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 0.27% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

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

The average rate for the prior week (2025-06-13) was 6.62% and one month ago for the week of 2025-05-16, the average rate was 6.58%.

The average rate one year ago was 6.78%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.3%.

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%).

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.