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Pensacola
FL
Average Sales Price
-
Median Sales Price
-
Population
247,883
Total Listings
-
Demographics
Data provided by Attom Data
Population
Employment
Population
247.9K
247.9K in 2020
Density
1.1K
per square mile
Households
97K
29 With Children
Gender
49% / 51%
Men Vs Women
Occupancy
62% / 38%
Owned Vs Rented
Age Median: -- Years
No Data
Education Level
No Data
Educational Environment
Elementary Schools (59)Middle Schools (40)High Schools (28)
Name
Category
Grades
Library
Ratio
9/10
Brown Barge Middle School
201 Hancock Ln, Pensacola, FL 32503
Public
3 - 8
No
16:1 STUDENTS/TEACHERS
8/10
N. B. Cook Elementary School
1310 N 12th Ave, Pensacola, FL 32503
Public
PK - 5
No
14:1 STUDENTS/TEACHERS
8/10
Cordova Park Elementary School
2250 Semur Rd, Pensacola, FL 32503
Public
PK - 5
No
14:1 STUDENTS/TEACHERS
8/10
A. K. Suter Elementary School
501 Pickens Ave, Pensacola, FL 32503
Public
PK - 5
No
14:1 STUDENTS/TEACHERS
7/10
Hellen Caro Elementary School
12551 Meadson Rd, Pensacola, FL 32506
Public
PK - 5
No
14:1 STUDENTS/TEACHERS
7/10
Blue Angels Elementary School
1551 Dog Track Rd, Pensacola, FL 32506
Public
PK - 5
No
14:1 STUDENTS/TEACHERS
7/10
R. C. Lipscomb Elementary School
10200 Ashton Brosnaham Rd, Pensacola, FL 32534
Public
PK - 5
No
14:1 STUDENTS/TEACHERS
6/10
Escambia Virtual Academy Franchise
30 E Texar Dr, Pensacola, FL 32503
Public
KG - 12
No
33:1 STUDENTS/TEACHERS
6/10
Pine Meadow Elementary School
10001 Omar Ave, Pensacola, FL 32534
Public
PK - 5
No
15:1 STUDENTS/TEACHERS
6/10
Scenic Heights Elementary School
3801 Cherry Laurel Dr, Pensacola, FL 32504
Public
KG - 5
No
14:1 STUDENTS/TEACHERS
5/10
Beulah Elementary School
6201 Helms Rd, Pensacola, FL 32526
Public
KG - 5
No
15:1 STUDENTS/TEACHERS
5/10
Pleasant Grove Elementary School
3000 Owen Bell Ln, Pensacola, FL 32507
Public
KG - 5
No
15:1 STUDENTS/TEACHERS
5/10
Ferry Pass Elementary School
8310 N Davis Hwy, Pensacola, FL 32514
Public
PK - 5
No
15:1 STUDENTS/TEACHERS
5/10
L. D. Mcarthur Elementary School
330 E Ten Mile Rd, Pensacola, FL 32534
Public
PK - 5
No
13:1 STUDENTS/TEACHERS
4/10
Longleaf Elementary School
2600 Longleaf Dr, Pensacola, FL 32526
Public
PK - 5
No
14:1 STUDENTS/TEACHERS
4/10
Bellview Elementary School
4425 Bellview Ave, Pensacola, FL 32526
Public
PK - 5
No
13:1 STUDENTS/TEACHERS
3/10
Lincoln Park Elementary School
7600 Kershaw St, Pensacola, FL 32534
Public
PK - 3
No
10:1 STUDENTS/TEACHERS
3/10
Oakcrest Elementary School
1820 Hollywood Ave, Pensacola, FL 32505
Public
PK - 5
No
14:1 STUDENTS/TEACHERS
2/10
West Pensacola Elementary School
801 N 49th Ave, Pensacola, FL 32506
Public
PK - 5
No
11:1 STUDENTS/TEACHERS
2/10
O. J. Semmes Elementary School
1250 E Texar Dr, Pensacola, FL 32503
Public
PK - 5
No
13:1 STUDENTS/TEACHERS
2/10
C. A. Weis Elementary School
2701 N Q St, Pensacola, FL 32505
Public
PK - 5
No
13:1 STUDENTS/TEACHERS
1/10
Global Learning Academy
100 N P St, Pensacola, FL 32505
Public
PK - 5
No
14:1 STUDENTS/TEACHERS
1/10
Escambia Westgate Center
10050 Ashton Brosnaham Rd, Pensacola, FL 32534
Public
PK - 12
No
6:1 STUDENTS/TEACHERS
1/10
Navy Point Elementary School
