Compare mortgage rates and fees for leading lenders in West Palm Beach, 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 West Palm Beach.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in West Palm Beach. Plus, shopping lenders is free and there is no obligation.
August 14, 2020
The current average rate for a 30 year fixed rate mortgage in West Palm Beach 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 West Palm Beach. Understand how much you need to earn to afford a home in West Palm Beach, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in West Palm Beach 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 West Palm Beach is right for you.
The median home value for West Palm Beach, FL (Palm Beach County) is $332,560
Based on current mortgage rates and a 10% down payment, you need to make $59,852 per year to buy the median priced home in West Palm Beach
With this income, you could qualify for a $299,304 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 West Palm Beach is $1,386
The median household income for West Palm Beach, FL (Palm Beach County) is $60,385
Based on this income, you can afford a home valued at approximately $335,518
The home price you can afford to buy based on household income in West Palm Beach is 101% of the median home value which means housing prices are average. West Palm Beach (Palm Beach County) ranks 63 out of 67 counties in Florida and 2,985 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in West Palm Beach, FL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for West Palm Beach (Palm Beach County) below.
Conforming loan limits for West Palm Beach, FL
FHA loan limits for West Palm Beach, FL
VA loan limits for West Palm Beach, FL
Learn what price home you can afford to buy in West Palm Beach