Palm Bay FHA Loan Rates, Closing Costs & Stats

PALM BAY-MELBOURNE-TITUSVILLE, FL

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Palm Bay's 171 lenders originated 2,843 FHA loans during 2024. The total origination value was $902,105,000, with an average FHA loan value of $317,307.

Palm Bay FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Palm Bay averaged 6.33% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

Palm Bay's average FHA mortgage closing costs are $9,131.

The average rate for the prior week (2025-03-28) was 6.13% and one month ago for the week of 2025-02-28, the average rate was 6.12%.

The average rate one year ago was 6.33%.

For refis of the same type during the week of 2025-04-04, the average rate was 5.95%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Palm Bay FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Palm Bay level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 368 6.21% $13,322
DHI MORTGAGE COMPANY, LTD. 246 5.09% $9,570
QUICKEN LOANS, LLC 188 6.27% $12,644
THE MORTGAGE FIRM, INC. 153 6.68% $11,789
CROSSCOUNTRY MORTGAGE, LLC 122 6.42% $12,368
FREEDOM MORTGAGE CORPORATION 92 6.25% $12,579
FBC MORTGAGE, LLC 67 5.84% $12,182
EAGLE HOME MORTGAGE, LLC 54 4.72% $11,017
Flagstar Bank, FSB 47 6.25% $11,505
LOANDEPOT.COM, LLC 46 6.19% $12,420
PENNYMAC LOAN SERVICES, LLC 45 6.19% $11,663
Plains Commerce Bank 39 6.42% $13,234
EMBRACE HOME LOANS, INC. 36 6.11% $13,729
Equity Prime Mortgage LLC 35 6.78% $13,447
First Heritage Mortgage, LLC 34 5.43% $15,277
NFM, INC. 34 5.16% $13,802
KBHS HOME LOANS, LLC 34 5.91% $14,039
DIRECT MORTGAGE LOANS, LLC 31 6.39% $12,768
EVERETT FINANCIAL, INC. 28 6.78% $12,833
NEWREZ LLC 27 6.35% $13,338
Paramount Residential Mortgage Group, Inc. 26 6.60% $12,559
BROKER SOLUTIONS, INC. 23 6.60% $12,827
MOVEMENT MORTGAGE, LLC 23 6.45% $14,189
INSPIRE HOME LOANS INC. 23 5.30% $9,843
AMERICAN FINANCIAL NETWORK, INC. 21 6.96% $12,710
PLAZA HOME MORTGAGE, INC. 18 6.55% $14,914
ZILLOW HOME LOANS, LLC 16 6.30% $12,295
U.S. Bank 16 6.22% $11,240
ALKAN MORTGAGE CORPORATION 15 6.62% $11,617
UNION HOME MORTGAGE CORP. 15 6.57% $13,516
Mr. Cooper ( Nationstar Mortgage ) 14 6.69% $12,167
ABSOLUTE HOME MORTGAGE CORPORATION 13 6.54% $12,995
Carrington Mortgage Services, LLC 13 6.09% $13,067
CMG MORTGAGE, INC. 12 6.38% $14,864
Century Mortgage Company DBA Century Lending Company 12 6.19% $12,750
GUILD MORTGAGE COMPANY 12 6.73% $13,124
OCMBC, INC. 12 6.48% $12,717
GUARANTEED RATE, INC. 11 6.41% $15,097
AFFORDABLE MORTGAGE ADVISORS, LLC. 11 6.58% $11,841
VILLAGE CAPITAL MORTGAGE 10 6.52% $8,915
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 10 6.15% $14,236
South State Bank 9 6.22% $11,235
SWBC MORTGAGE CORPORATION 9 6.69% $7,317
