Panama City VA Loan Rates, Closing Costs & Stats

PANAMA CITY, FL

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Panama City's 127 lenders originated 1,242 VA loans during 2022. The total origination value was $420,880,000, with an average VA loan value of $338,873.

Panama City VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Panama City averaged 6.19% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

Panama City's average VA mortgage closing costs are $6,886.

The average rate for the prior week (2023-05-19) was 5.82% and one month ago for the week of 2023-04-21, the average rate was 6.04%.

The average rate one year ago was 5.01%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.21%.

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

Panama City VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Panama City level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 162 4.14% $10,016
Mortgage Research Center, LLC 133 4.88% $10,214
QUICKEN LOANS, LLC 74 4.38% $11,260
UNITED WHOLESALE MORTGAGE, LLC 64 3.99% $11,065
NAVY FEDERAL CREDIT UNION 59 3.73% $8,055
LOANDEPOT.COM, LLC 45 4.46% $13,169
MOVEMENT MORTGAGE, LLC 41 4.82% $9,478
CALIBER HOME LOANS, INC. 41 4.32% $11,399
BROKER SOLUTIONS, INC. 40 4.39% $10,905
USAA Federal Savings Bank 37 4.28% $9,573
Trustmark National Bank 33 4.59% $8,483
PENNYMAC LOAN SERVICES, LLC 30 3.48% $10,491
Centennial Bank 28 4.75% $9,324
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 23 4.48% $9,761
FREEDOM MORTGAGE CORPORATION 23 4.27% $13,432
EVERETT FINANCIAL, INC. 23 4.50% $11,613
Tyndall Federal Credit Union 19 4.84% $7,469
CROSSCOUNTRY MORTGAGE, LLC 16 5.56% $11,528
Mr. Cooper ( Nationstar Mortgage ) 13 4.55% $13,935
Wells Fargo Bank 12 3.03% $11,003
The Federal Savings Bank 11 4.60% $14,956
United Fidelity Funding Corp. 11 4.34% $15,139
PRIMELENDING, A PLAINSCAPITAL COMPANY 10 4.79% $8,096
CARDINAL FINANCIAL 9 5.61% $9,584
CMG MORTGAGE, INC. 9 4.50% $12,678
NEW DAY FINANCIAL, LLC 9 4.87% $11,116
HOME POINT FINANCIAL CORPORATION 8 3.64% $8,808
LAKEVIEW LOAN SERVICING, LLC 8 3.58% $5,339
PENTAGON FEDERAL CREDIT UNION 8 3.38% $9,759
LOANPAL, LLC 8 3.72% $10,792
HANCOCK MORTGAGE PARTNERS, LLC 7 5.52% $12,069
Progress Bank and Trust 6 5.19% $11,253
Regions Bank 6 4.85% $10,317
First Federal Bank 6 4.83% $9,635
FBC MORTGAGE, LLC 5 4.08% $8,490
NBKC BANK 5 4.18% $8,189
Flagstar Bank, FSB 5 4.57% $9,603
Waterstone Mortgage Corporation 5 4.43% $7,838
PLAZA HOME MORTGAGE, INC. 4 5.31% $8,138
VILLAGE CAPITAL MORTGAGE 4 2.94% $5,543
GUARANTEED RATE, INC. 4 4.35% $8,010
NATIONS DIRECT MORTGAGE, LLC 4 5.28% $9,256
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 3.88% $11,348
Equity Prime Mortgage LLC 4 5.63% $7,532
Barrington Bank & Trust Company, N.A. 4 3.81% $13,132
VANDERBILT MORTGAGE AND FINANCE, INC. 4 5.03% $12,403
Bank of England 3 4.46% $10,287
NEWREZ LLC 3 5.33% $10,832
Carrington Mortgage Services, LLC 3 4.33% $8,310
PLANET HOME LENDING, LLC 3 4.71% $6,397
GENEVA FINANCIAL, LLC 3 4.42% $6,253
GUARANTEED RATE AFFINITY, LLC 3 5.36% $4,091
THE MORTGAGE FIRM, INC. 3 6.58% $7,962
