Shelby County Down Payment Assistance Program
Funding status: Active
How much assistance
Up to $6,000 (Repayable Loan)
3% fixed interest rate with repayment terms up to 15 years (180 months).
Eligibility
- Income limits: Household income must not exceed $81,000 for all household sizes
- Purchase price limit: $300,000
- First-time buyer required: No
- Geographic restrictions: Home must be located within the boundaries of Shelby County, TN.
- Homebuyer education required: Yes
How to Apply for Shelby County Down Payment Assistance Program
Step 1: Contact the Shelby County Department of Housing at (901) 222-7614 weekdays between 8:00 a.m. and 4:30 p.m. and ask to speak with Down Payment Assistance Loan Counselor Darren Bortters. Complete a certified Homebuyer Education Class. Qualify for THDA, FHA, VA, or conventional financing. Invest a minimum of $500 of your own funds. Maintain debt ratios not exceeding 45% total debt.
Notes
Program assists low and moderate income individuals with down payment and closing costs for homes within Shelby County. Income limits are adjusted annually and follow THDA guidelines. Verify current limits with the department.