Palm Springs Mortgage Rates 2025
Your guide to financing homes in Palm Springs, California.
Palm Springs, California Mortgage Rates Today
Current Palm Springs mortgage rates range from 6.50% to 7.80%. Famous for its mid-century modern architecture and resort lifestyle, the Palm Springs market features a mix of conventional loans for primary residences and specialized jumbo or second-home loans for its significant vacation property market.
Quick Answer: The Palm Springs mortgage market is unique, catering to retirees, second-home buyers, and investors. Conventional loans are common, but understanding the nuances of jumbo financing and loans for non-primary residences is key for many buyers in this desert oasis.
Median Home Price
$850,000
Avg. Days on Market
55
1-Year Appreciation
+4.2%
Most Common Loan
Conventional/Jumbo
Current Palm Springs Mortgage Rates
Average Palm Springs Rates This Week
| Loan Type | Rate Range | Down Payment | Best For |
|---|---|---|---|
| 30-Year Fixed Conventional | 6.50% - 7.30% | 10-20% | Primary residences |
| 30-Year Jumbo | 6.80% - 7.60% | 20-25% | Luxury & second homes over $766K |
| VA 30-Year Fixed | 6.00% - 6.70% | 0% | Eligible veterans |
Rates updated October 26, 2025.
Palm Springs Mortgage Payment Examples
Median Palm Springs Home (Jumbo)
Home Price: $850,000
Down Payment: 20% ($170,000)
Loan Amount: $680,000
Interest Rate: 7.00%
Monthly Payment Breakdown:
- Principal & Interest: $4,524
- Property Taxes: $696 ($850k × 0.99%)
- Homeowners Insurance: $177
- Total Monthly Payment: $5,397
Annual Income Needed: ~$230,000
Calculate your payment →Second Home Condo Purchase
Home Price: $600,000
Down Payment: 25% ($150,000)
Loan Amount: $450,000
Interest Rate: 7.25% (Second Home Loan)
Total Monthly Payment: $4,050 (incl. taxes, insurance, HOA)
Note: Second home loans often have slightly higher rates and down payment requirements.
Palm Springs Home Loan Programs
1. Jumbo Loans
With a median price over the Riverside County conforming limit of $766,550, jumbo loans are very common in Palm Springs, especially for single-family homes.
Key Features:
- For loan amounts over $766,550.
- Typically requires 20-25% down payment.
- Excellent credit (720+) and low DTI ratios are needed.
- Stricter underwriting for second homes.
Best For:
- Buyers of luxury or mid-century modern homes.
- Second-home buyers and investors.
2. Conventional Loans
Conventional loans are the workhorse for properties under the county limit, especially for the many condos and smaller homes in the area.
Key Features:
- Ideal for primary residences.
- 5-20% down payments are common.
- Best rates for those with strong credit.
Best For:
- Full-time residents.
- Buyers of condos and smaller single-family homes.
Palm Springs Neighborhood Mortgage Guide
Movie Colony
$1.5M - $4M+
Home Type: Historic Estates
Typical Loan: Jumbo
Buyer Profile: Luxury buyers, history buffs
Old Las Palmas
$2M - $10M+
Home Type: Classic Hollywood Estates
Typical Loan: Super-Jumbo
Buyer Profile: Celebrities, high-net-worth
Warm Sands
$600K - $1.2M
Home Type: Boutique Hotels & Condos
Typical Loan: Conventional / Jumbo
Buyer Profile: Investors, second-home buyers
Vista Las Palmas
$1.5M - $3M
Home Type: Mid-Century Modern
Typical Loan: Jumbo
Buyer Profile: Architecture enthusiasts
Getting Pre-Approved for a Palm Springs Mortgage
Why Pre-Approval is Critical in Palm Springs
The Palm Springs market can be competitive, especially for desirable mid-century properties. A pre-approval for a jumbo or second-home loan shows sellers you are a serious, qualified buyer capable of navigating a more complex financing process.
Palm Springs Mortgage & Housing FAQ
Is it hard to get a mortgage for a second home in Palm Springs?
It is more difficult than for a primary residence. Lenders typically require a larger down payment (20-25% minimum), excellent credit, and will scrutinize your debt-to-income ratio more carefully. However, it is very common in this market.
Do I need a jumbo loan in Palm Springs?
If the loan amount you need is over the Riverside County conforming limit of $766,550, you will need a jumbo loan. Given the median home price of $850,000, many buyers will fall into this category.