Orlando FHA Loan Rates, Closing Costs & Stats
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 303 lenders originated 9,085 FHA loans during 2022. The total origination value was $2,668,625,000, with an average FHA loan value of $293,740.
Orlando FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Orlando
averaged
6.09%
for the week of 2023-05-26, compared to the national average (all FHA variants) of
6.612% for the same period.
Orlando's average FHA mortgage closing costs are $8,907.
The average rate for the prior week (2023-05-19) was
6.16% and
one month ago for the week of 2023-04-21, the
average rate was 6.2%.
The average rate one year ago was 4.82%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.86%.
Orlando FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs 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 UNITED WHOLESALE MORTGAGE, LLC, with
978 FHA loans originated. Their average total fees are
$12,376, which is $365
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Orlando FHA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC ($6,791), Bank of America ($7,339), LAKEVIEW LOAN SERVICING, LLC ($7,867), HOMEAMERICAN MORTGAGE CORPORATION ($8,300) and EVERETT FINANCIAL, INC. ($8,387).
The lowest rate Orlando FHA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC (3.81%), VILLAGE CAPITAL MORTGAGE (3.87%), First Guaranty Mortgage Corporation (3.88%), PENNYMAC LOAN SERVICES, LLC (4.17%) and LOANPAL, LLC (4.19%).
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 |
| ORLANDO-KISSIMMEE-SANFORD, FL | LAKE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| ORLANDO-KISSIMMEE-SANFORD, FL | ORANGE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| ORLANDO-KISSIMMEE-SANFORD, FL | OSCEOLA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| ORLANDO-KISSIMMEE-SANFORD, FL | SEMINOLE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
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%) | $438,789 (7.5%) | 1.11 | 8,938 |
| 2018-02-01 | $299,950 (7.1%) | $445,022 (8.0%) | 1.09 | 8,955 |
| 2018-03-01 | $309,000 (8.4%) | $445,762 (6.0%) | 1.08 | 8,935 |
| 2018-04-01 | $317,945 (8.8%) | $459,487 (6.6%) | 1.08 | 8,941 |
| 2018-05-01 | $319,400 (6.9%) | $461,331 (7.0%) | 1.07 | 9,088 |
| 2018-06-01 | $319,617 (6.9%) | $464,505 (8.4%) | 1.07 | 9,345 |
| 2018-07-01 | $318,175 (6.4%) | $461,225 (8.9%) | 1.06 | 9,766 |
| 2018-08-01 | $318,750 (7.0%) | $459,112 (10.0%) | 1.07 | 9,870 |
| 2018-09-01 | $310,000 (3.7%) | $448,382 (6.1%) | 1.04 | 10,170 |
| 2018-10-01 | $307,945 (3.0%) | $443,199 (5.0%) | 1.04 | 10,597 |
| 2018-11-01 | $302,835 (1.3%) | $434,179 (1.7%) | 1.03 | 10,690 |
| 2018-12-01 | $300,000 (0.7%) | $435,736 (1.2%) | 1.03 | 10,451 |
| 2019-01-01 | $299,900 (0.3%) | $436,362 (-0.6%) | 1.04 | 10,233 |
| 2019-02-01 | $301,445 (0.5%) | $441,293 (-0.8%) | 1.02 | 10,325 |
| 2019-03-01 | $308,920 (0.0%) | $442,449 (-0.7%) | 1.03 | 10,092 |
| 2019-04-01 | $313,003 (-1.6%) | $451,156 (-1.8%) | 0.99 | 9,843 |
| 2019-05-01 | $315,250 (-1.3%) | $453,896 (-1.6%) | 0.99 | 9,886 |
| 2019-06-01 | $319,900 (0.1%) | $451,563 (-2.8%) | 1.00 | 9,957 |
