Sarasota Β· Bradenton Β· Lakewood Ranch Β· Parrish Β· Palmetto
First-Time Home Buyers in Sarasota & Bradenton
Less down than you think. More help than you know.
From 3% and 3.5% down programs to $0-down VA loans and local down payment assistance, there are more ways to buy your first Suncoast home than most people realize. We'll walk you through every option, step by step, in plain language.
How much do you need to buy your first home in Sarasota or Bradenton? Less than many people think. Conventional loans can start at 3% down, FHA loans at 3.5% down with a 580+ credit score, and eligible veterans can buy with $0 down through VA. Florida and Manatee County down payment assistance programs can help with the down payment and closing costs for buyers who qualify, and sellers can contribute toward closing costs. For most programs, you count as a first-time buyer if you haven't owned a home in the past three years. The Galli Team in downtown Bradenton helps first-time buyers across Sarasota and Manatee counties.
Loan programs
Which first-time buyer loan fits you?
| Program | Down payment | Credit | Good to know |
|---|---|---|---|
| Conventional (first-time options) | From 3% | Typically 620+ | Mortgage insurance can be removed later as you build equity |
| FHA | 3.5% with 580+ | More flexible | Mortgage insurance usually stays unless you refinance |
| VA | $0 | Flexible | For eligible veterans and service members; no monthly mortgage insurance |
| USDA | $0 | Program dependent | Only in eligible areas and under income limits |
| With assistance | Can cover part or all of it | Program dependent | Pairs with FHA or conventional for buyers who qualify |
Credit and down payment figures are typical program minimums; individual lenders and programs can require more.
Down payment help
Assistance for Sarasota & Manatee buyers.
Manatee County assistance
Manatee County has offered down payment assistance for eligible buyers purchasing in the county. See the Manatee program β
Florida statewide programs
Florida Housing programs help eligible first-time buyers with down payment and closing costs. Funding opens and closes. Florida assistance β
Seller credits & gifts
Sellers can pay part of your closing costs, and family members can gift funds toward your down payment. All the ways to get help β
Assistance programs have income, price and eligibility limits, and funding changes. We'll check what's open when you apply.
Budget
What could you afford?
A rough first look at a price range, including Florida taxes, insurance and mortgage insurance.
Enter your income to see a range.
Illustration only, using an example rate, 45% DTI, 3.5% down, mortgage insurance, and taxes plus insurance of about 2% of price per year. Not a quote or approval.
Your first-home roadmap
Five steps to your keys.
Get pre-approved
Know your price range and which programs fit before you tour homes.
Check for assistance
See whether you qualify for state or county help before you set your budget.
Price insurance early
Florida insurance varies a lot by age, roof and flood zone. Get a quote before you offer.
Make an offer
Ask your agent about seller credits for closing costs or a buydown.
Close and file homestead
After you move in, file for homestead to lower your assessed value and cap future increases.
Not ready yet?
We'll give you a simple plan for credit and savings and check back with you.
Local numbers
First-home examples in Sarasota & Bradenton.
Teacher, first home
An FHA loan with 3.5% down and county down payment help toward closing costs.
Young couple, new construction
A conventional loan with 3% down and a builder credit toward closing costs.
Army veteran
A VA loan with $0 down and the seller paying part of the closing costs.
Nurse, buying solo
A conventional loan with 5% down in a warrantable building. We checked the condo first.
Examples are composites of typical files, not specific borrowers. Every loan is priced and approved on its own facts.
"Most first-time buyers think they need 20% down. Most don't. The first call is about showing you what's actually possible."Chris Galli Β· Region Manager Β· Novus Home Mortgage Β· NMLS #13152 Β· Bradenton
Get started Β· No hard credit pull
Your first home starts with one call.
Tell us how to reach you. We'll walk you through your options and check for assistance programs.
Rather talk now? Call (941) 529-1040 or book a call.
Quick answers
First-time buyer FAQ.
How much do I need to buy my first home in Sarasota?
Who counts as a first-time home buyer?
Is there down payment assistance in Sarasota and Manatee County?
What credit score do I need for a first home?
Should I choose FHA or a 3% down conventional loan?
Can the seller pay my closing costs?
What costs should I budget for in Florida?
Related
More for first-time buyers.
Ready when you are
One call. A real answer.
Fifteen minutes with Chris or the team, no hard credit pull, and you'll know what you can afford and what to do next.