West Palm Beach FHA Loans

WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, 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.

West Palm Beach's 240 lenders originated 6,415 FHA loans during 2021. The total origination value was $1,814,445,000, with an average FHA loan value of $282,844.

West Palm Beach FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in West Palm Beach averaged 4.82% for the week of 2022-03-25, compared to the national average (all FHA variants) of 4.648% for the same period.

The average rate for the prior week (2022-03-18) was 4.54% and one month ago for the week of 2022-02-18, the average rate was 3.97%.

The average rate one year ago was 3.3%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.19%.

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

West Palm Beach FHA Loan Lenders by Rates & Fees

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CROSSCOUNTRY MORTGAGE, LLC 521 3.11% $10,817
UNITED WHOLESALE MORTGAGE, LLC 392 2.74% $9,908
QUICKEN LOANS, LLC 371 2.71% $7,499
FREEDOM MORTGAGE CORPORATION 292 2.83% $7,483
CALIBER HOME LOANS, INC. 291 2.89% $9,320
Paramount Residential Mortgage Group, Inc. 211 3.32% $11,833
AMERICAN FINANCIAL NETWORK, INC. 170 3.05% $16,975
LAKEVIEW LOAN SERVICING, LLC 170 3.07% $5,637
PENNYMAC LOAN SERVICES, LLC 148 3.04% $6,409
LOANDEPOT.COM, LLC 144 2.98% $11,461
NEWREZ LLC 130 2.93% $8,326
Mr. Cooper ( Nationstar Mortgage ) 121 3.26% $5,391
Lakeview Community Capital, LLC 119 3.03% $5,633
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 112 3.06% $10,775
ABSOLUTE HOME MORTGAGE CORPORATION 103 3.08% $10,020
Flagstar Bank, FSB 96 2.91% $9,312
EAGLE HOME MORTGAGE, LLC 95 3.24% $9,904
NP, Inc. 86 2.96% $10,746
FBC MORTGAGE, LLC 76 2.98% $11,276
HAMILTON HOME LOANS, INC. 75 3.17% $10,727
HOME POINT FINANCIAL CORPORATION 71 2.77% $10,510
Equity Prime Mortgage LLC 71 3.12% $9,584
DHI MORTGAGE COMPANY, LTD. 67 2.78% $9,844
PRIMARY RESIDENTIAL MORTGAGE, INC. 59 3.46% $12,334
Carrington Mortgage Services, LLC 57 3.38% $11,995
GUARANTEED RATE, INC. 51 2.90% $10,308
THE MORTGAGE FIRM, INC. 45 3.08% $10,289
AmeriHome Mortgage Company, LLC 43 2.94% $5,188
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 42 3.07% $10,653
BAY EQUITY LLC 42 3.13% $13,243
InterContinental Capital Group, Inc 39 2.93% $9,496
VILLAGE CAPITAL & INVESTMENT LLC 38 2.93% $3,875
CMG MORTGAGE, INC. 35 3.26% $11,552
Hometown Equity Mortgage, LLC 35 3.15% $11,289
SWBC MORTGAGE CORPORATION 33 3.27% $9,012
GROUP ONE MORTGAGE, INC. 30 2.68% $9,343
PLANET HOME LENDING, LLC 29 2.77% $6,610
VAN DYK MORTGAGE CORPORATION 29 3.10% $8,915
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 29 2.89% $10,254
AMCAP MORTGAGE, LTD. 28 3.26% $12,043
SUCCESS MORTGAGE PARTNERS, INC. 28 3.19% $10,344
