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 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.