THDA Home Loan Highlights
Below are highlights of the Tennessee Housing Development Agency (THDA) Great Choice Plus Loan programs.
Up to $7,500 Down Payment/Closing Cost Assistance
Qualified applicants may receive $7,500 in assistance for homes with a purchase price of $150,000 or greater. Homes with a purchase price under $150,000 are eligible for $6,000 in assistance.
Available Anywhere in Tennessee
All qualified residences of Tennessee may take advantage of this program.
15-Year Second Mortgage
Assistance through the program is in the form of a 15-year term second mortgage with an interest rate equal to that of the first mortgage.*
Household Income and Purchase Price Limits
While relevant limits are generous, eligibility requires current income and home purchase price to be under certain maximum amounts which vary by county and household size. You can check your county's limits here.
*Repayment of the second mortgage balance is required if home is sold or refinanced.