Panama City VA Loans

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 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 171 lenders originated 2,392 VA loans during 2021. The total origination value was $676,320,000, with an average VA loan value of $282,742.

Panama City VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Panama City averaged 5.44% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.57% and one month ago for the week of 2022-04-08, the average rate was 5.29%.

The average rate one year ago was 3.01%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.35%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Panama City level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 202 2.83% $7,838
DHI MORTGAGE COMPANY, LTD. 182 2.72% $9,720
QUICKEN LOANS, LLC 155 2.51% $5,687
FREEDOM MORTGAGE CORPORATION 137 2.48% $2,933
CALIBER HOME LOANS, INC. 95 2.66% $6,665
NAVY FEDERAL CREDIT UNION 91 2.47% $6,537
Trustmark National Bank 82 2.52% $6,844
PENNYMAC LOAN SERVICES, LLC 82 2.41% $5,971
BROKER SOLUTIONS, INC. 72 2.83% $9,162
USAA Federal Savings Bank 66 2.87% $7,474
UNITED WHOLESALE MORTGAGE, LLC 66 2.58% $5,442
LOANDEPOT.COM, LLC 62 2.72% $8,318
Tyndall Federal Credit Union 59 2.54% $5,603
NEW DAY FINANCIAL, LLC 39 2.81% $7,508
Centennial Bank 35 2.60% $7,997
LAKEVIEW LOAN SERVICING, LLC 35 2.44% $2,512
Mr. Cooper ( Nationstar Mortgage ) 33 2.84% $3,081
HOME POINT FINANCIAL CORPORATION 30 2.40% $4,084
CLEARPATH LENDING 27 2.32% $4,705
Wells Fargo Bank 26 2.58% $5,149
PENTAGON FEDERAL CREDIT UNION 20 2.34% $2,512
HANCOCK MORTGAGE PARTNERS, LLC 19 3.21% $10,588
Carrington Mortgage Services, LLC 18 2.83% $5,378
VILLAGE CAPITAL & INVESTMENT LLC 16 2.40% $3,169
NEWREZ LLC 13 2.65% $4,820
First Federal Bank 13 3.90% $7,634
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 2.72% $10,183
ARK-LA-TEX FINANCIAL SERVICES, LLC. 12 2.71% $7,376
The Federal Savings Bank 12 2.85% $9,366
Bank of England 11 2.88% $11,843
CROSSCOUNTRY MORTGAGE, LLC 11 3.13% $7,168
GMFS LLC 10 2.43% $6,946
Regions Bank 10 2.76% $6,857
EVERETT FINANCIAL, INC. 10 2.94% $8,660
United Fidelity Funding Corp. 10 2.84% $15,206
Waterstone Mortgage Corporation 10 2.76% $9,923
HOMEBRIDGE FINANCIAL SERVICES, INC. 10 2.58% $7,553
InterContinental Capital Group, Inc 9 2.38% $4,196
AMERICAN FINANCIAL NETWORK, INC. 9 2.43% $9,589
SUCCESS MORTGAGE PARTNERS, INC. 9 3.30% $5,415
Renasant Bank 9 2.79% $7,943
NBKC BANK 9 2.53% $5,751
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 2.84% $5,926
Barrington Bank & Trust Company, N.A. 8 2.86% $7,833
Republic State Mortgage Co. 8 2.83% $5,991
