Mortgage Broker in the Town of Palm Beach, FL

Short answer

The median single-family home in the Town of Palm Beach sold for $12,000,000 in Q3 2026 and the median condo for $1,600,000, so almost every financed purchase on the island is a jumbo loan. QMS Lending is an independent mortgage broker in Miami, FL that shops Palm Beach jumbo, second-home and asset-based financing across 100+ lenders.

Palm Beach home prices in Q3 2026

The Town of Palm Beach closed 21 single-family sales in Q3 2026 at a median of $12,000,000, up 26.7% from a year earlier, per Florida Realtors data published by MIAMI REALTORS (as of November 2026). The average house sale was $14,575,658 and total house volume was $306.1 million for the quarter.

Condos and townhouses are the more active market: 52 sales at a median of $1,600,000, down 18.8% year over year, with an average of $2,420,621. For scale, the Palm Beach County medians in the same reports were $655,000 for houses and $307,500 for condos.

• Cash share: 18 of 21 house buyers and 42 of 52 condo buyers paid cash.
• Time to contract: 115 days for houses, 119 days for condos.
• Price received: sellers got 85.7% of original list price on houses and 88.0% on condos.
• Supply: 84 active house listings (8.6 months) and 176 active condo listings (6.3 months).

Those numbers say the island is a negotiated market. Listings sit for months and close well under the first asking price. A financed buyer who arrives with documented assets and an underwritten approval can compete with cash offers on terms, not only on price.

Palm Beach is not West Palm Beach or Palm Beach Gardens

Three different cities share the name, and mixing them up changes the tax bill, the flood rules and the market data. This page covers only the Town of Palm Beach, incorporated in 1911, ZIP code 33480, on a barrier island about 18 miles long and in places only 500 feet wide. The 2020 census counted 9,245 residents, and the population swells to roughly 25,000 in the November to April season.

• West Palm Beach is a separate mainland city across the Lake Worth Lagoon, linked to the island by the Flagler Memorial, Royal Park and Southern Boulevard bridges. Its 2025 total millage was 20.4468 in its main tax district, versus 14.8690 for the Town of Palm Beach.
• Palm Beach Gardens is an inland city to the north with its own government and a 2025 total millage of 17.8608.
• Palm Beach Shores and North Palm Beach are also separate municipalities.

When you order an appraisal, a title search or a flood determination, check that the legal description and taxing district read "Palm Beach" (district codes beginning with 50 at the Palm Beach County Property Appraiser). A wrong city on the loan file can delay closing.

Almost every Palm Beach loan is a jumbo

The 2026 conforming loan limit is $832,750 for a one-unit home in Palm Beach County, and the FHA one-unit limit is $667,000 (as of November 2026). Both sit far below island prices, so conventional conforming and FHA loans rarely fit.

• Median condo, $1,600,000: with 20% down ($320,000) the loan is $1,280,000, about $447,000 over the conforming limit. That is a jumbo loan.
• Median house, $12,000,000: even a large down payment leaves a loan in the millions. Few lenders lend at that size, and each sets its own maximum loan, down payment and reserve rules.

Because jumbo guidelines are set lender by lender, the same file can get very different answers. A broker can send one complete package to several jumbo lenders at once and compare loan size limits, reserve requirements and pricing side by side. Rates vary daily; call 305-425-1990 for today's pricing.

Read our Florida jumbo loan guide for how jumbo underwriting works statewide, and what is a jumbo loan for the basics.

Seasonal owners, trusts and complex income

Many Palm Beach owners live here part of the year, hold wealth in investments rather than salary, or earn from businesses they own. Those profiles need the right loan structure, not a standard W-2 file:

• Second home: a seasonal home can be financed as a second home if it is for your own use and not a full-time rental. Lenders look at where your primary residence is and how far it is from the island.
• Asset-based qualifying: asset depletion lets some lenders count eligible investment and retirement balances as income when salary is low.
• Self-employed: bank statement loans or profit and loss loans use business deposits or a CPA-prepared P&L instead of tax returns.
• International buyers: a foreign national loan can work without a U.S. credit history, usually with a larger down payment.
• Trusts and LLCs: owner-occupied and second-home loans normally close in your personal name or an eligible revocable trust. An LLC purchase is a business-purpose loan, such as a DSCR loan for a rental, and short-term rental rules here are strict, so check town rules first.

