Compare mortgage rates and fees for leading lenders in Panama City, 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 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.
December 12, 2019
The current average rate for a 30 year fixed rate mortgage in Panama City 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%
The median home value for Panama City, FL (Bay County) is $198,597
The median household income for Panama City, FL (Bay County) is $51,820
Based on current mortgage rates and a 10% down payment, you need to make $36,846 per year to buy the median priced home in Panama City
The home price you can afford to buy based on household income in Panama City is 141% of the median home value which means housing prices are average
Panama City (Bay County) ranks 39 out of 67 counties in Florida and 2,667 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
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
FHA loan limits for Panama City, FL
VA loan limits for Panama City, FL
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index