Orlando USDA Loan Rates, Closing Costs & Stats

ORLANDO-KISSIMMEE-SANFORD, FL

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Orlando's 22 lenders originated 35 USDA loans during 2023. The total origination value was $9,165,000, with an average USDA loan value of $261,857.

Orlando USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Orlando averaged 6.75% for the week of 2024-05-24, compared to the national average (all USDA variants) of 6.738% for the same period.

Orlando's average USDA mortgage closing costs are $6,873.

The average rate for the prior week (2024-05-17) was 6.53% and one month ago for the week of 2024-04-19, the average rate was 6.67%.

The average rate one year ago was 6.29%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.84%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Orlando USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Orlando level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
THE MORTGAGE FIRM, INC. 5 6.40% $9,482
MORTGAGE FINANCIAL GROUP, INC. 4 6.72% $8,226
UNITED WHOLESALE MORTGAGE, LLC 4 6.33% $9,035
ACADEMY MORTGAGE CORPORATION 2 6.88% $10,073
UNION HOME MORTGAGE CORP. 2 5.63% $9,957
Waterstone Mortgage Corporation 2 6.19% $10,925
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $10,713
First Heritage Mortgage, LLC 1 6.13% $12,009
Flagstar Bank, FSB 1 7.00% $4,986
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.63% $16,558
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.38% $11,020
METROPLEX MORTGAGE SERVICES, INC. 1 6.25% $9,095
Carrington Mortgage Services, LLC 1 5.38% $8,067
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $11,162
NEWREZ LLC 1 6.75% $9,473
OPEN MORTGAGE, LLC 1 6.13% $13,356
Sierra Pacific Mortgage Company, Inc. 1 6.63% $9,820
SUCCESS MORTGAGE PARTNERS, INC. 1 6.00% $6,591
AMERICAN FINANCIAL NETWORK, INC. 1 6.88% $13,401
AMERICAN BANCSHARES MORTGAGE 1 6.13% $12,730
Century Mortgage Company DBA Century Lending Company 1 6.00% $10,565
CROSSCOUNTRY MORTGAGE, LLC 1 7.75% $13,058

The top Orlando USDA lender as defined by loan originations is THE MORTGAGE FIRM, INC., with 5 USDA loans originated. Their average total fees are $9,482, which is $1,257 higher than the next largest lender, MORTGAGE FINANCIAL GROUP, INC..

The lowest fee Orlando USDA lenders (with over 10 loans originated) are .

The lowest rate Orlando USDA lenders (with over 10 loans originated) are .


