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Compare Current West Palm Beach, Florida Mortgage Rates
Compare West Palm Beach, 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 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.
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West Palm Beach, FL Mortgage Rates as of December 7, 2023
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
Data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's West Palm Beach, FL Mortgage Rates
December 7, 2023
Current mortgage rates in West Palm Beach, 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
Today's West Palm Beach, FL Rates
National Average
Comparison
30 Year Fixed Rate
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7.220%
15 Year Fixed Rate
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6.560%
5/1 Adjustable Rate Mortgage
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6.625%
How Affordable is Housing in West Palm Beach, Florida?
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 $439,593
Based on current mortgage rates and a 10% down payment, you need to make $91,706 per year to buy the median priced home in West Palm Beach
With this income, you could qualify for a $395,634 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 $2,124
The median household income for West Palm Beach, FL (Palm Beach County) is $71,024
Based on this income, you can afford a home valued at approximately $340,453
The home price you can afford to buy based on household income in West Palm Beach is 77% of the median home value which means housing prices are very expensive.
West Palm Beach (Palm Beach County) ranks 62 out of 67 counties in Florida and 3,025 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 very expensive
Loan Limits for West Palm Beach, Florida
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
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for West Palm Beach, FL
1 unit:$557,750
2 units:$714,000
3 units:$863,100
4 units:$1,072,600
VA loan limits for West Palm Beach, FL
1 unit:$726,200
Additional Mortgage Resources for West Palm Beach, FL Residents