COMMUNITY CREDIT UNION OF FLORIDA 9 5.90% $8,792
CARDINAL FINANCIAL 9 6.15% $13,243
JMAC LENDING, INC. 8 6.19% $13,474
AMERICAN FINANCIAL RESOURCES, INC. 8 6.45% $12,216
AmeriHome Mortgage Company, LLC 8 6.51% $8,406
AMERISAVE MORTGAGE CORPORATION 8 6.23% $13,914
Regions Bank 8 6.59% $10,464
EMM LOANS LLC 8 6.20% $16,441
NVR Mortgage Finance, Inc. 8 6.34% $11,996
Mortgage Lenders Investment Trading Corporation 8 6.34% $13,854
MID AMERICA MORTGAGE, INC. 8 7.30% $11,093
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 8 6.80% $11,066
LAKEVIEW LOAN SERVICING, LLC 8 6.45% $9,730
LOANPAL, LLC 7 5.79% $15,130
FIRST COMMUNITY MORTGAGE, INC. 7 6.75% $10,965
PLANET HOME LENDING, LLC 7 6.30% $10,472
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 5.91% $11,579
TOWNE MORTGAGE COMPANY 6 6.46% $14,138
HOMESIDE FINANCIAL, LLC 6 6.15% $12,814
Waterstone Mortgage Corporation 6 6.73% $12,256
The Loan Store, Inc. 6 6.12% $15,478
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.85% $11,710
MUTUAL OF OMAHA MORTGAGE, INC. 6 6.42% $14,795
BAYSHORE MORTGAGE FUNDING, LLC 6 6.44% $10,968
BAY EQUITY LLC 6 6.94% $10,320
SPACE COAST Credit Union 6 6.42% $10,672
SUN WEST MORTGAGE COMPANY, INC. 6 5.90% $18,129
T2 FINANCIAL LLC 5 7.20% $10,060
American Mortgage & Equity Consultants, Inc. 5 6.45% $14,498
JPMorgan Chase Bank 5 6.42% $8,572
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 5 6.03% $12,278
NORWICH COMMERCIAL GROUP, INC. 5 6.48% $14,073
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.60% $14,228
Prosperity Home Mortgage, LLC 5 6.43% $12,992
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 6.41% $9,702
Mortgage Research Center, LLC 4 6.25% $9,665
CANOPY MORTGAGE, LLC 4 6.84% $11,849
HOMESPIRE MORTGAGE CORPORATION 4 6.22% $13,721
GUARANTEED RATE AFFINITY, LLC 4 6.75% $12,035
TJC Mortgage, Inc. 3 6.75% $11,469
Nations Lending Corporation 3 6.58% $11,197
FLAT BRANCH MORTGAGE, INC. 3 6.88% $14,149
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.04% $17,618
Truist 3 6.85% $7,988
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.08% $10,439
SOUTHPOINT FINANCIAL SERVICES, INC. 3 6.25% $16,201
LEADERONE FINANCIAL CORPORATION 3 5.92% $11,025
MILEND, INC. 2 6.19% $12,098
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.69% $15,981
COUNTRYPLACE MORTGAGE, LTD. 2 4.75% $8,849
Loan Simple, Inc. 2 6.94% $19,785
Florida Capital Bank 2 6.13% $13,670
TOP FLITE FINANCIAL, INC. 2 7.06% $15,208
TOTAL MORTGAGE SERVICES, LLC 2 6.38% $15,817
LADERA LENDING, INC. 2 6.19% $11,930
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.75% $12,926
AMERICAN FINANCING CORPORATION 2 5.93% $10,982
POINT Mortgage 2 6.63% $16,278
PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.56% $13,988
VAN DYK MORTGAGE CORPORATION 2 6.88% $6,273