Low VA Rates, LLC 8 2.41% $3,956
SmartBank 8 2.83% $9,345
UNIVERSITY LENDING GROUP, LLC 8 2.94% $6,208
LOANPAL, LLC 7 2.39% $8,301
First Guaranty Mortgage Corporation 7 2.54% $4,458
GUARANTEED RATE AFFINITY, LLC 7 2.43% $8,252
FBC MORTGAGE, LLC 6 3.08% $8,085
PLANET HOME LENDING, LLC 6 2.46% $3,070
Lakeview Community Capital, LLC 6 2.48% $3,155
GUARANTEED RATE, INC. 6 2.67% $9,932
Mid-Continent Funding, Inc. 6 2.56% $7,591
Equity Prime Mortgage LLC 5 3.45% $2,545
Truist Bank 5 2.68% $6,320
AMERISAVE MORTGAGE CORPORATION 5 2.83% $4,094
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 5 2.95% $11,634
CELEBRITY HOME LOANS, LLC 5 2.85% $3,127
Hancock Whitney Bank 5 2.53% $9,749
North American Savings Bank, F.S.B. 5 2.35% $1,425
HOMESTAR FINANCIAL CORPORATION 5 2.70% $2,499
INLANTA MORTGAGE, INC. 5 3.23% $6,981
MOVEMENT MORTGAGE, LLC 5 3.23% $6,371
SUN WEST MORTGAGE COMPANY, INC. 5 2.45% $2,300
NP, Inc. 4 2.47% $5,050
MUTUAL OF OMAHA MORTGAGE, INC. 4 2.63% $4,196
CBM Mortgage, Inc. 4 2.91% $8,618
U.S. Bank 4 2.66% $10,144
CMG MORTGAGE, INC. 4 2.38% $9,398
PLAZA HOME MORTGAGE, INC. 4 3.09% $5,371
CERTAINTY HOME LOANS, LLC 4 2.72% $7,236
Nations Lending Corporation 3 2.92% $8,210
BNC National Bank 3 2.63% $2,067
CityWorth Mortgage LLC 3 2.75% $4,451
Hometown Lenders, Inc. 3 2.95% $7,464
KELLER MORTGAGE, LLC 3 3.04% $4,217
SOUTHWEST STAGE FUNDING, LLC 3 3.33% $2,790
Paramount Residential Mortgage Group, Inc. 3 3.83% $7,236
Magnolia Bank 3 2.46% $6,849
AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.58% $10,404
Paramount Bank 3 3.21% $7,384
Wyndham Capital Mortgage, Inc. 3 2.29% $2,896
NBH Bank 2 2.38% $3,192
AMERICAN FINANCING CORPORATION 2 2.50% $3,795
TJC Mortgage, Inc. 2 2.13% $3,993
Sunflower Bank 2 2.81% $3,056
ACCELERATE MORTGAGE, LLC 2 2.37% $5,417
Strong Home Mortgage, LLC 2 2.75% $1,631
THRIVE MORTGAGE, LLC 2 2.88% $15,499
THE MORTGAGE FIRM, INC. 2 2.94% $3,207
Progress Bank and Trust 2 3.00% $2,911
Flagstar Bank, FSB 2 2.60% $4,097
MCLEAN MORTGAGE CORPORATION 2 2.63% $5,612
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 2.31% $4,095
STEARNS LENDING, LLC 2 2.75% $4,287
FIRST COMMUNITY MORTGAGE, INC. 2 2.56% $11,033
MORTGAGE ONE OF THE SOUTH, INC. 2 2.25% $4,299
DAS Acquisition Company, LLC 2 3.06% $5,942
AmeriHome Mortgage Company, LLC 2 2.75% $2,306
Armed Forces Bank 2 2.75% $8,047
Presidential Bank, FSB 2 2.31% $7,430
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 3.63% $1,138
Northpointe Bank 2 2.88% $13,556
Prime Choice Funding Inc. 2 2.56% $8,742
Ameris Bank 2 2.69% $9,765
UNION HOME MORTGAGE CORP. 2 2.75% $12,438
SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 2.63% $3,457
ZILLOW HOME LOANS, LLC 1 2.88% $1,950
1ST SIGNATURE LENDING, LLC 1 3.13% $9,178
ACADEMY MORTGAGE CORPORATION 1 3.50% $15,491
AMERICAN FINANCIAL RESOURCES, INC. 1 2.50% $6,056
AMERICAN HOME LENDING USA, LLC 1 2.25% $4,835
AMERIFIRST FINANCIAL CORPORATION 1 2.63% $8,068
AmRes Corporation 1 3.00% $6,162
ASPIRE FINANCIAL, INC. 1 2.25% $2,414
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 2.50% $10,432
BAY CAPITAL MORTGAGE CORPORATION 1 2.25% $480
BAY EQUITY LLC 1 2.63% $5,535
BBVA USA 1 3.25% $10,883
CALCON MUTUAL MORTGAGE LLC 1 4.13% $1,356
Capital Bank 1 2.38% $3,812
Carrollton Bank 1 2.63% $6,231
CHURCHILL MORTGAGE CORPORATION 1 2.38% $4,734
Community Bank of Mississippi 1 3.63% $203
Community First National Bank 1 2.75% $6,165
CONTOUR MORTGAGE CORPORATION 1 2.25% $3,419
CRESCENT MORTGAGE COMPANY 1 2.50% $19,976
DEVELOPER'S MORTGAGE COMPANY 1 2.75% $8,517
EMBRACE HOME LOANS, INC. 1 2.50% $10,281
EMM LOANS LLC 1 2.25% $2,930
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 2.38% $7,718
FBT Mortgage, L.L.C. 1 2.88% $6,119
FINANCE OF AMERICA MORTGAGE LLC 1 2.75% $4,098
First Heritage Mortgage, LLC 1 2.25% $2,263
First Horizon Bank 1 2.38% $12,175
First Internet Bank of Indiana 1 2.38% $3,791
First Mortgage Solutions, LLC 1 2.25% $2,137
First Savings Bank 1 2.63% $7,028
FOUNDATION MORTGAGE CORPORATION 1 2.75% $11,008
Genesee Regional Bank 1 3.13% $12,614
GUILD MORTGAGE COMPANY 1 2.38% $6,641
Gulf Coast Bank and Trust Company 1 2.88% $14,719
Hamilton Mortgage Corporation 1 2.25% $4,502
HOMESIDE FINANCIAL, LLC 1 2.25% $10,248
INTERCOASTAL MORTGAGE COMPANY 1 2.75% $4,179
KEESLER 1 3.75% $3,932
KS StateBank 1 2.50% $20,774
Manufacturers and Traders Trust Company 1 2.38% $6,531
MID AMERICA MORTGAGE, INC. 1 3.75% $13,110
MORTGAGEONE, INC. 1 2.50% $18,499
OCMBC, INC. 1 3.00% $13,428
OPEN MORTGAGE, LLC 1 3.00% $2,156
PHH Mortgage Corporation 1 2.88% $8,890
Plains Commerce Bank 1 2.75% $10,975
PNC Bank 1 2.75% $3,471
Residential Mortgage Solutions, Inc. 1 2.63% $13,265
RESOURCE FINANCIAL SERVICES, INC. 1 2.25% $2,443
ROYAL UNITED MORTGAGE LLC 1 2.63% $24,329
SHELTER HOME MORTGAGE, LLC 1 3.25% $7,548
Sierra Pacific Mortgage Company, Inc. 1 2.75% $5,812
South State Bank 1 2.25% $4,382
T2 FINANCIAL LLC 1 3.25% $1,814
TCF National Bank 1 2.25% $26,105
The Central Trust Bank 1 2.25% $3,997
TIDEWATER MORTGAGE SERVICES, INC. 1 2.75% $6,807
VANDERBILT MORTGAGE AND FINANCE, INC. 1 4.25% $2,683
VAN DYK MORTGAGE CORPORATION 1 3.25% $7,280
1ST FINANCIAL, INC. 1 3.00% $2,916

