Tallahassee’s median sale price rose 4.2 % year-over-year to $280,000, but the rate of growth is cooling from the 14 % spike we saw in 2021. Inventory sits at 2.3 months—tight, yet double what it was during the pandemic rush—giving pre-approved buyers room to negotiate inspection repairs or seller-paid closing costs up to 3 % of the purchase price. New construction is surging in the northeast corridor along Centerville Road, where builders like David Weekley and JR Lyons are offering $5,000–$10,000 incentives toward rate buy-downs when you use their preferred lender—something NMHL can match or beat with our Builder Beat Program that credits up to 1 % of the loan amount.

Investors are shifting from student-rental duplexes around FSU to single-family homes in Lincoln and Buck Lake elementary districts, driving appreciation in the 32311 zip to 7.1 %. If you’re a first-time buyer competing against cash offers, NMHL’s Certified Homebuyer program underwrites your file up front, turning your financed offer into the equivalent of a 20-day cash close—winning 92 % of the time in multiple-offer scenarios last quarter.

• Betton Hills & Waverly Hills: Mid-century brick ranches averaging $325 K. Best for conventional 5 % down or FHA 203(k) renovation loans; mature trees keep appraisals steady.
• All Saints & Gaines Street: Industrial lofts and new mid-rise condos from $215 K. NMHL’s HomeReady product lets you put only 3 % down and count roommate boarder income toward qualifying.
• Killearn Estates & Lakes: 1970s–1990s subdivisions with HOA amenities. Prices range $260–400 K. VA funding fee is reduced here if you’re ATR (active-duty) because Leon County is considered a low-to-moderate-cost area by the VA.
• Frenchtown & Southside: Revitalization zones eligible for Community Land Trust discounts. Pair with Leon County’s HIP down-payment grant for $40 K of forgiven equity after 10 years.

Florida Housing’s Florida Assist offers a $10,000 deferred second mortgage at 0 % interest, forgivable after you live in the home five years. Leon County layers an additional $7,500 for closing costs if your household income is below 80 % of AMI—$56,320 for a single buyer. Because NMHL is a participating lender for both programs, we can stack the subsidies on the same closing disclosure, meaning many borrowers walk into a $280 K home with less than $1,500 total cash after inspection and earnest-money credits.

Teachers, first responders, and veterans get an extra $2,500 through the Hometown Heroes initiative, pushing total assistance to $20,000. The only catch: you must complete a free two-hour eHome America course (online, Tallahassee-specific) before closing. Our loan coordinators enroll you automatically when you submit your NMHL pre-approval application.

Leon County’s millage rate is 7.5612 mills, but the headline number that matters is 0.88 % of assessed value after homestead exemption. On a $280 K purchase, the assessed value is typically 85 % of sale price, minus the $50,000 homestead exemption, yielding a taxable value of $188 K. Multiply by 0.88 % and divide by 12: roughly $138 a month. Add in city garbage and storm-water fees and you’re still under $160—cheaper than most HOA dues in Jacksonville.

Key deadline: March 1 to file homestead, disability, or veteran exemptions. NMHL closes every loan with a Property-Tax Concierge who files the paperwork for you; last year 96 % of our clients saw their assessed value drop in year two, not rise like the rest of Florida.

Whether you run a lobbying firm near the Capitol or flip barbecue plates at Bradfordville Blues Club, traditional tax-return underwriting can slash your qualifying income by 30–40 % after depreciation. NMHL’s 12- or 24-month bank-statement program uses gross deposits instead, averaged and multiplied by your expense factor (typically 15 %). On $150 K in annual deposits, that yields $127,500 usable income—enough for a $400 K purchase with 10 % down.

We also accept profit-and-loss statements signed by your CPA if you’re a licensed contractor in Leon, Gadsden, or Wakulla counties. Rates start at 0.75 % above conforming 30-year fixed, and you can still pair the loan with Leon County’s closing-cost grant if you stay under the income cap.

VA buyers represented 18 % of NMHL Tallahassee closings last year, and the average funding-fee exemption saved them $6,740 up front. Because Leon County is designated a low-cost area by the VA, the zero-down limit is $726,200—more than double the median price, so jumbo amounts never enter the conversation. Combine that with Florida’s property-tax portability for disabled vets: if you’re rated 10 % or higher, you receive an additional $5,000 homestead exemption, trimming another $40 off your monthly escrow.

VA construction loans are booming in Welaunee Plantation and Canopy. Buy a lot for $65 K, roll in the $325 K build cost, and close with $0 down. NMHL locks your 30-year rate at pre-start construction, protecting you from the 0.75 % hikes we’ve seen since 2022.