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.50% $12,350
Hometown Equity Mortgage, LLC 2 6.69% $12,615
INTELLILOAN, INC. 2 6.31% $6,698
Ixonia Bank 2 7.19% $15,419
VERITAS FUNDING, LLC 2 6.13% $14,605
Acre Mortgage and Financial Inc 2 6.19% $16,471
PULTE MORTGAGE LLC 2 5.00% $6,471
CALCON MUTUAL MORTGAGE LLC 2 6.69% $15,698
NATIONS DIRECT MORTGAGE, LLC 2 6.75% $16,332
NATIONWIDE MORTGAGE BANKERS, INC. 2 6.50% $14,471
NBKC BANK 2 5.63% $12,580
NEW DAY FINANCIAL, LLC 2 7.75% $3,664
SECURITYNATIONAL MORTGAGE COMPANY 2 6.00% $12,334
FIRST COLONY MORTGAGE CORPORATION 2 5.63% $17,131
LAND HOME FINANCIAL SERVICES, INC. 2 6.75% $12,104
Northpointe Bank 2 6.69% $11,503
NORTHPOINT MORTGAGE, INC. 2 6.00% $16,951
AXIA FINANCIAL, LLC 1 6.75% $13,838
AMERITRUST MORTGAGE CORPORATION 1 6.50% $21,803
Towne Bank 1 6.13% $9,426
Ameris Bank 1 6.75% $9,203
TRISTAR FINANCE, INC. 1 6.75% $17,262
AMERICAN BANCSHARES MORTGAGE 1 6.25% $16,194
Valley National Bank 1 6.25% $10,374
J. VIRGIL, INC. 1 6.75% $16,574
ALLIED MORTGAGE GROUP, INC. 1 5.75% $9,002
Home Mortgage Alliance Corp 1 7.13% $13,459
Alcova Mortgage LLC 1 6.13% $5,530
Lakeview Community Capital, LLC 1 6.75% $7,763
Granite Community Bank 1 6.50% $12,853
Merchants Bank of Indiana 1 6.13% $9,916
MICHIGAN MUTUAL, INC. 1 6.25% $14,632
MORTGAGE EQUITY PARTNERS LLC 1 7.75% $12,355
MORTGAGE FINANCIAL GROUP, INC. 1 5.25% $18,056
GEO-CORP, INC. 1 7.00% $18,656
GENEVA FINANCIAL, LLC 1 6.50% $9,427
MY MORTGAGE, INC. 1 7.13% $18,009
NATION ONE MORTGAGE CORPORATION 1 6.75% $20,362
NEXERA HOLDING LLC 1 5.63% $5,188
ENVOY MORTGAGE, LTD 1 6.63% $12,373
Wells Fargo Bank 1 6.50% $11,790
ENDEAVOR CAPITAL, LLC. 1 6.49% $8,635
OceanFirst Bank 1 5.38% $11,732
Cornerstone First Mortgage, Inc 1 6.00% $14,779
CONTOUR MORTGAGE CORPORATION 1 7.25% $9,733
Performance Financial, Inc. 1 7.75% $17,673
PHH Mortgage Corporation 1 6.00% $14,730
CLIFFCO, INC. 1 6.63% $15,620
CHURCHILL MORTGAGE CORPORATION 1 6.63% $12,520
PNC Bank 1 6.50% $10,028
Wolfe Financial, Inc 1 6.75% $18,938
RADIUS FINANCIAL GROUP INC. 1 6.75% $16,882
BETTER MORTGAGE CORPORATION 1 5.88% $16,821
Residential Acceptance Corporation 1 8.25% $5,594
RESIDENTIAL BANCORP 1 5.50% $13,245
RUOFF MORTGAGE COMPANY, INC. 1 6.38% $8,423
Sierra Pacific Mortgage Company, Inc. 1 6.75% $9,687
SIRVA MORTGAGE, INC. 1 6.63% $6,899
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.75% $23,134
BECKAM FUNDING CORP. 1 6.50% $21,876
Barrington Bank & Trust Company, N.A. 1 6.75% $10,218
STOCKTON MORTGAGE CORPORATION 1 6.75% $12,249
Strong Home Mortgage, LLC 1 5.25% $9,937
SUMMIT FUNDING, INC. 1 5.13% $18,823
Bank of America 1 6.25% $8,936
BancorpSouth 1 6.38% $10,328
1ST FINANCIAL, INC. 1 7.13% $20,408
The Dart Bank 1 6.00% $10,830

