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THDA Home Loans

THDA Home Loan Highlights

Below are highlights of the Tennessee Housing Development Agency (THDA) Great Choice Plus Loan program.


Deferred Option (No Payment)

Qualified applicants may receive $6,000 in assistance in the form of a forgivable second mortgage. The loan has a 0% interest rate and payments are deferred and forgiven at the end of the 30 year term. The loan must be repaid in full if the home is refinanced or sold.

Amortized Option (Payment)

Qualified applicants may receive 6% of the home sale price in assistance in the form of a second mortgage that is paid monthly over 15 years at an interest rate equal to that of the first mortgage.

Not Just for First-Time Homebuyers

Repeat homebuyers in 43 targeted Tennessee counties, and designated areas of 15 additional counties, may qualify for the program. Repeat homebuyers can check targeted counties and areas here.

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


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