Tallahassee Lenders’ Consortium (TLC) – Leon County Down Payment Assistance Program
Special Alert
Maximum Purchase Price
$349,525
Contact Info:
Municipality
Limitations
Credit Score 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, USDA / RD
Homeowners Education Class:
Required
Is Forgivable?
No forgiveness
Location:
1 County: Leon Must be within the Leon County limits.
Income Limitations:
Yes, based on Compliance Income (including household income) Income limits from HUD 2022 120% AMI guidelines Income cannot exceed 120% AMI.
Maximum Assistance
$10,000 Assistance amounts vary based on income levels: Up to $7,500 (120% AMI or below) Up to $10,000 (80% AMI or below). If 203K (Renovation) loan, amounts go up to $15,000 (50% AMI or below) Up to $10,000 (max AMI limit 120%). The intake counselor will determine whether you meet these guidelines.
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:
$500 As the homeowner, you are required to put $500.00 of your own monies into the transaction. It’s best to save around $1200- $2000 for other out of pocket pre-purchase expenses related to the purchase.
Qualifying Ratios:
Housing Ratio: Up To 33% Total DTI: Up To 42%
