Mortgage Broker in Palm Beach Shores, FL

Short answer

The median condo in the Town of Palm Beach Shores sold for $337,500 in Q3 2026, and all 4 condo buyers that quarter paid cash, so a financed offer here has to clear condo, flood and rental-rule reviews that cash buyers skip. QMS Lending is an independent mortgage broker in Miami, FL that matches Singer Island condos and homes to the 100+ lenders whose project and property rules fit, from conventional and jumbo to non-warrantable condo and DSCR loans.

What homes and condos cost in Palm Beach Shores

Palm Beach Shores is a small town on the southern tip of Singer Island, with the Atlantic on the east, Lake Worth Lagoon on the west and the Palm Beach Inlet to the south. The 2020 census counted 1,330 residents and 1,279 housing units, and 38.9% of those units were vacant on census day, a sign of how many are seasonal or second homes.

Condos and townhouses drive the market. In Q3 2026, 4 condo or townhouse sales closed at a median of $337,500, per Florida Realtors data published by MIAMI REALTORS (as of November 2026). The average was $1,509,250, which tells you the town mixes older, smaller units with large oceanfront ones. All 4 buyers paid cash. Sellers received 88.5% of original list price, the median unit took 66 days to go under contract, and 24 active listings meant 16.0 months of supply.

For comparison, the Palm Beach County condo median was $307,500, with 6.8 months of supply and 63 days to contract. Palm Beach Shores condos sit longer and sell further below list than the county.

Single-family homes are rare. Only 1 house sold in Q3 2026, for $2,850,000, paid in cash, with 4 active listings. One sale is not a trend; use it only as a sign that detached homes here are a jumbo market.

Condo financing: what lenders review first

Most loans here are condo loans, and the building gets underwritten along with you. Before you write an offer, ask the listing agent for the association's budget, reserve figures, insurance declarations and any recent special assessments. Your lender will send a condo questionnaire that asks the same questions.

• Milestone inspection: Florida law (F.S. 553.899) requires a milestone inspection for condo buildings of three habitable stories or more by December 31 of the year the building turns 30, then every 10 years. A local agency may move that to 25 years for buildings near salt water. Ask for the report. See milestone inspection.
• Reserves and SIRS: lenders look at whether the association funds reserves and has its structural integrity reserve study. Large repairs that are unfunded often become special assessments.
• Warrantable or not: if a building fails Fannie Mae or Freddie Mac project rules (for example, litigation, low reserves, or hotel-style rental operations), a conventional loan may not work. A non-warrantable condo loan or a condotel loan can fill that gap, usually with a larger down payment.
• FHA and VA: both require the project to be approved by the agency, or a single-unit approval where allowed. Ask early; many small beach buildings are not on the lists.

Short-term rental rules in Palm Beach Shores

Many buyers here want to rent the unit part of the year. The town has moved to regulate it. Ordinance O-1-24, on the Town Commission agenda for second reading on March 25, 2024, defines a transient rental as a unit rented more than three times a year for less than 30 days and requires an annual permit for each unit, renewed by September 30. The draft capped overnight guests at two per sleeping room (eight maximum), required a responsible party who can respond within 60 minutes, and required liability coverage of $1,000,000 per occurrence. Town staff counted about 168 short-term rentals at the time (as of November 2026; confirm the adopted version with Town Hall at 561-844-3457).

The county adds its own layer. Palm Beach County requires a short-term rental local business tax receipt, $33 for a full year, renewed by September 30, plus a Tourist Development Tax account with the Tax Collector.

Two points matter more than town rules for financing:

• Condo association rules can be stricter than the town and may ban rentals under 30 days, 90 days or longer. Read the declaration before you count rental income.
• Loan type follows use. A second home loan expects you to use the unit yourself; heavy short-term renting can make it an investment loan. If rental income is the plan, a DSCR loan qualifies on the unit's rent. DSCR loans are business-purpose loans, not for a home you live in.

Flood zones, insurance and the inlet

Palm Beach Shores sits on a barrier island between the ocean and the lagoon, and the town is in Palm Beach County's Category 2 hurricane evacuation zone. Palm Beach County's updated FEMA flood maps took effect December 20, 2024, and more than 16,000 parcels countywide saw base flood elevations rise one foot or more.