First Guaranty Mortgage Corporation 26 2.91% $8,496
BROKER SOLUTIONS, INC. 26 2.98% $10,341
AMERICAN PACIFIC MORTGAGE CORPORATION 24 3.08% $10,596
HOMEBRIDGE FINANCIAL SERVICES, INC. 23 2.83% $8,923
EVERETT FINANCIAL, INC. 22 3.88% $8,395
Commerce Home Mortgage, Inc. 19 3.24% $10,682
FOUNDATION MORTGAGE CORPORATION 19 3.15% $8,332
Northpointe Bank 16 2.97% $9,203
AMERISAVE MORTGAGE CORPORATION 15 3.14% $8,332
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 15 3.47% $11,440
PLAZA HOME MORTGAGE, INC. 14 2.91% $11,413
Mortgage Lenders Investment Trading Corporation 14 3.61% $7,412
ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 3.19% $10,900
MOVEMENT MORTGAGE, LLC 13 3.34% $10,824
J. VIRGIL, INC. 13 2.92% $8,978
CELEBRITY HOME LOANS, LLC 12 2.91% $9,806
UNITED MORTGAGE CORP. 12 2.93% $11,740
FINANCE OF AMERICA MORTGAGE LLC 12 2.61% $10,475
Citizens Bank 11 2.95% $11,150
AmRes Corporation 11 2.85% $9,516
COLUMBUS CAPITAL LENDING, LLC 11 3.15% $12,618
MATTAMY HOME FUNDING, LLC 11 2.76% $12,186
UNION HOME MORTGAGE CORP. 10 3.06% $11,488
CORNERSTONE HOME LENDING, INC. 10 3.10% $11,338
Nations Lending Corporation 9 3.06% $12,149
MICHIGAN MUTUAL, INC. 9 3.18% $11,603
HOMESIDE FINANCIAL, LLC 9 2.83% $11,788
LAND HOME FINANCIAL SERVICES, INC. 9 3.63% $12,770
RESIDENTIAL HOME FUNDING CORP. 9 3.56% $12,025
Plains Commerce Bank 9 2.85% $9,095
NATIONS DIRECT MORTGAGE, LLC 9 3.35% $10,863
Advisors Mortgage Group, L.L.C. 9 2.86% $11,100
OCMBC, INC. 8 2.83% $9,182
SUN WEST MORTGAGE COMPANY, INC. 8 2.66% $10,499
BANKERS MORTGAGE LENDING, INC. 8 3.08% $9,734
STEARNS LENDING, LLC 8 3.00% $11,429
PULTE MORTGAGE LLC 8 3.20% $8,099
LEADERONE FINANCIAL CORPORATION 8 3.02% $8,425
GUARANTEED RATE AFFINITY, LLC 7 2.75% $9,838
CAPITAL PARTNERS MORTGAGE, LLC 7 3.45% $10,195
ACADEMY MORTGAGE CORPORATION 7 3.23% $10,126
Bank of America 7 3.02% $6,004
Synovus Bank 7 3.16% $10,006
NATIONWIDE MORTGAGE BANKERS, INC. 7 3.16% $11,218
US MORTGAGE CORPORATION 7 3.04% $10,291
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 7 3.11% $9,854
HOME FINANCING CENTER, INC. 7 3.23% $13,093
RESIDENTIAL BANCORP. 6 3.13% $9,116
The Federal Savings Bank 6 2.88% $12,417
Waterstone Mortgage Corporation 6 3.33% $11,853
FIRST EQUITY MORTGAGE BANKERS, INC. 6 2.98% $9,043
A&D Mortgage LLC 6 3.25% $10,352
Bank of England 6 3.81% $12,466
Hometown Lenders, Inc. 5 3.23% $11,056
JPMorgan Chase Bank 5 3.15% $7,107
TOTAL MORTGAGE SERVICES, LLC 5 3.55% $11,199
NATIONS RELIABLE LENDING, LLC 5 3.60% $11,014
RELIANCE FIRST CAPITAL, LLC 5 2.83% $12,751
GUILD MORTGAGE COMPANY 5 3.18% $9,292
CHURCHILL MORTGAGE CORPORATION 5 3.00% $11,010
PNC Bank 5 2.73% $7,531
FIRST ALLIANCE HOME MORTGAGE, LLC 5 3.03% $9,732
Colonial Savings, F.A. 5 3.28% $7,870
ENVOY MORTGAGE, LTD 4 3.03% $10,071
Christensen Financial, Inc. 4 3.53% $11,757
