Compare mortgage rates and fees for leading lenders in Pensacola, 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 Pensacola.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Pensacola. Plus, shopping lenders is free and there is no obligation.
August 13, 2020
The current average rate for a 30 year fixed rate mortgage in Pensacola 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Pensacola. Understand how much you need to earn to afford a home in Pensacola, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Pensacola 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 Pensacola is right for you.
The median home value for Pensacola, FL (Escambia County) is $175,065
Based on current mortgage rates and a 10% down payment, you need to make $31,507 per year to buy the median priced home in Pensacola
With this income, you could qualify for a $157,558 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 Pensacola is $730
The median household income for Pensacola, FL (Escambia County) is $49,949
Based on this income, you can afford a home valued at approximately $277,534
The home price you can afford to buy based on household income in Pensacola is 159% of the median home value which means housing prices are average. Pensacola (Escambia County) ranks 29 out of 67 counties in Florida and 2,387 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Pensacola, FL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Pensacola (Escambia County) below.
Conforming loan limits for Pensacola, FL
FHA loan limits for Pensacola, FL
VA loan limits for Pensacola, FL