LAND HOME FINANCIAL SERVICES, INC. 3 6.13% $8,335
AMERISAVE MORTGAGE CORPORATION 3 4.75% $10,539
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 4.71% $7,408
HOMESTAR FINANCIAL CORPORATION 2 4.75% $4,972
FINANCE OF AMERICA MORTGAGE LLC 2 5.31% $8,098
MUTUAL OF OMAHA MORTGAGE, INC. 2 3.88% $9,140
Citizens Bank 2 5.19% $9,600
UNIVERSITY LENDING GROUP, LLC 2 4.31% $8,141
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 5.31% $10,773
UNION HOME MORTGAGE CORP. 2 3.25% $11,488
Truist 2 3.90% $2,620
GMFS LLC 2 4.69% $9,135
Strong Home Mortgage, LLC 2 4.25% $11,285
Mid-Continent Funding, Inc. 2 6.50% $11,151
SOUTHWEST STAGE FUNDING, LLC 2 5.81% $386
First Internet Bank of Indiana 2 3.38% $5,972
North American Savings Bank, F.S.B. 2 4.88% $15,711
OPEN MORTGAGE, LLC 2 4.56% $9,215
CityWorth Mortgage LLC 2 3.63% $8,287
CLEARPATH LENDING 2 2.75% $4,111
INSPIRE HOME LOANS INC. 2 5.75% $11,275
Wyndham Capital Mortgage, Inc. 1 4.75% $15,702
AMERICAN FINANCING CORPORATION 1 2.88% $5,768
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.75% $9,381
Armed Forces Bank 1 4.13% $6,965
CANOPY MORTGAGE, LLC 1 3.25% $8,791
Capital City Home Loans, LLC 1 5.25% $18,337
Century Mortgage Company DBA Century Lending Company 1 4.63% $7,648
CERTAINTY HOME LOANS, LLC 1 4.75% $11,920
CHERRY CREEK MORTGAGE, LLC 1 4.13% $925
CHURCHILL MORTGAGE CORPORATION 1 4.88% $14,789
CONTOUR MORTGAGE CORPORATION 1 5.63% $20,882
Credence Funding Corporation 1 2.38% $4,559
ENVOY MORTGAGE, LTD 1 5.13% $561
FIDELITY BANK 1 3.63% $10,485
FirstBank 1 2.75% $3,174
First Horizon Bank 1 2.75% $10,603
GUILD MORTGAGE COMPANY 1 3.13% $5,884
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.25% $7,917
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.25% $25,972
HOMESIDE FINANCIAL, LLC 1 7.25% $11,752
INTERCAP LENDING INC. 1 5.63% $9,774
INTERLINC MORTGAGE SERVICES, LLC 1 3.25% $11,717
LADERA LENDING, INC. 1 4.63% $18,020
LEADERONE FINANCIAL CORPORATION 1 3.75% $5,073
Low VA Rates, LLC 1 4.50% $12,480
Magnolia Bank 1 2.75% $12,682
MCLEAN MORTGAGE CORPORATION 1 4.38% $13,021
Meridian Bank Corporation 1 2.63% $11,848
MID AMERICA MORTGAGE, INC. 1 5.25% $6,764
MORTGAGE INVESTORS GROUP, INC. 1 5.75% $1,552
Nations Lending Corporation 1 5.75% $7,421
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.13% $8,373
NFM, INC. 1 7.25% $7,992
Northpointe Bank 1 5.63% $4,683
Paramount Residential Mortgage Group, Inc. 1 5.25% $13,486
Prime Choice Funding Inc. 1 2.25% $9,060
Prosperity Home Mortgage, LLC 1 5.50% $11,267
Renasant Bank 1 3.63% $20,550
ROYAL UNITED MORTGAGE LLC 1 3.75% $11,475
SECURITYNATIONAL MORTGAGE COMPANY 1 3.25% $10,748
South State Bank 1 4.25% $10,244
SUCCESS MORTGAGE PARTNERS, INC. 1 4.00% $17,425
Sunflower Bank 1 4.88% $7,186
SUN WEST MORTGAGE COMPANY, INC. 1 4.88% $12,601
Synovus Bank 1 3.63% $31,544
Texana Bank 1 4.00% $6,861
TJC Mortgage, Inc. 1 2.25% $4,117
Towne Bank 1 5.13% $5,119
TOWNE MORTGAGE COMPANY 1 2.99% $17,443
University Bank 1 6.13% $7,187
U.S. Bank 1 4.63% $4,087
Vellum Mortgage, Inc. 1 4.88% $13,158
ALLIED MORTGAGE GROUP, INC. 1 4.00% $9,077

