Bay County
Mortgages

2026 loan limits in Bay County

These are the 2026 limits for one-unit homes in Bay County, set by HUD (FHA) and FHFA (conforming). Two- to four-unit properties have higher limits. We confirm the current figures before every rate lock.

Buying a home in Bay County

Bay County was rebuilt after Hurricane Michael made landfall at Mexico Beach as a Category 5 storm in 2018, and much of Panama City's housing is now newer construction built to stronger codes. Tyndall Air Force Base, rebuilt after Michael, supports a steady VA market. Panama City Beach is one of the Panhandle's busiest vacation-rental markets for DSCR and second-home buyers.

Areas served in Bay County

We work with buyers and homeowners throughout Bay County, including Panama City, Panama City Beach, Lynn Haven, Callaway, Mexico Beach, and Southport.

Florida closing costs on a Bay County purchase

Example: a $560,000 purchase with an FHA loan of $540,400. The state taxes on that deal:

• Deed doc stamps: $0.70 per $100 of price = $3,920. The standard Florida contract has the seller pay this; check yours.
• Doc stamps on the mortgage note: $0.35 per $100 of loan = $1,891. Paid by the buyer.
• Intangible tax on the mortgage: 0.2% of the loan = $1,081. Paid by the buyer.

Add title insurance, lender fees, prepaid taxes and insurance, and recording fees for the full picture. Run your own numbers with the Florida closing cost calculator.

Homestead exemption in Bay County

If the home will be your primary residence, file for the homestead exemption with the Bay County Property Appraiser by March 1 of the year after you close. It can take up to about $50,000 off your assessed value and caps future increases under Save Our Homes. Details in the homestead guide.

Loan programs available in Bay County

• Conventional: Low down payment options for qualifying first-time buyers.
• FHA: Low down payment and flexible credit; minimum scores vary by lender.
• VA: For eligible veterans and service members.
• USDA: For eligible homes in qualifying rural and suburban areas.
• Jumbo: Loans above the conforming limit.
• DSCR: Investment property qualified on rental income.
• Bank statement: For self-employed borrowers.
• Construction-to-perm: One closing for building a new home.
• Foreign national: For buyers without US credit.
• Down payment assistance: Including Florida Hometown Heroes.

Nearby counties

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