• Check the parcel, not the street. Use the FEMA Flood Map Service Center or call Town Hall at 561-844-3457 for a flood determination. If the building is in a special flood hazard area, your lender requires flood insurance.
• Condo flood coverage: the association's master flood policy covers the building; lenders check that it is adequate, and you may still want your own unit policy. See condo master policy.
• CRS discount: the town is a Class 7 community in FEMA's Community Rating System, worth a 15% discount on NFIP premiums in high-risk zones (as of April 1, 2024).
• Elevation certificate: for a single-family home, an elevation certificate helps price the policy. A wind mitigation inspection can lower windstorm premiums.

A flood policy takes effect 30 days after purchase, so order quotes the week you go under contract.

Loan options at Palm Beach Shores prices

• Conventional: at the Q3 2026 condo median of $337,500, 10% down is $33,750 and a $303,750 loan, well under the 2026 conforming limit of $832,750. Second homes and investment condos need more down than a primary home.
• FHA: the 2026 Palm Beach County FHA one-unit limit is $667,000, but the building must be FHA-approved.
• Jumbo: the one house that sold in Q3 2026 closed at $2,850,000. With 20% down ($570,000), the loan would be $2,280,000, far over the conforming limit. Oceanfront condos above about $1,040,000 with 20% down are jumbo too.
• Non-warrantable condo and condotel: for buildings that fail agency rules or run like a hotel.
• DSCR: for investors who qualify on rent. Business-purpose only.

All loans are subject to credit approval, appraisal and project review. Rates vary daily; call 305-425-1990 for today's pricing.

Property taxes and Amendment 3

The Palm Beach Shores district total was 19.5861 mills in 2025 (code 54401), per the Palm Beach County Property Appraiser. Using the 2026 proposed rates (town 6.8000 plus 0.4290 debt, county 4.5000 plus 0.0210 debt, library 0.5491, schools 3.2480 and 3.0390, Children's Services 0.4908, Health Care District 0.6561, SFWMD 0.2301 combined, FIND 0.0270) gives about 19.99 mills, close to 2% of taxable value (as of November 2026).

Example on a $337,500 condo: with no exemptions, about $6,747 a year. A full-time resident with homestead gets $25,000 off all taxes plus up to $25,722 more off non-school taxes (2025 figure), bringing it to about $5,894. File homestead with the Property Appraiser by March 1. Condo fees and any special assessment come on top.

Amendment 3 passed on November 3, 2026 (about 62%, unofficial until certified). The non-school homestead exemption rises to $150,000 in 2027 and $250,000 in 2028, and the cap on yearly assessment increases for non-homestead property drops from 10% to 5% starting January 1, 2027, for non-school taxes. School taxes do not change, and the first bills affected arrive in November 2027. On the same $337,500 condo at 2026 rates, the 2027 homestead bill would be roughly $4,534. Owners who become permanent Florida residents after December 31, 2026 start with a smaller exemption that reaches the full amount in their fifth year. Lenders escrow the current bill, so qualify on today's tax, not the future one. See homestead exemption.

County help and how QMS works

Down payment programs rarely fit here, because most buyers are second-home or cash buyers and condo prices sit near the caps. Palm Beach County's SHIP purchase program offers up to $100,000 with a $568,557 price cap, but its application limit has been reached (as of November 2026). Florida Hometown Heroes offers up to 5% of the first mortgage ($10,000 to $35,000) as a 0% deferred second mortgage for first-time, income-qualified buyers; the building still has to pass condo review.

QMS Lending is licensed in Florida (NMLS #1781090) and works in English and Spanish. We review the condo documents before you commit your deposit, then shop the loan across 100+ lenders. Call 305-425-1990.

Down payment help for Palm Beach Shores buyers

• Palm Beach Shores vacation rental permit (Ord. O-1-24) Annual permit for units rented over 3 times a year for under 30 days, renewed by Sept. 30. Confirm adopted terms with Town Hall, 561-844-3457. ↗
• Palm Beach County SHIP Purchase Assistance Up to $100,000; max price $568,557; income up to 140% AMI ($114,660 for 1, $163,660 for 4). Application limit reached as of November 2026. 561-233-3600. ↗
• Florida Hometown Heroes Up to 5% of the first mortgage ($10,000 to $35,000), 0% deferred 30-year second mortgage, not forgivable, for first-time, income-qualified buyers. ↗

Nearby cities

Riviera BeachPalm BeachNorth Palm BeachLake Park