Mortgage Broker in Palm Springs, Florida

Short answer

In Palm Springs, Florida, the median house sold for $470,000 and the median condo for $115,000 in Q3 2026, so most purchases fit an FHA or conventional loan well under the $667,000 FHA limit. This page covers the Village of Palm Springs in Palm Beach County, not Palm Springs, California. QMS Lending is an independent, bilingual mortgage broker that compares these loans across 100+ lenders.

What homes cost in Palm Springs, FL

Palm Springs closed 13 single-family sales in Q3 2026 at a median of $470,000, up 1.1% from a year earlier, and 32 townhouse and condo sales at a median of $115,000, down 58.2%, per Florida Realtors data published by MIAMI REALTORS on October 16, 2026 (as of November 2026).

Houses are a financed market: only 1 of 13 buyers paid cash. They went under contract in a median 32 days at 95.6% of original list, with 30 listed and 4.4 months of supply, which is fairly tight.

Condos are the opposite. Half of the 32 buyers paid cash, the median time to contract was 78 days, sellers got only 89.2% of original list price, and 92 units were for sale at quarter end, 8.1 months of supply. The average condo price was $161,337. A median that falls 58% in a year usually reflects which units sold, not a crash in every building, but it does show how much buyers are discounting older condos right now.

Palm Springs is a village of 26,890 people (2020 census), up from 18,928 in 2010, and has more than doubled its land area through annexation since 1998 to about 4.25 square miles. It sits west of I-95 between Forest Hill Boulevard and Lake Worth Road, bordered by West Palm Beach, Lake Clarke Shores, Lake Worth Beach and Greenacres, with ZIP codes 33406, 33415 and 33461. About 60% of residents are Hispanic or Latino, making it the only Hispanic-majority municipality in Palm Beach County.

Financing a house in Palm Springs

The 2026 FHA limit for a one-unit home in Palm Beach County is $667,000 and the conforming limit is $832,750 (as of November 2026). At the $470,000 median house price:

• FHA loan: 3.5% down is $16,450, for a base loan of $453,550. The 1.75% upfront premium adds about $7,937, usually financed, and most 30-year loans this size carry a 0.55% annual premium, per HUD.
• Conventional loan: 5% down is $23,500, with private mortgage insurance until you reach 20% equity. With 20% down ($94,000), the loan is $376,000 and there is no mortgage insurance.
• Florida loan taxes: on the $453,550 FHA base loan, documentary stamps ($0.35 per $100) are about $1,588 and the 2-mill intangible tax is about $907.

With 1 cash buyer out of 13, sellers here are used to financed offers, but houses moved in about a month. Have a pre-approval in hand before you tour. Rates vary daily; call for today's pricing.

Low-priced condos: what lenders check

A $115,000 condo needs very little down, about $4,025 at 3.5% on an FHA loan, but the hard part is the building, not the down payment. Lenders review the association with a condo questionnaire: budget, reserves, insurance, delinquencies and litigation. FHA also needs the project approved or a single-unit approval.

Florida's condo safety laws add pressure on older buildings. Buildings three stories or taller need milestone inspections (F.S. 553.899) and a structural integrity reserve study (F.S. 718.112), and funding those reserves can mean higher dues or a special assessment. A big discount off list price, like the 89.2% median here, often reflects exactly those costs.

Before you offer, ask for the budget, the reserve study, recent board minutes and any assessment notices. If the building cannot meet conventional or FHA rules, a non-warrantable condo loan may still work, usually with a larger down payment, subject to credit approval. See our Florida condo loan guide.

Palm Springs property taxes

Palm Springs levies 3.5000 mills for operations plus 0.1922 for debt service in 2025; for 2026 it proposed the same operating rate and a lower 0.1746 debt rate. Its tax districts carry the county Fire Rescue MSTU (3.4581) but no county library levy.

The Palm Beach County Property Appraiser lists a 2025 total of 19.4083 mills for the village, about 1.94% of taxable value (as of November 2026), including the county (4.5000 plus 0.0330 debt), the school board (3.0730 plus 3.2480), Children's Services (0.4908), the Health Care District (0.6561), South Florida Water Management District levies and FIND.

