Mortgage Loans in West Palm Beach, FL: FHA, Conventional, Investor and HomeTown Heroes
You can get a mortgage in West Palm Beach with William A. Ledesma, a Florida-licensed loan officer at Bold Mortgage, a division of PRMG. He works with buyers in West Palm Beach and across Florida by phone, video and e-sign, together with local agents. Your options include FHA, conventional, jumbo, investor and DSCR loans, plus Florida HomeTown Heroes help for eligible first-time buyers.
Buying a home in West Palm Beach: what to know
West Palm Beach is the county seat of Palm Beach County and its biggest downtown. It sits on the Lake Worth Lagoon, across the water from the Town of Palm Beach. Downtown centers on Clematis Street, the waterfront along Flagler Drive, and The Square, the shopping and office district once called CityPlace. The Kravis Center for the Performing Arts and the Norton Museum of Art are here, and the city has a Brightline station with trains to Miami and Orlando, plus Palm Beach International Airport.
The local economy runs on government, health care, tourism and a growing number of finance and business offices downtown. Big employers include Palm Beach County government and its school district, St. Mary's Medical Center and Good Samaritan Medical Center. Palm Beach Atlantic University is downtown.
West Palm Beach has many historic neighborhoods with homes from the 1920s to the 1950s. El Cid and Flamingo Park, just south of downtown, have Mediterranean Revival and Mission-style homes. Grandview Heights is a district of smaller older homes near downtown. Northwood, north of downtown, has historic homes and a small business district. South of Southern Boulevard, known as SoSo, has homes along and near the water. The city reviews exterior changes to homes in its historic districts.
Housing also includes new downtown condo towers, older mid-rise and garden condos, townhomes, and single-family homes and gated communities west of I-95. Buyers include downtown professionals, people relocating from the Northeast, families, retirees, and investors.
FHA loans in West Palm Beach
FHA lets you buy with 3.5% down and a 580+ credit score, or 10% down with a score from 500 to 579. Lender overlays may apply. The 2026 FHA limit for a one-unit home in Palm Beach County is $667,000, and limits are higher for 2 to 4 unit properties.
FHA has an upfront mortgage insurance premium, usually added to the loan, plus a monthly premium. With less than 10% down, the monthly premium lasts for the life of the loan.
In West Palm Beach, FHA fits starter homes in older neighborhoods, townhomes and some condos. A condo must be in an FHA-approved project or qualify for single-unit approval. Historic and older homes must meet FHA property standards, so lead paint on pre-1978 homes, old wiring or roof issues can need repair before closing. FHA also allows 2 to 4 unit buildings if you live in one unit, and the city has older duplexes and small multifamily buildings.
Conventional loans in West Palm Beach
Conventional loans allow 3% down for qualifying first-time buyers and 5% for others. With less than 20% down you pay PMI, which you can remove as your equity grows. The 2026 conforming limit in Palm Beach County is $832,750 for one unit. Jumbo loans cover larger amounts.
Restored homes in El Cid, Flamingo Park and the waterfront parts of the city, and many new downtown condos, can go above the conforming limit into jumbo. For condos, the lender reviews whether the building is "warrantable," including reserves, insurance, investor ownership and litigation. Conventional also covers second homes for part-time residents.
Investor and DSCR loans in West Palm Beach
DSCR loans qualify you on the property's rent instead of your income. Plan for 20 to 25% down. You can buy in an LLC, which suits self-employed and repeat investors. Conventional investment loans and bank statement loans are also available.
Rental demand comes from downtown office workers, hospital staff, Palm Beach Atlantic students, county and court workers, and seasonal residents in winter. Small multifamily buildings and duplexes in older neighborhoods are common investor targets. Many condos limit leasing, so read the rules first, and check city zoning and licensing rules before buying for short-term rental.
Florida HomeTown Heroes and down payment help in Palm Beach County
Florida HomeTown Heroes is a Florida Housing Finance Corporation program for first-time buyers, generally those who have not owned a primary residence in the past 3 years, who work full time for a Florida-based employer.
It provides 5% of your first mortgage, with a $10,000 minimum and $35,000 maximum, as a 0% interest second mortgage with no monthly payment. You repay it when you sell, refinance, transfer the deed, pay off the first mortgage, or stop living in the home. You need a 640 minimum credit score and homebuyer education, and Palm Beach County income limits apply.
