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 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 6.13% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

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

The average rate for the prior week (2025-03-28) was 6.35% and one month ago for the week of 2025-02-28, the average rate was 6.43%.

The average rate one year ago was 6.74%.

For refis of the same type during the week of 2025-04-04, the average rate was 6.16%.

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%).


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 $262,450 (5.0%) $338,950 (6.2%) 0.97 1,728
2018-02-01 $265,000 (6.0%) $339,305 (6.0%) 0.96 1,747
2018-03-01 $269,900 (6.6%) $343,946 (5.2%) 0.95 1,778
2018-04-01 $279,250 (7.5%) $347,424 (3.7%) 0.95 1,836
2018-05-01 $278,475 (4.4%) $351,028 (3.0%) 0.93 1,865
2018-06-01 $280,990 (4.5%) $360,683 (5.0%) 0.94 1,760
2018-07-01 $279,948 (4.1%) $365,271 (5.5%) 0.93 1,766
2018-08-01 $279,950 (5.1%) $365,400 (3.9%) 0.94 1,806
2018-09-01 $279,900 (4.4%) $359,362 (3.2%) 0.94 1,863
2018-10-01 $279,900 (5.7%) $363,153 (5.3%) 0.95 1,768
2018-11-01 $289,675 (7.9%) $376,101 (9.7%) 0.98 1,525
2018-12-01 $301,995 (14.0%) $383,786 (9.6%) 1.04 1,556
2019-01-01 $305,250 (16.3%) $384,454 (13.4%) 1.05 1,504
2019-02-01 $307,875 (16.2%) $391,196 (15.3%) 1.04 1,583
2019-03-01 $316,371 (17.2%) $397,973 (15.7%) 1.03 1,576
2019-04-01 $323,921 (16.0%) $405,461 (16.7%) 1.03 1,559
2019-05-01 $315,000 (13.1%) $407,247 (16.0%) 0.98 1,637
2019-06-01 $315,495 (12.3%) $398,606 (10.5%) 0.99 1,622
2019-07-01 $317,123 (13.3%) $400,800 (9.7%) 0.99 1,650
2019-08-01 $313,545 (12.0%) $393,725 (7.8%) 0.99 1,738
2019-09-01 $305,364 (9.1%) $383,548 (6.7%) 0.98 1,839
2019-10-01 $299,000 (6.8%) $376,365 (3.6%) 0.96 1,907
2019-11-01 $299,000 (3.2%) $373,228 (-0.8%) 0.98 1,923
2019-12-01 $293,500 (-2.8%) $365,098 (-4.9%) 0.98 1,988
2020-01-01 $289,900 (-5.0%) $369,774 (-3.8%) 0.97 1,928
2020-02-01 $287,700 (-6.6%) $367,594 (-6.0%) 0.94 1,948
2020-03-01 $292,450 (-7.6%) $374,019 (-6.0%) 0.92 2,051
2020-04-01 $294,000 (-9.2%) $373,577 (-7.9%) 0.92 2,249
2020-05-01 $296,000 (-6.0%) $376,349 (-7.6%) 0.90 2,176
2020-06-01 $309,700 (-1.8%) $382,480 (-4.1%) 0.91 1,922
2020-07-01 $309,189 (-2.5%) $383,996 (-4.2%) 0.90 1,748
2020-08-01 $309,750 (-1.2%) $386,978 (-1.7%) 0.89 1,631
2020-09-01 $301,200 (-1.4%) $392,788 (2.4%) 0.86 1,455
2020-10-01 $309,500 (3.5%) $399,352 (6.1%) 0.89 1,373
2020-11-01 $305,000 (2.0%) $412,430 (10.5%) 0.89 1,353
2020-12-01 $294,894 (0.5%) $407,295 (11.6%) 0.88 1,442
2021-01-01 $289,290 (-0.2%) $394,149 (6.6%) 0.86 1,446
2021-02-01 $289,328 (0.6%) $409,098 (11.3%) 0.84 1,028
2021-03-01 $296,450 (1.4%) $435,462 (16.4%) 0.84 833
2021-04-01 $315,645 (7.4%) $482,078 (29.0%) 0.85 695
2021-05-01 $335,016 (13.2%) $508,712 (35.2%) 0.89 657
2021-06-01 $356,975 (15.3%) $531,743 (39.0%) 0.94 670
