Orlando FHA Loans
ORLANDO-KISSIMMEE-SANFORD, FL
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Orlando's 330 lenders originated 16,303 FHA loans during 2021. The total origination value was $4,093,875,000, with an average FHA loan value of $251,112.
Orlando FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Orlando
averaged
6%
for the week of 2022-09-23, compared to the national average (all FHA variants) of
6.08% for the same period.
The average rate for the prior week (2022-09-16) was
5.7% and
one month ago for the week of 2022-08-19, the
average rate was 5.61%.
The average rate one year ago was 3.16%.
For refis of the same type during the week of 2022-09-23, the average rate
was 5.61%.
Orlando FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Orlando level.
The top Orlando FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
1,182 FHA loans originated. Their average total fees are
$6,901, which is $1,950
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Orlando FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($3,127), OCEANSIDE MORTGAGE COMPANY ($3,542), Mr. Cooper ( Nationstar Mortgage ) ($5,010), Lakeview Community Capital, LLC ($5,032) and LAKEVIEW LOAN SERVICING, LLC ($5,078).
The lowest rate Orlando FHA lenders (with over 10 loans originated) are
LOANPAL, LLC (2.54%), MATTAMY HOME FUNDING, LLC (2.60%), PNC Bank (2.61%), HOME SOLUTION LENDERS INC. (2.65%) and InterContinental Capital Group, Inc (2.65%).
Orlando FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| ORLANDO-KISSIMMEE-SANFORD, FL | LAKE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| ORLANDO-KISSIMMEE-SANFORD, FL | ORANGE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| ORLANDO-KISSIMMEE-SANFORD, FL | OSCEOLA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| ORLANDO-KISSIMMEE-SANFORD, FL | SEMINOLE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Orlando (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
|---|---|---|---|---|
| 2018-01-01 | $299,000 (8.7%) | $442,410 (7.7%) | 1.10 | 8,833 |
| 2018-02-01 | $299,995 (7.2%) | $448,309 (7.9%) | 1.08 | 8,883 |
| 2018-03-01 | $309,900 (8.7%) | $448,400 (6.0%) | 1.07 | 8,869 |
| 2018-04-01 | $318,674 (9.1%) | $462,203 (6.5%) | 1.07 | 8,827 |
| 2018-05-01 | $318,250 (6.5%) | $463,248 (6.4%) | 1.06 | 9,017 |
| 2018-06-01 | $319,000 (6.7%) | $466,421 (8.1%) | 1.06 | 9,283 |
| 2018-07-01 | $317,466 (6.2%) | $463,196 (8.8%) | 1.06 | 9,705 |
| 2018-08-01 | $317,745 (6.9%) | $460,609 (9.8%) | 1.06 | 9,798 |
| 2018-09-01 | $310,000 (3.7%) | $450,630 (6.2%) | 1.04 | 10,076 |
| 2018-10-01 | $308,493 (3.4%) | $446,209 (5.2%) | 1.03 | 10,517 |
| 2018-11-01 | $303,450 (1.8%) | $436,237 (1.5%) | 1.02 | 10,651 |
| 2018-12-01 | $300,000 (0.7%) | $438,270 (1.2%) | 1.03 | 10,415 |
| 2019-01-01 | $299,910 (0.3%) | $439,363 (-0.7%) | 1.03 | 10,139 |
| 2019-02-01 | $299,950 (0.0%) | $443,758 (-1.0%) | 1.00 | 10,232 |
