Buy Your First Home in Orlando
Tight inventory and steady demand — first-time buyers lean on Orange/Osceola county assistance plus Hometown Heroes. Combine a low-down-payment loan with Florida down payment assistance — up to $35,000 via Hometown Heroes — plus Orange County programs. Guidance from a direct lender since 1998.
- As little as 3–3.5% down in Orlando — or $0 down (VA/USDA)
- Up to $35,000 assistance (Hometown Heroes) + Orange County DPA
- Self-employed? Bank statement. Non-citizen? Foreign national & ITIN
- Orlando median ~$390,000 · FHA, conventional, VA, USDA & Non-QM
Updated July 2026 · by the CambridgeHomeLoan.com Home Loan Team · Equal Housing Lender
Buying your first home in Orlando, Florida
Tight inventory and steady demand — first-time buyers lean on Orange/Osceola county assistance plus Hometown Heroes. With a Orlando median sale price around $390,000, the biggest hurdle for most first-time buyers is upfront cash — which is exactly what low-down-payment loans and down payment assistance solve.
As a first-time buyer in Orlando (generally, no primary-residence ownership in the past three years), you can combine an FHA, conventional, VA, or USDA first mortgage with statewide and Orange County assistance. Investing instead of buying to live in? See our Orlando DSCR loan.
| Orlando median price (2026) | ~$390,000 (approximate; verify current) |
|---|---|
| Down payment | FHA 3.5% · conventional 3% · VA/USDA $0 |
| Local assistance | Orange County DPA + Osceola County SHIP |
| Statewide assistance | Hometown Heroes (up to $35,000), Florida Assist, HFA Preferred |
| County | Orange County |
| First-time definition | No primary-residence ownership in the past 3 years |
First-time buyer loan programs (2026)
Most first-time buyers put down far less than 20% — often 3–5%, sometimes $0 with the right program. Here are the core first-mortgage options.
| FHA loan | 3.5% down · 580+ FICO · flexible — the most popular first-time-buyer loan |
|---|---|
| Conventional 97 / HomeReady / Home Possible | As little as 3% down · 620+ · cancellable PMI |
| VA loan | $0 down for eligible veterans & service members · no PMI |
| USDA loan | $0 down in designated rural areas · income limits apply |
| FHA 203(k) | Roll renovation costs into the purchase loan |
Florida down payment assistance (2026)
Florida has one of the most generous down-payment-assistance landscapes in the country. These Florida Housing Finance Corporation (FHFC) programs pair with your first mortgage and are offered through participating lenders — most are deferred second mortgages with no monthly payment.
| Florida Hometown Heroes | Up to 5% of the loan (max $35,000), 0% interest, deferred — for eligible frontline workers & veterans; often includes a rate discount |
|---|---|
| Florida Assist (FL Assist) | Up to $10,000, 0% interest, deferred second mortgage (no monthly payment) |
| Florida Homeownership Loan Program (FL HLP) | Up to $10,000 as a low-payment 3% second mortgage |
| HFA Preferred / Advantage PLUS | Forgivable second (3%–5% of the loan), forgiven 20%/year over 5 years |
| Salute Our Soldiers | Special first-mortgage pricing + DPA for military borrowers |
| County & city (SHIP) programs | Local assistance that can stack — often $10,000–$60,000+ combined |
Timing matters — act early. Florida Hometown Heroes funding typically opens at the start of the state fiscal year (early July) and can run out by fall. If you’re eligible, get pre-qualified now so your file is ready while funds are available.
Eligibility: generally a 640+ FICO (580 for some FHA options), first-time-buyer status (no ownership in the past 3 years), a HUD-approved homebuyer education course, and county-specific income and purchase-price limits. Program amounts are maximums, subject to funding.
First-time buyer mortgage calculators
Three quick tools — estimate your monthly payment, how much home you can afford, and your true cash-to-close after down payment assistance. Illustrative only; your actual numbers depend on program, credit, and county limits.
Monthly payment (PITI)
How much home can I afford?
Cash to close (after down payment assistance)
Self-employed or a non-citizen? You can still buy.
Most first-time-buyer guides stop at FHA and conventional — but plenty of first-time buyers are self-employed or aren’t U.S. citizens. As a direct lender since 1998, we have programs built for exactly those situations.
Self-employed first-time buyers
If your tax returns understate your real income, a bank statement loan lets you qualify on 12–24 months of deposits instead of tax returns — for your primary residence.
Non-citizen buyers
Buying without a Social Security number? Our foreign national and ITIN home loan programs open the door to first-time ownership.
Thin or no traditional credit
Alternative-credit and Non-QM options exist when a standard program says no. Explore all our Non-QM programs.
Building a home or need a bridge in Orlando?
Not every path to your next home is a standard purchase. Whether you’re building from the ground up or need to buy before you sell, we finance both — for owner-occupied primary residences and for builders creating spec homes.
Ground-up construction loans
Owner-occupied: build your primary residence with a one-time-close construction-to-permanent loan — one approval, one closing, converting to your permanent mortgage when the home is complete. Spec homes: builders can finance ground-up spec construction with up to 80% of land and 100% of construction. See our Florida construction loan.
Bridge loans
Owner-occupied: buy your next Orlando home before selling your current one with a short-term bridge loan, then repay it when your existing home closes — no rushed sale, no double move. Spec homes: builders can bridge a completed spec home while it lists and sells. See our Florida bridge loan.
Building an investment or rental instead? Explore ground-up construction and our Florida DSCR loans for investors.
How to buy your first home in Orlando
| 1 · Get pre-qualified | Apply with us to see your programs, budget, and DPA options — before you shop. |
|---|---|
| 2 · Homebuyer education | Complete a HUD-approved course (often required for DPA; ~6–8 hours, online options). |
| 3 · Find your home | Shop within your pre-qualified price and the program’s purchase-price limit. |
| 4 · Apply & lock | We submit your loan and lock your rate; DPA is layered into your approval. |
| 5 · Close & move in | Sign, get the keys, then file your homestead exemption. |
Orlando first-time home buyer FAQ
Often far less than 20%. FHA requires 3.5% down, conventional first-time programs as little as 3%, and VA/USDA can be $0 down. With a Orlando median around $390,000, down payment assistance can cover much of the upfront cash.
Statewide Florida programs (Hometown Heroes up to $35,000, Florida Assist up to $10,000, HFA Preferred) plus local Orange County DPA + Osceola County SHIP. Many buyers stack programs for more combined assistance.
Generally anyone who hasn’t owned a primary residence in the past three years, meets the county income and purchase-price limits, has a qualifying credit score (often 640+), and completes a homebuyer education course.
Yes — a bank statement loan qualifies you on 12–24 months of deposits instead of tax returns, which is ideal for self-employed Orlando buyers.
Yes — permanent and many non-permanent residents use standard programs, and buyers without a Social Security number can use our foreign national or ITIN home loans.
Explore your options
© 2026 CambridgeHomeLoan.com. Equal Housing Lender. First-time homebuyer and down payment assistance programs are for owner-occupied primary residences and are subject to eligibility, income and purchase-price limits, credit approval, homebuyer education, and program funding availability. Down payment assistance programs are offered by the Florida Housing Finance Corporation and local housing agencies, are administered through participating lenders, and can change or exhaust funding without notice — amounts shown are program maximums, not commitments. Rates, terms, and figures are illustrative and subject to change. Calculator results are estimates only. This page is educational and is not financial or legal advice; confirm current program terms for your county and scenario.