Panama City

Compare Current Panama City, Florida Mortgage Rates

Compare Panama City, FL mortgage rates and fees from top lenders. 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 lowest mortgage rates in Panama City.

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

Panama City, FL Mortgage Rates as of May 23, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.


Compare Today's Panama City, FL Mortgage Rates

May 23, 2022

Current mortgage rates in Panama City, FL are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Panama City, FL Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Panama City, Florida?

Below we provide helpful information on the real estate market, home prices and housing affordability in Panama City. Understand how much you need to earn to afford a home in Panama City, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Panama City 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 Panama City is right for you.

The median home value for Panama City, FL (Bay County) is $256,410

Based on current mortgage rates and a 10% down payment, you need to make $42,012 per year to buy the median priced home in Panama City

With this income, you could qualify for a $230,769 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 Panama City is $973

The median household income for Panama City, FL (Bay County) is $64,258

Based on this income, you can afford a home valued at approximately $392,184

The home price you can afford to buy based on household income in Panama City is 153% of the median home value which means housing prices are average. Panama City (Bay County) ranks 31 out of 67 counties in Florida and 2,552 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Panama City, FL is average


Loan Limits for Panama City, Florida

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

Conforming loan limits for Panama City, FL

1 unit: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Panama City, FL

1 unit: $420,680
2 units: $538,650
3 units: $651,050
4 units: $809,150

VA loan limits for Panama City, FL

1 unit: $647,200

Additional Mortgage Resources for Panama City, FL Residents

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