Four loan types cover most Apopka purchases, and the cheapest one depends on your down payment, credit and service history. State and county assistance is real money, but it has income limits and the state fund can run out.
The four loan types on one house
| Loan | Minimum down | Upfront fee, financed | Loan amount | Monthly insurance or fee |
|---|---|---|---|---|
| Conventional | 5% ($20,000); 3% for some first-time buyers | None | $380,000 | PMI, about 0.46% to 1.50% of the loan a year |
| FHA | 3.5% ($14,000) | 1.75% of $386,000: $6,755 | $392,755 | 0.55% a year: $176.92 |
| VA, first use | None | 2.15% funding fee: $8,600 | $408,600 | None |
| USDA | None | 1%: $4,000 | $404,000 | 0.35% a year: $117.83 |
Three notes on the table. The VA funding fee is waived for veterans who receive VA disability compensation. The USDA fees are as reported by lenders in 2026. And USDA is a rural program: a 2026 lender check of the USDA map found Apopka city limits not eligible and Zellwood eligible, so check the exact address on the map before you plan around it.
Limits to know in 2026
- Conforming limit: $832,750 in Orange County. A larger loan is priced as a jumbo.
- FHA limit: $541,287 for a one-unit home, measured before the financed premium is added.
- 2027 limits: not announced as of November 11, 2026.
- How long the insurance lasts: conventional PMI drops off automatically at 78% loan-to-value. FHA insurance with less than 10% down stays for the life of the loan.
Florida Hometown Heroes
The state program lends 5% of your first mortgage amount, with a $10,000 minimum and a $35,000 maximum, as a second mortgage at 0% with no monthly payment. You repay it when you sell, refinance, transfer the deed or stop living in the home.
On the FHA example above: 5% of $392,755 is $19,637.75. That covers the $14,000 down payment with $5,637.75 left for closing costs. Your lender will confirm the exact basis for the 5%.
The Orange County income limit is $172,350 for FHA, VA and conventional loans. You must work full time for a Florida-based employer and be a first-time buyer; ask the lender how the program defines both. The current round opened July 13, 2026 with $50 million, and more than $15 million was left on November 11, 2026. It is first come, first served.
Orange County down payment assistance
The county offers up to $70,000 for very low income households, $40,000 for low income and $10,000 for moderate income. For a household of four the 2026 income limits are $57,450, $91,900 and $137,880. You must be a first-time buyer, finish a homebuyer education class and buy in Orange County.
The county page does not state the repayment terms, a maximum price, or whether homes inside Apopka city limits qualify. Confirm all three with Orange County Housing before you count on it.
Ask two lenders for a Loan Estimate on the same day, at the same price and down payment. Ask each one whether they are approved to offer Florida Housing programs. Not every lender is.
Before the next lesson
- Enter your household size and income in the down payment assistance finder.
- Read the guide to first-time buyer programs in Orange County.
- Switch loan types in the mortgage calculator and watch the payment change.
Sources: FHFA conforming loan limits, HUD 2026 FHA limits, VA funding fee, USDA eligibility map, Florida Housing Hometown Heroes, Orange County Down Payment Assistance. Checked November 2026.
Hometown Heroes is 5% of the first mortgage, between $10,000 and $35,000, so $392,755 produces $19,637.75. Conventional PMI ends automatically at 78% loan-to-value, FHA insurance with less than 10% down lasts for the life of the loan, and VA loans have no monthly insurance.