1321 Patton Dr, Pensacola, FL 32507
Public
PK - 5
No
13:1 STUDENTS/TEACHERS
1/10
Brentwood Elementary School
4820 N Palafox St, Pensacola, FL 32505
Public
PK - 5
No
13:1 STUDENTS/TEACHERS
1/10
Montclair Elementary School
820 Massachusetts Ave, Pensacola, FL 32505
Public
PK - 5
No
12:1 STUDENTS/TEACHERS
1/10
Ensley Elementary School
501 E Johnson Ave, Pensacola, FL 32514
Public
PK - 5
No
13:1 STUDENTS/TEACHERS
1/10
Sherwood Elementary School
501 Cherokee Trl, Pensacola, FL 32506
Public
PK - 5
No
16:1 STUDENTS/TEACHERS
1/10
Myrtle Grove Elementary School
6115 Lillian Hwy, Pensacola, FL 32506
Public
PK - 5
No
15:1 STUDENTS/TEACHERS
1/10
Warrington Elementary School
220 N Navy Blvd, Pensacola, FL 32507
Public
PK - 5
No
12:1 STUDENTS/TEACHERS
1/10
Reinherdt Holm Elementary School
6101 Lanier Dr, Pensacola, FL 32504
Public
PK - 5
No
9:1 STUDENTS/TEACHERS
0/10
Pensocola Mennonite Christian School
8261 Eight Mile Creek Rd, Pensacola, FL 32526
Private
1 - 10
Yes
7:1 STUDENTS/TEACHERS
0/10
Carden Christian Academy
3290 Bauer Rd, Pensacola, FL 32506
Private
PK - 8
Yes
3:1 STUDENTS/TEACHERS
0/10
Escambia Virtual Instructional Program (District P
30 E Texar Dr, Pensacola, FL 32503
Public
KG - 12
No
STUDENTS/TEACHERS
0/10
Bb C Christian Academy
1520 W Avery St, Pensacola, FL 32501
Private
KG - 5
Yes
21:1 STUDENTS/TEACHERS
0/10
Seville Bayside Montessori School
400 S Alcaniz St, Pensacola, FL 32502
Private
PK - KG
Yes
2:1 STUDENTS/TEACHERS
0/10
Pensacola Jr Academy
8751 University Pkwy, Pensacola, FL 32514
Private
KG - 8
Yes
8:1 STUDENTS/TEACHERS
0/10
Little Flower Catholic School
6495 Lillian Hwy, Pensacola, FL 32506
Private
PK - 8
Yes
11:1 STUDENTS/TEACHERS
0/10
Sacred Heart Cathedral School
1603 N 12th Ave, Pensacola, FL 32503
Private
PK - 8
Yes
15:1 STUDENTS/TEACHERS
0/10
St John the Evangelist School
325 S Navy Blvd, Pensacola, FL 32507
Private
PK - 8
Yes
10:1 STUDENTS/TEACHERS
0/10
Redeemer Lutheran School
333 Commerce St, Pensacola, FL 32507
Private
PK - 8
Yes
10:1 STUDENTS/TEACHERS
0/10
Escambia Christian School
3311 W Moreno St, Pensacola, FL 32505
Private
PK - 8
Yes
8:1 STUDENTS/TEACHERS
0/10
Creative Learning Academy
3151 Hyde Park Rd, Pensacola, FL 32503
Private
PK - 8
Yes
5:1 STUDENTS/TEACHERS
0/10
Episcopal Day School of Christ Church Parish
223 N Palafox St, Pensacola, FL 32502
Private
PK - 8
Yes
11:1 STUDENTS/TEACHERS
0/10
Blessed Star Montessori Christian School
9151 N Davis Hwy, Pensacola, FL 32514
Private
PK - 8
Yes
2:1 STUDENTS/TEACHERS
0/10
Montessori School of Pensacola
4100 Montessori Dr, Pensacola, FL 32504
Private
PK - 8
Yes
12:1 STUDENTS/TEACHERS
0/10
Trinitas Christian School
3301 E Johnson Ave, Pensacola, FL 32514
Private
KG - 12
Yes
9:1 STUDENTS/TEACHERS
0/10
Sl Jones Christian Academy
1020 N New Warrington Rd, Pensacola, FL 32506
Private
PK - KG
Yes
12:1 STUDENTS/TEACHERS
0/10
East Hill Academy
635 W Garden St, Pensacola, FL 32502
Private
KG - 12
No
15:1 STUDENTS/TEACHERS
0/10
Marcus Pointe Christian School
6205 N W St, Pensacola, FL 32505
Private
PK - 5
Yes
25:1 STUDENTS/TEACHERS
0/10
East Hill Christian School
1301 E Gonzalez St, Pensacola, FL 32501
Private
PK - 12
Yes
