Orange County HFA VA Loan
Best For: First Time Homebuyers, Low Down Payments
VA program for Orange County, FL vets and active-duty military seeking down payment assistance, offered by the Orange County HFA
Program Description
The Orange County HFA (Housing Finance Authority) offers a 30-year VA mortgage option for veterans and active-duty military that can be paired with their Central Florida Homebuyers Dream Program. The assistance can be used towards down payments and closing costs.
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Orange County HFA VA Loan
Min. Credit Score
640
Min. Down Payment
0%
Max Loan Amount
$726,200
Qualification variables shown here are for 1-Unit Primary Residences, and loan amount ranges vary based on US County. Register Now to see if this loan program is a good fit for you, find your county limits, and find more options for purchasing a home.
Pros & Cons
- 100% Financing Available
- Can be combined with up to $10,000 in down payment assistance
- Allows up to 45% DTI (Debt-to-Income)
- Only available in select Florida counties
- Not available for second homes or investment properties
- Manufactured/ mobile homes are not permitted
- Only available for first-time home buyers
Program Availability
Orange County HFA VA Loans are available in 1 state.
*Limited Availability: Eligible properties may be located anywhere within Orange, Lake, Osceola, or Seminole County, FL including the City of Orlando.
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“If you're a Vet or active-duty military purchasing a home in Orange County, FL and you need assistance offsetting costs—programs from the Orange County HFA can provide down payment and closing funds."
Occupancy & Property Types
Qualification factors for this program can vary based on how you intend to occupy the property and what type of property you are purchasing. By registering for a free account , you can check program limits for all property and occupancy types.
Occupancy Types
Available Property Types for Primary Residence
Income & Purchase Price Limits
Your Debt-to-Income Ratio (DTI), as well as purchase price and income limits, are important factors when qualifying for a home loan program. By registering for a free account , you can find the exact program limits for this program and others in your area and for your unique scenario.
Debt-to-Income Limit
45.00%
Purchase Price Limit
$349,525
Income Limit
$82,900
Annual Household (1-2) Income
Qualification variables shown here are for 1-Unit Primary Residences, and loan limit ranges vary based on US County. Amounts may be rounded. Exact amounts can be accessed by registering for a free account.
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Key Features
- VA loan program option from Orange County HFA; follows VA loan guidelines
- Can be combined with "Central Florida Homebuyers Dream Program" assistance
- Must be a first time homebuyer
Additional Conditions
- Eligible properties may be located anywhere within Orange, Lake, Osceola, or Seminole County, FL including the City of Orlando.
- Also allows for multifamily properties between 1 and 4 units
- Must be a veteran or active-duty military
Other Limitations
In some circumstances, there are specific requirements you must meet or homebuyer education courses you must attend in order to be eligible for the loan program.
No other program limitations
A Homebuyer Education Class is not required for this loan program.
Mortgage Insurance & Fees
Most mortgage programs require mortgage insurance when you are financing more than 80% of the purchase price or appraised value. Some programs may also have an associated funding fee, paid at the time of closing, or an annual fee. Learn all about the different fees here.
No Mortgage Insurance
This program does not require Private Mortgage Insurance (PMI).
Type: VA Funding Fee
The VA Funding Fee, which ranges between 1.25% - 3.3% of the loan amount, is charged on all VA loans unless the veteran has been entitled 10% or greater in disability.
Type: No Annual Fee
This program does not have an annual fee.
Estimated Closing Costs: 3%
These amounts are just an estimate. Your closing costs include things like loan origination fees, discount points, appraisal fees, title insurance, taxes, deed recording fees, and other charges.
Grants, Bonds & 2nd Mortgages
There are certain programs that can be combined with this Orange County VA program to help cover all or a portion of your down payment and closing costs, or provide additional borrower benefits.
Central Florida Homebuyer’s Dream Program
|Orange County VAUp to $10,000 down payment and closing cost assistance for Orange County, FL first time homebuyers.
Max. Loan Amount
$726,200
Min. Credit Score
640
Min. Down Payment:
0%
Similar Loan Programs
If you think this home loan program may be a good fit for you, you may also want to check out the following programs that share many similarities with the current program.
Orange County HFA FHA Loan
Best For: First Time Homebuyers, Low Down Payments, Easy Qualification
FHA program for Orange County, FL residents seeking down payment assistance, offered by the Orange County HFA (Housing Finance Authority).
TDHCA FHA Purchase Loan
Best For: First Time Homebuyers, Easy Qualification
FHA program for Texas residents seeking down payment assistance, offered by the Texas Department of Housing and Community Affairs (TDHCA).
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* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers
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