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West Palm Beach

Current Mortgage Rates in West Palm Beach, Florida

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.

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Mortgage Rates in West Palm Beach, FL as of August 14, 2020
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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.
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How Do Today's West Palm Beach, FL Mortgage Rates Compare?

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%

Mortgage Program
Today's
West Palm Beach, FL Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

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 $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

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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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for West Palm Beach, FL

1 unit: $373,750
2 units: $478,450
3 units: $578,350
4 units: $718,750

VA loan limits for West Palm Beach, FL

1 unit: $510,400

Additional Mortgage Resources for West Palm Beach, FL Residents

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