Panama City VA Loan Rates, Closing Costs & Stats

PANAMA CITY, FL

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    • 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 115 lenders originated 1,145 VA loans during 2024. The total origination value was $399,735,000, with an average VA loan value of $349,114.

    Panama City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Panama City averaged 0.27% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Panama City's average VA mortgage closing costs are $7,492.

    The average rate for the prior week (2025-06-13) was 6.62% and one month ago for the week of 2025-05-16, the average rate was 6.58%.

    The average rate one year ago was 6.78%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.3%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 263 5.09% $8,664
    UNITED WHOLESALE MORTGAGE, LLC 125 5.96% $8,078
    Mortgage Research Center, LLC 109 6.34% $7,220
    QUICKEN LOANS, LLC 59 5.97% $11,029
    NAVY FEDERAL CREDIT UNION 39 5.84% $6,014
    FREEDOM MORTGAGE CORPORATION 32 6.28% $10,832
    FBC MORTGAGE, LLC 24 5.74% $8,061
    USAA Federal Savings Bank 22 6.03% $10,933
    CROSSCOUNTRY MORTGAGE, LLC 20 6.10% $8,666
    Centennial Bank 18 6.22% $10,314
    Trustmark National Bank 17 6.46% $8,482
    Tyndall Federal Credit Union 16 6.14% $8,688
    Wells Fargo Bank 15 6.03% $10,722
    CARDINAL FINANCIAL 15 6.47% $12,783
    BROKER SOLUTIONS, INC. 14 6.41% $10,548
    NEWREZ LLC 14 6.19% $9,290
    American Mortgage Bank, LLC 14 5.88% $10,785
    PENNYMAC LOAN SERVICES, LLC 13 5.56% $9,529
    VILLAGE CAPITAL MORTGAGE 13 5.84% $6,547
    LOANDEPOT.COM, LLC 11 5.70% $9,157
    CMG MORTGAGE, INC. 11 6.22% $9,685
    Equity Prime Mortgage LLC 10 6.45% $8,409
    First Federal Bank 7 6.16% $8,419
    GUARANTEED RATE AFFINITY, LLC 7 6.40% $10,986
    Northpointe Bank 7 6.11% $9,537
    ENVOY MORTGAGE, LTD 6 6.33% $10,627
    GUARANTEED RATE, INC. 6 6.06% $7,385
    LAKEVIEW LOAN SERVICING, LLC 6 5.92% $8,642
    NBKC BANK 6 6.04% $5,316
    NEW DAY FINANCIAL, LLC 6 7.18% $11,734
    Magnolia Bank 5 6.15% $18,117
    MOVEMENT MORTGAGE, LLC 5 6.45% $12,333
    Mr. Cooper ( Nationstar Mortgage ) 5 6.58% $9,561
    Flagstar Bank, FSB 5 6.50% $11,418
    T2 FINANCIAL LLC 5 6.48% $12,234
    VICTORY MORTGAGE, L.L.C. 5 5.75% $19,625
    Prosperity Home Mortgage, LLC 4 6.28% $9,583
    Ameris Bank 4 6.13% $8,444
    SWBC MORTGAGE CORPORATION 4 5.84% $12,754
    GUILD MORTGAGE COMPANY 4 6.28% $9,004
    The Federal Savings Bank 4 6.41% $15,812
    NFM, INC. 4 6.81% $14,820
    THE MORTGAGE FIRM, INC. 4 7.00% $6,751
    PLANET HOME LENDING, LLC 4 6.19% $7,904
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.47% $10,978
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.17% $4,011
    PENTAGON FEDERAL CREDIT UNION 3 6.21% $10,020
    PLAZA HOME MORTGAGE, INC. 3 5.83% $17,715
    Lakeview Community Capital, LLC 3 5.75% $8,376
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.25% $8,153
    SeaTrust Mortgage Company 3 5.88% $13,681
    Paramount Residential Mortgage Group, Inc. 3 6.04% $11,068
    MORTGAGE INVESTORS GROUP, INC. 3 6.42% $8,534
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.33% $15,645
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.75% $4,588
    Bank of England 2 6.00% $17,513