• $470,000 house: about $9,122 a year before the homestead exemption.
• $115,000 condo: about $2,232 a year before exemptions.

Non-ad valorem assessments are extra, and the Save Our Homes cap on the seller's bill resets when you buy.

Flood zones and insurance

Palm Springs is inland, but flood zones are mapped parcel by parcel, and Palm Beach County's FEMA maps were updated recently. Check the exact address on the FEMA Flood Map Service Center. If the home is in a Special Flood Hazard Area, the lender requires flood insurance and the premium counts in your debt-to-income ratio.

The good news: Palm Springs is a Class 6 community in FEMA's Community Rating System, which Palm Beach County lists as a 20% discount on flood premiums in Special Flood Hazard Areas (as of November 2026), better than Greenacres (Class 9) or Lake Clarke Shores (Class 8).

For older houses, insurers often ask for a 4-point inspection, and a wind mitigation report can lower the windstorm premium. Get quotes before you lock so the payment holds. Read what a flood zone means for your loan.

Down payment help and options for Spanish-speaking buyers

We did not find a village-run purchase assistance program, so Palm Springs buyers use county and state help (as of November 2026):

• Palm Beach County SHIP: up to $100,000, 0% and forgiven after 30 years, for first-time buyers up to 140% of area median income, on homes up to $568,557. The last window filled its application limit; watch for the next (561-233-3600).
• Palm Beach County Homebuyer Match: up to $50,000 matched to your own cash (minimum $10,000), homes up to $700,000, by lottery. Phase I closed April 20, 2026.
• Housing Finance Authority of Palm Beach County: 0% soft second up to $17,500 with a 30-year fixed first mortgage for first-time buyers.
• Florida Hometown Heroes: $10,000 to $35,000 (up to 5% of the loan) for eligible first-time buyers in health care, schools, public safety and similar jobs. See our Hometown Heroes guide.

Because most residents here are Hispanic, many of our Palm Springs conversations happen in Spanish, from start to closing. Buyers who file taxes with an ITIN can ask about ITIN loans, and self-employed buyers can use bank statement loans, subject to credit approval. More at Florida down payment assistance programs.

Working with QMS Lending in Palm Springs, FL

We compare your purchase or refinance across 100+ lenders and show the options side by side, including how a condo building review or flood zone changes the payment. Investors buying rentals can look at DSCR loans, which are business-purpose loans, and owners can tap equity with a HELOC.

QMS Lending is an independent mortgage broker in Miami, FL, founded in 2018, with access to 100+ lenders and a 4.9-star rating from 200+ Google reviews. Our office is at 3105 NW 107th Ave Ste 400-O6, Doral, FL 33172. Company NMLS #1781090; Michael Fernandez, President, NMLS #1491775. Call 305-425-1990 or contact us. All loans are subject to credit approval. Equal Housing Opportunity.

Down payment help for Palm Springs buyers

• Palm Beach County SHIP Purchase Assistance Up to $100,000 as a 0% loan deferred 30 years and then forgiven; first-time buyers up to 140% AMI ($114,660 for one person, $163,660 for four); max price $568,557. The last window (May 2025) hit its application limit. 561-233-3600. ↗
• Palm Beach County Homebuyer Match Pilot Matches the buyer's own cash dollar for dollar up to $50,000 (you put in at least $10,000); max price $700,000; 80% to 140% AMI; lottery for 60 applications. Phase I pre-applications ran March 30 to April 20, 2026 and are closed. ↗
• Housing Finance Authority of Palm Beach County 30-year fixed first mortgage through participating lenders plus a 0% soft second up to $17,500 for first-time buyers, repaid on sale, refinance or at 30 years; a grant version has no first-time rule. Income and price limits apply. ↗
• Florida Hometown Heroes Up to 5% of the first mortgage ($10,000 to $35,000) as a 0%, 30-year deferred second mortgage, not forgivable; first-time, income-qualified buyers who work full time for a Florida employer in eligible jobs, plus military and veterans. Confirm funding first. ↗

Nearby cities

Lake Worth BeachGreenacresWest Palm BeachLantanaRoyal Palm BeachWellington