3.13% $1,977
STOCKTON MORTGAGE CORPORATION 1 2.88% $4,432
SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $4,753
SWBC MORTGAGE CORPORATION 1 3.25% $3,283
ACADEMY MORTGAGE CORPORATION 1 3.75% $4,642

The top Pensacola USDA lender as defined by loan originations is THE MORTGAGE FIRM, INC., with 31 USDA loans originated. Their average total fees are $5,653, which is $498 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Pensacola USDA lenders (with over 10 loans originated) are UNIVERSITY LENDING GROUP, LLC ($5,248), THE MORTGAGE FIRM, INC. ($5,653), INLANTA MORTGAGE, INC. ($6,011), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,150) and .

The lowest rate Pensacola USDA lenders (with over 10 loans originated) are UNIVERSITY LENDING GROUP, LLC (2.98%), THE MORTGAGE FIRM, INC. (3.12%), INLANTA MORTGAGE, INC. (3.15%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (3.23%) and .


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%) $335,823 (9.8%) 0.93 2,377
2018-02-01 $250,000 (9.7%) $334,438 (7.2%) 0.91 2,422
2018-03-01 $258,850 (11.1%) $341,007 (6.5%) 0.91 2,446
2018-04-01 $261,400 (9.7%) $350,170 (6.2%) 0.89 2,456
2018-05-01 $264,900 (10.0%) $348,316 (0.6%) 0.88 2,600
2018-06-01 $261,900 (8.3%) $343,087 (3.5%) 0.87 2,631
2018-07-01 $260,250 (6.2%) $341,151 (4.5%) 0.87 2,728
2018-08-01 $257,000 (5.2%) $335,433 (3.6%) 0.86 2,709
2018-09-01 $258,800 (4.4%) $337,477 (1.7%) 0.87 2,639
2018-10-01 $257,675 (5.3%) $340,007 (4.0%) 0.87 2,607
2018-11-01 $259,000 (6.3%) $339,468 (3.1%) 0.88 2,577
2018-12-01 $254,900 (2.0%) $338,325 (0.5%) 0.88 2,540
2019-01-01 $255,250 (2.1%) $339,833 (1.2%) 0.88 2,434
2019-02-01 $254,950 (2.0%) $342,641 (2.5%) 0.86 2,456
2019-03-01 $263,468 (1.8%) $355,858 (4.4%) 0.86 2,446
2019-04-01 $271,075 (3.7%) $374,689 (7.0%) 0.86 2,387
2019-05-01 $275,450 (4.0%) $376,664 (8.1%) 0.86 2,402
2019-06-01 $275,900 (5.4%) $383,653 (11.8%) 0.86 2,352
2019-07-01 $279,000 (7.2%) $387,788 (13.7%) 0.87 2,315
2019-08-01 $278,536 (8.4%) $387,517 (15.5%) 0.88 2,300
2019-09-01 $276,491 (6.8%) $388,286 (15.1%) 0.88 2,291
2019-10-01 $274,900 (6.7%) $388,109 (14.2%) 0.89 2,284
2019-11-01 $274,900 (6.1%) $389,352 (14.7%) 0.90 2,218
2019-12-01 $270,475 (6.1%) $390,201 (15.3%) 0.90 2,156
2020-01-01 $269,925 (5.8%) $392,212 (15.4%) 0.90 2,058
2020-02-01 $271,900 (6.7%) $392,119 (14.4%) 0.89 2,015
2020-03-01 $283,995 (7.8%) $398,596 (12.0%) 0.89 1,972
2020-04-01 $279,975 (3.3%) $391,293 (4.4%) 0.88 2,043
2020-05-01 $289,000 (4.9%) $404,646 (7.4%) 0.88 1,930
2020-06-01 $295,836 (7.2%) $425,532 (10.9%) 0.87 1,579
2020-07-01 $291,900 (4.6%) $428,811 (10.6%) 0.85 1,491
2020-08-01 $289,000 (3.8%) $441,543 (13.9%) 0.83 1,408
2020-09-01 $289,900 (4.9%) $422,871 (8.9%) 0.83 1,274
2020-10-01 $285,000 (3.7%) $433,895 (11.8%) 0.82 1,183
2020-11-01 $281,825 (2.5%) $442,957 (13.8%) 0.82 1,142
2020-12-01 $290,005 (7.2%) $441,785 (13.2%) 0.86 1,107
2021-01-01 $300,000 (11.1%) $443,719 (13.1%) 0.90 1,033
2021-02-01 $317,450 (16.8%) $475,931 (21.4%) 0.92 819
2021-03-01 $338,500 (19.2%) $500,414 (25.5%) 0.96 765
2021-04-01 $336,250 (20.1%) $503,517 (28.7%) 0.91 786
2021-05-01 $336,900 (16.6%) $499,488 (23.4%) 0.89 844
2021-06-01 $339,500 (14.8%) $497,812 (17.0%) 0.89 938
2021-07-01 $335,000 (14.8%) $503,770 (17.5%) 0.88 1,086
2021-08-01 $349,900 (21.1%) $509,098 (15.3%) 0.93 1,165
2021-09-01 $347,000 (19.7%) $516,002 (22.0%) 0.93 1,224
2021-10-01 $350,000 (22.8%) $519,706 (19.8%) 0.93 1,242
2021-11-01 $356,213 (26.4%) $517,520 (16.8%) 0.95 1,216
2021-12-01 $362,450 (25.0%) $530,407 (20.1%) 0.98 1,102
2022-01-01 $369,900 (23.3%) $526,163 (18.6%) 1.00 991
2022-02-01 $372,425 (17.3%) $566,431 (19.0%) 0.97 760
2022-03-01 $375,483 (10.9%) $551,871 (10.3%) 0.94 757
2022-04-01 $380,000 (13.0%) $553,022 (9.8%) 0.91 811
2022-05-01 $389,175 (15.5%) $549,942 (10.1%) 0.89 1,037
2022-06-01 $391,950 (15.5%) $555,982 (11.7%) 0.87 1,301
2022-07-01 $394,900 (17.9%) $544,464 (8.1%) 0.89 1,752
2022-08-01 $395,151 (12.9%) $553,622 (8.8%) 0.91 1,825
2022-09-01 $392,000 (13.0%) $547,186 (6.0%) 0.92 1,823
2022-10-01 $371,250 (6.1%) $502,769 (-3.3%) 0.87 2,550
2022-11-01 $372,400 (4.5%) $498,126 (-3.8%) 0.90 2,574
Pensacola's median listing price for 2022-11-01 was $372,400, a difference of $16,187 (4.5%) versus the prior year and $1,150 versus the prior month.