The top Palm Bay FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 368 FHA loans originated. Their average total fees are $13,322, which is $3,752 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Palm Bay FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($8,915), DHI MORTGAGE COMPANY, LTD. ($9,570), INSPIRE HOME LOANS INC. ($9,843), EAGLE HOME MORTGAGE, LLC ($11,017) and U.S. Bank ($11,240).

The lowest rate Palm Bay FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.72%), DHI MORTGAGE COMPANY, LTD. (5.09%), NFM, INC. (5.16%), INSPIRE HOME LOANS INC. (5.30%) and First Heritage Mortgage, LLC (5.43%).

Palm Bay FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PALM BAY-MELBOURNE-TITUSVILLE, FL BREVARD 2022 $420,680 $538,650 $651,050 $809,150
PALM BAY-MELBOURNE-TITUSVILLE, FL BREVARD 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Palm Bay (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $279,450 (7.5%) $365,951 (1.9%) 1.04 2,906
2018-02-01 $279,950 (4.9%) $369,003 (1.0%) 1.02 2,960
2018-03-01 $286,333 (4.1%) $373,740 (-0.5%) 1.00 2,974
2018-04-01 $294,975 (5.4%) $381,906 (0.7%) 1.00 2,995
2018-05-01 $293,076 (4.7%) $382,452 (0.3%) 0.98 3,099
2018-06-01 $290,000 (0.4%) $381,884 (-1.3%) 0.97 3,187
2018-07-01 $291,654 (4.2%) $383,541 (0.5%) 0.97 3,217
2018-08-01 $289,450 (2.5%) $381,761 (0.1%) 0.97 3,275
2018-09-01 $280,458 (0.2%) $376,802 (0.0%) 0.94 3,379
2018-10-01 $280,128 (0.1%) $375,245 (1.2%) 0.95 3,444
2018-11-01 $279,850 (0.0%) $373,829 (1.0%) 0.95 3,618
2018-12-01 $275,000 (-1.4%) $372,331 (1.5%) 0.95 3,709
2019-01-01 $279,450 (0.0%) $371,159 (1.4%) 0.97 3,749
2019-02-01 $280,715 (0.3%) $374,352 (1.5%) 0.95 3,822
2019-03-01 $287,043 (0.3%) $379,852 (1.6%) 0.94 3,662
2019-04-01 $289,093 (-2.0%) $383,363 (0.4%) 0.92 3,436
2019-05-01 $289,150 (-1.3%) $386,537 (1.1%) 0.90 3,249
2019-06-01 $294,950 (1.7%) $389,831 (2.1%) 0.92 3,156
2019-07-01 $295,000 (1.2%) $389,082 (1.4%) 0.92 3,100
2019-08-01 $293,671 (1.5%) $392,285 (2.8%) 0.93 3,010
2019-09-01 $297,175 (6.0%) $396,229 (5.2%) 0.95 2,972
2019-10-01 $299,900 (7.1%) $398,858 (6.3%) 0.97 2,929
2019-11-01 $299,900 (7.2%) $393,470 (5.3%) 0.98 2,903
2019-12-01 $295,395 (7.4%) $393,488 (5.7%) 0.99 2,875
2020-01-01 $297,056 (6.3%) $404,977 (9.1%) 0.99 2,836
2020-02-01 $294,371 (4.9%) $402,409 (7.5%) 0.96 2,800
2020-03-01 $299,100 (4.2%) $406,709 (7.1%) 0.94 2,837
2020-04-01 $294,907 (2.0%) $397,396 (3.7%) 0.92 3,013
2020-05-01 $296,511 (2.6%) $398,457 (3.1%) 0.90 2,844
2020-06-01 $298,926 (1.4%) $405,791 (4.1%) 0.88 2,394
2020-07-01 $302,500 (2.5%) $412,085 (5.9%) 0.88 2,125
2020-08-01 $310,000 (5.6%) $417,803 (6.5%) 0.89 2,004
2020-09-01 $315,943 (6.3%) $421,636 (6.4%) 0.91 1,775
2020-10-01 $315,612 (5.2%) $422,563 (5.9%) 0.90 1,734
2020-11-01 $307,070 (2.4%) $416,452 (5.8%) 0.90 1,756
2020-12-01 $299,950 (1.5%) $409,597 (4.1%) 0.89 1,677
2021-01-01 $299,900 (1.0%) $416,782 (2.9%) 0.90 1,468
