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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.