Down Payment Assistance Limits

​​​​​​​​The Tallahassee Lenders' Consortium provides down payment assistance from the City Of Tallahassee. The Down Payment Assistance (DPA) is a LOAN. It pays for some of your down payment and closing costs up to $7,000 for homes purchased in the City limits. As the homeowner, you are required to put $500.00 of  your own monies in. It’s best to save around $1200- $2000 for other out of pocket pre-purchase expenses related to the purchase.

Very low-income clients (50% or below AMI) may qualify for down payment assistance up to $12,000. The intake counselor will determine whether you meet these guidelines.


The down-payment is secured by a second or third mortgage loan at zero interest with no required payments. However, if either of the events listed happens the loan has to be paid back in full.

1. Sale                                                    
2. Refinance    
3. No longer occupies as primary residence 
4. Maturity of first mortgage (Typically 30 years)
5. Abandonment

6. Bankruptcy

7. Foreclosure


At the end of the 30 year mortgage, a balloon payment of the balance is due in full. You can make payments any time at any amount. The best practice is to make throughout your 30 years.


Sales Price Limits
The program limits the sales price of homes.  Existing homes may not exceed the price of $179,000 and new home construction may not $243,000.


Income Limits

Income Category

Persons in Household


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Extremely Low30% of AMI $16,050   $18,350   $20,650 $22,900$24,750$26,600$28,400 $30,250
Very Low50% of AMI$26,750 $30,550$34,350 $38,150 $41,250$44,300 $47,350   $50,400
Low80% of AMI$42,750$48,850$54,950$61,050$65,950$70,850$75,750$80,600










       

How to Apply

To initiate the application process, click on the following link: City DPA Application.  Once registered, select To Apply for Down Payment Assistance. You must have a commitment from an Approved Member Lender before starting your application for Down Payment assistance.  For additional information or help completing the online application, contact:

Quinton Williams

Loan Originator, NMLS# 1621367 

850.222.6609 x109 

qwilliams@tallahasseelenders.org


 Voicemail and email messages will be answered no later than the close of business the next day.

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   NMLS #372580

​​​​​Tallahassee Lenders' Consortium, Inc

dba TLC