First Time Home Buyer Guide for Sarasota, FL (2026)

First-time buyers in Sarasota can buy with as little as 3% down on a conventional loan or 3.5% down on FHA. Braun Mortgage Group is a family-owned broker in Sarasota that walks first-time buyers through every step, compares 20+ lenders, and answers questions evenings and weekends.

​

Call or Text Greg: (941) 315-2112
Available 24/7 | Free Consultation | Fast Pre-Approvals

​

Your loan options

​

Conventional
Minimum down: 3% (first time buyer programs)
Good fit when: Credit around 680+; mortgage insurance drops off later
2026 Sarasota County limit (1 unit): $832,750

​

FHA
Minimum down: 3.5%
Good fit when: Lower credit, higher debt, or a recent credit event
2026 Sarasota County limit (1 unit): $547,400

​

VA
Minimum down: 0%
Good fit when: Eligible veterans and service members
2026 Sarasota County limit (1 unit): No limit with full entitlement

​

USDA
Minimum down: 0%
Good fit when: Eligible rural addresses and income
2026 Sarasota County limit (1 unit): Location and income based

​

On a $400,000 home, 3% down is $12,000 and 3.5% down is $14,000, plus closing costs.

​

Down payment help

​

Florida and Sarasota County offer down payment and closing cost assistance programs for qualified first-time buyers. Funding, eligibility and lender availability change throughout the year, so for current availability and questions, email Greg at greg@braunmortgagegroup.com.

​

What first time buyers in Sarasota should know

​

Insurance is part of your approval
Florida homeowners insurance and, in some zones, flood insurance are included in your monthly payment. Get a real quote before you make an offer.

​

Condos need extra review
Many older Sarasota condo buildings are working through state required inspections and reserve funding. Some don't qualify for FHA or standard conventional loans yet. Ask before you fall in love with a unit.

​

HOA and CDD fees count
Every dollar of HOA dues or community district assessments reduces how much you qualify for.

​

Get pre-approved, not pre-qualified
A pre-approval reviews your actual income, assets and credit. Sellers take it more seriously.

​

Your first 5 steps

​

1. Call or text for a free review of your credit, income and savings.
2. Get pre-approved and a realistic monthly payment, including taxes, insurance and HOA.
3. Check which assistance programs you qualify for.
4. Shop homes in your range with your agent.
5. Under contract, we lock your rate and guide you to closing.

​

A real first-time buyer example

​

First thing one Monday morning, I got a call from a single first-time homebuyer with a lot of great questions. I spent over 45 minutes on the phone with her and answered every one. She felt a huge sense of relief and decided to apply to see how much she could be approved for.

​

Her pay included base salary plus bonus income, which made her file a little unique, but we worked through it, and within a few days she sent me a signed contract on her new home. She's a busy professional who travels often for work, so we kept everything moving by text and email and sent constant updates to her realtor, the listing agent and the closing attorney at every milestone. She closed without any issues, and her final cash to close came in a few thousand dollars less than we first estimated.

​

Frequently asked questions

​

How much do I need to buy my first home in Sarasota?
As little as 3% down on conventional or 3.5% on FHA, plus closing costs. Assistance programs may help with part of both; email Greg for current availability.

​

What credit score do I need?
FHA can go lower than conventional. Your exact options depend on your full credit, income and savings picture.

​

Am I a first time buyer if I owned a home before?
For most programs, yes, if you haven't owned and lived in your primary home in the past 3 years.

​

What's the FHA loan limit in Sarasota County in 2026?
$547,400 for a single family home.

​

Written by Greg Braun, NMLS 407115. Braun Mortgage Group, LLC, NMLS 1798086. Licensed in all of Florida and Ohio. Equal Housing Lender. All loans subject to credit approval; program terms change. Last reviewed October 2026.

​

Sources: FHFA 2026 conforming limit · 2026 Florida FHA limits