2021-02-01 $299,950 (1.9%) $424,264 (5.4%) 0.87 1,235
2021-03-01 $311,996 (4.3%) $443,071 (8.9%) 0.89 969
2021-04-01 $326,950 (10.9%) $455,747 (14.7%) 0.89 874
2021-05-01 $339,917 (14.6%) $473,249 (18.8%) 0.90 861
2021-06-01 $349,900 (17.1%) $498,739 (22.9%) 0.92 946
2021-07-01 $350,000 (15.7%) $499,714 (21.3%) 0.92 1,150
2021-08-01 $357,175 (15.2%) $490,485 (17.4%) 0.95 1,255
2021-09-01 $359,350 (13.7%) $493,697 (17.1%) 0.96 1,293
2021-10-01 $369,500 (17.1%) $510,270 (20.8%) 0.99 1,191
2021-11-01 $369,900 (20.5%) $521,744 (25.3%) 0.99 1,179
2021-12-01 $365,250 (21.8%) $509,257 (24.3%) 0.99 1,089
2022-01-01 $369,250 (23.1%) $534,763 (28.3%) 1.00 904
2022-02-01 $373,361 (24.5%) $554,890 (30.8%) 0.97 802
2022-03-01 $373,126 (19.6%) $562,191 (26.9%) 0.93 765
2022-04-01 $390,000 (19.3%) $567,574 (24.5%) 0.93 799
2022-05-01 $402,470 (18.4%) $574,065 (21.3%) 0.92 1,064
2022-06-01 $417,000 (19.2%) $569,554 (14.2%) 0.93 1,285
2022-07-01 $399,900 (14.3%) $538,750 (7.8%) 0.90 1,759
2022-08-01 $390,000 (9.2%) $524,538 (6.9%) 0.90 2,027
2022-09-01 $380,000 (5.8%) $516,482 (4.6%) 0.89 2,042
2022-10-01 $379,900 (2.8%) $513,196 (0.6%) 0.89 2,234
2022-11-01 $376,400 (1.8%) $504,857 (-3.2%) 0.90 2,380
2022-12-01 $375,000 (2.7%) $500,953 (-1.6%) 0.93 2,370
2023-01-01 $375,000 (1.6%) $501,696 (-6.2%) 0.93 2,364
2023-02-01 $374,950 (0.4%) $509,149 (-8.2%) 0.90 2,217
2023-03-01 $376,500 (0.9%) $506,208 (-10.0%) 0.89 2,146
2023-04-01 $376,000 (-3.6%) $513,479 (-9.5%) 0.87 2,041
2023-05-01 $382,815 (-4.9%) $519,302 (-9.5%) 0.87 2,050
2023-06-01 $385,950 (-7.5%) $521,684 (-8.4%) 0.87 2,101
2023-07-01 $389,000 (-2.7%) $517,903 (-3.9%) 0.88 2,138
2023-08-01 $395,000 (1.3%) $523,931 (-0.1%) 0.91 2,280
2023-09-01 $390,000 (2.6%) $520,219 (0.7%) 0.91 2,516
2023-10-01 $389,900 (2.6%) $522,630 (1.8%) 0.92 2,834
2023-11-01 $386,250 (2.6%) $516,599 (2.3%) 0.92 3,066
2023-12-01 $380,000 (1.3%) $510,454 (1.9%) 0.93 3,073
2024-01-01 $387,950 (3.5%) $515,361 (2.7%) 0.95 3,195
2024-02-01 $389,950 (4.0%) $525,634 (3.2%) 0.94 3,252
2024-03-01 $388,283 (3.1%) $514,169 (1.6%) 0.91 3,409
2024-04-01 $395,000 (5.1%) $518,994 (1.1%) 0.92 3,568
2024-05-01 $397,000 (3.7%) $519,395 (0.0%) 0.90 3,647
2024-06-01 $394,900 (2.3%) $517,032 (-0.9%) 0.90 3,773
2024-07-01 $396,510 (1.9%) $520,771 (0.6%) 0.91 3,809
2024-08-01 $390,000 (-1.3%) $515,105 (-1.7%) 0.91 3,869
2024-09-01 $390,000 (0.0%) $517,868 (-0.5%) 0.92 3,930
2024-10-01 $390,480 (0.2%) $513,326 (-1.8%) 0.92 3,934
2024-11-01 $389,000 (0.7%) $510,135 (-1.3%) 0.93 4,063
2024-12-01 $385,000 (1.3%) $508,004 (-0.5%) 0.96 3,992
2025-01-01 $385,000 (-0.8%) $504,922 (-2.0%) 0.96 4,057
2025-02-01 $381,475 (-2.2%) $499,049 (-5.1%) 0.93 4,256
2025-03-01 $385,000 (-0.9%) $504,612 (-1.9%) 0.00 4,431
Palm Bay's median listing price for 2025-03-01 was $385,000, a difference of $-3,283 (-0.9%) versus the prior year and $3,525 versus the prior month.

