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Compare Sarasota, FL mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Sarasota.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Sarasota. Plus, shopping lenders is free and there is no obligation.
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Compare Today's Sarasota, FL Mortgage Rates
March 20, 2023
Current mortgage rates in Sarasota, FL are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)
Mortgage Program
Today's Sarasota, FL Rates
National Average
Comparison
30 Year Fixed Rate
%
6.600%
15 Year Fixed Rate
%
5.900%
5/1 Adjustable Rate Mortgage
%
6.125%
How Affordable is Housing in Sarasota, Florida?
Below we provide helpful information on the real estate market, home prices and housing affordability in Sarasota. Understand how much you need to earn to afford a home in Sarasota, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Sarasota fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Sarasota is right for you.
The median home value for Sarasota, FL is $409,338
Based on current mortgage rates and a 10% down payment, you need to make $85,394 per year to buy the median priced home in Sarasota
With this income, you could qualify for a $368,404 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Sarasota is $1,978
The median household income for Sarasota, FL is $72,809
Based on this income, you can afford a home valued at approximately $349,008
The home price you can afford to buy based on household income in Sarasota is 85% of the median home value which means housing prices are expensive.
Sarasota ranks 56 out of 67 counties in Florida and 2,954 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Sarasota, FL is expensive
Loan Limits for Sarasota, Florida
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Sarasota below.
Conforming loan limits for Sarasota, FL
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Sarasota, FL
1 unit:$506,000
2 units:$647,750
3 units:$783,000
4 units:$973,100
VA loan limits for Sarasota, FL
1 unit:$726,200
Additional Mortgage Resources for Sarasota, FL Residents