The median sale price in the Orlando-Kissimmee-Sanford metro area is around $385,000 (Zillow, as of March 2026). Compared to Jacksonville's $295,910, this is nearly a $90,000 difference, which means that down payment plans should also vary within Florida. There are three main things to check in order: the actual amounts based on down payment percentages, holding costs like property taxes and insurance, and the factors affecting approval rates such as DTI and credit scores, along with assistance programs. In Orlando, which is centered around tourism and theme parks, income types often include hourly wages or seasonal employment, making proof of income stability more crucial for approvals.

Based on the $385,000 price, the actual amounts for different down payment ranges are as follows:

• 3.5%: $13,475 - FHA minimum requirement, credit score of 580 or higher
• 5%: $19,250 - Conventional minimum requirement level
• 10%: $38,500 - Compromise to reduce PMI burden
• 20%: $77,000 - PMI exemption threshold

PMI is a mortgage insurance premium that applies when the down payment is less than 20%. For FHA loans, if the credit score is 580 or higher, a 3.5% down payment is possible, while a score between 500 and 579 requires a 10% down payment (fha.com). A lower down payment reduces initial burdens but increases monthly payments and PMI, while filling over 20% has the opposite effect. Regardless of the range chosen, closing costs must be prepared separately, so it's advisable to first calculate the total funds needed by combining down payment and closing costs.

The effective property tax rate in Florida is around 0.79%, which is lower than the national average of 0.91% (propertytaxrates.org, 2026). However, the assessment methods in Orange County and homeowners insurance should be checked separately, and if moving from another state, estimating the budget based on the previous residence's tax rate can lead to inaccuracies. To summarize the items to check, it's good to obtain three documents before the transaction: the county assessor's notice, homeowners insurance quotes, and information on whether there is an HOA.

The second item to check is DTI, which ideally should be below 43% for the backend and below 28% for the frontend according to Qualified Mortgage standards (Consumer Financial Protection Bureau). Interest rates also vary by credit score ranges, with rates of 6.59% for scores above 780 and around 6.91% for the 700 range (themortgagereports.com, as of July 2026). Managing both credit scores and DTI can lead to more favorable conditions even with the same down payment.

The third item to check is assistance programs. Florida Hometown Heroes offers interest-free down payment assistance of 5% of the loan amount, up to $35,000, for frontline workers such as teachers, nurses, and firefighters, requiring a minimum credit score of 640 and meeting county income standards (makefloridayourhome.com). Even if you are not in these professions, it's advisable to check the minimum requirements of 3% for conventional loans or 3.5% for FHA loans. The income standards for Orange County are updated annually, so it's good to verify them again at the time of application.

Getting pre-approved first, avoiding new loans or job changes before closing, and keeping a reserve of a few months' living expenses can signal stability during the approval process. Organizing income documentation in advance is also one of the items that can reduce delays in the review process. To summarize the items to check in order: budget, taxes and insurance, DTI and credit score, assistance programs, and pre-approval, making a total of five items. Korean families are encouraged to check the assigned schools before purchasing in preferred school districts. This article is not investment or legal advice, and consulting a professional before actual contracts is recommended.