KELLER MORTGAGE, LLC 4 2.53% $9,960
First Savings Bank 4 3.38% $13,460
BANKING MORTGAGE SERVICES, B.M.S. CORP. 4 2.97% $9,815
DAS Acquisition Company, LLC 4 3.22% $8,365
HighTechLending Inc 4 3.22% $10,986
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 4 3.13% $13,440
MID AMERICA MORTGAGE, INC. 4 3.25% $11,377
BETTER MORTGAGE CORPORATION 4 2.66% $9,772
TOWNE MORTGAGE COMPANY 4 3.25% $9,894
Truist Bank 4 3.13% $8,828
Financial Freedom Mortgage, LLC 4 2.97% $10,457
Evolve Bank & Trust 4 3.13% $10,604
OCEANSIDE MORTGAGE COMPANY 4 2.50% $3,599
First Option Mortgage, LLC 3 2.92% $8,304
1ST FINANCIAL, INC. 3 3.38% $14,010
ALLIED MORTGAGE GROUP, INC. 3 2.83% $10,605
Barrington Bank & Trust Company, N.A. 3 3.13% $7,868
BAYSHORE MORTGAGE FUNDING, LLC 3 3.13% $10,773
BECKAM FUNDING CORP. 3 3.04% $9,804
Blue Ridge Bank 3 3.00% $10,489
EMBRACE HOME LOANS, INC. 3 3.16% $9,885
EMM LOANS LLC 3 3.25% $9,195
First Federal Bank 3 3.13% $11,189
First Home Bank 3 3.17% $10,687
GREAT WESTERN FINANCIAL SERVICES, INC. 3 2.83% $10,913
GREENTREE MORTGAGE COMPANY, L.P. 3 2.96% $9,481
HANCOCK MORTGAGE PARTNERS, LLC 3 3.46% $13,507
Ixonia Bank 3 3.46% $9,780
LENDUS, LLC 3 3.58% $13,481
Magnolia Bank 3 2.79% $12,876
MILEND, INC. 3 3.00% $11,389
MORIA DEVELOPMENT, INC. 3 3.75% $7,752
MUTUAL OF OMAHA MORTGAGE, INC. 3 2.96% $9,020
NFM, INC. 3 3.00% $10,635
North American Savings Bank, F.S.B. 3 2.58% $8,779
OPEN MORTGAGE, LLC 3 2.67% $14,470
Prosperity Home Mortgage, LLC 3 3.46% $12,425
ROUNDPOINT MORTGAGE SERVICING CORPORATION 3 3.17% $11,000
South State Bank 3 2.71% $9,336
TOP FLITE FINANCIAL, INC. 3 3.25% $20,086
Valley National Bank 3 2.75% $9,827
PANORAMA MORTGAGE GROUP, LLC 2 2.81% $9,793
Paramount Bank 2 3.06% $8,812
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 3.69% $14,482
Sierra Pacific Mortgage Company, Inc. 2 3.25% $8,883
Amerifirst Financial, Inc. 2 3.25% $7,751
Wells Fargo Bank 2 3.19% $7,296
TruHome Solutions, LLC 2 3.25% $7,052
SOVEREIGN LENDING GROUP INCORPORATED 2 2.31% $9,233
SPACE COAST Credit Union 2 2.88% $8,672
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.69% $9,030
STOCKTON MORTGAGE CORPORATION 2 2.75% $7,671
MORTGAGE EQUITY PARTNERS LLC 2 3.38% $13,178
Colten Mortgage, LLC 2 2.63% $5,021
AMERICAN FINANCING CORPORATION 2 3.31% $7,490
East Coast Capital Corp. 2 2.69% $10,260
READY MORTGAGE LENDERS, LLC 2 3.19% $14,002
Platinum Home Mortgage Corporation 2 3.25% $19,472
Manufacturers and Traders Trust Company 2 2.88% $10,142
T2 FINANCIAL LLC 2 3.38% $11,225
FIDELITY FUNDING MORTGAGE CORP. 2 3.00% $8,326
CONTOUR MORTGAGE CORPORATION 2 3.38% $10,559
VERITAS FUNDING, LLC 2 2.31% $14,156
FAIRWAY FUNDING GROUP, INC. 1 2.88% $9,036
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.50% $11,602
DREW MORTGAGE ASSOCIATES, INC. 1 3.13% $13,036