The top Panama City VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 162 VA loans originated. Their average total fees are $10,016, which is $198 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Panama City VA lenders (with over 10 loans originated) are Tyndall Federal Credit Union ($7,469), NAVY FEDERAL CREDIT UNION ($8,055), PRIMELENDING, A PLAINSCAPITAL COMPANY ($8,096), Trustmark National Bank ($8,483) and Centennial Bank ($9,324).

The lowest rate Panama City VA lenders (with over 10 loans originated) are Wells Fargo Bank (3.03%), PENNYMAC LOAN SERVICES, LLC (3.48%), NAVY FEDERAL CREDIT UNION (3.73%), UNITED WHOLESALE MORTGAGE, LLC (3.99%) and DHI MORTGAGE COMPANY, LTD. (4.14%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Panama City (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 $270,500 (4.4%) $349,728 (5.3%) 1.00 1,635
2018-02-01 $270,225 (5.0%) $348,625 (4.8%) 0.98 1,663
2018-03-01 $275,000 (5.8%) $352,232 (3.7%) 0.96 1,693
2018-04-01 $285,000 (5.6%) $355,983 (2.1%) 0.97 1,752
2018-05-01 $280,731 (2.5%) $364,455 (2.9%) 0.94 1,784
2018-06-01 $289,900 (5.4%) $375,519 (4.8%) 0.97 1,681
2018-07-01 $289,000 (5.1%) $381,350 (5.8%) 0.97 1,684
2018-08-01 $288,500 (4.9%) $382,098 (4.7%) 0.97 1,715
2018-09-01 $285,000 (3.7%) $368,168 (2.2%) 0.96 1,773
2018-10-01 $286,500 (6.1%) $371,489 (4.6%) 0.97 1,688
2018-11-01 $296,000 (7.7%) $385,855 (9.5%) 1.00 1,461
2018-12-01 $307,950 (12.1%) $391,748 (8.9%) 1.06 1,502
2019-01-01 $309,700 (14.5%) $392,062 (12.1%) 1.07 1,460
2019-02-01 $312,473 (15.6%) $399,836 (14.7%) 1.06 1,536
2019-03-01 $325,000 (18.2%) $410,403 (16.5%) 1.08 1,477
2019-04-01 $328,500 (15.3%) $417,637 (17.3%) 1.04 1,517
2019-05-01 $320,913 (14.3%) $417,582 (14.6%) 1.00 1,593
2019-06-01 $321,000 (10.7%) $406,790 (8.3%) 1.00 1,580
2019-07-01 $322,450 (11.6%) $411,029 (7.8%) 1.01 1,603
2019-08-01 $325,150 (12.7%) $413,336 (8.2%) 1.02 1,624
2019-09-01 $326,748 (14.7%) $409,498 (11.2%) 1.03 1,680
2019-10-01 $299,900 (4.7%) $383,933 (3.4%) 0.97 1,861
2019-11-01 $299,000 (1.0%) $377,174 (-2.3%) 0.98 1,864
2019-12-01 $295,500 (-4.0%) $370,422 (-5.4%) 0.99 1,932
2020-01-01 $294,000 (-5.1%) $376,451 (-4.0%) 0.98 1,867
2020-02-01 $289,500 (-7.4%) $373,248 (-6.7%) 0.95 1,894
