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FHA Loans in Tallahassee, Florida - 3.5% Down Payment Home Financing

Looking for fha loans florida in Tallahassee? As Florida's capital, Tallahassee offers stable government employment and university-driven rental demand. More affordable than coastal markets while maintaining steady appreciation. Our fha loans florida programs are designed specifically for Tallahassee homebuyers in Leon County, offering competitive rates and expert local guidance.

Why Choose FHA loans in Tallahassee?

Tallahassee's real estate market in Leon County offers unique opportunities for homebuyers. With a median home price of $$295,000, our fha loans florida programs help make homeownership accessible.

  1. Low down payment - as little as 3.5% with 580+ credit score
  2. Flexible credit requirements - accepts lower credit scores
  3. Competitive interest rates comparable to conventional loans - interest rates comparable to conventional loans
  4. Assumable loans can make your home more attractive to future buyers - loans can make your home more attractive to future buyers
  5. Government-backed by FHA for added security - by FHA for added security
Whether you're looking in popular Tallahassee neighborhoods like Midtown, Southwood, Killearn, our team has the local expertise to guide you through the fha loans florida process.

FHA loans Requirements in Tallahassee

Understanding eligibility requirements helps Tallahassee homebuyers prepare for success. Here's what you need to qualify in Leon County:

| Requirement | Details | |-------------|---------| | Min Credit Score | 580 for 3.5% down (500-579 requires 10% down) | | Down Payment | 3.5% minimum with qualifying credit | | Debt To Income | Typically 43% max (higher with compensating factors) | | Property Type | Primary residence only (1-4 units) | | Employment History | 2 years stable employment or self-employment |

These requirements apply to Tallahassee and throughout Leon County. Your individual situation may qualify for exceptions or special programs.

Required Documents for Tallahassee Homebuyers

When applying for fha loans florida in Tallahassee, you'll need to provide:

  1. 2 years personal tax returns with all schedules
  2. 2 months recent bank statements (all accounts)
  3. 30 days recent pay stubs or 2 years business tax returns if self-employed
  4. W-2 forms for past 2 years
  5. Photo identification (driver's license or passport)
  6. Employment verification letter or contact information
  7. Homeowners insurance quote (post-contract)
  8. Purchase contract (if buying)
We help Tallahassee and Leon County borrowers gather and organize all necessary documentation efficiently.

Tallahassee FHA Loan Timeline

Here's what to expect when getting fha loans florida in Tallahassee:

| Stage | Timeline | |-------|----------| | Pre Approval | 24-48 hours | | Processing | 7-14 days | | Underwriting | 3-7 days | | Closing | 30-45 days total |

Timeline may vary for Tallahassee properties based on market conditions in Leon County. We work efficiently to meet your deadlines.

Current FHA Rates in Tallahassee

Typical Rate Range: 6.5% - 7.5% APR

Rates vary based on credit score, down payment, market conditions and other factors. This is not a commitment to lend. Subject to underwriting approval.

Tallahassee homebuyers should contact us for current rates specific to their situation in Leon County. Rates change daily based on market conditions.

Tallahassee Real Estate Market Insights

Market Overview: - Median Home Price: $$295,000 - County: Leon County - Population: 196,169 - Popular Neighborhoods: Midtown, Southwood, Killearn, Betton Hills, Myers Park Market Characteristics: State capital with government jobs, Florida State University, and stable economy. Affordable housing and strong rental market.

Our local expertise in Tallahassee and Leon County helps you navigate the market and secure the best fha loans florida terms for your situation.

NMLS & Licensing Information

Louis Doherty NMLS #60093 | Edge Home Finance Corporation NMLS #891464

Licensed mortgage loan officer serving Tallahassee, Leon County, and all of Florida. Equal Housing Opportunity Lender.

All loans subject to underwriting approval. Rates, fees, and programs subject to change. This is not a commitment to lend.

Ready to Get Started with FHA loans in Tallahassee?

Contact Louis Doherty today for expert mortgage guidance in Leon County.

Call (954) 394-1959 Apply Online Calculate Payment

Frequently Asked Questions About FHA loans Florida in Tallahassee

You can qualify for an FHA loan in Tallahassee with a credit score as low as 580 for a 3.5% down payment. Scores between 500-579 may qualify with 10% down. We help borrowers throughout Leon County navigate FHA requirements.

FHA loans require just 3.5% down payment with a 580+ credit score. For a $300,000 home in Tallahassee, that's only $10,500 down. Down payment can come from savings, gifts from family, or down payment assistance programs available in Florida.

Yes, you can purchase a condo with an FHA loan in Tallahassee, but the condominium project must be FHA-approved. We can verify if a specific condo building in Tallahassee or Leon County qualifies before you make an offer.

FHA loans typically take 30-45 days to close from application to funding. The timeline can vary based on property appraisal scheduling in Tallahassee, document completion, and underwriting. We work efficiently to meet your closing deadline.

FHA loan limits in Leon County are $766,550 for single-family homes in high-cost areas (Miami-Dade, Broward, Palm Beach) or $472,030 in standard-cost counties. Contact us to confirm the exact limit for Tallahassee.

No, FHA loans are available to both first-time and repeat homebuyers in Tallahassee and throughout Florida. However, you must use the property as your primary residence.

Related Resources

Fha Loans Florida New Home Purchases Mortgage Calculator The Home Finance Guide More Tallahassee Mortgage Options All Florida Cities