| 2019-07-01 | $322,430 (1.3%) | $449,783 (-2.5%) | 1.01 | 9,891 |
| 2019-08-01 | $329,000 (3.2%) | $457,551 (-0.3%) | 1.03 | 9,688 |
| 2019-09-01 | $329,935 (6.4%) | $461,859 (3.0%) | 1.04 | 8,738 |
| 2019-10-01 | $319,900 (3.9%) | $439,329 (-0.9%) | 1.03 | 9,719 |
| 2019-11-01 | $319,000 (5.3%) | $437,700 (0.8%) | 1.05 | 9,546 |
| 2019-12-01 | $316,973 (5.7%) | $442,121 (1.5%) | 1.06 | 9,082 |
| 2020-01-01 | $314,500 (4.9%) | $444,224 (1.8%) | 1.05 | 8,694 |
| 2020-02-01 | $325,000 (7.8%) | $455,370 (3.2%) | 1.06 | 8,386 |
| 2020-03-01 | $323,951 (4.9%) | $455,857 (3.0%) | 1.02 | 8,473 |
| 2020-04-01 | $312,500 (-0.2%) | $433,093 (-4.0%) | 0.98 | 9,166 |
| 2020-05-01 | $315,000 (-0.1%) | $434,754 (-4.2%) | 0.96 | 9,167 |
| 2020-06-01 | $319,950 (0.0%) | $445,085 (-1.4%) | 0.94 | 8,667 |
| 2020-07-01 | $322,555 (0.0%) | $449,913 (0.0%) | 0.93 | 8,314 |
| 2020-08-01 | $325,000 (-1.2%) | $447,209 (-2.3%) | 0.93 | 8,110 |
| 2020-09-01 | $325,000 (-1.5%) | $453,603 (-1.8%) | 0.93 | 7,886 |
| 2020-10-01 | $325,000 (1.6%) | $452,414 (3.0%) | 0.93 | 7,743 |
| 2020-11-01 | $325,000 (1.9%) | $456,924 (4.4%) | 0.95 | 7,568 |
| 2020-12-01 | $323,473 (2.1%) | $456,963 (3.4%) | 0.96 | 6,990 |
| 2021-01-01 | $319,500 (1.6%) | $461,338 (3.9%) | 0.95 | 5,934 |
| 2021-02-01 | $319,000 (-1.9%) | $466,346 (2.4%) | 0.93 | 4,914 |
| 2021-03-01 | $324,064 (0.0%) | $477,324 (4.7%) | 0.92 | 4,079 |
| 2021-04-01 | $327,000 (4.6%) | $490,987 (13.4%) | 0.89 | 3,549 |
| 2021-05-01 | $340,000 (7.9%) | $501,928 (15.5%) | 0.90 | 3,446 |
| 2021-06-01 | $355,950 (11.3%) | $523,008 (17.5%) | 0.94 | 3,689 |
| 2021-07-01 | $364,800 (13.1%) | $520,877 (15.8%) | 0.96 | 4,023 |
| 2021-08-01 | $374,950 (15.4%) | $517,481 (15.7%) | 1.00 | 4,206 |
| 2021-09-01 | $379,950 (16.9%) | $528,708 (16.6%) | 1.01 | 4,213 |
| 2021-10-01 | $390,000 (20.0%) | $533,710 (18.0%) | 1.04 | 4,109 |
| 2021-11-01 | $385,323 (18.6%) | $536,027 (17.3%) | 1.03 | 3,805 |
| 2021-12-01 | $389,900 (20.5%) | $531,642 (16.3%) | 1.06 | 3,386 |
| 2022-01-01 | $397,700 (24.5%) | $550,990 (19.4%) | 1.08 | 2,819 |
| 2022-02-01 | $397,500 (24.6%) | $568,928 (22.0%) | 1.03 | 2,536 |
| 2022-03-01 | $412,500 (27.3%) | $589,270 (23.5%) | 1.03 | 2,513 |
| 2022-04-01 | $429,900 (31.5%) | $610,247 (24.3%) | 1.02 | 2,765 |
| 2022-05-01 | $450,000 (32.4%) | $627,223 (25.0%) | 1.03 | 3,683 |
| 2022-06-01 | $465,000 (30.6%) | $626,112 (19.7%) | 1.04 | 4,883 |
| 2022-07-01 | $464,900 (27.4%) | $616,212 (18.3%) | 1.05 | 6,806 |
| 2022-08-01 | $452,500 (20.7%) | $597,543 (15.5%) | 1.05 | 7,349 |
| 2022-09-01 | $449,502 (18.3%) | $585,585 (10.8%) | 1.05 | 7,539 |
| 2022-10-01 | $445,000 (14.1%) | $589,303 (10.4%) | 1.05 | 7,391 |
| 2022-11-01 | $439,772 (14.1%) | $581,510 (8.5%) | 1.06 | 7,840 |
| 2022-12-01 | $431,000 (10.5%) | $582,124 (9.5%) | 1.06 | 7,375 |
| 2023-01-01 | $429,500 (8.0%) | $591,525 (7.4%) | 1.06 | 6,845 |
| 2023-02-01 | $434,950 (9.4%) | $602,121 (5.8%) | 1.05 | 6,418 |
| 2023-03-01 | $440,995 (6.9%) | $618,798 (5.0%) | 1.04 | 5,942 |
| 2023-04-01 | $441,490 (2.7%) | $628,316 (3.0%) | 1.03 | 5,793 |
Orlando's median listing price comes in at 103% of the national average.
