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 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 6.73% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Panama City's average VA mortgage closing costs are $7,277.

    The average rate for the prior week (2025-02-07) was 6.36% and one month ago for the week of 2025-01-10, the average rate was 6.7%.

    The average rate one year ago was 6.52%.

    For refis of the same type during the week of 2025-02-14, the average rate was 7.17%.

    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%).

    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%) 1.00 1,728
    2018-02-01 $265,000 (6.0%) $339,305 (6.0%) 0.98 1,747
    2018-03-01 $269,900 (6.6%) $343,946 (5.2%) 0.96 1,778
    2018-04-01 $279,250 (7.5%) $347,424 (3.7%) 0.97 1,836
    2018-05-01 $278,475 (4.4%) $351,028 (3.0%) 0.94 1,865
    2018-06-01 $280,990 (4.5%) $360,683 (5.0%) 0.97 1,760
    2018-07-01 $279,948 (4.1%) $365,271 (5.5%) 0.97 1,766
    2018-08-01 $279,950 (5.1%) $365,400 (3.9%) 0.96 1,806
    2018-09-01 $279,900 (4.4%) $359,362 (3.2%) 0.96 1,863
    2018-10-01 $279,900 (5.7%) $363,153 (5.3%) 0.97 1,768
    2018-11-01 $289,675 (7.9%) $376,101 (9.7%) 1.00 1,525
    2018-12-01 $301,995 (14.0%) $383,786 (9.6%) 1.06 1,556
    2019-01-01 $305,250 (16.3%) $384,454 (13.4%) 1.07 1,504
    2019-02-01 $307,875 (16.2%) $391,196 (15.3%) 1.06 1,583
    2019-03-01 $316,371 (17.2%) $397,973 (15.7%) 1.05 1,576
    2019-04-01 $323,921 (16.0%) $405,461 (16.7%) 1.04 1,559
    2019-05-01 $315,000 (13.1%) $407,247 (16.0%) 1.00 1,637
    2019-06-01 $315,495 (12.3%) $398,606 (10.5%) 1.00 1,622
    2019-07-01 $317,123 (13.3%) $400,800 (9.7%) 1.01 1,650
    2019-08-01 $313,545 (12.0%) $393,725 (7.8%) 1.01 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%) 0.97 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%) 0.98 1,928
    2020-02-01 $287,700 (-6.6%) $367,594 (-6.0%) 0.95 1,948
    2020-03-01 $292,450 (-7.6%) $374,019 (-6.0%) 0.93 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%) 0.91 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%) 0.89 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%) 0.91 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%) 0.87 1,446
    2021-02-01 $289,328 (0.6%) $409,098 (11.3%) 0.85 1,028
    2021-03-01 $296,450 (1.4%) $435,462 (16.4%) 0.85 833
    2021-04-01 $315,645 (7.4%) $482,078 (29.0%) 0.86 695
    2021-05-01 $335,016 (13.2%) $508,712 (35.2%) 0.90 657
    2021-06-01 $356,975 (15.3%) $531,743 (39.0%) 0.95 670
    2021-07-01 $378,999 (22.6%) $528,472 (37.6%) 1.01 857
    2021-08-01 $399,000 (28.8%) $545,289 (40.9%) 1.07 1,024
    2021-09-01 $399,700 (32.7%) $548,746 (39.7%) 1.08 1,068
    2021-10-01 $399,500 (29.1%) $548,899 (37.5%) 1.08 1,052
    2021-11-01 $385,750 (26.5%) $550,284 (33.4%) 1.04 944
    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%) 1.02 728
    2022-02-01 $401,000 (38.6%) $606,905 (48.4%) 1.09 605
    2022-03-01 $427,000 (44.0%) $666,379 (53.0%) 1.09 638
    2022-04-01 $463,500 (46.8%) $696,818 (44.5%) 1.13 799
    2022-05-01 $484,500 (44.6%) $732,645 (44.0%) 1.12 992
    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%) 1.12 1,526
    2022-08-01 $478,000 (19.8%) $651,564 (19.5%) 1.12 1,678
    2022-09-01 $452,500 (13.2%) $621,357 (13.2%) 1.07 1,733
    2022-10-01 $441,700 (10.6%) $602,758 (9.8%) 1.06 1,805
    2022-11-01 $435,000 (12.8%) $583,175 (6.0%) 1.06 1,849
    2022-12-01 $430,000 (17.1%) $585,365 (7.1%) 1.09 1,753
    2023-01-01 $434,450 (17.7%) $588,973 (2.6%) 1.10 1,621
    2023-02-01 $432,300 (7.8%) $584,591 (-3.7%) 1.06 1,540
    2023-03-01 $433,650 (1.6%) $595,270 (-10.7%) 1.04 1,530
    2023-04-01 $450,000 (-2.9%) $625,997 (-10.2%) 1.07 1,538
    2023-05-01 $449,250 (-7.3%) $623,683 (-14.9%) 1.03 1,687
    2023-06-01 $454,450 (-8.7%) $636,167 (-11.3%) 1.03 1,724
    2023-07-01 $457,500 (-6.4%) $643,468 (-4.5%) 1.06 1,750
    2023-08-01 $449,900 (-5.9%) $632,536 (-2.9%) 1.04 1,872
    2023-09-01 $450,000 (-0.6%) $630,035 (1.4%) 1.07 1,934
    2023-10-01 $450,000 (1.9%) $631,214 (4.7%) 1.08 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%) 1.10 2,209
    2024-01-01 $440,000 (1.3%) $602,304 (2.3%) 1.09 2,184
    2024-02-01 $437,575 (1.2%) $602,648 (3.1%) 1.06 2,274
    2024-03-01 $440,000 (1.5%) $601,539 (1.1%) 1.06 2,438
    2024-04-01 $447,000 (-0.7%) $607,490 (-3.0%) 1.05 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%) 1.03 2,739
    2024-08-01 $439,000 (-2.4%) $608,479 (-3.8%) 1.04 2,786
    2024-09-01 $429,725 (-4.5%) $595,914 (-5.4%) 1.03 2,782
    2024-10-01 $429,975 (-4.5%) $593,982 (-5.9%) 1.03 2,760
    2024-11-01 $425,000 (-5.3%) $583,584 (-5.2%) 1.03 2,680
    2024-12-01 $419,500 (-6.2%) $578,615 (-5.1%) 1.06 2,639
    2025-01-01 $414,950 (-5.7%) $564,084 (-6.4%) 0.00 2,553
    Panama City's median listing price for 2025-01-01 was $414,950, a difference of $-25,050 (-5.7%) versus the prior year and $-4,550 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 2025-01-01 was $564,084, a difference of $-38,220 (-6.4%) versus the prior year and $-14,531 versus the prior month.