The top Panama City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 202 VA loans originated. Their average total fees are $7,838, which is $1,882 lower than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Panama City VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,512), PENTAGON FEDERAL CREDIT UNION ($2,512), FREEDOM MORTGAGE CORPORATION ($2,933), Mr. Cooper ( Nationstar Mortgage ) ($3,081) and VILLAGE CAPITAL & INVESTMENT LLC ($3,169).

The lowest rate Panama City VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.32%), PENTAGON FEDERAL CREDIT UNION (2.34%), VILLAGE CAPITAL & INVESTMENT LLC (2.40%), HOME POINT FINANCIAL CORPORATION (2.40%) and PENNYMAC LOAN SERVICES, LLC (2.41%).


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 $284,500 (6.0%) $381,130 (6.0%) 1.05 2,004
2018-02-01 $283,000 (5.2%) $379,509 (5.6%) 1.02 2,036
2018-03-01 $289,000 (7.1%) $383,020 (4.2%) 1.00 2,082
2018-04-01 $295,000 (5.7%) $384,941 (1.8%) 0.99 2,151
2018-05-01 $297,000 (4.2%) $386,402 (0.7%) 0.99 2,218
2018-06-01 $299,000 (3.5%) $393,411 (0.6%) 1.00 2,150
2018-07-01 $299,900 (3.8%) $398,588 (1.3%) 1.00 2,136
2018-08-01 $299,900 (5.2%) $397,653 (0.7%) 1.00 2,203
2018-09-01 $299,900 (3.8%) $392,646 (-0.6%) 1.00 2,268
2018-10-01 $299,900 (5.5%) $398,324 (2.9%) 1.00 2,166
2018-11-01 $302,450 (4.7%) $406,640 (7.0%) 1.01 1,864
2018-12-01 $318,900 (10.0%) $410,685 (6.2%) 1.09 1,987
2019-01-01 $321,450 (13.0%) $411,030 (7.8%) 1.11 1,936
2019-02-01 $326,150 (15.3%) $422,661 (11.4%) 1.09 2,021
2019-03-01 $333,436 (15.4%) $432,102 (12.8%) 1.09 2,040
2019-04-01 $339,350 (15.0%) $441,285 (14.6%) 1.07 2,029
2019-05-01 $338,250 (13.9%) $445,056 (15.2%) 1.04 2,092
2019-06-01 $341,700 (14.3%) $434,346 (10.4%) 1.05 2,074
2019-07-01 $342,800 (14.3%) $437,450 (9.8%) 1.07 2,089
2019-08-01 $337,314 (12.5%) $428,277 (7.7%) 1.06 2,178
2019-09-01 $329,950 (10.0%) $415,442 (5.8%) 1.05 2,317
2019-10-01 $325,000 (8.4%) $411,192 (3.2%) 1.04 2,394
2019-11-01 $325,000 (7.5%) $402,719 (-1.0%) 1.05 2,407
2019-12-01 $318,000 (-0.3%) $396,386 (-3.5%) 1.06 2,463
2020-01-01 $314,950 (-2.0%) $407,918 (-0.8%) 1.05 2,375
2020-02-01 $315,000 (-3.4%) $405,026 (-4.2%) 1.02 2,440
2020-03-01 $320,950 (-3.7%) $417,016 (-3.5%) 1.00 2,579
2020-04-01 $319,000 (-6.0%) $413,894 (-6.2%) 0.99 2,822
2020-05-01 $325,000 (-3.9%) $416,783 (-6.4%) 0.98 2,745
2020-06-01 $332,175 (-2.8%) $421,660 (-2.9%) 0.97 2,439
2020-07-01 $329,950 (-3.8%) $426,981 (-2.4%) 0.95 2,241
2020-08-01 $334,181 (-0.9%) $428,876 (0.1%) 0.95 2,077
2020-09-01 $339,000 (2.7%) $443,086 (6.7%) 0.97 1,847
2020-10-01 $335,400 (3.2%) $450,002 (9.4%) 0.96 1,757
2020-11-01 $329,450 (1.4%) $472,937 (17.4%) 0.94 1,685
2020-12-01 $315,000 (-0.9%) $467,984 (18.1%) 0.92 1,726
2021-01-01 $305,000 (-3.2%) $447,614 (9.7%) 0.90 1,699
2021-02-01 $302,000 (-4.1%) $468,592 (15.7%) 0.87 1,199
2021-03-01 $318,650 (-0.7%) $494,372 (18.6%) 0.89 961
2021-04-01 $336,353 (5.4%) $554,692 (34.0%) 0.90 817
2021-05-01 $350,944 (8.0%) $590,583 (41.7%) 0.92 784
2021-06-01 $377,450 (13.6%) $596,671 (41.5%) 0.98 799
2021-07-01 $399,250 (21.0%) $590,966 (38.4%) 1.04 956
2021-08-01 $419,500 (25.5%) $601,005 (40.1%) 1.10 1,231
2021-09-01 $426,000 (25.7%) $603,967 (36.3%) 1.12 1,294
2021-10-01 $425,000 (26.7%) $601,146 (33.6%) 1.12 1,232
2021-11-01 $409,700 (24.4%) $596,827 (26.2%) 1.08 1,096
2021-12-01 $399,000 (26.7%) $613,793 (31.2%) 1.06 1,001
2022-01-01 $399,995 (31.2%) $653,947 (46.1%) 1.07 853
2022-02-01 $422,000 (39.7%) $684,667 (46.1%) 1.08 703
2022-03-01 $447,450 (40.4%) $742,757 (50.2%) 1.11 753
2022-04-01 $495,000 (47.2%) $793,607 (43.1%) 1.16 981
Panama City's median listing price for 2022-04-01 was $495,000, a difference of $158,647 (47.2%) versus the prior year and $47,550 versus the prior month.