Palm Bay's median listing price comes in at 0% of the national average.

Palm Bay's average listing price for 2025-03-01 was $504,612, a difference of $-9,557 (-1.9%) versus the prior year and $5,563 versus the prior month.

For the 2025-03-01 period, Palm Bay had 4,431 MLS listings, a difference of 175 listings (4%) versus the prior month and 1,022 listings (30%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Palm Bay (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 63 days 1,875 sqft
2018-02-01 52 days 1,870 sqft
2018-03-01 50 days 1,876 sqft
2018-04-01 51 days 1,903 sqft
2018-05-01 50 days 1,893 sqft
2018-06-01 51 days 1,898 sqft
2018-07-01 56 days 1,908 sqft
2018-08-01 57 days 1,877 sqft
2018-09-01 57 days 1,854 sqft
2018-10-01 58 days 1,850 sqft
2018-11-01 59 days 1,834 sqft
2018-12-01 63 days 1,824 sqft
2019-01-01 68 days 1,823 sqft
2019-02-01 62 days 1,828 sqft
2019-03-01 59 days 1,840 sqft
2019-04-01 60 days 1,854 sqft
2019-05-01 61 days 1,868 sqft
2019-06-01 63 days 1,885 sqft
2019-07-01 59 days 1,872 sqft
2019-08-01 60 days 1,868 sqft
2019-09-01 63 days 1,874 sqft
2019-10-01 64 days 1,877 sqft
2019-11-01 61 days 1,850 sqft
2019-12-01 67 days 1,850 sqft
2020-01-01 67 days 1,855 sqft
2020-02-01 60 days 1,841 sqft
2020-03-01 54 days 1,858 sqft
2020-04-01 58 days 1,847 sqft
2020-05-01 71 days 1,852 sqft
2020-06-01 75 days 1,841 sqft
2020-07-01 64 days 1,845 sqft
2020-08-01 61 days 1,841 sqft
2020-09-01 61 days 1,844 sqft
2020-10-01 64 days 1,847 sqft
2020-11-01 54 days 1,816 sqft
2020-12-01 54 days 1,776 sqft
2021-01-01 58 days 1,777 sqft
2021-02-01 47 days 1,799 sqft
2021-03-01 55 days 1,808 sqft
2021-04-01 53 days 1,815 sqft
2021-05-01 47 days 1,796 sqft
2021-06-01 41 days 1,775 sqft
2021-07-01 34 days 1,764 sqft
2021-08-01 35 days 1,770 sqft
2021-09-01 40 days 1,784 sqft
2021-10-01 51 days 1,806 sqft
2021-11-01 52 days 1,789 sqft
2021-12-01 59 days 1,785 sqft
2022-01-01 66 days 1,775 sqft
2022-02-01 47 days 1,796 sqft
2022-03-01 33 days 1,752 sqft
2022-04-01 30 days 1,750 sqft
2022-05-01 29 days 1,781 sqft
2022-06-01 30 days 1,795 sqft
2022-07-01 32 days 1,800 sqft
2022-08-01 38 days 1,772 sqft
2022-09-01 45 days 1,754 sqft
2022-10-01 50 days 1,764 sqft
2022-11-01 53 days 1,755 sqft
2022-12-01 59 days 1,756 sqft
2023-01-01 60 days 1,754 sqft
2023-02-01 57 days 1,750 sqft
2023-03-01 52 days 1,754 sqft
2023-04-01 50 days 1,755 sqft
2023-05-01 47 days 1,768 sqft
2023-06-01 47 days 1,767 sqft
2023-07-01 52 days 1,757 sqft
2023-08-01 48 days 1,742 sqft
2023-09-01 47 days 1,736 sqft
2023-10-01 50 days 1,755 sqft
2023-11-01 53 days 1,745 sqft
2023-12-01 60 days 1,732 sqft
2024-01-01 66 days 1,751 sqft
2024-02-01 60 days 1,777 sqft
2024-03-01 54 days 1,772 sqft
2024-04-01 52 days 1,780 sqft
2024-05-01 52 days 1,762 sqft
2024-06-01 57 days 1,762 sqft
2024-07-01 61 days 1,764 sqft
2024-08-01 65 days 1,753 sqft
2024-09-01 65 days 1,751 sqft
2024-10-01 69 days 1,743 sqft
2024-11-01 71 days 1,740 sqft
2024-12-01 75 days 1,721 sqft
2025-01-01 73 days 1,714 sqft
2025-02-01 67 days 1,700 sqft
2025-03-01 0 days 1,706 sqft
Palm Bay's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

Palm Bay's median square footage for active listings during the 2025-03-01 period was 1,706 sqft. One year prior, the average listing was 1,772 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).