»
»
Palm Bay

Current Mortgage Rates in Palm Bay, Florida

Compare mortgage rates and fees for leading lenders in Palm Bay, FL. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Palm Bay.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Palm Bay. Plus, shopping lenders is free and there is no obligation.

%
Mortgage Rates in Palm Bay, FL as of April 5, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

How Do Today's Palm Bay, FL Mortgage Rates Compare?

April 5, 2020

The current average rate for a 30 year fixed rate mortgage in Palm Bay is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Palm Bay, FL Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Palm Bay, Florida?

Below we provide helpful information on the real estate market, home prices and housing affordability in Palm Bay. Understand how much you need to earn to afford a home in Palm Bay, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Palm Bay fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Palm Bay is right for you.

The median home value for Palm Bay, FL (Brevard County) is $235,519

Based on current mortgage rates and a 10% down payment, you need to make $42,387 per year to buy the median priced home in Palm Bay

With this income, you could qualify for a $211,967 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Palm Bay is $982

The median household income for Palm Bay, FL (Brevard County) is $54,352

Based on this income, you can afford a home valued at approximately $301,999

The home price you can afford to buy based on household income in Palm Bay is 128% of the median home value which means housing prices are average. Palm Bay (Brevard County) ranks 46 out of 67 counties in Florida and 2,791 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Palm Bay, FL is average

orange-simple-house
ruler

Loan Limits for Palm Bay, Florida

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Palm Bay (Brevard County) below.

Conforming loan limits for Palm Bay, FL

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Palm Bay, FL

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Palm Bay, FL

1 unit: $510,400

Additional Mortgage Resources for Palm Bay, FL Residents

Mortgage Rates for Florida Cities

Bradenton Mortgage Rates

Cape Coral Mortgage Rates

Clermont Mortgage Rates

Crestview Mortgage Rates

Deltona Mortgage Rates

Fort Lauderdale Mortgage Rates

Gainesville Mortgage Rates

Green Cove Springs Mortgage Rates

Jacksonville Mortgage Rates

Kissimmee Mortgage Rates

Lakeland Mortgage Rates

Miami Mortgage Rates

Naples Mortgage Rates

Navarre Mortgage Rates

New Port Richey Mortgage Rates

Ocala Mortgage Rates

Orlando Mortgage Rates

Palm Bay Mortgage Rates

Panama City Mortgage Rates

Pensacola Mortgage Rates

Port St. Lucie Mortgage Rates

Punta Gorda Mortgage Rates

Sanford Mortgage Rates

Sarasota Mortgage Rates

Spring Hill Mortgage Rates

St. Augustine Mortgage Rates

St. Petersburg Mortgage Rates

Tallahassee Mortgage Rates

Tampa Mortgage Rates

West Palm Beach Mortgage Rates