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THDA HHF

Updated: Jan 28

The TN Housing Development Agency offer buyers all across the state of Tennessee options for mortgages and downpayment assistance. The Great Choice Loan program is their featured programs that offers affordable mortgage options for TN residents.

Additionally, there are 2 options for downpayment assistance Great Choice Plus & Hardest Hit Fund, HHF.

The Hardest Hit Fund was established to reinvigorate zipcodes that were effect the most after the housing recession in the 2000s.

Why should you look into this program? Funds are almost out!

Here are the details regarding this fund and if you or your clients may qualify.

1. Property must be in the list of Hardest Hit zipcodes

2. Max home's sales price varies by county, see cheat sheet above or click here for a list of all counties.

3. Min credit score 640

4. Up to $15,000 as a 0% loan for 30 years, forgivable by 20% after year 6.

5. You, the buyer, must complete an 8hr Homebuyer Counseling Class.

6. There are household income limits depending on the number of people in your household:

Example: Shelby County: 1-2 people $64,200, 3+ people $73,830

7. Must be a First Time Homebuyer or have not owned a home in 3yrs.



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