Each of these is subject to credit approval and the lender's own guidelines.

Condos on the island: building review comes first

On a $1.6 million median condo, the building can decide the loan before your credit does. Jumbo condo lenders review the association much like Fannie Mae does for conforming loans. Fannie Mae's Selling Guide treats a project as ineligible if it needs critical repairs (including unfunded repairs over $10,000 per unit due within 12 months), if the association is a defendant in certain litigation, if one entity owns more than 20% of units in a 21+ unit project, or if commercial space tops 35% (as of November 2026).

Florida's condo safety laws add two reports. A milestone inspection is required for condo buildings three or more habitable stories tall by December 31 of the year they turn 30, then every 10 years, and the local building official may require it at 25 years for buildings near salt water (F.S. 553.899). A structural integrity reserve study is required every 10 years for the same buildings, and owner-controlled associations may not waive or reduce reserves for the covered items (F.S. 718.112).

Ask for the condo questionnaire, the latest milestone and SIRS summaries, the budget and any special assessment before you sign. If the building does not pass a standard review, a non-warrantable condo loan may still work.

Town of Palm Beach property taxes

Budget about 14.82 mills, roughly 1.48% of taxable value, using the 2026 proposed rates published by the Palm Beach County Property Appraiser (as of November 2026). The 2025 total for the town's tax districts was 14.8690 mills.

• Town of Palm Beach: 2.6110
• Palm Beach County: 4.5000 operating + 0.0210 debt
• School Board: 3.0390 state + 3.2480 local
• Health Care District 0.6561, Children's Services Council 0.4908, South Florida Water Management District 0.2301 combined, FIND 0.0270

The town's bill has no County Fire Rescue (3.4581) or Countywide Library (0.5491) line, which is a big reason it runs lower than mainland cities. On a property with $5,000,000 of taxable value and no exemptions, 14.82 mills is about $74,100 a year. A primary residence can get the homestead exemption and the Save Our Homes cap; a seasonal second home cannot.

The town council said in July 2026 it intended to keep its rate at $2.61 per $1,000 for 2026-27 on a proposed $137.2 million budget, with a 9% average rise in assessed values, a planned Midtown seawall estimated at $25 million or more, and street paving tied to the townwide conversion to underground utilities. Your lender escrows taxes based on the current bill, so expect an escrow shortage if values jump after purchase.

Flood zones, coastal rules and insurance

On a barrier island whose highest point is about 30 feet above sea level, flood rules matter for every loan. If a financed home sits in a FEMA Special Flood Hazard Area, the lender requires flood insurance. The Town of Palm Beach is a Community Rating System Class 6 community, so NFIP policyholders in the high-risk zone get a 20% discount (as of November 2026). NFIP residential coverage tops out at $250,000 for the building and $100,000 for contents, which is why most island homes also need private excess flood coverage.

• New NFIP policies normally have a 30-day waiting period, so bind coverage well before closing.
• Building work in a flood zone may need a separate Floodplain Development Permit from the town.
• If improvement costs reach 50% or more of the building's market value, the whole house must meet new-construction flood standards. Budget for that before you plan a large renovation with a construction loan.

Order an elevation certificate early; it drives the flood premium and can change your monthly payment more than a small difference in price. See what is a flood zone for how the zones work.

Closing costs and working with QMS Lending

Florida taxes on a Palm Beach jumbo add up fast. On the median condo with a $1,280,000 loan (as of November 2026):

• Doc stamps on the mortgage: $0.35 per $100 = $4,480 (F.S. 201.08).
• Intangible tax: 2 mills (0.2%) = $2,560.
• Deed stamps: $0.70 per $100 of price outside Miami-Dade, or $11,200 on $1,600,000; who pays them is set by the contract.

QMS Lending is an independent mortgage broker founded in 2018 (NMLS #1781090), led by President Michael Fernandez (NMLS #1491775), with access to 100+ lenders and a 4.9-star rating from 200+ Google reviews. We work in English and Spanish, by phone and online, so you can finance a Palm Beach home from wherever you spend the season. Call 305-425-1990 or start at our purchase or refinance page. All loans are subject to credit approval.

Nearby cities

West Palm BeachPalm Beach GardensLake Worth BeachRiviera BeachLantana