See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated March 27, 2026
Homebuyer Programs in Sarasota, FL (2026)
Sarasota is a Gulf Coast city of about 57,000 in Sarasota County, Florida, known for its white-sand beaches, vibrant arts scene, and Ringling Museum. With a median home price around $430,000, buyers here rely primarily on county and state assistance since the City of Sarasota does not currently offer its own down payment assistance program. The Sarasota County SHIP (HERO) Purchase Assistance Program offers up to $75,000 as a 0% interest deferred loan for eligible first-time buyers. Florida state programs including Hometown Heroes (up to $35,000) and Florida Assist (up to $10,000) add substantial additional assistance. Habitat for Humanity Sarasota also provides affordable homeownership opportunities with mortgage payments structured at less than 30% of household income. By combining county and state programs, eligible Sarasota buyers can potentially stack over $75,000 in down payment and closing cost assistance.
County Programs in Sarasota County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Sarasota County SHIP (HERO) Purchase Assistance Program | Forgivable Loan | Up to $75,000 (up to 10% of purchase price for households at 50-80% AMI; up to 15% below 50% AMI), sized to the lender-documented funding gap | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $75,000 (up to 10% of purchase price for households at 50-80% AMI; up to 15% below 50% AMI), sized to the lender-documented funding gap
- First-time only:
- Yes
State Programs in Florida
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Grant | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Florida Assist (FL Assist) Second Mortgage Program | Deferred Loan | Up to $10,000 | Yes | View → |
| Florida HFA Preferred and Advantage PLUS Program | Forgivable Loan | 3%, 4%, or 5% of the total first mortgage loan amount (HFA Advantage PLUS TBA, Freddie Mac first mortgage only) | Yes | View → |
| Florida Hometown Heroes Housing Program | Deferred Loan | Up to 5% of first mortgage loan amount, minimum $10,000, maximum $35,000 | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to $10,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- 3%, 4%, or 5% of the total first mortgage loan amount (HFA Advantage PLUS TBA, Freddie Mac first mortgage only)
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to 5% of first mortgage loan amount, minimum $10,000, maximum $35,000
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Habitat for Humanity Sarasota Homeownership Program | Zero-Interest Loan | Affordable home purchase with mortgage payments less than 30% of gross household income | No | View → |
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home purchase with mortgage payments less than 30% of gross household income
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. The Sarasota County SHIP (HERO) program serves households at or below 120% of Area Median Income for the Sarasota-Bradenton MSA. You must be a first-time homebuyer who has not owned a home in the past three years.
Step 2: Complete homebuyer education. A HUD-approved homebuyer education course is required for most programs. Habitat for Humanity Sarasota offers homeownership preparation classes covering personal finances, mortgages, and maintenance. Contact them at 941-487-5520 for class schedules.
Step 3: Get pre-approved for a first mortgage. Contact a participating lender through the Florida Housing Finance Corporation's lender network. The Florida Hometown Heroes program pairs a competitive first mortgage with up to $35,000 in down payment assistance.
Step 4: Apply for Sarasota County SHIP assistance. Visit the Sarasota County Housing and Community Development office at 4510 Fruitville Road, 2nd Floor, Sarasota during walk-in hours on Monday, Wednesday, and Friday from 9 a.m. to noon. Apply for up to $75,000 in purchase assistance through the HERO program.
Step 5: Find a home within program limits. Sarasota County programs have purchase price limits updated annually. Work with your real estate agent to find eligible properties within the program caps.
Step 6: Close on your new home. Your lender and the county will coordinate to apply all approved assistance at closing. The SHIP assistance is structured as a 0% interest deferred loan.
Frequently Asked Questions
How much down payment assistance can I get in Sarasota?+−
Does the City of Sarasota have its own down payment assistance?+−
Do I have to be a first-time homebuyer to qualify?+−
Where do I apply for the Sarasota County SHIP program?+−
Is there a Habitat for Humanity program in Sarasota?+−
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