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Home purchase

Buy a home in Tallahassee, Florida with a clear path from pre-approval to closing

A home purchase loan lets you finance a house, condo, or townhome with a down payment as low as 0–3.5% on many programs. Lina Geffrard compares conventional, FHA, VA, USDA, jumbo, renovation, and construction options against your income, credit, and local down payment assistance so you know what you can afford before you shop.

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NMLS #2611343 · Licensed in FL, MI, NC

Your situation

Which kind of buyer are you?

First-time buyer

Buying your first home? See 3% down options, local assistance programs, and the documents you'll need.

First-time buyer guide →

Move-up / next home

Selling and buying at the same time? Bridge options, contingent offers, and using your equity as a down payment.

Talk through timing →

Investment / rental

Financing a rental or second home with conventional, DSCR, or bank-statement loans built for investors.

Investor options →
How a purchase works

From pre-approval to keys in 4 steps

  1. Get pre-approved

    Apply online. We review credit, income, and assets and issue a pre-approval letter you can use when you make an offer.

  2. Shop with a budget

    Know your max payment, cash to close, and which programs fit before you fall in love with a house.

  3. Under contract

    We lock your rate, order the appraisal and title, and clear underwriting conditions.

  4. Close & move in

    Sign documents, fund the loan, and get the keys. We keep you and your agent updated the whole way.

Loan programs

Purchase loan options

Every program page explains who it fits, minimum down payment and credit, mortgage insurance, and the questions buyers ask most.

Conventional

As little as 3% down (HomeReady / Home Possible). PMI can be canceled once you reach ~20% equity.

Conventional details →

FHA

3.5% down and credit scores as low as 580. Strong option when cash or credit is tight.

FHA details →

VA

0% down for eligible veterans, service members, and surviving spouses. No monthly mortgage insurance.

VA details →

USDA

0% down in eligible rural and suburban areas, with income limits. Many Florida zip codes qualify.

USDA details →

Jumbo

For purchases above the conforming loan limit in Leon County. Strong credit and reserves usually required.

Jumbo details →

FHA 203(k) / Renovation

Buy and renovate with one loan. Finance repairs and improvements into the purchase.

Renovation loans → One-Time Close

New Construction

Finance the lot, the build, and your permanent mortgage with one closing.

OTC construction →

Condo Financing

Warrantable and non-warrantable condos, FHA-approved projects, and HOA review tips.

Condo loans →
Local help

Down payment assistance in Florida

Tallahassee and Leon County are often among North Florida's more attainable places to buy, especially compared with coastal metros, and they offer a mix of in-town, suburban, and nearby rural neighborhoods around Florida's capital city. The Tallahassee area's typical sale prices sit well below the 2026 FHA loan limit, so loan limits are rarely the binding constraint for a local first-time buyer. Inventory and days on market still shift with rates, so buyers who are pre-approved and clear on payment comfort usually negotiate better than shoppers still guessing at affordability. Condos, townhomes, and some planned communities can open doors at lower price points; always confirm homeowners association dues and any special assessments before you lock a budget.

Down payment help

Florida Assist (Florida Housing Finance Corporation)

Statewide down payment and closing cost help of up to $10,000, offered as a zero-interest, deferred second mortgage with no monthly payment. It is not forgiven; the balance comes due if you sell, refinance, transfer the home, or stop living there as your primary residence. You must use it with a Florida Housing first mortgage (it is not stand-alone assistance), meet income and purchase-price limits for the county, have at least a 640 credit score, complete an approved homebuyer education course, and generally meet the first-time homebuyer rule (you have not owned and occupied a primary residence in the past three years).

Program details (opens in new tab) →
Down payment help

Florida Hometown Heroes Housing Program

Down payment and closing cost help of up to 5% of the first mortgage (minimum $10,000 and maximum $35,000) as a zero-interest, 30-year deferred second mortgage with no monthly payment. It is not forgiven; the balance comes due if you sell, refinance, transfer the home, or stop living there as your primary residence. For 2026 it is limited to first-time, income-qualified buyers in eligible workforce jobs (including health care workers, school staff, first responders, public safety or court employees, and child care workers) who work full time for a Florida-based employer, plus U.S. military or Coast Guard servicemembers, reservists, Florida National Guard members, and veterans employed full time by a Florida-based employer. Active-duty servicemembers and veterans are not required to be first-time buyers. It must be paired with a Florida Housing first mortgage.