7:1 STUDENTS/TEACHERS
0/10
Aletheia Christian Academy
1700 Woodchuck Ave, Pensacola, FL 32504
Private
PK - 12
Yes
13:1 STUDENTS/TEACHERS
0/10
Jubilee Christian Academy
5910 N W St, Pensacola, FL 32505
Private
PK - 8
Yes
16:1 STUDENTS/TEACHERS
0/10
Hospital & Homebound
30 E Texar Dr, Pensacola, FL 32503
Public
PK - 12
No
STUDENTS/TEACHERS
0/10
Lakeview Special Education
1200 W Avery St Bldg B, Pensacola, FL 32501
Public
KG - 12
No
4:1 STUDENTS/TEACHERS
0/10
Jackie Harris Preparatory Academy
1408 E Blount St, Pensacola, FL 32503
Public
KG - 5
No
16:1 STUDENTS/TEACHERS
0/10
Escambia Virtual Instruction Program
30 E Texar Dr, Pensacola, FL 32503
Public
KG - 12
No
STUDENTS/TEACHERS
0/10
Dixon Christian School of the Arts
2601 W Strong St Ste A, Pensacola, FL 32505
Private
KG - 8
Yes
10:1 STUDENTS/TEACHERS
0/10
St Paul Catholic School
3121 Hyde Park Rd, Pensacola, FL 32503
Private
PK - 8
Yes
17:1 STUDENTS/TEACHERS
Name
Category
Grades
Library
Ratio
9/10
Brown Barge Middle School
201 Hancock Ln, Pensacola, FL 32503
Public
3 - 8
No
16:1 STUDENTS/TEACHERS
6/10
Escambia Virtual Academy Franchise
30 E Texar Dr, Pensacola, FL 32503
Public
KG - 12
No
33:1 STUDENTS/TEACHERS
5/10
Beulah Academy of Science
8633 Beulah Rd, Pensacola, FL 32526
Public
6 - 8
No
16:1 STUDENTS/TEACHERS
4/10
Ferry Pass Middle School
8355 Yancey Ave, Pensacola, FL 32514
Public
6 - 8
No
17:1 STUDENTS/TEACHERS
3/10
Jim C. Bailey Middle School
4110 Bauer Rd, Pensacola, FL 32506
Public
6 - 8
No
17:1 STUDENTS/TEACHERS
2/10
J. H. Workman Middle School
6299 Lanier Dr, Pensacola, FL 32504
Public
6 - 8
No
16:1 STUDENTS/TEACHERS
2/10
Warrington Middle School
450 S Old Corry Field Rd, Pensacola, FL 32507
Public
6 - 8
No
16:1 STUDENTS/TEACHERS
2/10
Bellview Middle School
6201 Mobile Hwy, Pensacola, FL 32526
Public
6 - 8
No
20:1 STUDENTS/TEACHERS
2/10
Woodham Middle School
150 E Burgess Rd, Pensacola, FL 32503
Public
6 - 8
No
14:1 STUDENTS/TEACHERS
1/10
Escambia Westgate Center
10050 Ashton Brosnaham Rd, Pensacola, FL 32534
Public
PK - 12
No
6:1 STUDENTS/TEACHERS
0/10
Pensocola Mennonite Christian School
8261 Eight Mile Creek Rd, Pensacola, FL 32526
Private
1 - 10
Yes
7:1 STUDENTS/TEACHERS
0/10
Carden Christian Academy
3290 Bauer Rd, Pensacola, FL 32506
Private
PK - 8
Yes
3:1 STUDENTS/TEACHERS
0/10
Escambia Virtual Instructional Program (District P
30 E Texar Dr, Pensacola, FL 32503
Public
KG - 12
No
STUDENTS/TEACHERS
0/10
Newpoint Academy
8190 Pensacola Blvd, Pensacola, FL 32534
Public
6 - 8
No
16:1 STUDENTS/TEACHERS
0/10
Escambia Boys' Base
Thompson Ave Nttc Corry, Pensacola, FL 32511
Public
6 - 12
No
STUDENTS/TEACHERS
0/10
Pensacola Jr Academy
8751 University Pkwy, Pensacola, FL 32514
Private
KG - 8
Yes
8:1 STUDENTS/TEACHERS
0/10
Little Flower Catholic School
6495 Lillian Hwy, Pensacola, FL 32506
Private
PK - 8
Yes
11:1 STUDENTS/TEACHERS
0/10
Sacred Heart Cathedral School
1603 N 12th Ave, Pensacola, FL 32503
Private
PK - 8
Yes
15:1 STUDENTS/TEACHERS
0/10
St John the Evangelist School
325 S Navy Blvd, Pensacola, FL 32507
Private
PK - 8
Yes
10:1 STUDENTS/TEACHERS
0/10
Redeemer Lutheran School
333 Commerce St, Pensacola, FL 32507
Private
PK - 8
Yes
10:1 STUDENTS/TEACHERS