2020-03-01 $296,975 (-8.6%) $381,099 (-7.1%) 0.93 1,997
2020-04-01 $297,175 (-9.5%) $379,654 (-9.1%) 0.93 2,209
2020-05-01 $299,000 (-6.8%) $383,193 (-8.2%) 0.91 2,146
2020-06-01 $313,450 (-2.4%) $388,504 (-4.5%) 0.92 1,901
2020-07-01 $313,450 (-2.8%) $389,871 (-5.2%) 0.91 1,721
2020-08-01 $314,900 (-3.2%) $392,667 (-5.0%) 0.90 1,605
2020-09-01 $310,000 (-5.1%) $400,528 (-2.2%) 0.89 1,424
2020-10-01 $312,013 (4.0%) $417,351 (8.7%) 0.89 1,346
2020-11-01 $310,325 (3.8%) $430,510 (14.1%) 0.91 1,322
2020-12-01 $296,775 (0.4%) $417,316 (12.7%) 0.88 1,411
2021-01-01 $290,000 (-1.4%) $404,925 (7.6%) 0.87 1,413
2021-02-01 $291,813 (0.8%) $423,602 (13.5%) 0.85 997
2021-03-01 $298,123 (0.4%) $449,453 (17.9%) 0.85 807
2021-04-01 $317,548 (6.9%) $499,363 (31.5%) 0.86 673
2021-05-01 $339,500 (13.6%) $540,289 (41.0%) 0.90 637
2021-06-01 $363,575 (16.0%) $572,507 (47.4%) 0.96 651
2021-07-01 $389,000 (24.1%) $556,863 (42.8%) 1.03 836
2021-08-01 $404,900 (28.6%) $559,942 (42.6%) 1.08 998
2021-09-01 $411,250 (32.7%) $566,448 (41.4%) 1.10 1,042
2021-10-01 $412,700 (32.3%) $560,813 (34.4%) 1.10 1,018
2021-11-01 $394,750 (27.2%) $558,436 (29.7%) 1.06 910
2021-12-01 $374,995 (26.4%) $557,394 (33.6%) 1.02 829
2022-01-01 $379,000 (30.7%) $592,486 (46.3%) 1.02 696
2022-02-01 $419,888 (43.9%) $631,039 (49.0%) 1.09 569
2022-03-01 $434,500 (45.8%) $686,372 (52.7%) 1.09 604
2022-04-01 $475,000 (49.6%) $720,132 (44.2%) 1.13 769
2022-05-01 $492,125 (45.0%) $747,613 (38.4%) 1.13 959
2022-06-01 $499,900 (37.5%) $731,418 (27.8%) 1.11 1,186
2022-07-01 $495,000 (27.3%) $687,028 (23.4%) 1.12 1,473
2022-08-01 $486,200 (20.1%) $665,965 (18.9%) 1.12 1,616
2022-09-01 $457,540 (11.3%) $634,387 (12.0%) 1.07 1,672
2022-10-01 $449,000 (8.8%) $613,190 (9.3%) 1.06 1,737
2022-11-01 $442,100 (12.0%) $594,711 (6.5%) 1.06 1,776
2022-12-01 $439,900 (17.3%) $596,564 (7.0%) 1.09 1,689
2023-01-01 $442,400 (16.7%) $600,895 (1.4%) 1.09 1,569
2023-02-01 $439,950 (4.8%) $596,448 (-5.5%) 1.06 1,490
2023-03-01 $439,500 (1.2%) $614,004 (-10.5%) 1.04 1,484
2023-04-01 $459,000 (-3.4%) $638,393 (-11.4%) 1.07 1,488
Panama City's median listing price for 2023-04-01 was $459,000, a difference of $-16,000 (-3.4%) versus the prior year and $19,500 versus the prior month.