Program details (opens in new tab) →
Down payment help

Leon County and City of Tallahassee Down Payment Assistance

Leon County and the City of Tallahassee each offer down payment and closing cost help for first-time homebuyers, administered through the Tallahassee Lenders' Consortium and funded mainly through Florida's State Housing Initiatives Partnership. For a home in unincorporated Leon County, help is a zero-interest, deferred loan that is forgiven at the end of the loan term (10 years for a standard purchase, 30 years for a community land trust home) if the loan stays in good standing. Awards are $10,000 for very low- or low-income buyers on an existing home ($7,500 for moderate-income buyers), and higher for community land trust or newly constructed or rehabilitated homes (up to $25,000, depending on income category). For a home inside Tallahassee city limits, help is a zero-interest, deferred second mortgage that is fully forgiven at the end of the 15th year if the loan stays in good standing; the City's adopted plan caps the award at $50,000, and the maximum is not awarded in every case (the City says the amount is based on need). Both programs require an approved first mortgage, a homebuyer education course, and a $500 contribution from the buyer. Income, asset, and purchase-price limits apply and can change, and funding availability can change, so ask which program applies to the property and what is available now.

Program details (opens in new tab) →

Florida Homebuying Guide First-time buyer page →

Program terms change. Updated 2026-11-11.

What it costs

What you need to buy a home

Cash to close usually includes

  • Down payment (0–20%+ depending on the program)
  • Closing costs (often 2–5% of the loan amount)
  • Prepaid taxes and insurance (escrow)
  • Appraisal and inspection fees

Florida charges a documentary stamp tax on documents that transfer Florida real property: 70 cents per $100, or portion thereof, of the consideration in every county except Miami-Dade, where a different rate and surtax apply. A promissory note and a recorded mortgage are also subject to documentary stamp tax at 35 cents per $100, or portion thereof, and Florida charges a nonrecurring intangible tax of 2 mills (0.002) on an obligation secured by a mortgage on Florida real property. Closings are typically handled by a title company, sometimes with an attorney. By custom the seller often pays the documentary stamp tax on the deed and the owner's title insurance policy, and the buyer pays the documentary stamp tax on the note and mortgage, the intangible tax, the lender's title policy, and loan-related costs, though all of it is negotiable in the contract.

Pre-approval vs. pre-qualification

Pre-qualification is a soft estimate from what you tell us. Pre-approval includes a credit check and verified income and assets, and sellers take it seriously. Get pre-approved before you shop.

Start pre-approval

Buyer questions

Buying a home: FAQs

How much house can I afford on my salary?

Most lenders look for total monthly debts, including the new house payment, around 36–45% of gross monthly income (some programs allow more). A $70,000 salary ($5,833/month) with few other debts often supports a total payment of about $2,000–$2,400. Rate, taxes, insurance, and down payment set the final price. A pre-approval gives you your real number.

How much down payment do I need for a $300,000 house?

At 3% conventional: $9,000. At 3.5% FHA: $10,500. VA and USDA can be $0 down if you qualify. You'll still need funds for closing costs unless seller credits or down payment assistance cover them.

Is $10,000 enough to buy a house?

Often yes. $10,000 can cover a 3–3.5% down payment on a home around $285,000–$330,000. Seller credits or local assistance programs in Florida can help with closing costs.

What are the requirements to buy a house?

Typical requirements: enough income and a manageable debt-to-income ratio, a credit history that fits the program, funds for the down payment and closing costs (or assistance), and a property that appraises and meets the loan's standards. Exact rules differ by program.

Do you pay back an FHA loan?

Yes. An FHA loan is a regular mortgage you repay monthly. FHA insures it for the lender, which allows lower down payments and credit scores. Some down payment assistance paired with FHA is a grant or forgivable second loan that may not need to be repaid.

What questions should I ask my lender?

Ask: What is my estimated cash to close and monthly payment (PITI)? Which programs fit my credit and down payment? Are there first-time buyer or local assistance options? What fees are lender fees vs. third-party? How long will underwriting and closing take? Will you lock my rate, and what does the lock cost?

What is the 3-3-3 rule for buying a house?

A popular budgeting tip: aim for 3 months of expenses saved after closing, keep housing costs near 30% of take-home pay, and avoid buying if you'll move within 3 years. It isn't a lender rule. Your qualification is based on underwriting guidelines, not the 3-3-3 rule.

What local down payment help is available?

Yes. Florida Housing Finance Corporation offers statewide help that must be paired with a Florida Housing first mortgage. Florida Assist provides up to $10,000 as a zero-interest, deferred second mortgage with no monthly payment. The Florida Hometown Heroes Housing Program can provide up to 5% of the first mortgage (minimum $10,000 and maximum $35,000) for eligible workforce, military, and veteran buyers. Florida Housing also offers a $12,500 Florida Homeownership Loan Program second mortgage that does have a monthly payment, and a 3%, 4%, or 5% forgivable second mortgage when used with certain conventional Florida Housing first mortgages. In the Tallahassee area, Leon County and the City of Tallahassee also run local down payment assistance programs, administered through the Tallahassee Lenders' Consortium, with terms and funding that change, so ask which options are open for the property you want.

Educational answers only. Not a loan offer or commitment to lend. Eligibility depends on your situation and current guidelines.

Ready to get pre-approved?

Apply online in about 15 minutes, or book a call with Lina at (561) 938-6165.

Get Pre-Approved Book a Call

Self-employed or buying an investment property? Traditional paperwork isn't the only route. See which Non-QM options may fit in about a minute.

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