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%) $438,788 (7.5%) 1.11 8,937
2018-02-01 $299,950 (7.1%) $445,039 (8.1%) 1.09 8,953
2018-03-01 $309,000 (8.4%) $445,808 (6.0%) 1.08 8,934
2018-04-01 $317,945 (8.8%) $459,464 (6.6%) 1.08 8,939
2018-05-01 $319,400 (6.9%) $461,316 (7.0%) 1.07 9,086
2018-06-01 $319,617 (6.9%) $464,530 (8.4%) 1.07 9,345
2018-07-01 $318,175 (6.4%) $461,244 (8.9%) 1.06 9,766
2018-08-01 $318,750 (7.0%) $459,145 (10.0%) 1.07 9,870
2018-09-01 $310,000 (3.7%) $448,394 (6.2%) 1.04 10,170
2018-10-01 $307,945 (3.0%) $443,256 (5.0%) 1.04 10,598
2018-11-01 $302,840 (1.3%) $434,235 (1.7%) 1.03 10,691
2018-12-01 $300,000 (0.7%) $435,793 (1.3%) 1.03 10,453
2019-01-01 $299,900 (0.3%) $436,424 (-0.5%) 1.04 10,236
2019-02-01 $301,463 (0.5%) $441,354 (-0.8%) 1.02 10,327
2019-03-01 $307,580 (-0.5%) $447,990 (0.5%) 1.01 10,140
2019-04-01 $313,011 (-1.6%) $451,193 (-1.8%) 0.99 9,843
2019-05-01 $315,250 (-1.3%) $453,851 (-1.6%) 0.99 9,885
2019-06-01 $319,900 (0.1%) $451,328 (-2.8%) 1.00 9,956
2019-07-01 $322,140 (1.3%) $449,549 (-2.5%) 1.01 9,890
2019-08-01 $322,636 (1.2%) $446,514 (-2.8%) 1.02 9,786
2019-09-01 $320,591 (3.4%) $441,973 (-1.4%) 1.03 9,748
2019-10-01 $319,677 (3.8%) $438,946 (-1.0%) 1.03 9,716
2019-11-01 $319,000 (5.3%) $437,546 (0.8%) 1.05 9,544
2019-12-01 $316,841 (5.6%) $441,934 (1.4%) 1.06 9,082
2020-01-01 $314,500 (4.9%) $444,179 (1.8%) 1.05 8,695
2020-02-01 $325,000 (7.8%) $455,354 (3.2%) 1.06 8,387
2020-03-01 $323,950 (5.3%) $455,872 (1.8%) 1.02 8,473
2020-04-01 $312,500 (-0.2%) $433,091 (-4.0%) 0.98 9,166
2020-05-01 $315,000 (-0.1%) $434,765 (-4.2%) 0.96 9,167
2020-06-01 $319,950 (0.0%) $445,085 (-1.4%) 0.94 8,667
2020-07-01 $322,525 (0.1%) $449,911 (0.1%) 0.93 8,313
2020-08-01 $325,000 (0.7%) $447,208 (0.2%) 0.93 8,109
2020-09-01 $325,000 (1.4%) $453,579 (2.6%) 0.93 7,885
2020-10-01 $325,000 (1.7%) $452,390 (3.1%) 0.93 7,743
2020-11-01 $325,000 (1.9%) $456,912 (4.4%) 0.95 7,568
2020-12-01 $323,410 (2.1%) $456,963 (3.4%) 0.96 6,989
2021-01-01 $319,495 (1.6%) $461,369 (3.9%) 0.95 5,933
2021-02-01 $319,031 (-1.8%) $466,098 (2.4%) 0.93 4,913
2021-03-01 $324,356 (0.1%) $477,331 (4.7%) 0.92 4,079
2021-04-01 $327,000 (4.6%) $491,054 (13.4%) 0.89 3,549
2021-05-01 $340,000 (7.9%) $501,696 (15.4%) 0.90 3,447
2021-06-01 $355,445 (11.1%) $522,800 (17.5%) 0.94 3,691
2021-07-01 $364,850 (13.1%) $520,877 (15.8%) 0.96 4,023
2021-08-01 $374,950 (15.4%) $517,420 (15.7%) 1.00 4,206
2021-09-01 $379,950 (16.9%) $528,658 (16.6%) 1.01 4,213
2021-10-01 $389,999 (20.0%) $533,447 (17.9%) 1.04 4,110
2021-11-01 $385,447 (18.6%) $535,985 (17.3%) 1.03 3,806
2021-12-01 $389,923 (20.6%) $531,576 (16.3%) 1.06 3,386
2022-01-01 $397,900 (24.5%) $550,664 (19.4%) 1.08 2,818
2022-02-01 $397,500 (24.6%) $568,759 (22.0%) 1.03 2,536
2022-03-01 $412,500 (27.2%) $588,942 (23.4%) 1.03 2,513
2022-04-01 $429,900 (31.5%) $610,081 (24.2%) 1.02 2,765
2022-05-01 $450,000 (32.4%) $626,526 (24.9%) 1.03 3,684
2022-06-01 $465,000 (30.8%) $625,753 (19.7%) 1.04 4,879
2022-07-01 $464,000 (27.2%) $614,361 (18.0%) 1.05 6,806
2022-08-01 $453,168 (20.9%) $597,206 (15.4%) 1.05 7,351
2022-09-01 $449,411 (18.3%) $586,019 (10.9%) 1.05 7,542
2022-10-01 $445,000 (14.1%) $588,125 (10.3%) 1.05 7,392
2022-11-01 $439,772 (14.1%) $581,227 (8.4%) 1.06 7,841
2022-12-01 $430,000 (10.3%) $581,794 (9.5%) 1.06 7,376
2023-01-01 $429,450 (7.9%) $590,898 (7.3%) 1.06 6,846
2023-02-01 $434,995 (9.4%) $601,709 (5.8%) 1.05 6,418
2023-03-01 $440,948 (6.9%) $618,305 (5.0%) 1.04 5,942
2023-04-01 $441,850 (2.8%) $627,268 (2.8%) 1.03 5,793
2023-05-01 $450,000 (0.0%) $641,973 (2.5%) 1.02 5,668
2023-06-01 $459,450 (-1.2%) $642,590 (2.7%) 1.03 5,927
2023-07-01 $459,900 (-0.9%) $643,212 (4.7%) 1.05 6,361
2023-08-01 $458,970 (1.3%) $630,849 (5.6%) 1.05 6,702
2023-09-01 $455,551 (1.4%) $622,464 (6.2%) 1.06 7,275
2023-10-01 $449,995 (1.1%) $609,858 (3.7%) 1.06 7,832
2023-11-01 $447,450 (1.8%) $603,817 (3.9%) 1.07 8,428
2023-12-01 $438,990 (2.1%) $589,827 (1.4%) 1.07 8,605
2024-01-01 $435,000 (1.3%) $584,534 (-1.1%) 1.06 8,715
2024-02-01 $435,000 (0.0%) $588,706 (-2.2%) 1.05 8,891
2024-03-01 $439,000 (-0.4%) $594,684 (-3.8%) 1.03 9,106
2024-04-01 $439,950 (-0.4%) $594,529 (-5.2%) 1.02 9,515
Orlando's median listing price for 2024-04-01 was $439,950, a difference of $-1,900 (-0.4%) versus the prior year and $950 versus the prior month.