Pensacola's median listing price comes in at 90% of the national average.

Pensacola's average listing price for 2022-11-01 was $498,126, a difference of $-19,394 (-3.8%) versus the prior year and $-4,643 versus the prior month.

For the 2022-11-01 period, Pensacola had 2,574 MLS listings, a difference of 24 listings (1%) versus the prior month and 1,358 listings (112%) 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 92 days 1,961 sqft
2018-02-01 87 days 1,942 sqft
2018-03-01 69 days 1,983 sqft
2018-04-01 66 days 1,997 sqft
2018-05-01 65 days 2,000 sqft
2018-06-01 65 days 1,978 sqft
2018-07-01 72 days 1,981 sqft
2018-08-01 75 days 1,955 sqft
2018-09-01 81 days 1,950 sqft
2018-10-01 84 days 1,959 sqft
2018-11-01 89 days 1,969 sqft
2018-12-01 93 days 1,950 sqft
2019-01-01 97 days 1,945 sqft
2019-02-01 93 days 1,925 sqft
2019-03-01 79 days 1,954 sqft
2019-04-01 61 days 2,000 sqft
2019-05-01 56 days 2,016 sqft
2019-06-01 65 days 2,009 sqft
2019-07-01 68 days 2,005 sqft
2019-08-01 68 days 2,008 sqft
2019-09-01 68 days 2,008 sqft
2019-10-01 67 days 2,008 sqft
2019-11-01 71 days 2,005 sqft
2019-12-01 81 days 1,971 sqft
2020-01-01 84 days 1,973 sqft
2020-02-01 67 days 1,986 sqft
2020-03-01 59 days 2,027 sqft
2020-04-01 63 days 1,989 sqft
2020-05-01 66 days 1,990 sqft
2020-06-01 63 days 1,991 sqft
2020-07-01 53 days 1,959 sqft
2020-08-01 50 days 1,915 sqft
2020-09-01 52 days 1,904 sqft
2020-10-01 53 days 1,900 sqft
2020-11-01 51 days 1,850 sqft
2020-12-01 47 days 1,859 sqft
2021-01-01 50 days 1,874 sqft
2021-02-01 44 days 1,890 sqft
2021-03-01 24 days 1,979 sqft
2021-04-01 22 days 1,897 sqft
2021-05-01 18 days 1,850 sqft
2021-06-01 22 days 1,850 sqft
2021-07-01 24 days 1,848 sqft
2021-08-01 28 days 1,855 sqft
2021-09-01 30 days 1,855 sqft
2021-10-01 34 days 1,849 sqft
2021-11-01 39 days 1,858 sqft
2021-12-01 49 days 1,913 sqft
2022-01-01 50 days 1,900 sqft
2022-02-01 27 days 1,923 sqft
2022-03-01 23 days 1,900 sqft
2022-04-01 20 days 1,892 sqft
2022-05-01 21 days 1,897 sqft
2022-06-01 25 days 1,888 sqft
2022-07-01 30 days 1,903 sqft
2022-08-01 41 days 1,935 sqft
2022-09-01 48 days 1,940 sqft
2022-10-01 54 days 1,853 sqft
2022-11-01 57 days 1,854 sqft
Pensacola's median listing age (time on market) for 2022-11-01 was 57 days. This is 45% longer than the same period one year ago.

Pensacola's median square footage for active listings during the 2022-11-01 period was 1,854 sqft. One year prior, the average listing was 1,858 sqft.