Panama City's median listing price comes in at 116% of the national average.

Panama City's average listing price for 2022-04-01 was $793,607, a difference of $238,915 (43.1%) versus the prior year and $50,850 versus the prior month.

For the 2022-04-01 period, Panama City had 981 MLS listings, a difference of 228 listings (30%) versus the prior month and 164 listings (20%) 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
2018-01-01 101 days 1,622 sqft
2018-02-01 93 days 1,639 sqft
2018-03-01 72 days 1,656 sqft
2018-04-01 70 days 1,650 sqft
2018-05-01 67 days 1,647 sqft
2018-06-01 74 days 1,656 sqft
2018-07-01 78 days 1,667 sqft
2018-08-01 81 days 1,644 sqft
2018-09-01 80 days 1,620 sqft
2018-10-01 93 days 1,612 sqft
2018-11-01 109 days 1,604 sqft
2018-12-01 107 days 1,542 sqft
2019-01-01 106 days 1,532 sqft
2019-02-01 82 days 1,506 sqft
2019-03-01 88 days 1,504 sqft
2019-04-01 82 days 1,500 sqft
2019-05-01 78 days 1,506 sqft
2019-06-01 73 days 1,525 sqft
2019-07-01 76 days 1,541 sqft
2019-08-01 76 days 1,524 sqft
2019-09-01 74 days 1,503 sqft
2019-10-01 74 days 1,506 sqft
2019-11-01 80 days 1,506 sqft
2019-12-01 91 days 1,508 sqft
2020-01-01 95 days 1,515 sqft
2020-02-01 91 days 1,508 sqft
2020-03-01 69 days 1,529 sqft
2020-04-01 72 days 1,512 sqft
2020-05-01 84 days 1,506 sqft
2020-06-01 100 days 1,522 sqft
2020-07-01 100 days 1,542 sqft
2020-08-01 86 days 1,542 sqft
2020-09-01 85 days 1,523 sqft
2020-10-01 76 days 1,542 sqft
2020-11-01 68 days 1,575 sqft
2020-12-01 60 days 1,632 sqft
2021-01-01 66 days 1,603 sqft
2021-02-01 69 days 1,583 sqft
2021-03-01 52 days 1,627 sqft
2021-04-01 46 days 1,646 sqft
2021-05-01 31 days 1,654 sqft
2021-06-01 36 days 1,600 sqft
2021-07-01 32 days 1,555 sqft
2021-08-01 36 days 1,567 sqft
2021-09-01 44 days 1,589 sqft
2021-10-01 53 days 1,594 sqft
2021-11-01 57 days 1,638 sqft
2021-12-01 57 days 1,646 sqft
2022-01-01 58 days 1,688 sqft
2022-02-01 41 days 1,695 sqft
2022-03-01 33 days 1,672 sqft
2022-04-01 32 days 1,600 sqft
Panama City's median listing age (time on market) for 2022-04-01 was 32 days. This is -30% shorter than the same period one year ago.

Panama City's median square footage for active listings during the 2022-04-01 period was 1,600 sqft. One year prior, the average listing was 1,646 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.