Pensacola VA Loans
PENSACOLA-FERRY PASS-BRENT, 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.
Pensacola's 247 lenders originated 8,187 VA loans during 2021. The total origination value was $2,303,325,000, with an average VA loan value of $281,339.
Pensacola VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Pensacola
averaged
6.29%
for the week of 2022-09-23, compared to the national average (all VA variants) of
5.992% for the same period.
The average rate for the prior week (2022-09-16) was
5.95% and
one month ago for the week of 2022-08-19, the
average rate was 5.2%.
The average rate one year ago was 2.91%.
For refis of the same type during the week of 2022-09-23, the average rate
was 5.97%.
Pensacola 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 Pensacola level.
The top Pensacola VA lender as defined by loan originations is Mortgage Research Center, LLC, with
611 VA loans originated. Their average total fees are
$7,540, which is $2,574
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Pensacola VA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC ($2,471), LAKEVIEW LOAN SERVICING, LLC ($2,797), VILLAGE CAPITAL MORTGAGE ($3,017), PLANET HOME LENDING, LLC ($3,047) and FREEDOM MORTGAGE CORPORATION ($3,195).
The lowest rate Pensacola VA lenders (with over 10 loans originated) are
ACCELERATE MORTGAGE, LLC (2.20%), BNC National Bank (2.32%), CLEARPATH LENDING (2.34%), VILLAGE CAPITAL MORTGAGE (2.34%) and UNION HOME MORTGAGE CORP. (2.34%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Pensacola (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 | $259,450 (12.8%) | $355,173 (11.5%) | 0.96 | 2,690 |
| 2018-02-01 | $259,900 (11.4%) | $354,120 (9.7%) | 0.94 | 2,738 |
| 2018-03-01 | $265,000 (11.3%) | $362,017 (9.0%) | 0.92 | 2,763 |
| 2018-04-01 | $269,900 (10.8%) | $371,142 (8.9%) | 0.91 | 2,778 |
| 2018-05-01 | $271,250 (8.9%) | $370,186 (6.8%) | 0.90 | 2,940 |
| 2018-06-01 | $269,900 (8.2%) | $362,603 (5.8%) | 0.90 | 2,944 |
| 2018-07-01 | $268,388 (7.4%) | $361,398 (7.0%) | 0.89 | 3,069 |
| 2018-08-01 | $263,509 (5.4%) | $354,721 (4.0%) | 0.88 | 3,045 |
| 2018-09-01 | $264,900 (3.9%) | $358,439 (3.1%) | 0.89 | 2,975 |
| 2018-10-01 | $263,375 (4.5%) | $362,013 (4.9%) | 0.88 | 2,916 |
| 2018-11-01 | $265,000 (6.0%) | $361,158 (4.2%) | 0.89 | 2,858 |
| 2018-12-01 | $261,750 (0.7%) | $359,998 (1.3%) | 0.90 | 2,790 |
| 2019-01-01 | $260,018 (0.2%) | $357,140 (0.6%) | 0.90 | 2,622 |
| 2019-02-01 | $260,000 (0.0%) | $361,639 (2.1%) | 0.87 | 2,570 |
| 2019-03-01 | $273,000 (3.0%) | $381,064 (5.3%) | 0.89 | 2,518 |
| 2019-04-01 | $280,500 (3.9%) | $395,788 (6.6%) | 0.88 | 2,624 |
| 2019-05-01 | $286,158 (5.5%) | $399,775 (8.0%) | 0.88 | 2,658 |
