FHA Loans in West Palm Beach, FL: Limits, Condos and Real Monthly Cost

Short answer

Yes. The 2026 FHA loan limit for a one-unit home in Palm Beach County is $667,000, and the median West Palm Beach house sold for $651,000 in Q2 2026, so with 3.5% down the median house fits under the limit, which is rare among big South Florida cities. Condos are cheaper (median $364,500) but only work in FHA-approved buildings or units that pass single-unit approval. Figures are as of October 2026; every loan is subject to credit approval.

The 2026 FHA limit vs. West Palm Beach prices

FHA's credit, debt-to-income and mortgage insurance rules are the same across Florida and are in our Florida FHA requirements guide. In short: FHA is for a home you will live in, a 580+ score allows maximum financing (3.5% down on a purchase), and scores from 500 to 579 cap the loan at 90% of value. What is local is how West Palm Beach prices line up with the limit.

As of October 2026, HUD's 2026 limits for Palm Beach County (part of the Miami-Fort Lauderdale-West Palm Beach area) are $667,000 for one unit, $853,900 for two, $1,032,150 for three and $1,282,700 for four. The limit caps the base loan, not the price.

• Highest price with the minimum 3.5% down: about $691,190 ($667,000 ÷ 0.965).
• City median house, $651,000 (Q2 2026, 311 sales, up 1.7% year over year): 3.5% down is $22,785 for a base loan of $628,215, about $38,800 under the limit.
• City median townhouse or condo, $364,500 (247 sales): far under the limit, so the building, not the limit, is the constraint.
• Palm Beach County medians: $675,000 for houses and $335,000 for condos.

Prices move fast at the median: the same city report showed a $750,000 median house in Q1 2026 on 232 sales. A house priced above about $691,000 needs more than 3.5% down to stay at the FHA limit; above that, compare a conventional loan, whose 2026 one-unit limit is $832,750. Our FHA vs. conventional page walks through the trade-off.

Duplexes and small buildings: FHA's higher limits

West Palm Beach's older neighborhoods have a real stock of duplexes, triplexes and small apartment buildings. FHA lets an owner-occupant buy a 2-to-4 unit property with the same 3.5% minimum down, using the higher limits:

• Two units: up to $853,900 base loan, so a price up to about $884,870 with 3.5% down.
• Three units: up to $1,032,150, about $1,069,590 with 3.5% down.
• Four units: up to $1,282,700, about $1,329,220 with 3.5% down.

You must live in one unit as your primary residence. Lenders may count part of the expected rent from the other units toward qualifying, under FHA and lender rules. Older buildings also need to pass the FHA appraisal's safety and condition review, and on a 1920s-to-1950s building a 4-point and wind mitigation report drive the insurance price. If the building needs heavy work, an FHA 203(k) loan can finance repairs with the purchase.

FHA condo approval in West Palm Beach

About 59% of West Palm Beach condo and townhouse sales in Q2 2026 (146 of 247) were cash, and condos took a median of 84 days to go under contract with 8.4 months of supply. In that market, a building that accepts FHA gives an FHA buyer room to negotiate; one that does not takes FHA off the table. Check the building in HUD's FHA approved condominium lookup before you make an offer; it shows whether a project is approved, expired, rejected or withdrawn.

If the project is not on the list, the unit may still qualify through single-unit approval, under HUD's condo rule in effect since October 15, 2019:

• The project is complete and ready to occupy, has at least five units, and is not manufactured housing.
• In projects of 10 or more units, no more than 10% of units can carry FHA insurance; smaller projects are capped at two FHA units.
• The project still must pass owner-occupancy and financial condition tests; approved projects generally need at least 50% owner occupancy.
• Approved projects recertify every three years, and nonresidential space in an approved project cannot exceed 35% of the floor area.

West Palm Beach adds two Florida-specific checks. Under Statute 553.899, condo buildings three habitable stories or taller need a milestone inspection by December 31 of the year they turn 30, then every 10 years, and associations must have a SIRS. Many of the city's 1970s and 1980s mid-rises are in that window, and open repairs or a large special assessment can stall approval. If FHA is out, see non-warrantable condo financing or condo loans in Florida.

Example only: MIP and the full payment on a $651,000 house

Example only, using the Q2 2026 city median house and FHA with 3.5% down, as of October 2026:

• Base loan: $628,215 after $22,785 down.
• Upfront MIP: 1.75% of the base loan, about $10,994, usually financed into the loan.
• Annual MIP: 0.55% for base loans of $726,200 or less with more than 95% loan-to-value, about $3,455 a year (roughly $288 a month), for the life of the loan. With 10% or more down, the annual rate is 0.50% and ends after 11 years. See what MIP is.
• Property taxes: the 2026 proposed millage for a West Palm Beach address outside the Downtown Development Authority district adds up to about 20.4 mills (city 8.1308 operating plus 0.0533 debt, county 4.5210, school board 6.2870, Children's Services 0.4908, Health Care District 0.6561, water management 0.2301, FIND 0.0270). On $651,000 that is about $13,280 a year before exemptions, or roughly $12,400 after the homestead exemption, about $1,034 a month. Downtown parcels add the DDA's 2.0000 mills.
• Insurance: homeowners plus flood where required. New FEMA flood maps took effect in Palm Beach County on December 20, 2024, and the city said more than 1,000 West Palm Beach properties were affected, so check the parcel's flood zone before you sign.

Principal and interest depend on the day's pricing; rates vary daily, so call for today's numbers. On this house, MIP, taxes and insurance can add well over $1,500 a month to principal and interest, which is why your pre-approval should be built on the full payment.

Getting FHA pre-approved for West Palm Beach with QMS

QMS Lending is an independent mortgage broker in Miami, FL, with 100+ lenders. FHA sets the floor, but each lender adds its own overlays on credit score, condo policy and manual underwriting, so matching the file to the right lender matters. For a West Palm Beach FHA purchase we:

• Price the full payment, including MIP, the city's millage and HOA dues.
• Check a condo on the HUD list, or the single-unit approval tests, before your offer.
• Look at a 2-to-4 unit option if you want rental income to help the payment.
• Check down payment help: see first-time buyer programs in West Palm Beach for the city and county options, which change by round.

Call 305-425-1990, in English or Spanish. QMS Lending, NMLS #1781090; Michael Fernandez, NMLS #1491775, President; 4.9 stars across 200+ Google reviews. Rates vary daily; call for today's pricing. Subject to credit approval. Equal Housing Opportunity.