0/10
Escambia Christian School
3311 W Moreno St, Pensacola, FL 32505
Private
PK - 8
Yes
8:1 STUDENTS/TEACHERS
0/10
Creative Learning Academy
3151 Hyde Park Rd, Pensacola, FL 32503
Private
PK - 8
Yes
5:1 STUDENTS/TEACHERS
0/10
Episcopal Day School of Christ Church Parish
223 N Palafox St, Pensacola, FL 32502
Private
PK - 8
Yes
11:1 STUDENTS/TEACHERS
0/10
Pensacola Private School of Liberal Arts
1010 N 12th Ave Ste 228, Pensacola, FL 32501
Private
7 - 12
Yes
7:1 STUDENTS/TEACHERS
0/10
Blessed Star Montessori Christian School
9151 N Davis Hwy, Pensacola, FL 32514
Private
PK - 8
Yes
2:1 STUDENTS/TEACHERS
0/10
Montessori School of Pensacola
4100 Montessori Dr, Pensacola, FL 32504
Private
PK - 8
Yes
12:1 STUDENTS/TEACHERS
0/10
Trinitas Christian School
3301 E Johnson Ave, Pensacola, FL 32514
Private
KG - 12
Yes
9:1 STUDENTS/TEACHERS
0/10
East Hill Academy
635 W Garden St, Pensacola, FL 32502
Private
KG - 12
No
15:1 STUDENTS/TEACHERS
0/10
East Hill Christian School
1301 E Gonzalez St, Pensacola, FL 32501
Private
PK - 12
Yes
7:1 STUDENTS/TEACHERS
0/10
Aletheia Christian Academy
1700 Woodchuck Ave, Pensacola, FL 32504
Private
PK - 12
Yes
13:1 STUDENTS/TEACHERS
0/10
Jubilee Christian Academy
5910 N W St, Pensacola, FL 32505
Private
PK - 8
Yes
16:1 STUDENTS/TEACHERS
0/10
Amikids
3685 Muldoon Rd, Pensacola, FL 32526
Public
6 - 12
No
17:1 STUDENTS/TEACHERS
0/10
Pace Program
30 E Texar Dr, Pensacola, FL 32503
Public
6 - 12
No
6:1 STUDENTS/TEACHERS
0/10
Hospital & Homebound
30 E Texar Dr, Pensacola, FL 32503
Public
PK - 12
No
STUDENTS/TEACHERS
0/10
Lakeview Special Education
1200 W Avery St Bldg B, Pensacola, FL 32501
Public
KG - 12
No
4:1 STUDENTS/TEACHERS
0/10
Lakeview Dropout Prevention
1221 W Lakeview Ave, Pensacola, FL 32501
Public
6 - 12
No
14:1 STUDENTS/TEACHERS
0/10
Camelot Academy of Escambia County
401 Brigadier St, Pensacola, FL 32507
Public
6 - 12
No
16:1 STUDENTS/TEACHERS
0/10
Escambia Virtual Instruction Program
30 E Texar Dr, Pensacola, FL 32503
Public
KG - 12
No
STUDENTS/TEACHERS
0/10
Dixon Christian School of the Arts
2601 W Strong St Ste A, Pensacola, FL 32505
Private
KG - 8
Yes
10:1 STUDENTS/TEACHERS
0/10
St Paul Catholic School
3121 Hyde Park Rd, Pensacola, FL 32503
Private
PK - 8
Yes
17:1 STUDENTS/TEACHERS
Name
Category
Grades
Library
Ratio
7/10
West Florida High School/Technical
2400 Longleaf Dr, Pensacola, FL 32526
Public
9 - 12
No
20:1 STUDENTS/TEACHERS
6/10
Escambia Virtual Academy Franchise
30 E Texar Dr, Pensacola, FL 32503
Public
KG - 12
No
33:1 STUDENTS/TEACHERS
5/10
Pensacola High School
500 W Maxwell St, Pensacola, FL 32501
Public
9 - 12
No
17:1 STUDENTS/TEACHERS
4/10
Washington Senior High School
6000 College Pkwy, Pensacola, FL 32504
Public
9 - 12
No
18:1 STUDENTS/TEACHERS
2/10
Pine Forest High School
2500 Longleaf Dr, Pensacola, FL 32526
Public
9 - 12
No
21:1 STUDENTS/TEACHERS
1/10
Escambia Westgate Center
10050 Ashton Brosnaham Rd, Pensacola, FL 32534
Public
PK - 12
No
6:1 STUDENTS/TEACHERS
1/10
Escambia High School
1310 N 65th Ave, Pensacola, FL 32506
Public
9 - 12
No
19:1 STUDENTS/TEACHERS
0/10
Pensocola Mennonite Christian School
8261 Eight Mile Creek Rd, Pensacola, FL 32526
