Palm Bay FHA Loan Rates, Closing Costs & Stats

PALM BAY-MELBOURNE-TITUSVILLE, FL

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    • 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 6.59% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

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

    The average rate for the prior week (2025-05-16) was 6.42% and one month ago for the week of 2025-04-18, the average rate was 6.34%.

    The average rate one year ago was 6.92%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.5%.

    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%) 0.91 4,431
    2025-04-01 $389,825 (-1.3%) $509,599 (-1.8%) 0.90 4,562
    Palm Bay's median listing price for 2025-04-01 was $389,825, a difference of $-5,175 (-1.3%) versus the prior year and $4,825 versus the prior month.

    Palm Bay's median listing price comes in at 90% of the national average.

    Palm Bay's average listing price for 2025-04-01 was $509,599, a difference of $-9,395 (-1.8%) versus the prior year and $4,987 versus the prior month.

    For the 2025-04-01 period, Palm Bay had 4,562 MLS listings, a difference of 131 listings (3%) versus the prior month and 994 listings (28%) 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 59 days 1,706 sqft
    2025-04-01 61 days 1,724 sqft
    Palm Bay's median listing age (time on market) for 2025-04-01 was 61 days. This is 17% longer than the same period one year ago.

    Palm Bay's median square footage for active listings during the 2025-04-01 period was 1,724 sqft. One year prior, the average listing was 1,780 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).