Tallahassee Lenders’ Consortium (TLC) – City of Tallahassee Down Payment Assistance Program
Special Alert
Maximum purchase price limits vary depending on whether you are purchasing a new construction vs. existing home. Review program guidelines for relevant details.
Maximum Purchase Price
$256,000
Contact Info:
Municipality
Limitations
Retail
Credit Score Requirements
Based on 1st mortgage requirements.
Deferred Payments?
Determined by first mortgage product or lender.
Accepted First Mortgage Type:
Freddie Mac, Freddie Mac HFA Advantage, Freddie Mac Home Possible, Fannie Mae, Fannie Mae HFA Preferred, Fannie Mae HomeReady, FHA 203(b), VA
Homeowners Education Class:
Required
Is Forgivable?
No forgiveness
Location:
Tallahassee Must be within the Tallahassee city limits.
Income Limitations:
Yes, based on Compliance Income (including household income) Income limits from HUD 2022 80% AMI guidelines Cannot exceed 80% AMI.
Maximum Assistance
20% of Purchase Price Eligible applicants could qualify for up to 20% of the purchase price for down payment and closing cost assistance. The intake counselor will determine whether you meet these guidelines. NOTE: The down payment assistance (DPA) is a LOAN.
Education Requirements Info:
You must attend the 2-hour Home Buyer Readiness Workshop and 8-hour Home Buyer Education Class. Homebuyer Readiness: https://www.tallahasseelenders.org/buyer-readiness-workshop.html Homebuyer Education Classes: https://www.tallahasseelenders.org/home-buyer-education-course.html Contact Provider for additional information regarding Post-Closing Education Requirements.
Eligible Property Types:
Single Family Detached Condo Townhome/PUD
Income By Household Size:
HH1HH2HH3HH4HH5HH6HH7HH8 $45,500$52,000$58,500$64,950$70,150$75,350$80,550$85,750 *Income limits as of 05/24/2023
Qualifying Ratios:
Determined by first mortgage product or lender.