POLARIS HOME FUNDING CORP. 1 3.13% $10,427
Poli Mortgage Group, Inc. 1 2.38% $10,352
PREFERRED LENDING SERVICES, LLC 1 3.75% $9,867
PREMIA MORTGAGE, LLC 1 2.63% $9,662
COMPASS MORTGAGE, INC. 1 3.25% $8,722
Watermark Capital, Inc. 1 2.38% $7,495
CLIFFCO, INC. 1 2.88% $8,484
RADIUS FINANCIAL GROUP INC. 1 2.88% $13,042
Regions Bank 1 3.25% $7,574
CityWorth Mortgage LLC 1 2.88% $10,076
City National Bank of Florida 1 2.50% $8,012
Chickasaw Community Bank 1 2.50% $11,308
ACOPIA, LLC 1 3.25% $18,106
ROYAL UNITED MORTGAGE LLC 1 2.75% $11,136
RUOFF MORTGAGE COMPANY, INC. 1 3.38% $6,185
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 3.50% $9,724
Century Mortgage Company DBA Century Lending Company 1 3.13% $11,317
Strong Home Mortgage, LLC 1 3.38% $4,970
Centennial Bank 1 2.50% $10,691
Summit Mortgage Corporation 1 3.25% $10,665
CBM Mortgage, Inc. 1 2.50% $7,496
BEST CAPITAL FUNDING 1 2.38% $8,434
Atlantic Coast Mortgage, LLC 1 2.75% $7,773
TD Bank 1 2.75% $5,672
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.13% $22,001
The Home Loan Expert LLC 1 2.75% $10,395
THE MONEY HOUSE INC. 1 2.50% $11,634
ASSOCIATED MORTGAGE BANKERS, INC. 1 3.25% $16,348
The Union Bank Company 1 2.63% $19,718
Wyndham Capital Mortgage, Inc. 1 2.50% $8,467
ASPIRE FINANCIAL, INC. 1 2.25% $8,671
ARC HOME LLC 1 2.50% $5,498
APEX HOME LOANS, INC. 1 2.50% $8,243
ANGEL OAK HOME LOANS LLC 1 2.50% $11,855
LADERA LENDING, INC. 1 3.75% $9,696
Lend Smart Mortgage, LLC 1 2.38% $9,648
Ameris Bank 1 2.88% $11,366
LIBERTY HOME MORTGAGE CORPORATION 1 2.75% $7,577
JMAC LENDING, INC. 1 2.63% $9,101
LOANLEADERS OF AMERICA, INC. 1 2.75% $15,101
Loan Simple, Inc. 1 4.25% $7,085
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 2.75% $8,080
JET DIRECT FUNDING CORP 1 2.38% $12,043
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 3.88% $19,339
MEGASTAR FINANCIAL CORP. 1 2.25% $10,217
INTELLILOAN, INC. 1 3.25% $4,543
Meridian Bank Corporation 1 2.50% $8,843
INLANTA MORTGAGE, INC. 1 2.38% $7,283
MID-ISLAND MORTGAGE CORP. 1 3.00% $11,469
MLB RESIDENTIAL LENDING, LLC 1 3.25% $8,462
AMERICAN MORTGAGE SERVICE COMPANY 1 2.38% $9,260
HOME SOLUTION LENDERS INC. 1 2.88% $5,851
Mortgage Research Center, LLC 1 2.99% $11,321
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.38% $9,867
Home Mortgage Alliance Corp 1 3.13% $9,277
ZILLOW HOME LOANS, LLC 1 2.25% $12,227
GREENWAY MORTGAGE FUNDING CORP. 1 4.25% $12,290
GENEVA FINANCIAL, LLC 1 3.00% $9,071
Gateway First Bank 1 2.63% $13,603
F&M Bank 1 2.25% $7,812
FLAT BRANCH MORTGAGE, INC. 1 3.13% $10,751
NORTHERN MORTGAGE SERVICES, LLC 1 2.88% $11,094
1st Constitution Bank 1 2.38% $10,596
First Mortgage Solutions, LLC 1 2.49% $4,172
First Horizon Bank 1 3.13% $7,036
AHL FUNDING 1 3.25% $13,818
FAY SERVICING, LLC 1 3.13% $6,588
PARKSIDE LENDING, LLC 1 2.75% $16,215