2021-07-01 $378,999 (22.6%) $528,472 (37.6%) 1.00 857
2021-08-01 $399,000 (28.8%) $545,289 (40.9%) 1.06 1,024
2021-09-01 $399,700 (32.7%) $548,746 (39.7%) 1.07 1,068
2021-10-01 $399,500 (29.1%) $548,899 (37.5%) 1.07 1,052
2021-11-01 $385,750 (26.5%) $550,284 (33.4%) 1.03 944
2021-12-01 $367,318 (24.6%) $546,736 (34.2%) 1.00 865
2022-01-01 $369,000 (27.6%) $573,893 (45.6%) 1.00 728
2022-02-01 $401,000 (38.6%) $606,905 (48.4%) 1.04 605
2022-03-01 $427,000 (44.0%) $666,379 (53.0%) 1.07 638
2022-04-01 $463,500 (46.8%) $696,818 (44.5%) 1.10 799
2022-05-01 $484,500 (44.6%) $732,645 (44.0%) 1.11 992
2022-06-01 $497,750 (39.4%) $717,057 (34.9%) 1.11 1,227
2022-07-01 $489,000 (29.0%) $673,846 (27.5%) 1.10 1,526
2022-08-01 $478,000 (19.8%) $651,564 (19.5%) 1.11 1,678
2022-09-01 $452,500 (13.2%) $621,357 (13.2%) 1.06 1,733
2022-10-01 $441,700 (10.6%) $602,758 (9.8%) 1.04 1,805
2022-11-01 $435,000 (12.8%) $583,175 (6.0%) 1.05 1,849
2022-12-01 $430,000 (17.1%) $585,365 (7.1%) 1.06 1,753
2023-01-01 $434,450 (17.7%) $588,973 (2.6%) 1.08 1,621
2023-02-01 $432,300 (7.8%) $584,591 (-3.7%) 1.04 1,540
2023-03-01 $433,650 (1.6%) $595,270 (-10.7%) 1.02 1,530
2023-04-01 $450,000 (-2.9%) $625,997 (-10.2%) 1.05 1,538
2023-05-01 $449,250 (-7.3%) $623,683 (-14.9%) 1.02 1,687
2023-06-01 $454,450 (-8.7%) $636,167 (-11.3%) 1.02 1,724
2023-07-01 $457,500 (-6.4%) $643,468 (-4.5%) 1.04 1,750
2023-08-01 $449,900 (-5.9%) $632,536 (-2.9%) 1.03 1,872
2023-09-01 $450,000 (-0.6%) $630,035 (1.4%) 1.05 1,934
2023-10-01 $450,000 (1.9%) $631,214 (4.7%) 1.06 2,037
2023-11-01 $448,625 (3.1%) $615,544 (5.6%) 1.07 2,188
2023-12-01 $447,000 (4.0%) $609,873 (4.2%) 1.09 2,209
2024-01-01 $440,000 (1.3%) $602,304 (2.3%) 1.07 2,184
2024-02-01 $437,575 (1.2%) $602,648 (3.1%) 1.05 2,274
2024-03-01 $440,000 (1.5%) $601,539 (1.1%) 1.04 2,438
2024-04-01 $447,000 (-0.7%) $607,490 (-3.0%) 1.04 2,566
2024-05-01 $449,000 (-0.1%) $608,911 (-2.4%) 1.02 2,678
2024-06-01 $443,500 (-2.4%) $606,350 (-4.7%) 1.01 2,728
2024-07-01 $444,500 (-2.8%) $614,391 (-4.5%) 1.02 2,739
2024-08-01 $439,000 (-2.4%) $608,479 (-3.8%) 1.02 2,786
2024-09-01 $429,725 (-4.5%) $595,914 (-5.4%) 1.01 2,782
2024-10-01 $429,975 (-4.5%) $593,982 (-5.9%) 1.01 2,760
2024-11-01 $425,000 (-5.3%) $583,584 (-5.2%) 1.02 2,680
2024-12-01 $419,500 (-6.2%) $578,615 (-5.1%) 1.04 2,639
2025-01-01 $414,950 (-5.7%) $564,084 (-6.4%) 1.04 2,553
2025-02-01 $415,000 (-5.2%) $563,265 (-6.5%) 1.01 2,707
2025-03-01 $425,000 (-3.4%) $578,677 (-3.8%) 0.00 2,851
Panama City's median listing price for 2025-03-01 was $425,000, a difference of $-15,000 (-3.4%) versus the prior year and $10,000 versus the prior month.

Panama City's median listing price comes in at 0% of the national average.

Panama City's average listing price for 2025-03-01 was $578,677, a difference of $-22,862 (-3.8%) versus the prior year and $15,412 versus the prior month.

