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 116 lenders originated 1,000 VA
loans during 2023. The total origination value was $343,150,000, with an average VA loan value of
$343,150.
Panama City VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Panama City
averaged
6.34%
for the week of 2024-10-25, compared to the national average (all VA variants) of
6.14% for the same period.
Panama City's average VA mortgage closing costs are $7,277.
The average rate for the prior week (2024-10-18) was
6.05% and
one month ago for the week of 2024-09-20, the
average rate was 5.35%.
The average rate one year ago was 7.47%.
For refis of the same type during the week of 2024-10-25, the average rate
was 6.89%.
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 |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
DHI MORTGAGE COMPANY, LTD.
|
232
|
5.49%
|
$8,839
|
Mortgage Research Center, LLC
|
88
|
6.53%
|
$9,520
|
UNITED WHOLESALE MORTGAGE, LLC
|
71
|
6.34%
|
$9,607
|
NAVY FEDERAL CREDIT UNION
|
51
|
5.81%
|
$8,885
|
QUICKEN LOANS, LLC
|
43
|
6.06%
|
$13,523
|
Wells Fargo Bank
|
31
|
5.44%
|
$12,234
|
Trustmark National Bank
|
25
|
6.28%
|
$8,251
|
CARDINAL FINANCIAL
|
25
|
6.45%
|
$12,360
|
USAA Federal Savings Bank
|
24
|
6.03%
|
$12,789
|
CROSSCOUNTRY MORTGAGE, LLC
|
23
|
6.38%
|
$9,558
|
BROKER SOLUTIONS, INC.
|
23
|
6.20%
|
$9,411
|
Centennial Bank
|
20
|
6.41%
|
$8,912
|
LOANDEPOT.COM, LLC
|
14
|
6.06%
|
$13,242
|
FREEDOM MORTGAGE CORPORATION
|
13
|
6.62%
|
$15,919
|
NEW DAY FINANCIAL, LLC
|
13
|
7.24%
|
$15,163
|
MOVEMENT MORTGAGE, LLC
|
13
|
6.13%
|
$15,001
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
12
|
6.30%
|
$11,353
|
Tyndall Federal Credit Union
|
11
|
6.61%
|
$7,246
|
FBC MORTGAGE, LLC
|
10
|
5.71%
|
$12,059
|
GUARANTEED RATE, INC.
|
10
|
6.11%
|
$8,409
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
8
|
6.34%
|
$10,474
|
PENNYMAC LOAN SERVICES, LLC
|
7
|
5.91%
|
$10,880
|
CMG MORTGAGE, INC.
|
6
|
6.27%
|
$8,889
|
NBKC BANK
|
6
|
5.92%
|
$11,263
|
OPEN MORTGAGE, LLC
|
6
|
6.13%
|
$6,991
|
SWBC MORTGAGE CORPORATION
|
6
|
6.00%
|
$17,063
|
LAND HOME FINANCIAL SERVICES, INC.
|
5
|
6.73%
|
$7,628
|
NEWREZ LLC
|
5
|
6.13%
|
$15,239
|
Bank of England
|
5
|
6.68%
|
$12,132
|
Truist
|
4
|
5.85%
|
$5,041
|
Equity Prime Mortgage LLC
|
4
|
6.56%
|
$8,195
|
First Federal Bank
|
4
|
6.41%
|
$8,162
|
GENEVA FINANCIAL, LLC
|
4
|
6.88%
|
$14,816
|
INSPIRE HOME LOANS INC.
|
4
|
5.63%
|
$7,821
|
Paramount Residential Mortgage Group, Inc.
|
4
|
5.84%
|
$12,588
|
PENTAGON FEDERAL CREDIT UNION
|
4
|
5.59%
|
$5,907
|
SUCCESS MORTGAGE PARTNERS, INC.
|
4
|
7.34%
|
$12,407
|
United Community Bank
|
4
|
6.16%
|
$10,629
|
United Fidelity Funding Corp.
|
4
|
6.25%
|
$9,234
|
Northpointe Bank
|
3
|
5.33%
|
$12,888
|
PLANET HOME LENDING, LLC
|
3
|
6.33%
|
$12,171
|
PLAZA HOME MORTGAGE, INC.
|
3
|
7.08%
|
$9,679
|
Mr. Cooper ( Nationstar Mortgage )
|
3
|
5.75%
|
$16,575
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
3
|
7.25%
|
$8,141
|
Barrington Bank & Trust Company, N.A.
|
3
|
6.38%
|
$10,815
|
MORTGAGE INVESTORS GROUP, INC.
|
3
|
6.75%
|
$11,258
|
Ameris Bank
|
3
|
6.46%
|
$12,874
|
Regions Bank
|
3
|
5.71%
|
$13,172
|
VILLAGE CAPITAL MORTGAGE
|
3
|
6.75%
|
$14,023
|
1ST SIGNATURE LENDING, LLC
|
2
|
7.25%
|
$9,038
|
Capital City Home Loans, LLC
|
2
|
7.19%
|
$3,806
|
Armed Forces Bank
|
2
|
6.88%
|
$19,471
|
Plains Commerce Bank
|
2
|
5.69%
|
$9,125
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
2
|
6.19%
|
$7,536
|
Prosperity Home Mortgage, LLC
|
2
|
5.31%
|
$6,822
|
Fifth Third Bank
|
2
|
7.00%
|
$4,708
|
MICHIGAN MUTUAL, INC.
|
2
|
5.19%
|
$8,699
|
Flagstar Bank, FSB
|
2
|
7.19%
|
$10,624
|
VANDERBILT MORTGAGE AND FINANCE, INC.
