BayFirst National Bank And Sarasota Housing Authority Launch Program To Address Affordable Housing Crisis

September 20, 2023

SARASOTA, Fla. (September 18, 2023) – To address concerns about the availability of affordable housing in the Sarasota area, locally based bank BayFirst has launched the Community Development Landlord Purchase Program created in partnership with Sarasota Housing Authority (SHA) to better assist and recruit landlords offering Section 8 housing in the area.
Announced at an event hosted by BayFirst and SHA on September 14 and attended by more than 80 local landlords, the program will fund the purchase of one-to-four family rental units up to $350,000 located within the Sarasota Metropolitan Statistical Area (MSA) and servicing Section 8 renters. With a minimum FICO score of 700 and additional requirements, investors can qualify for a mortgage loan up to 80% of the property’s appraised value. BayFirst has earmarked $5 million for this program.

Click here to read the full press release.

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