Existing Homes:  $162,000.00

Other programs available for Down Payment Assistance not through TLC...

The Tallahassee Lenders' Consortium (TLC) provides down payment assistance from Leon County to first-time home buyers. It pays for some of your down payment and closing costs up to $7,000 for homes purchased in the County (Leon) 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.

Low-income clients (80% or below AMI) may qualify for down payment assistance up to $10,000. If 203K (Renovation) loan, amounts go up to $15,000 and $10,000 respectively. 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. The loan is due back in payments of $500 or greater, and payable upon :

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


Income Limits

Leon County Income Limits

Income CategoryPersons In Household









12345678
Extremely Low30% of AMI $14,500 $16,910$21,330$25,750$30,170$34,590$39,010$43,430
Very Low50% of AMI $24,150 $27,600 $31,050$34,450$37,250 $40,000$42,750 $45,500
Low80% of AMI $38,600 $44,100 $49,600 $55,100$59,550 $63,950$68,350 $72,750
Moderate120% of AMI $56,640 $64,800 $72,840 $80,880 $87,360 $93,840 $100,320 $106,800



















How to Apply


You must use one of TLC's approved Member Lenders. Your lender will know how to apply for the Leon County Down Payment Assistance program. You just need to make sure you let your lender know that you wish to utilize down payment assistance through The Tallahassee Lenders' Consortium. Your lender will submit to us a Reservation Packet on your behalf and one of our Homeownership Specialist will contact you to schedule your first appointment for DPA.


Questions Contact JaLisa Maxwell jmaxwell@tallahasseelenders.org or call 850-222-6609 x109

or Gwen Lightfoot glightfoot@tallahasseelenders.org or call 850-222-6609 x105


   Sales Price Limits Cannot Exceed

In order to be eligible to receive Down Payment Assistance you must attend the 2 hour Home Buyer Readiness Workshop and the 8 hour Home Buyer Education Class as well meeting the income guidelines listed below. In addition, You must use one of TLC's Approved Member Lenders and Home Inspectors.

Big Bend Habitat for Humanity

In order to qualify for them, it is mandatory that you are currently in substandard housing. They also have income limits.

Contact 850-574-2288


www.bigbendhabitat.org

   Sales Price Limits Cannot Exceed

   New Construction Homes:  $227,000.00

   New Construction Homes:  $283,348.000

   Existing Homes:  $283,348.00

Florida Housing Finance Corporation

They offer some down payment assistance programs. Their income guidelines are higher than ours. They have certain lenders.

Contact 850-488-4197


www.floridahousing.org 

Escambia County Housing Finance Authority


Offers down payment assistance to Jefferson, Gadsden, Leon, Wakulla and many other counties.

They will loan you up to $7,500 DPA

They have there own member lenders and their income limits are higher than ours
.


www.escambiahfa.com

Escambia Bond Homeownership Program

Down Payment Assistance Programs Available

USDA Rural Development

Caters to Franklin, Gadsden, Leon and Wakulla County. They will loan you funds as long as you fall in their income guidelines. Their office is located in Marianna. Dial (850) when contacting.

Contact 850-526-2610


www.usda.gov

​​​​​​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.


INCOME LIMITS

City Down Payment Assistance Income Limits

Income Category

Persons in Household


12345678
Extremely Low30% of AMI $14,150   $16,910   $21,330 $25,750$30,170$34,590$39,010 $43,430
Very Low50% of AMI$24,150  $27,600$31,050 $34,450 $37,250$40,000 $42,750   $45,500
Low80% of AMI$38,600$44,100$49,600$55,100$59,550$63,950$68,350$72,750













How to Apply

To initiate the application process, click on the following link: City DPA Application; and 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, call JaLisa Maxwell at 850.222.6609 x109 and ask for assistance with the Down Payment Assistance program or e-mail jmaxwell@tallahasseelenders.org. Voicemail and email messages will typically be answered by no later than the close of business the next day.

​​​​​Tallahassee Lenders' Consortium, Incd/b/a TLC

 

Call Us:  850.222.6609x100

   NMLS #372580

 

Helping you build an affordable future