33% of homebuyers in Orange Park used FHA financing to buy their first home. FHA requires a down payment of just 3.5%. Using an average sales price of $161,000, this means you need around $5600 for a down payment. 76% of first time buyers took money out of savings for their down payment.
In the Orange Park and Oakleaf areas, there are several other financing options available to help with down payment funds. A large part of our area qualifies for USDA financing, which does not require a down payment. 25% of buyers in Orange Park used the VA benefit last year.
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