The top West Palm Beach FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 521 FHA loans originated. Their average total fees are $10,817, which is $909 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee West Palm Beach FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($3,875), AmeriHome Mortgage Company, LLC ($5,188), Mr. Cooper ( Nationstar Mortgage ) ($5,391), Lakeview Community Capital, LLC ($5,633) and LAKEVIEW LOAN SERVICING, LLC ($5,637).

The lowest rate West Palm Beach FHA lenders (with over 10 loans originated) are FINANCE OF AMERICA MORTGAGE LLC (2.61%), GROUP ONE MORTGAGE, INC. (2.68%), QUICKEN LOANS, LLC (2.71%), UNITED WHOLESALE MORTGAGE, LLC (2.74%) and MATTAMY HOME FUNDING, LLC (2.76%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - West Palm Beach (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 $396,156 (4.3%) $918,614 (2.8%) 1.46 47,888
2018-02-01 $395,000 (3.4%) $918,452 (2.8%) 1.42 48,934
2018-03-01 $398,000 (2.3%) $919,255 (2.2%) 1.38 49,490
2018-04-01 $399,000 (2.3%) $919,912 (0.6%) 1.34 49,075
2018-05-01 $399,700 (1.2%) $916,176 (-0.2%) 1.33 48,034
2018-06-01 $399,999 (2.6%) $911,815 (0.5%) 1.33 47,153
2018-07-01 $399,900 (0.2%) $905,816 (0.6%) 1.33 46,869
2018-08-01 $399,250 (0.6%) $898,559 (0.0%) 1.33 46,483
2018-09-01 $399,000 (0.5%) $896,427 (-0.8%) 1.33 46,852
2018-10-01 $399,000 (1.0%) $903,016 (0.3%) 1.33 48,425
2018-11-01 $398,000 (0.3%) $908,836 (0.4%) 1.33 50,373
2018-12-01 $395,000 (0.0%) $917,567 (0.5%) 1.35 51,461
2019-01-01 $395,000 (-0.3%) $919,360 (0.1%) 1.36 52,278
2019-02-01 $395,000 (0.0%) $923,299 (0.5%) 1.32 54,082
2019-03-01 $398,285 (0.1%) $930,975 (1.3%) 1.30 53,304
2019-04-01 $400,000 (0.3%) $942,457 (2.5%) 1.26 51,880
2019-05-01 $409,500 (2.5%) $946,388 (3.3%) 1.26 50,393
2019-06-01 $410,000 (2.5%) $940,863 (3.2%) 1.26 48,676
2019-07-01 $410,000 (2.5%) $927,931 (2.4%) 1.27 47,062
2019-08-01 $406,996 (1.9%) $927,093 (3.2%) 1.28 45,954
2019-09-01 $402,199 (0.8%) $932,917 (4.1%) 1.28 45,034
2019-10-01 $409,950 (2.7%) $950,708 (5.3%) 1.31 45,856
2019-11-01 $411,648 (3.4%) $976,683 (7.5%) 1.33 46,837
2019-12-01 $411,328 (4.1%) $1,000,574 (9.1%) 1.37 46,952
2020-01-01 $411,000 (4.1%) $1,011,537 (10.0%) 1.37 45,959
2020-02-01 $415,000 (5.1%) $1,015,586 (10.0%) 1.34 46,345
2020-03-01 $417,420 (4.8%) $1,019,233 (9.5%) 1.30 46,202
2020-04-01 $399,450 (-0.1%) $971,050 (3.0%) 1.24 45,487
2020-05-01 $399,000 (-2.6%) $969,464 (2.4%) 1.21 44,864
2020-06-01 $402,500 (-1.8%) $987,712 (5.0%) 1.18 43,617
2020-07-01 $410,000 (0.0%) $1,007,234 (8.6%) 1.17 41,127
2020-08-01 $410,000 (0.7%) $1,012,514 (9.2%) 1.17 39,893
2020-09-01 $419,000 (4.2%) $1,041,235 (11.6%) 1.20 38,783
2020-10-01 $419,900 (2.4%) $1,053,210 (10.8%) 1.20 38,193
2020-11-01 $415,000 (0.8%) $1,047,388 (7.2%) 1.19 37,904
2020-12-01 $415,000 (0.9%) $1,058,106 (5.8%) 1.22 36,745
2021-01-01 $400,000 (-2.7%) $1,048,760 (3.7%) 1.18 34,030
2021-02-01 $399,000 (-3.9%) $1,063,442 (4.7%) 1.15 30,964
2021-03-01 $399,750 (-4.2%) $1,089,053 (6.9%) 1.12 27,219
2021-04-01 $417,450 (4.5%) $1,103,545 (13.6%) 1.12 24,319
2021-05-01 $430,000 (7.8%) $1,158,702 (19.5%) 1.13 21,962
2021-06-01 $449,750 (11.7%) $1,207,559 (22.3%) 1.17 20,816
2021-07-01 $458,950 (11.9%) $1,201,378 (19.3%) 1.19 21,067
2021-08-01 $462,450 (12.8%) $1,216,657 (20.2%) 1.22 20,996
2021-09-01 $472,400 (12.7%) $1,250,256 (20.1%) 1.24 20,451
2021-10-01 $480,000 (14.3%) $1,301,294 (23.6%) 1.26 19,637
2021-11-01 $487,000 (17.4%) $1,364,494 (30.3%) 1.28 18,469
2021-12-01 $495,000 (19.3%) $1,400,791 (32.4%) 1.32 17,232
2022-01-01 $499,000 (24.8%) $1,460,755 (39.3%) 1.33 15,526
West Palm Beach's median listing price for 2022-01-01 was $499,000, a difference of $99,000 (24.8%) versus the prior year and $4,000 versus the prior month.