    For the 2025-01-01 period, Panama City had 2,553 MLS listings, a difference of -86 listings (-3%) versus the prior month and 369 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 91 days 1,618 sqft
    2018-02-01 77 days 1,622 sqft
    2018-03-01 59 days 1,637 sqft
    2018-04-01 59 days 1,647 sqft
    2018-05-01 58 days 1,645 sqft
    2018-06-01 70 days 1,665 sqft
    2018-07-01 71 days 1,680 sqft
    2018-08-01 71 days 1,654 sqft
    2018-09-01 71 days 1,636 sqft
    2018-10-01 85 days 1,632 sqft
    2018-11-01 100 days 1,610 sqft
    2018-12-01 101 days 1,542 sqft
    2019-01-01 89 days 1,542 sqft
    2019-02-01 75 days 1,527 sqft
    2019-03-01 74 days 1,524 sqft
    2019-04-01 66 days 1,512 sqft
    2019-05-01 59 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 70 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 85 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 47 days 1,602 sqft
    2020-12-01 51 days 1,627 sqft
    2021-01-01 60 days 1,604 sqft
    2021-02-01 61 days 1,591 sqft
    2021-03-01 43 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 53 days 1,688 sqft
    2022-02-01 32 days 1,668 sqft
    2022-03-01 31 days 1,679 sqft
    2022-04-01 32 days 1,592 sqft
    2022-05-01 37 days 1,578 sqft
    2022-06-01 41 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 83 days 1,559 sqft
    2023-03-01 68 days 1,544 sqft
    2023-04-01 61 days 1,490 sqft
    2023-05-01 57 days 1,499 sqft
    2023-06-01 60 days 1,501 sqft
    2023-07-01 66 days 1,483 sqft
    2023-08-01 68 days 1,461 sqft
    2023-09-01 65 days 1,470 sqft
    2023-10-01 67 days 1,462 sqft
    2023-11-01 71 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 75 days 1,418 sqft
    2024-04-01 74 days 1,404 sqft
    2024-05-01 73 days 1,423 sqft
    2024-06-01 82 days 1,427 sqft
    2024-07-01 87 days 1,446 sqft
    2024-08-01 92 days 1,446 sqft
    2024-09-01 94 days 1,445 sqft
    2024-10-01 96 days 1,436 sqft
    2024-11-01 99 days 1,420 sqft
    2024-12-01 104 days 1,416 sqft
    2025-01-01 0 days 1,420 sqft
    Panama City's median listing age (time on market) for 2025-01-01 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 2025-01-01 period was 1,420 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.