| 2019-06-01 | $289,000 (7.1%) | $406,045 (12.0%) | 0.89 | 2,653 |
| 2019-07-01 | $289,058 (7.7%) | $410,677 (13.6%) | 0.90 | 2,643 |
| 2019-08-01 | $289,514 (9.9%) | $410,746 (15.8%) | 0.91 | 2,577 |
| 2019-09-01 | $287,224 (8.4%) | $411,422 (14.8%) | 0.91 | 2,515 |
| 2019-10-01 | $285,000 (8.2%) | $409,629 (13.2%) | 0.91 | 2,557 |
| 2019-11-01 | $284,900 (7.5%) | $410,702 (13.7%) | 0.92 | 2,485 |
| 2019-12-01 | $279,950 (7.0%) | $412,667 (14.6%) | 0.93 | 2,387 |
| 2020-01-01 | $279,900 (7.7%) | $416,571 (16.6%) | 0.93 | 2,298 |
| 2020-02-01 | $283,234 (8.9%) | $411,824 (13.9%) | 0.91 | 2,242 |
| 2020-03-01 | $292,500 (7.1%) | $418,634 (9.9%) | 0.91 | 2,170 |
| 2020-04-01 | $289,900 (3.4%) | $406,273 (2.7%) | 0.90 | 2,241 |
| 2020-05-01 | $295,000 (3.1%) | $418,172 (4.6%) | 0.89 | 2,104 |
| 2020-06-01 | $301,185 (4.2%) | $440,215 (8.4%) | 0.88 | 1,696 |
| 2020-07-01 | $299,945 (3.8%) | $441,955 (7.6%) | 0.86 | 1,598 |
| 2020-08-01 | $299,000 (3.3%) | $462,093 (12.5%) | 0.85 | 1,492 |
| 2020-09-01 | $299,748 (4.4%) | $457,858 (11.3%) | 0.86 | 1,368 |
| 2020-10-01 | $296,535 (4.1%) | $464,198 (13.3%) | 0.85 | 1,261 |
| 2020-11-01 | $293,450 (3.0%) | $470,542 (14.6%) | 0.84 | 1,201 |
| 2020-12-01 | $298,075 (6.5%) | $465,963 (12.9%) | 0.87 | 1,174 |
| 2021-01-01 | $312,500 (11.7%) | $462,123 (10.9%) | 0.92 | 1,068 |
| 2021-02-01 | $329,575 (16.4%) | $503,233 (22.2%) | 0.95 | 825 |
| 2021-03-01 | $345,450 (18.1%) | $523,367 (25.0%) | 0.97 | 756 |
| 2021-04-01 | $347,192 (19.8%) | $533,425 (31.3%) | 0.93 | 793 |
| 2021-05-01 | $346,900 (17.6%) | $532,073 (27.2%) | 0.91 | 860 |
| 2021-06-01 | $352,500 (17.0%) | $529,036 (20.2%) | 0.92 | 969 |
| 2021-07-01 | $349,950 (16.7%) | $526,968 (19.2%) | 0.91 | 1,092 |
| 2021-08-01 | $359,950 (20.4%) | $533,681 (15.5%) | 0.95 | 1,244 |
| 2021-09-01 | $359,950 (20.1%) | $541,598 (18.3%) | 0.95 | 1,306 |
| 2021-10-01 | $364,000 (22.8%) | $546,017 (17.6%) | 0.96 | 1,326 |
| 2021-11-01 | $369,000 (25.8%) | $542,922 (15.4%) | 0.97 | 1,274 |
| 2021-12-01 | $374,900 (25.8%) | $549,975 (18.0%) | 1.00 | 1,189 |
| 2022-01-01 | $379,990 (21.6%) | $539,080 (16.7%) | 1.01 | 979 |
| 2022-02-01 | $382,500 (16.1%) | $581,557 (15.6%) | 0.97 | 808 |
| 2022-03-01 | $387,597 (12.2%) | $577,897 (10.4%) | 0.96 | 775 |
| 2022-04-01 | $389,900 (12.3%) | $584,300 (9.5%) | 0.92 | 847 |
| 2022-05-01 | $404,135 (16.5%) | $577,015 (8.5%) | 0.90 | 1,100 |
| 2022-06-01 | $400,000 (13.5%) | $585,920 (10.8%) | 0.89 | 1,373 |
| 2022-07-01 | $400,000 (14.3%) | $575,477 (9.2%) | 0.89 | 1,925 |
| 2022-08-01 | $401,749 (11.6%) | $579,851 (8.7%) | 0.92 | 2,004 |
Pensacola's median listing price comes in at 92% of the national average.
