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Panama City

Current Mortgage Rates in Panama City, Florida

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.

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Mortgage Rates in Panama City, FL as of December 12, 2019
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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.

How Do Today's Panama City, FL Mortgage Rates Compare?

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%

Mortgage Program
Today's
Panama City, FL Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Panama City, Florida?

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

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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: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Panama City, FL

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Panama City, FL

1 unit: $484,350

Additional Mortgage Resources for Panama City, FL Residents

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Sources

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