For the 2025-03-01 period, Panama City had 2,851 MLS listings, a difference of 144 listings (5%) versus the prior month and 413 listings (17%) 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 89 days 1,618 sqft
2018-02-01 78 days 1,622 sqft
2018-03-01 60 days 1,637 sqft
2018-04-01 59 days 1,647 sqft
2018-05-01 60 days 1,645 sqft
2018-06-01 71 days 1,665 sqft
2018-07-01 72 days 1,680 sqft
2018-08-01 71 days 1,654 sqft
2018-09-01 71 days 1,636 sqft
2018-10-01 86 days 1,632 sqft
2018-11-01 100 days 1,610 sqft
2018-12-01 101 days 1,542 sqft
2019-01-01 88 days 1,542 sqft
2019-02-01 75 days 1,527 sqft
2019-03-01 74 days 1,524 sqft
2019-04-01 65 days 1,512 sqft
2019-05-01 58 days 1,524 sqft
2019-06-01 57 days 1,544 sqft
2019-07-01 60 days 1,564 sqft
2019-08-01 61 days 1,554 sqft
2019-09-01 61 days 1,543 sqft
2019-10-01 63 days 1,536 sqft
2019-11-01 70 days 1,542 sqft
2019-12-01 77 days 1,542 sqft
2020-01-01 79 days 1,542 sqft
2020-02-01 71 days 1,542 sqft
2020-03-01 65 days 1,542 sqft
2020-04-01 67 days 1,542 sqft
2020-05-01 75 days 1,540 sqft
2020-06-01 86 days 1,542 sqft
2020-07-01 73 days 1,561 sqft
2020-08-01 63 days 1,562 sqft
2020-09-01 61 days 1,542 sqft
2020-10-01 56 days 1,560 sqft
2020-11-01 48 days 1,602 sqft
2020-12-01 51 days 1,627 sqft
2021-01-01 60 days 1,604 sqft
2021-02-01 59 days 1,591 sqft
2021-03-01 44 days 1,616 sqft
2021-04-01 40 days 1,648 sqft
2021-05-01 27 days 1,674 sqft
2021-06-01 31 days 1,588 sqft
2021-07-01 29 days 1,542 sqft
2021-08-01 34 days 1,539 sqft
2021-09-01 41 days 1,564 sqft
2021-10-01 52 days 1,605 sqft
2021-11-01 50 days 1,637 sqft
2021-12-01 51 days 1,656 sqft
2022-01-01 54 days 1,688 sqft
2022-02-01 34 days 1,668 sqft
2022-03-01 32 days 1,679 sqft
2022-04-01 32 days 1,592 sqft
2022-05-01 37 days 1,578 sqft
2022-06-01 42 days 1,574 sqft
2022-07-01 45 days 1,560 sqft
2022-08-01 54 days 1,561 sqft
2022-09-01 61 days 1,564 sqft
2022-10-01 64 days 1,563 sqft
2022-11-01 73 days 1,571 sqft
2022-12-01 82 days 1,579 sqft
2023-01-01 87 days 1,587 sqft
2023-02-01 84 days 1,559 sqft
2023-03-01 68 days 1,544 sqft
2023-04-01 60 days 1,490 sqft
2023-05-01 57 days 1,499 sqft
2023-06-01 61 days 1,501 sqft
2023-07-01 67 days 1,483 sqft
2023-08-01 68 days 1,461 sqft
2023-09-01 66 days 1,470 sqft
2023-10-01 67 days 1,462 sqft
2023-11-01 72 days 1,453 sqft
2023-12-01 79 days 1,432 sqft
2024-01-01 87 days 1,418 sqft
2024-02-01 89 days 1,413 sqft
2024-03-01 74 days 1,418 sqft
2024-04-01 73 days 1,404 sqft
2024-05-01 74 days 1,423 sqft
2024-06-01 82 days 1,427 sqft
2024-07-01 87 days 1,446 sqft
2024-08-01 93 days 1,446 sqft
2024-09-01 94 days 1,445 sqft
2024-10-01 95 days 1,436 sqft
2024-11-01 98 days 1,420 sqft
2024-12-01 102 days 1,416 sqft
2025-01-01 103 days 1,420 sqft
2025-02-01 93 days 1,424 sqft
2025-03-01 0 days 1,423 sqft
Panama City's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

Panama City's median square footage for active listings during the 2025-03-01 period was 1,423 sqft. One year prior, the average listing was 1,418 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.