Private
1 - 10
Yes
7:1 STUDENTS/TEACHERS
0/10
George Stone Area Vocational-Tech Center
2400 Longleaf Dr, Pensacola, FL 32526
Public
9 - 12
No
STUDENTS/TEACHERS
0/10
Escambia Virtual Instructional Program (District P
30 E Texar Dr, Pensacola, FL 32503
Public
KG - 12
No
STUDENTS/TEACHERS
0/10
Escambia Boys' Base
Thompson Ave Nttc Corry, Pensacola, FL 32511
Public
6 - 12
No
STUDENTS/TEACHERS
0/10
Newpoint Pensacola
8190 Pensacola Blvd, Pensacola, FL 32534
Public
9 - 12
No
13:1 STUDENTS/TEACHERS
0/10
Escambia Virtual Instruction (Course Offerings)
30 E Texar Dr, Pensacola, FL 32503
Public
9 - 12
No
STUDENTS/TEACHERS
0/10
Pensacola Catholic High School
3043 W Scott St, Pensacola, FL 32505
Private
9 - 12
Yes
16:1 STUDENTS/TEACHERS
0/10
Pensacola Private School of Liberal Arts
1010 N 12th Ave Ste 228, Pensacola, FL 32501
Private
7 - 12
Yes
7:1 STUDENTS/TEACHERS
0/10
Trinitas Christian School
3301 E Johnson Ave, Pensacola, FL 32514
Private
KG - 12
Yes
9:1 STUDENTS/TEACHERS
0/10
East Hill Academy
635 W Garden St, Pensacola, FL 32502
Private
KG - 12
No
15:1 STUDENTS/TEACHERS
0/10
East Hill Christian School
1301 E Gonzalez St, Pensacola, FL 32501
Private
PK - 12
Yes
7:1 STUDENTS/TEACHERS
0/10
Aletheia Christian Academy
1700 Woodchuck Ave, Pensacola, FL 32504
Private
PK - 12
Yes
13:1 STUDENTS/TEACHERS
0/10
Amikids
3685 Muldoon Rd, Pensacola, FL 32526
Public
6 - 12
No
17:1 STUDENTS/TEACHERS
0/10
Pace Program
30 E Texar Dr, Pensacola, FL 32503
Public
6 - 12
No
6:1 STUDENTS/TEACHERS
0/10
Hospital & Homebound
30 E Texar Dr, Pensacola, FL 32503
Public
PK - 12
No
STUDENTS/TEACHERS
0/10
Lakeview Special Education
1200 W Avery St Bldg B, Pensacola, FL 32501
Public
KG - 12
No
4:1 STUDENTS/TEACHERS
0/10
Judy Andrews Second Chance Center
129 N Merritt St, Pensacola, FL 32507
Public
9 - 12
No
9:1 STUDENTS/TEACHERS
0/10
County Administrative Annex
30 E Texar Dr, Pensacola, FL 32503
Public
9 - 12
No
1:1 STUDENTS/TEACHERS
0/10
Lakeview Dropout Prevention
1221 W Lakeview Ave, Pensacola, FL 32501
Public
6 - 12
No
14:1 STUDENTS/TEACHERS
0/10
Camelot Academy of Escambia County
401 Brigadier St, Pensacola, FL 32507
Public
6 - 12
No
16:1 STUDENTS/TEACHERS
0/10
Escambia Virtual Instruction Program
30 E Texar Dr, Pensacola, FL 32503
Public
KG - 12
No
STUDENTS/TEACHERS
Show More
Amenities & Attractions
Restaurants
Home Services
Health & Medical
Local Services
Shopping
Recreation
Arts & Entertainment
Food
Beauty
Nightlife
Event Planning & Services
Automotive
Religious Organizations
Financial Services
Professional Services
Travel
Education
Local Media
Local Events & Flavor
Pets
Public Services & Government
-
Hopjacks Pizza Kitchen & Taproom
204 E 9 Mile Rd, Pensacola, FL 32534
Pizza Phone: 850-912-6181
-
Pho Golden Palace & Vietnamese Resturant
7156 N Davis Hwy, Pensacola, FL 32504
Vietnamese Phone: 850-857-8892
-
Golden Corral
2260 Langley Ave, Pensacola, FL 32505
Buffets Phone: 850-473-0185
-
Nomadic Eats
1014 Underwood Ave, Pensacola, FL 32504
Food Trucks Phone: 850-375-5696
-
Arby’s
6401 N 9th Ave, Pensacola, FL 32504
Fast Food Phone: 850-477-7441
-
Chuck E. Cheese’s
7350 Plantation Rd, Pensacola, FL 32504
Pizza Phone: 850-476-7724
