NMLS #372580

 

Helping you build an affordable future

 

Tallahassee Lenders' Consortium, Inc.

 

Call Us:  850.222.6609x100

How Our Process Works

Read More

Tallahassee City Limits
$7,000 Maximum
Up to $12,000 less than or equal to 50% AMI


The Tallahassee Lenders' Consortium (TLC) provides down payment assistance from the City of Tallahassee to first - time home buyers like you.


Program Requirements:

There are only a few requirements to be eligible for this program:

  • You may not have owned a home for the last three years, unless you are a displaced homemaker, or your home has been determined to be substandard.
  • You must occupy the home that you buy.
  • Must contribute $500 of your own funds.
  • In order to qualify for down payment assistance, the home you buy cannot be be a mobile home or duplex.
  • You can not earn more than the income limits listed below:
Size
1
2
3
4
5
6
Income
38,300
43,800
49,250
54,700
59,100

63,500


PLEASE NOTE: These figures are your GROSS income - before taxes. These figures are subject to change annually.


DOWN PAYMENT ASSISTANCE:

The down payment assistance provided is in the form of a second mortgage loan. No interest is charged and no payments are due on the loan until any one of four things happen:

  • You sell your home
  • You refinance your home
  • You repay your loan after 30 years
  • You rent your house and are no longer living it

If any one of these four things happens, you will be required to pay off the second mortgage.



DOWN PAYMENT ASSISTANCE COVERAGE & LIMITS:

TLC's Down Payment assistance covers:


First Time Home Buyer