Orlando's median listing price comes in at 102% of the national average.

Orlando's average listing price for 2024-04-01 was $594,529, a difference of $-32,739 (-5.2%) versus the prior year and $-155 versus the prior month.

For the 2024-04-01 period, Orlando had 9,515 MLS listings, a difference of 409 listings (4%) versus the prior month and 3,722 listings (64%) 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 71 days 2,111 sqft
2018-02-01 64 days 2,128 sqft
2018-03-01 53 days 2,161 sqft
2018-04-01 54 days 2,184 sqft
2018-05-01 54 days 2,166 sqft
2018-06-01 54 days 2,172 sqft
2018-07-01 55 days 2,162 sqft
2018-08-01 56 days 2,145 sqft
2018-09-01 58 days 2,099 sqft
2018-10-01 57 days 2,088 sqft
2018-11-01 58 days 2,053 sqft
2018-12-01 65 days 2,043 sqft
2019-01-01 72 days 2,036 sqft
2019-02-01 63 days 2,041 sqft
2019-03-01 57 days 2,064 sqft
2019-04-01 56 days 2,082 sqft
2019-05-01 54 days 2,099 sqft
2019-06-01 56 days 2,105 sqft
2019-07-01 56 days 2,113 sqft
2019-08-01 58 days 2,104 sqft
2019-09-01 60 days 2,092 sqft
2019-10-01 62 days 2,085 sqft
2019-11-01 58 days 2,082 sqft
2019-12-01 65 days 2,080 sqft
2020-01-01 70 days 2,062 sqft
2020-02-01 63 days 2,070 sqft
2020-03-01 52 days 2,069 sqft
2020-04-01 55 days 2,009 sqft
2020-05-01 65 days 1,993 sqft
2020-06-01 68 days 1,989 sqft
2020-07-01 59 days 1,987 sqft
2020-08-01 55 days 1,975 sqft
2020-09-01 55 days 1,950 sqft
2020-10-01 56 days 1,920 sqft
2020-11-01 57 days 1,914 sqft
2020-12-01 61 days 1,903 sqft
2021-01-01 65 days 1,866 sqft
2021-02-01 59 days 1,828 sqft
2021-03-01 46 days 1,829 sqft
2021-04-01 40 days 1,805 sqft
2021-05-01 36 days 1,800 sqft
2021-06-01 33 days 1,847 sqft
2021-07-01 34 days 1,852 sqft
2021-08-01 36 days 1,864 sqft
2021-09-01 37 days 1,868 sqft
2021-10-01 40 days 1,888 sqft
2021-11-01 42 days 1,849 sqft
2021-12-01 58 days 1,853 sqft
2022-01-01 43 days 1,849 sqft
2022-02-01 34 days 1,821 sqft
2022-03-01 30 days 1,826 sqft
2022-04-01 30 days 1,847 sqft
2022-05-01 27 days 1,911 sqft
2022-06-01 29 days 1,949 sqft
2022-07-01 30 days 1,959 sqft
2022-08-01 40 days 1,938 sqft
2022-09-01 48 days 1,914 sqft
2022-10-01 57 days 1,914 sqft
2022-11-01 61 days 1,914 sqft
2022-12-01 67 days 1,902 sqft
2023-01-01 72 days 1,896 sqft
2023-02-01 64 days 1,907 sqft
2023-03-01 53 days 1,914 sqft
2023-04-01 51 days 1,914 sqft
2023-05-01 47 days 1,935 sqft
2023-06-01 46 days 1,957 sqft
2023-07-01 46 days 1,952 sqft
2023-08-01 46 days 1,937 sqft
2023-09-01 50 days 1,914 sqft
2023-10-01 50 days 1,902 sqft
2023-11-01 53 days 1,885 sqft
2023-12-01 58 days 1,850 sqft
2024-01-01 66 days 1,846 sqft
2024-02-01 64 days 1,839 sqft
2024-03-01 54 days 1,850 sqft
2024-04-01 54 days 1,863 sqft
Orlando's median listing age (time on market) for 2024-04-01 was 54 days. This is 6% longer than the same period one year ago.

Orlando's median square footage for active listings during the 2024-04-01 period was 1,863 sqft. One year prior, the average listing was 1,914 sqft.