-
Grover’s Fingers & Wings
9418 N Davis Hwy, Pensacola, FL 32514
Southern Phone: 850-477-7172
-
Perdido Bay Golf Club
1 Doug Ford Dr, Pensacola, FL 32507
Golf Phone: 850-492-1223
-
The Oar House
1000 S Pace Blvd, Pensacola, FL 32502
Seafood Phone: 850-549-4444
-
Pizza Hut
3900 Creighton Rd., Unit C, Pensacola, FL 32504
Pizza Phone: 850-478-2966
-
Whataburger
6129 Mobile Hwy., Pensacola, FL 32526
American (Traditional) Phone: 850-944-7948
-
Papa John’s Pizza
521 E Cervantes St, Pensacola, FL 32501
Pizza Phone: 850-435-3223
-
Southpaw Grill
6705 Pine Forest Road, Pensacola, FL 32526
Southern Phone: 850-898-3448
-
Swamphouse Marina & Landing
10421 N Davis Hwy, Pensacola, FL 32514
American (New) Phone: 850-478-9906
-
Butch’s Bistro and Bbq
13118 Sorrento Rd, Pensacola, FL 32507
Barbeque Phone: 850-492-0007
-
Gulf Coast Seafood Deli
2250 W Nine Mile Rd, Pensacola, FL 32534
Seafood Phone: 850-969-3299
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FAQs
To help you make informed decisions, we've compiled answers to some of the most commonly asked questions.
How much do I need for a down payment on a home?
The amount you need for a down payment depends on the type of loan and your financial situation. While 20% is a common benchmark, many buyers put down less—some conventional loans allow as little as 3%, and FHA loans require just 3.5%.
What's included in my monthly mortgage payment?
Your monthly mortgage payment typically includes principal, interest, property taxes, and homeowners insurance (often abbreviated as PITI). Depending on your loan, it may also include private mortgage insurance (PMI), homeowners association (HOA) fees, or other costs.
What is a 2-1 buydown, and how does it work?
A 2-1 buydown is a type of mortgage financing that temporarily lowers your interest rate for the first two years of the loan. In the first year, your rate is reduced by 2%, and in the second year, it's reduced by 1%. After that, your rate adjusts to the original agreed-upon rate for the remainder of the loan.
Who pays for the 2-1 buydown—the buyer, the seller, or the lender?
The cost of a 2-1 buydown can be paid by the buyer, seller, or lender, depending on the agreement. Often, sellers offer to pay for the buydown as an incentive to attract buyers, especially in a slower market. Buyers can also choose to pay for it themselves if they want lower initial payments.
What are closing costs, and how much should I expect to pay?
Closing costs are fees associated with finalizing your home purchase, including loan origination fees, title insurance, appraisal fees, and more. They typically range from 2% to 5% of the home's purchase price. Some costs may be negotiable, and in certain cases, sellers may agree to cover part of them.
How does my credit score affect my mortgage rate?
Your credit score plays a significant role in determining your mortgage rate. A higher score typically qualifies you for lower interest rates, which can save you thousands of dollars over the life of your loan. If your score is lower, you may still qualify for a loan, but at a higher rate.
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