Orlando's average listing price for 2023-04-01 was $628,316, a difference of $18,069 (3.0%) versus the prior year and $9,518 versus the prior month.
For the 2023-04-01 period, Orlando had 5,793 MLS listings, a difference of -149 listings (-3%) versus the prior month and 3,028 listings (110%) 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 | 76 days | 2,112 sqft |
| 2018-02-01 | 68 days | 2,128 sqft |
| 2018-03-01 | 57 days | 2,161 sqft |
| 2018-04-01 | 58 days | 2,185 sqft |
| 2018-05-01 | 58 days | 2,166 sqft |
| 2018-06-01 | 58 days | 2,173 sqft |
| 2018-07-01 | 59 days | 2,162 sqft |
| 2018-08-01 | 60 days | 2,146 sqft |
| 2018-09-01 | 61 days | 2,099 sqft |
| 2018-10-01 | 60 days | 2,088 sqft |
| 2018-11-01 | 62 days | 2,053 sqft |
| 2018-12-01 | 69 days | 2,043 sqft |
| 2019-01-01 | 75 days | 2,037 sqft |
| 2019-02-01 | 68 days | 2,042 sqft |
| 2019-03-01 | 59 days | 2,061 sqft |
| 2019-04-01 | 60 days | 2,082 sqft |
| 2019-05-01 | 58 days | 2,100 sqft |
| 2019-06-01 | 58 days | 2,106 sqft |
| 2019-07-01 | 59 days | 2,114 sqft |
| 2019-08-01 | 68 days | 2,147 sqft |
| 2019-09-01 | 76 days | 2,152 sqft |
| 2019-10-01 | 67 days | 2,088 sqft |
| 2019-11-01 | 62 days | 2,082 sqft |
| 2019-12-01 | 69 days | 2,080 sqft |
| 2020-01-01 | 73 days | 2,062 sqft |
| 2020-02-01 | 67 days | 2,070 sqft |
| 2020-03-01 | 56 days | 2,069 sqft |
| 2020-04-01 | 58 days | 2,009 sqft |
| 2020-05-01 | 67 days | 1,993 sqft |
| 2020-06-01 | 73 days | 1,989 sqft |
| 2020-07-01 | 63 days | 1,987 sqft |
| 2020-08-01 | 59 days | 1,975 sqft |
| 2020-09-01 | 58 days | 1,950 sqft |
| 2020-10-01 | 59 days | 1,920 sqft |
| 2020-11-01 | 60 days | 1,914 sqft |
| 2020-12-01 | 65 days | 1,903 sqft |
| 2021-01-01 | 70 days | 1,866 sqft |
| 2021-02-01 | 64 days | 1,828 sqft |
| 2021-03-01 | 50 days | 1,829 sqft |
| 2021-04-01 | 43 days | 1,805 sqft |
| 2021-05-01 | 37 days | 1,800 sqft |
| 2021-06-01 | 35 days | 1,847 sqft |
| 2021-07-01 | 36 days | 1,852 sqft |
| 2021-08-01 | 36 days | 1,864 sqft |
| 2021-09-01 | 38 days | 1,867 sqft |
| 2021-10-01 | 41 days | 1,888 sqft |
| 2021-11-01 | 43 days | 1,849 sqft |
| 2021-12-01 | 60 days | 1,853 sqft |
| 2022-01-01 | 44 days | 1,850 sqft |
| 2022-02-01 | 35 days | 1,821 sqft |
| 2022-03-01 | 31 days | 1,826 sqft |
| 2022-04-01 | 31 days | 1,846 sqft |
| 2022-05-01 | 27 days | 1,911 sqft |
| 2022-06-01 | 29 days | 1,950 sqft |
| 2022-07-01 | 30 days | 1,960 sqft |
| 2022-08-01 | 40 days | 1,938 sqft |
| 2022-09-01 | 49 days | 1,914 sqft |
| 2022-10-01 | 57 days | 1,914 sqft |
| 2022-11-01 | 62 days | 1,914 sqft |
| 2022-12-01 | 68 days | 1,902 sqft |
| 2023-01-01 | 73 days | 1,896 sqft |
| 2023-02-01 | 65 days | 1,907 sqft |
| 2023-03-01 | 54 days | 1,914 sqft |
| 2023-04-01 | 52 days | 1,914 sqft |
Orlando's median square footage for active listings during the 2023-04-01 period was 1,914 sqft. One year prior, the average listing was 1,846 sqft.