    Armed Forces Bank 2 6.00% $6,878
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.38% $7,787
    University Bank 2 5.38% $11,584
    CANOPY MORTGAGE, LLC 2 6.31% $8,543
    Mid-Continent Funding, Inc. 2 6.25% $5,457
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 5.94% $5,277
    AMERICAN FINANCIAL NETWORK, INC. 2 6.44% $16,795
    SmartBank 1 6.25% $14,264
    South State Bank 1 6.25% $4,690
    STOCKTON MORTGAGE CORPORATION 1 7.00% $4,655
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $19,487
    Sunflower Bank 1 5.63% $24,149
    Texana Bank 1 6.75% $11,241
    The Central Trust Bank 1 6.63% $6,029
    The Huntington National Bank 1 6.50% $1,487
    The Loan Store, Inc. 1 6.63% $8,549
    Truist 1 6.10% $2,307
    Arvest Bank 1 6.75% $2,688
    UNION HOME MORTGAGE CORP. 1 6.25% $7,769
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 5.88% $19,028
    AmRes Corporation 1 5.75% $15,606
    U.S. Bank 1 5.50% $2,185
    VERITAS FUNDING, LLC 1 7.13% $38,509
    DELMAR FINANCIAL COMPANY 1 7.13% $8,836
    EMM LOANS LLC 1 6.75% $9,494
    EVERETT FINANCIAL, INC. 1 3.13% $3,068
    DAS Acquisition Company, LLC 1 6.75% $13,844
    Credence Funding Corporation 1 5.75% $6,074
    Fifth Third Bank 1 6.00% $2,646
    Community Bank of Mississippi 1 6.75% $5,460
    CLEARPATH LENDING 1 6.63% $12,331
    GARDNER FINANCIAL SERVICES, LTD. 1 7.25% $10,376
    GMFS LLC 1 6.13% $11,935
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $16,750
    Goldwater Bank, N.A. 1 7.88% $3,342
    GoPrime Mortgage, Inc. 1 5.75% $3,193
    Century Mortgage Company DBA Century Lending Company 1 6.75% $7,590
    HOMESIDE FINANCIAL, LLC 1 6.99% $25,176
    INB 1 6.75% $4,198
    Ixonia Bank 1 5.75% $7,188
    MORIA DEVELOPMENT, INC. 1 5.88% $9,873
    MORTGAGEONE, INC. 1 6.50% $24,953
    MORTGAGE ONE OF THE SOUTH, INC. 1 5.88% $3,636
    BETTER MORTGAGE CORPORATION 1 6.38% $21,443
    Nations Lending Corporation 1 6.25% $11,402
    NATIONS RELIABLE LENDING, LLC 1 5.63% $9,770
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $21,081
    Barrington Bank & Trust Company, N.A. 1 6.75% $1,648
    Waterstone Mortgage Corporation 1 6.63% $11,264
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.50% $6,647
    BankPlus 1 6.25% $8,685
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 5.99% $32,403
    Old National Bank 1 6.00% $10,844
    Atlantic Coast Mortgage, LLC 1 6.75% $11,219
    PHH Mortgage Corporation 1 5.49% $4,114
    Plains Commerce Bank 1 6.75% $7,583
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $5,032
    Regions Bank 1 6.00% $18,197
    Residential Mortgage Solutions, Inc. 1 6.25% $5,971

    The top Panama City VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 263 VA loans originated. Their average total fees are $8,664, which is $586 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Panama City VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,014), VILLAGE CAPITAL MORTGAGE ($6,547), Mortgage Research Center, LLC ($7,220), FBC MORTGAGE, LLC ($8,061) and UNITED WHOLESALE MORTGAGE, LLC ($8,078).

    The lowest rate Panama City VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.09%), PENNYMAC LOAN SERVICES, LLC (5.56%), LOANDEPOT.COM, LLC (5.70%), FBC MORTGAGE, LLC (5.74%) and VILLAGE CAPITAL MORTGAGE (5.84%).

    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.