West Palm Beach's median listing price comes in at 133% of the national average.

West Palm Beach's average listing price for 2022-01-01 was $1,460,755, a difference of $411,995 (39.3%) versus the prior year and $59,964 versus the prior month.

For the 2022-01-01 period, West Palm Beach had 15,526 MLS listings, a difference of -1,706 listings (-10%) versus the prior month and -18,504 listings (-54%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - West Palm Beach (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 90 days 1,508 sqft
2018-02-01 88 days 1,510 sqft
2018-03-01 82 days 1,511 sqft
2018-04-01 83 days 1,520 sqft
2018-05-01 86 days 1,521 sqft
2018-06-01 89 days 1,529 sqft
2018-07-01 92 days 1,529 sqft
2018-08-01 93 days 1,526 sqft
2018-09-01 93 days 1,522 sqft
2018-10-01 89 days 1,520 sqft
2018-11-01 87 days 1,524 sqft
2018-12-01 88 days 1,522 sqft
2019-01-01 93 days 1,520 sqft
2019-02-01 92 days 1,523 sqft
2019-03-01 87 days 1,531 sqft
2019-04-01 85 days 1,543 sqft
2019-05-01 90 days 1,549 sqft
2019-06-01 93 days 1,550 sqft
2019-07-01 96 days 1,548 sqft
2019-08-01 98 days 1,541 sqft
2019-09-01 99 days 1,532 sqft
2019-10-01 94 days 1,530 sqft
2019-11-01 91 days 1,530 sqft
2019-12-01 88 days 1,522 sqft
2020-01-01 92 days 1,520 sqft
2020-02-01 89 days 1,508 sqft
2020-03-01 84 days 1,504 sqft
2020-04-01 90 days 1,485 sqft
2020-05-01 103 days 1,477 sqft
2020-06-01 113 days 1,457 sqft
2020-07-01 118 days 1,426 sqft
2020-08-01 92 days 1,409 sqft
2020-09-01 92 days 1,389 sqft
2020-10-01 91 days 1,385 sqft
2020-11-01 91 days 1,380 sqft
2020-12-01 91 days 1,368 sqft
2021-01-01 94 days 1,345 sqft
2021-02-01 88 days 1,306 sqft
2021-03-01 76 days 1,296 sqft
2021-04-01 71 days 1,304 sqft
2021-05-01 65 days 1,318 sqft
2021-06-01 60 days 1,348 sqft
2021-07-01 58 days 1,369 sqft
2021-08-01 58 days 1,373 sqft
2021-09-01 59 days 1,377 sqft
2021-10-01 59 days 1,383 sqft
2021-11-01 59 days 1,383 sqft
2021-12-01 60 days 1,376 sqft
2022-01-01 65 days 1,366 sqft
West Palm Beach's median listing age (time on market) for 2022-01-01 was 65 days. This is -31% shorter than the same period one year ago.

West Palm Beach's median square footage for active listings during the 2022-01-01 period was 1,366 sqft. One year prior, the average listing was 1,345 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).