| 2019-03-01 | $306,571 (-1.1%) | $450,198 (0.4%) | 1.00 | 10,079 |
| 2019-04-01 | $312,450 (-2.0%) | $453,946 (-1.8%) | 0.98 | 9,815 |
| 2019-05-01 | $315,000 (-1.0%) | $456,706 (-1.4%) | 0.97 | 9,830 |
| 2019-06-01 | $319,900 (0.3%) | $455,336 (-2.4%) | 0.98 | 9,881 |
| 2019-07-01 | $322,495 (1.6%) | $452,135 (-2.4%) | 1.00 | 9,824 |
| 2019-08-01 | $322,000 (1.3%) | $449,199 (-2.5%) | 1.01 | 9,488 |
| 2019-09-01 | $319,975 (3.2%) | $445,661 (-1.1%) | 1.02 | 9,227 |
| 2019-10-01 | $322,250 (4.5%) | $447,366 (0.3%) | 1.03 | 9,548 |
| 2019-11-01 | $319,000 (5.1%) | $440,382 (1.0%) | 1.03 | 9,426 |
| 2019-12-01 | $317,000 (5.7%) | $444,403 (1.4%) | 1.06 | 8,971 |
| 2020-01-01 | $314,500 (4.9%) | $446,643 (1.7%) | 1.05 | 8,556 |
| 2020-02-01 | $325,000 (8.4%) | $459,801 (3.6%) | 1.05 | 8,207 |
| 2020-03-01 | $322,995 (5.4%) | $459,813 (2.1%) | 1.01 | 8,284 |
| 2020-04-01 | $312,500 (0.0%) | $436,338 (-3.9%) | 0.97 | 9,003 |
| 2020-05-01 | $315,000 (0.0%) | $437,796 (-4.1%) | 0.95 | 8,975 |
| 2020-06-01 | $319,900 (0.0%) | $448,728 (-1.5%) | 0.93 | 8,453 |
| 2020-07-01 | $320,000 (-0.8%) | $453,550 (0.3%) | 0.92 | 8,126 |
| 2020-08-01 | $324,900 (0.9%) | $450,269 (0.2%) | 0.93 | 7,921 |
| 2020-09-01 | $325,000 (1.6%) | $456,899 (2.5%) | 0.93 | 7,688 |
| 2020-10-01 | $324,900 (0.8%) | $457,169 (2.2%) | 0.93 | 7,543 |
| 2020-11-01 | $324,000 (1.6%) | $460,855 (4.7%) | 0.93 | 7,343 |
| 2020-12-01 | $320,000 (1.0%) | $460,419 (3.6%) | 0.94 | 6,800 |
| 2021-01-01 | $315,990 (0.5%) | $465,372 (4.2%) | 0.93 | 5,882 |
| 2021-02-01 | $315,495 (-2.9%) | $470,790 (2.4%) | 0.91 | 4,731 |
| 2021-03-01 | $322,500 (-0.2%) | $482,209 (4.9%) | 0.90 | 3,945 |
| 2021-04-01 | $327,000 (4.6%) | $493,188 (13.0%) | 0.88 | 3,452 |
| 2021-05-01 | $339,900 (7.9%) | $501,720 (14.6%) | 0.89 | 3,346 |
| 2021-06-01 | $355,500 (11.1%) | $523,573 (16.7%) | 0.92 | 3,626 |
| 2021-07-01 | $361,248 (12.9%) | $521,939 (15.1%) | 0.94 | 3,950 |
| 2021-08-01 | $374,950 (15.4%) | $519,282 (15.3%) | 0.99 | 4,142 |
| 2021-09-01 | $379,950 (16.9%) | $530,794 (16.2%) | 1.00 | 4,130 |
| 2021-10-01 | $389,900 (20.0%) | $536,336 (17.3%) | 1.03 | 4,039 |
| 2021-11-01 | $385,950 (19.1%) | $539,732 (17.1%) | 1.02 | 3,732 |
| 2021-12-01 | $389,450 (21.7%) | $534,655 (16.1%) | 1.04 | 3,304 |
| 2022-01-01 | $395,000 (25.0%) | $552,680 (18.8%) | 1.05 | 2,797 |
| 2022-02-01 | $398,700 (26.4%) | $572,489 (21.6%) | 1.02 | 2,467 |
| 2022-03-01 | $412,500 (27.9%) | $591,725 (22.7%) | 1.02 | 2,437 |
| 2022-04-01 | $429,900 (31.5%) | $610,677 (23.8%) | 1.01 | 2,689 |
| 2022-05-01 | $449,995 (32.4%) | $627,743 (25.1%) | 1.01 | 3,566 |
| 2022-06-01 | $464,262 (30.6%) | $627,718 (19.9%) | 1.03 | 4,743 |
| 2022-07-01 | $464,000 (28.4%) | $617,788 (18.4%) | 1.03 | 6,624 |
| 2022-08-01 | $454,116 (21.1%) | $599,931 (15.5%) | 1.04 | 7,206 |
Orlando's median listing price comes in at 104% of the national average.