Funding is released in rounds and can run out. William checks availability the day you are under contract, because a fully signed contract is needed to reserve funds. Learn more at Florida Housing.
Palm Beach County also gets SHIP (State Housing Initiatives Partnership) funds for local down payment help through the Palm Beach County housing office. Ask whether the City of West Palm Beach has its own buyer program open too.
Insurance, flood and condo rules that affect your loan in West Palm Beach
Hurricane wind coverage is part of every policy here. Older and historic homes usually need a 4-point inspection and a wind mitigation report, and insurers look hard at roof age, wiring and plumbing. Impact windows and a newer roof can lower the premium. Citizens Property Insurance is the state backstop when private carriers decline.
Homes along Flagler Drive, the Lake Worth Lagoon and low areas of the city can be in FEMA high-risk flood zones. If yours is, and the loan is federally backed, flood insurance is required.
Florida's post-Surfside laws matter a lot here because of the many condo buildings three stories and up. Those buildings need milestone inspections and structural integrity reserve studies, and some older associations have raised dues or passed special assessments. A building that is behind may not qualify for conventional or FHA financing. New construction condos have their own lender rules, such as how many units are sold and whether the project is finished, so check early.
Your action plan
- Book a clarity call. Book a call with William. No hard credit pull to start.
- Get pre-approved. Start your pre-approval and know your budget with insurance and HOA dues included.
- Pick the program. FHA, conventional, jumbo, 2 to 4 unit, DSCR or bank statement.
- Check HomeTown Heroes and local help. See if you qualify and which county or city funds are open.
- Shop with a local agent. Use an agent who knows the historic districts, downtown condo buildings and flood zones.
- Lock and close. Lock your rate, finish inspections and appraisal, and close.
West Palm Beach mortgage FAQs
Where can I get the best conventional loan rates in West Palm Beach?
Your rate depends on your credit, down payment, property type and loan amount. Compare Loan Estimates from a few lenders on the same day. Bold Mortgage offers multiple loan programs, and William gives you a side-by-side comparison so you can see the real cost.
How do I qualify for an FHA loan in West Palm Beach?
You generally need a 580 score for 3.5% down, steady income, and a primary residence within the 2026 Palm Beach County FHA limit of $667,000 for one unit. Condos must be FHA-approved or qualify on their own. Approval depends on your credit, income, assets and the property.
Where can I apply for investor or DSCR mortgage programs in West Palm Beach?
You can apply with William at Bold Mortgage. He reviews the rent, the property type and your down payment, and tells you whether DSCR, conventional investment or bank statement financing fits.
Can I use Florida HomeTown Heroes in West Palm Beach?
Yes, if you are a first-time buyer working full time for a Florida-based employer, you meet Palm Beach County income limits, and you have at least a 640 score. William checks funding once your contract is fully signed.
Can I buy a downtown West Palm Beach condo with FHA or conventional financing?
Often yes, but it depends on the building. The lender checks the association's reserves, insurance, inspection status and any special assessments. Brand new buildings may also need a certain share of units sold. If a building does not qualify, a non-warrantable condo loan with a larger down payment may still work.
About William A. Ledesma
William A. Ledesma is a Florida licensed mortgage loan officer and Florida HomeTown Heroes specialist with Bold Mortgage, a division of PRMG. He helps buyers, homeowners and investors in West Palm Beach and across Florida, in English and Spanish. Every client gets a clear action plan from pre-approval to closing.
- Call or text: (786) 387-3676
- Email: will@williamledesma.com
- Office: 4960 SW 72nd Ave, Suite 400, Miami, FL 33155
- Client reviews: Read reviews from William's clients
More Florida mortgage guides: Delray Beach, Boynton Beach, Jupiter, Port St. Lucie. Lea esta guía en español.
William A. Ledesma, NMLS #1232716. Bold Mortgage is a division of Paramount Residential Mortgage Group, Inc. (PRMG), NMLS #75243, Florida Mortgage Lender Servicer License MLD1608. Equal Housing Opportunity. This page is general information, not a commitment to lend. All loans are subject to credit approval, underwriting guidelines and property eligibility. Loan limits, program terms and down payment assistance funding can change without notice.
West Palm Beach
