Authorized Partner
Quicken Loans
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Authorized Partner
Rocket Mortgage
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Authorized Partner
AmeriSave
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HomeDirect
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This direct lender is a division of Bank of Oklahoma Financial. It uses the latest technology like an online automated application system to help clients get the money and information they need as efficiently as possible. |
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Fidelity Bank
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Location
2101 Capital Cir. NE
Tallahassee, FL 32308
(850) 895-8220
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Delmar Mortgage
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Location
1684 Metropolitan Cir.
Tallahassee, FL 32308
(850) 270-9788
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On Q Financial
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Location
2015 Centre Pointe Blvd.
Tallahassee, FL 32308
(850) 213-8139
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Wells Fargo
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Location
1997 Capital Cir. NE
Tallahassee, FL 32308
(850) 320-1090
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AFS Mortgage Inc.
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Location
2450 Tim Gamble Pl., Ste. 200
Tallahassee, FL 32308
(850) 877-3990
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BB&T
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Location
3233 Thomasville Rd.
Tallahassee, FL 32308
(800) 295-5744
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University Lending Group
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Location
1501 E. Park Ave.
Tallahassee, FL 32301
(850) 296-1699
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Tallahassee is known for its beautiful lakes and hiking trails, but many consider living here for the city’s career and educational opportunities. Home prices in Tallahassee have risen slightly recently, but the median home selling price is still $180,000, which is significantly lower than the $231,000 average for Florida.
Financial advisors suggest spending no more than 28 percent of your monthly income on a mortgage. Many loans require you to pay a certain percentage of the home price upfront. While this number has traditionally been 20 percent, required down payments are now significantly less for many types of loans, making home ownership possible for more people.
Applying for mortgages in Tallahassee
Before applying for mortgage loans, it’s helpful to know your credit score. Mortgage lenders use this to determine your eligibility and interest rate. Some lenders work with people with credit scores as low as 580, and it may be possible to receive a government-backed mortgage with a score of 500.
Mortgage companies offer a variety of loans for homebuyers, and a representative from the lender can help you choose which is best for you. The most common mortgage loans in Tallahassee are:
Comparing mortgage loans in Tallahassee
Once you’ve chosen the type of loan to use for your mortgage, there may be other considerations, such as:
Some local resources could help you cover the cost of purchasing a home. The City of Tallahassee provides a Down Payment Assistance loan that helps with your down payment and closing costs up to $7,000. First-time homebuyers and low-income residents may qualify for more assistance. Some home buyers may also be eligible for a 3 percent grant.
You may also save when you purchase a fixer-upper since the Tallahassee government allocates some funds to homeowner rehabilitation costs. If you are an employee of the City of Tallahassee, you could be eligible for a $5,000 loan.
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Quicken Loans |
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Homebuyers can apply for conventional, jumbo, VA or FHA mortgages with Quicken Loans. On its secure website, you can browse loan types, calculate your monthly payments and get advice on what kind of mortgage is right for you. You can also chat with a loan expert to answer any questions you may have. Quicken Loans provides an option to lock your rate until closing the sale, too. The company offers custom-term, 15-year and 30-year loans with fixed- and adjustable-rates. |
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Rocket Mortgage |
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With Rocket Mortgage, you can apply for conventional, jumbo, FHA or VA loans. The online application process is free and convenient, in that it can be completed anywhere you have internet access at any time of day. Receive personalized loan suggestions and approval within minutes are available. Current homeowners can also refinance their loans with the company. Rocket Mortgage offers 15- and 30-year loans with fixed interest rates. |
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AmeriSave |
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AmeriSave has nearly 20 years of experience and offers a variety of loans, including FHA, VA and USDA loans with adjustable and fixed terms. AmeriSave provides cash-out refinances for current homeowners seeking better rates. Tallahassee residents appreciate the stress-free process facilitated by quick and responsive service. |
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HomeDirect |
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HomeDirect provides customers with an experienced mortgage banker who works one-on-one with the homebuyer through all steps of the lending process. The lender offers conventional and government-backed loans. Tallahassee residents appreciate the convenience of having the loan serviced through HomeDirect since it simplifies the repayment process. |
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