For first time homebuyers in Tallahassee, the TLC’s Down Payment Assistance (DPA) program offers a no-interest loan to help pay for closing costs and the home’s initial downpayment. The loan covers costs in an amount up to $7,000 for homes that are purchased within Tallahassee city limits.

Homeowners who take advantage of the program are required to put forth $500.00 out of pocket towards the purchase. It is advisable to save an additional $1200- $2000 for  pre-purchase expenses, such as inspections and surveys.

Some low-income clients qualify for additional monetary assistance of up to $12,000. A qualified intake counselor will help determine if you meet the guidelines for downpayment assistance.

The  loan is secured at zero interest with no payments required. Additionally, it is payable upon:

  • Sale
  • Refinance
  • No longer primary residence
  • Maturity of first mortgage (Depends Upon Terms)
  • Abandonment
  • Bankruptcy
  • Foreclosure

For more information about downpayment assistance click here or contact a local Tallahassee REALTOR® ANN HUSKEY – 850 212 1982 – ANNHUSKEY@HOTMAIL.COM

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