|
2
|
6.38%
|
$8,096
|
CONTOUR MORTGAGE CORPORATION
|
2
|
6.44%
|
$11,382
|
LOANPAL, LLC
|
2
|
6.38%
|
$16,984
|
SmartBank
|
2
|
5.56%
|
$8,851
|
Lakeview Community Capital, LLC
|
2
|
7.38%
|
$14,448
|
GUARANTEED RATE AFFINITY, LLC
|
2
|
6.00%
|
$12,400
|
AMERISAVE MORTGAGE CORPORATION
|
2
|
5.44%
|
$19,143
|
THE MORTGAGE FIRM, INC.
|
2
|
6.75%
|
$6,394
|
TOWNE MORTGAGE COMPANY
|
2
|
6.88%
|
$7,270
|
Renasant Bank
|
1
|
5.63%
|
$4,154
|
RESIDENTIAL BANCORP
|
1
|
6.13%
|
$4,897
|
Residential Mortgage Solutions, Inc.
|
1
|
7.63%
|
$15,453
|
RUOFF MORTGAGE COMPANY, INC.
|
1
|
7.25%
|
$10,033
|
ServisFirst Bank
|
1
|
6.13%
|
$3,305
|
SOUTHPOINT FINANCIAL SERVICES, INC.
|
1
|
6.75%
|
$1,210
|
Waterstone Mortgage Corporation
|
1
|
7.25%
|
$14,775
|
SUN WEST MORTGAGE COMPANY, INC.
|
1
|
6.88%
|
$7,917
|
The Federal Savings Bank
|
1
|
5.63%
|
$15,771
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
1
|
6.13%
|
$15,208
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
1
|
6.88%
|
$12,565
|
Union Savings Bank
|
1
|
5.75%
|
$0
|
WATSON MORTGAGE CORP.
|
1
|
6.75%
|
$10,054
|
ALLIED MORTGAGE GROUP, INC.
|
1
|
6.38%
|
$11,573
|
AMERICAN FINANCING CORPORATION
|
1
|
5.99%
|
$23,676
|
EVERETT FINANCIAL, INC.
|
1
|
7.75%
|
$10,281
|
Evolve Bank & Trust
|
1
|
6.00%
|
$8,643
|
ENVOY MORTGAGE, LTD
|
1
|
6.25%
|
$7,899
|
DIRECT MORTGAGE LOANS, LLC
|
1
|
7.63%
|
$13,131
|
University Bank
|
1
|
6.88%
|
$11,140
|
FIRST HOME MORTGAGE CORPORATION
|
1
|
6.63%
|
$12,099
|
First United Bank and Trust Company
|
1
|
6.13%
|
$7,329
|
Credence Funding Corporation
|
1
|
5.25%
|
$9,955
|
AMERICAN FINANCIAL NETWORK, INC.
|
1
|
5.63%
|
$4,070
|
Goldwater Bank, N.A.
|
1
|
6.75%
|
$12,383
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
1
|
5.63%
|
$13,679
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
1
|
6.13%
|
$22,551
|
HomePromise Corporation
|
1
|
8.13%
|
$1,487
|
J. VIRGIL, INC.
|
1
|
5.75%
|
$18,505
|
LAKEVIEW LOAN SERVICING, LLC
|
1
|
6.25%
|
$22,001
|
Citizens Bank
|
1
|
6.75%
|
$4,937
|
CHURCHILL MORTGAGE CORPORATION
|
1
|
6.75%
|
$17,196
|
Magnolia Bank
|
1
|
6.25%
|
$14,893
|
Meridian Bank Corporation
|
1
|
5.49%
|
$12,994
|
Mid-Continent Funding, Inc.
|
1
|
5.99%
|
$9,618
|
MILEND, INC.
|
1
|
5.63%
|
$13,337
|
MORTGAGEONE, INC.
|
1
|
7.63%
|
$7,546
|
MORTGAGE ONE OF THE SOUTH, INC.
|
1
|
5.75%
|
$23,010
|
Century Mortgage Company DBA Century Lending Company
|
1
|
6.38%
|
$9,820
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
1
|
6.49%
|
$10,752
|
Nations Lending Corporation
|
1
|
5.63%
|
$36,548
|
NATIONWIDE MORTGAGE BANKERS, INC.
|
1
|
6.13%
|
$5,963
|
BNC National Bank
|
1
|
5.63%
|
$2,717
|
BAY EQUITY LLC
|
1
|
5.25%
|
$13,048
|
BankPlus
|
1
|
6.50%
|
$14,482
|
NexBank
|
1
|
5.63%
|
$8,461
|
Bank of Colorado
|
1
|
5.50%
|
$12,228
|
VERITAS FUNDING, LLC
|
1
|
7.00%
|
$22,414
|
PREMIER MORTGAGE RESOURCES, L.L.C.
|
1
|
5.63%
|
$11,203
|
The top Panama City VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
232 VA loans originated. Their average total fees are
$8,839, which is $681
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 ($7,246), Trustmark National Bank ($8,251), GUARANTEED RATE, INC. ($8,409), DHI MORTGAGE COMPANY, LTD. ($8,839) and NAVY FEDERAL CREDIT UNION ($8,885).
The lowest rate Panama City VA lenders (with over 10 loans originated) are
Wells Fargo Bank (5.44%), DHI MORTGAGE COMPANY, LTD. (5.49%), FBC MORTGAGE, LLC (5.71%), NAVY FEDERAL CREDIT UNION (5.81%) and USAA Federal Savings Bank (6.03%).
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.