City of Chattanooga First-Time Homebuyer Grant and Loan Program

Administered by: City of Chattanooga / Chattanooga Neighborhood Enterprise (CNE) · City · Grant

Funding status: Active

How much assistance

Up to $10,000 grant plus up to $50,000 zero-interest loan (below 80% AMI) or $40,000 loan (80-100% AMI) (Grant)

Loan is due and payable in full at the time of resale or cash-out refinance.

Eligibility

  • Income limits: At or below 100% AMI. Below 80% AMI qualifies for highest assistance ($50,000 loan). 80-100% AMI qualifies for $40,000 loan.
  • Purchase price limit: $300,000
  • First-time buyer required: Yes — First-time homebuyer.
  • Geographic restrictions: City of Chattanooga, Tennessee.
  • Homebuyer education required: Yes

How to Apply for City of Chattanooga First-Time Homebuyer Grant and Loan Program

Step 1: Contact Chattanooga Neighborhood Enterprise (CNE) to apply. Must contribute a minimum of $500 toward the purchase. Must use the home as a primary residence. Must attend homebuyer education classes.

Visit program website

Notes

Launched June 2023. Two-family owner-occupied homes and condominiums are also eligible. Combines a one-time closing cost grant with a 0% interest deferred loan. Verify current funding availability with CNE.

Cities Where This Program Is Available