Panama City's median listing price comes in at 107% of the national average.

Panama City's average listing price for 2023-04-01 was $638,393, a difference of $-81,739 (-11.4%) versus the prior year and $24,389 versus the prior month.

For the 2023-04-01 period, Panama City had 1,488 MLS listings, a difference of 4 listings (0%) versus the prior month and 719 listings (93%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Panama City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 100 days 1,602 sqft
2018-02-01 91 days 1,613 sqft
2018-03-01 67 days 1,620 sqft
2018-04-01 67 days 1,627 sqft
2018-05-01 65 days 1,628 sqft
2018-06-01 76 days 1,655 sqft
2018-07-01 79 days 1,678 sqft
2018-08-01 80 days 1,650 sqft
2018-09-01 79 days 1,634 sqft
2018-10-01 93 days 1,624 sqft
2018-11-01 108 days 1,605 sqft
2018-12-01 109 days 1,542 sqft
2019-01-01 107 days 1,542 sqft
2019-02-01 83 days 1,521 sqft
2019-03-01 74 days 1,512 sqft
2019-04-01 76 days 1,506 sqft
2019-05-01 69 days 1,517 sqft
2019-06-01 66 days 1,542 sqft
2019-07-01 68 days 1,562 sqft
2019-08-01 77 days 1,565 sqft
2019-09-01 80 days 1,535 sqft
2019-10-01 70 days 1,522 sqft
2019-11-01 75 days 1,539 sqft
2019-12-01 86 days 1,541 sqft
2020-01-01 89 days 1,542 sqft
2020-02-01 84 days 1,535 sqft
2020-03-01 73 days 1,542 sqft
2020-04-01 75 days 1,542 sqft
2020-05-01 85 days 1,532 sqft
2020-06-01 97 days 1,542 sqft
2020-07-01 94 days 1,561 sqft
2020-08-01 78 days 1,560 sqft
2020-09-01 75 days 1,542 sqft
2020-10-01 67 days 1,560 sqft
2020-11-01 56 days 1,600 sqft
2020-12-01 55 days 1,626 sqft
2021-01-01 63 days 1,600 sqft
2021-02-01 64 days 1,573 sqft
2021-03-01 46 days 1,608 sqft
2021-04-01 43 days 1,640 sqft
2021-05-01 29 days 1,672 sqft
2021-06-01 31 days 1,588 sqft
2021-07-01 29 days 1,539 sqft
2021-08-01 34 days 1,530 sqft
2021-09-01 42 days 1,553 sqft
2021-10-01 53 days 1,593 sqft
2021-11-01 51 days 1,638 sqft
2021-12-01 52 days 1,648 sqft
2022-01-01 54 days 1,701 sqft
2022-02-01 33 days 1,692 sqft
2022-03-01 32 days 1,693 sqft
2022-04-01 32 days 1,594 sqft
2022-05-01 37 days 1,571 sqft
2022-06-01 42 days 1,573 sqft
2022-07-01 45 days 1,558 sqft
2022-08-01 55 days 1,556 sqft
2022-09-01 62 days 1,562 sqft
2022-10-01 65 days 1,560 sqft
2022-11-01 74 days 1,565 sqft
2022-12-01 82 days 1,566 sqft
2023-01-01 88 days 1,587 sqft
2023-02-01 85 days 1,550 sqft
2023-03-01 70 days 1,530 sqft
2023-04-01 64 days 1,477 sqft
Panama City's median listing age (time on market) for 2023-04-01 was 64 days. This is 100% longer than the same period one year ago.

Panama City's median square footage for active listings during the 2023-04-01 period was 1,477 sqft. One year prior, the average listing was 1,594 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.