Types of loans and loan rates for Orlando FL

by Judith Bal

Here’s a quick overview of the most common types of home loans available in Orlando, FL, along with general information about current interest rates (as of September 2026):

🏡 Common Types of Home Loans

Conventional Loans: Not backed by the government. Usually require higher credit scores and a down payment (often 3-20%).
FHA Loans: Backed by the Federal Housing Administration. Great for first-time buyers, lower credit requirements, and down payments as low as 3.5%.
VA Loans: For eligible veterans and active-duty military. No down payment required and no private mortgage insurance (PMI).
USDA Loans: For rural and some suburban homes. No down payment, but income limits apply.
Jumbo Loans: For homes that exceed conforming loan limits (over $726,200 in most of FL). Stricter credit and income requirements.

💲 Current Interest Rates (Approximate, as of September 2026)

30-Year Fixed: 6.5% - 7.2%
15-Year Fixed: 5.8% - 6.4%
FHA 30-Year Fixed: 6.1% - 6.9%
VA 30-Year Fixed: 6.0% - 6.7%
5/1 ARM (Adjustable Rate): 6.0% - 6.8%

Note: These rates are averages and can vary based on your credit score, down payment, loan amount, and lender. For the most accurate and up-to-date rates, it’s best to contact local lenders or use a mortgage rate comparison tool.