Pensacola's average listing price for 2022-08-01 was $579,851, a difference of $46,170 (8.7%) versus the prior year and $4,374 versus the prior month.
For the 2022-08-01 period, Pensacola had 2,004 MLS listings, a difference of 79 listings (4%) versus the prior month and 760 listings (61%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Pensacola (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 93 days | 2,000 sqft |
| 2018-02-01 | 89 days | 1,987 sqft |
| 2018-03-01 | 72 days | 2,004 sqft |
| 2018-04-01 | 67 days | 2,010 sqft |
| 2018-05-01 | 66 days | 2,017 sqft |
| 2018-06-01 | 66 days | 2,000 sqft |
| 2018-07-01 | 72 days | 2,000 sqft |
| 2018-08-01 | 75 days | 1,984 sqft |
| 2018-09-01 | 82 days | 1,986 sqft |
| 2018-10-01 | 85 days | 1,988 sqft |
| 2018-11-01 | 89 days | 2,000 sqft |
| 2018-12-01 | 94 days | 1,996 sqft |
| 2019-01-01 | 96 days | 1,981 sqft |
| 2019-02-01 | 91 days | 1,948 sqft |
| 2019-03-01 | 78 days | 1,978 sqft |
| 2019-04-01 | 59 days | 2,018 sqft |
| 2019-05-01 | 53 days | 2,034 sqft |
| 2019-06-01 | 61 days | 2,034 sqft |
| 2019-07-01 | 65 days | 2,028 sqft |
| 2019-08-01 | 66 days | 2,025 sqft |
| 2019-09-01 | 64 days | 2,026 sqft |
| 2019-10-01 | 63 days | 2,029 sqft |
| 2019-11-01 | 66 days | 2,025 sqft |
| 2019-12-01 | 77 days | 2,003 sqft |
| 2020-01-01 | 79 days | 2,004 sqft |
| 2020-02-01 | 64 days | 2,010 sqft |
| 2020-03-01 | 58 days | 2,039 sqft |
| 2020-04-01 | 60 days | 2,010 sqft |
| 2020-05-01 | 65 days | 2,008 sqft |
| 2020-06-01 | 59 days | 2,017 sqft |
| 2020-07-01 | 50 days | 2,003 sqft |
| 2020-08-01 | 49 days | 1,955 sqft |
| 2020-09-01 | 49 days | 1,956 sqft |
| 2020-10-01 | 51 days | 1,937 sqft |
| 2020-11-01 | 48 days | 1,869 sqft |
| 2020-12-01 | 45 days | 1,879 sqft |
| 2021-01-01 | 46 days | 1,882 sqft |
| 2021-02-01 | 43 days | 1,904 sqft |
| 2021-03-01 | 24 days | 2,004 sqft |
| 2021-04-01 | 21 days | 1,907 sqft |
| 2021-05-01 | 18 days | 1,880 sqft |
| 2021-06-01 | 21 days | 1,871 sqft |
| 2021-07-01 | 24 days | 1,851 sqft |
| 2021-08-01 | 27 days | 1,884 sqft |
| 2021-09-01 | 30 days | 1,882 sqft |
| 2021-10-01 | 34 days | 1,874 sqft |
| 2021-11-01 | 38 days | 1,872 sqft |
| 2021-12-01 | 46 days | 1,917 sqft |
| 2022-01-01 | 48 days | 1,923 sqft |
| 2022-02-01 | 28 days | 1,946 sqft |
| 2022-03-01 | 24 days | 1,928 sqft |
| 2022-04-01 | 21 days | 1,903 sqft |
| 2022-05-01 | 21 days | 1,918 sqft |
| 2022-06-01 | 25 days | 1,910 sqft |
| 2022-07-01 | 29 days | 1,930 sqft |
| 2022-08-01 | 38 days | 1,965 sqft |
Pensacola's median square footage for active listings during the 2022-08-01 period was 1,965 sqft. One year prior, the average listing was 1,884 sqft.
