Sarasota ยท Bradenton ยท Lakewood Ranch ยท North Port ยท Venice
VA & FHA Loans in Sarasota & Bradenton
$0 down for veterans. 3.5% down for everyone else.
VA and FHA loans make it possible to buy with little or nothing down. We'll show you which one fits, what each really costs each month, and whether the condo or home you love is eligible before you make an offer.
What's the difference between VA and FHA loans? VA loans are for eligible veterans, active-duty service members and some surviving spouses. They allow $0 down with no monthly mortgage insurance, and there's a one-time funding fee that some disabled veterans don't pay. FHA loans are open to anyone who qualifies, require 3.5% down with a 580+ credit score, and include upfront and monthly mortgage insurance. Both require condo buildings to be on the approved list. The Galli Team in downtown Bradenton offers VA and FHA loans across Sarasota and Manatee counties.
VA loans
For those who served, $0 down.
Who's eligible
Veterans, active-duty service members, many Guard and Reserve members, and some surviving spouses. We can request your Certificate of Eligibility for you.
$0 down, no monthly MI
With full entitlement there's no down payment requirement and no monthly mortgage insurance, which keeps the payment lower.
The funding fee
A one-time fee that can be financed into the loan. Veterans receiving VA disability compensation are generally exempt.
Condos
The building must be VA-approved. Many Lakewood Ranch and Palmer Ranch associations are; many barrier-island buildings aren't. Condo financing โ
Seller help
Sellers can pay normal closing costs plus concessions up to 4% of the price, which can cover items like the funding fee or a buydown.
Relocating or PCS
Moving to the Suncoast or stationed in the Tampa Bay area? We can pre-approve you before you arrive and close remotely.
FHA loans
Low down, flexible credit.
3.5% down
With a credit score of 580 or higher. Gift funds and down payment assistance can help cover it.
More credit flexibility
FHA is often more forgiving of lower scores and higher debt-to-income than conventional loans.
Mortgage insurance
An upfront premium, usually financed, plus a monthly premium. With less than 10% down it typically lasts for the life of the loan unless you refinance.
Condos
The building must be FHA-approved, or the unit may qualify for a single-unit approval. We check before you offer.
Seller help
Sellers can contribute up to 6% of the price toward closing costs, prepaids and other allowed costs.
FHA vs. 3% conventional
With good credit, a 3% down conventional loan can cost less. We'll compare both. First-time buyers โ
Compare payments
VA, FHA or conventional: what's the payment?
Enter a price to see estimated monthly payments side by side.
Illustration only, using one example rate for all three, taxes plus insurance of about 2% of price per year, the standard first-use VA funding fee, FHA upfront and annual MIP, and estimated conventional PMI. Real rates and mortgage insurance vary. Not a quote.
Local numbers
VA & FHA examples in Sarasota & Bradenton.
Retired Navy, disability exempt
A VA loan with $0 down and no funding fee. The seller paid closing costs.
Air Force veteran, PCS move
Pre-approved before arriving, closed remotely with a VA loan and $0 down.
Restaurant manager, 615 score
An FHA loan with 3.5% down, partly covered by a family gift.
Retiree couple
An FHA-approved community. 3.5% down with a seller credit toward closing costs.
Examples are composites of typical files, not specific borrowers. Every loan is priced and approved on its own facts.
"Veterans earned the VA benefit, and too many don't use it. If you served, let's start there and see what $0 down looks like for you."Chris Galli ยท Region Manager ยท Novus Home Mortgage ยท NMLS #13152 ยท Bradenton
For Sarasota, Bradenton & Lakewood Ranch agents
VA and FHA offers that close.
Condo approvals checked first
We confirm VA or FHA approval on the building before your buyer writes, so there's no surprise at week three.
Appraisal-ready
VA and FHA appraisals look at condition. We flag likely repair items early so sellers aren't caught off guard.
Seller concessions that work
Use allowed concessions for closing costs or a 2-1 buydown. See the buydown page โ
Get started ยท No hard credit pull
Find out what you qualify for with little or nothing down.
Tell us how to reach you. We'll check VA eligibility, compare FHA and conventional, and get your pre-approval moving.
Rather talk now? Call (941) 529-1040 or book a call.
Quick answers
VA & FHA loan FAQ.
What's the difference between a VA and an FHA loan?
Who is eligible for a VA loan?
Do I have to pay the VA funding fee?
What credit score do I need for an FHA loan?
Can I use a VA or FHA loan on a condo in Sarasota?
Can the seller pay closing costs on VA and FHA loans?
Can I refinance a VA or FHA loan later?
Related
More ways we say yes.
Ready when you are
One call. A real answer.
Fifteen minutes with Chris or the team, no hard credit pull, and you'll know which loan fits and what to do next.