Orlando's average listing price for 2022-08-01 was $599,931, a difference of $80,649 (15.5%) versus the prior year and $-17,857 versus the prior month.
For the 2022-08-01 period, Orlando had 7,206 MLS listings, a difference of 582 listings (9%) versus the prior month and 3,064 listings (74%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Orlando (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 75 days | 2,123 sqft |
| 2018-02-01 | 67 days | 2,137 sqft |
| 2018-03-01 | 57 days | 2,160 sqft |
| 2018-04-01 | 59 days | 2,186 sqft |
| 2018-05-01 | 59 days | 2,166 sqft |
| 2018-06-01 | 58 days | 2,169 sqft |
| 2018-07-01 | 59 days | 2,160 sqft |
| 2018-08-01 | 60 days | 2,140 sqft |
| 2018-09-01 | 62 days | 2,099 sqft |
| 2018-10-01 | 61 days | 2,090 sqft |
| 2018-11-01 | 62 days | 2,054 sqft |
| 2018-12-01 | 69 days | 2,040 sqft |
| 2019-01-01 | 77 days | 2,035 sqft |
| 2019-02-01 | 69 days | 2,039 sqft |
| 2019-03-01 | 59 days | 2,062 sqft |
| 2019-04-01 | 58 days | 2,078 sqft |
| 2019-05-01 | 57 days | 2,093 sqft |
| 2019-06-01 | 57 days | 2,100 sqft |
| 2019-07-01 | 59 days | 2,111 sqft |
| 2019-08-01 | 62 days | 2,099 sqft |
| 2019-09-01 | 66 days | 2,086 sqft |
| 2019-10-01 | 63 days | 2,094 sqft |
| 2019-11-01 | 63 days | 2,072 sqft |
| 2019-12-01 | 68 days | 2,073 sqft |
| 2020-01-01 | 72 days | 2,058 sqft |
| 2020-02-01 | 68 days | 2,067 sqft |
| 2020-03-01 | 56 days | 2,063 sqft |
| 2020-04-01 | 57 days | 2,002 sqft |
| 2020-05-01 | 67 days | 1,985 sqft |
| 2020-06-01 | 73 days | 1,982 sqft |
| 2020-07-01 | 63 days | 1,976 sqft |
| 2020-08-01 | 58 days | 1,968 sqft |
| 2020-09-01 | 58 days | 1,942 sqft |
| 2020-10-01 | 59 days | 1,914 sqft |
| 2020-11-01 | 61 days | 1,905 sqft |
| 2020-12-01 | 65 days | 1,893 sqft |
| 2021-01-01 | 70 days | 1,848 sqft |
| 2021-02-01 | 65 days | 1,813 sqft |
| 2021-03-01 | 51 days | 1,815 sqft |
| 2021-04-01 | 45 days | 1,795 sqft |
| 2021-05-01 | 38 days | 1,787 sqft |
| 2021-06-01 | 36 days | 1,838 sqft |
| 2021-07-01 | 37 days | 1,851 sqft |
| 2021-08-01 | 37 days | 1,856 sqft |
| 2021-09-01 | 39 days | 1,863 sqft |
| 2021-10-01 | 43 days | 1,885 sqft |
| 2021-11-01 | 43 days | 1,849 sqft |
| 2021-12-01 | 46 days | 1,855 sqft |
| 2022-01-01 | 46 days | 1,846 sqft |
| 2022-02-01 | 36 days | 1,817 sqft |
| 2022-03-01 | 32 days | 1,825 sqft |
| 2022-04-01 | 32 days | 1,843 sqft |
| 2022-05-01 | 29 days | 1,905 sqft |
| 2022-06-01 | 30 days | 1,947 sqft |
| 2022-07-01 | 31 days | 1,952 sqft |
| 2022-08-01 | 40 days | 1,936 sqft |
Orlando's median square footage for active listings during the 2022-08-01 period was 1,936 sqft. One year prior, the average listing was 1,856 sqft.
