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Get Matched Free →First-Time Homebuyer Programs in Tennessee
Tennessee offers robust homebuyer assistance through the Tennessee Housing Development Agency (THDA). The Great Choice Home Loan program provides 30-year fixed-rate mortgages with down payment assistance of up to $6,000 as a forgivable second mortgage or up to $15,000 as a repayable loan. The Homeownership for Heroes program gives veterans, active military, and first responders a 0.5% reduced interest rate and waives first-time buyer requirements.
Statewide Programs in Tennessee
- THDA Great Choice Home Loan
Government-Insured Mortgage · 30-year fixed-rate first mortgage used with FHA, VA, USDA-RD or conventional financing (up to 96.5% financing on FHA, 100% on VA/USDA-RD); optional Great Choice Plus DPA of 5% of price up to $15,000 (amortizing) or $6,000/$10,000 (deferred, forgivable after 10 years)
- THDA Great Choice Plus - Amortizing Option
Repayable Loan · Up to 5% of the purchase price, maximum $15,000
- THDA Great Choice Plus - Deferred Option
Forgivable Loan · $6,000 forgivable second mortgage
- THDA Homeownership for Heroes
Government-Insured Mortgage · 0.50% interest rate reduction on a THDA Great Choice Home Loan (FHA, VA or USDA-RD only); optional Great Choice Plus DPA of up to 5% of price (max $15,000) amortizing, or $6,000/$10,000 deferred and forgivable
Cities in Tennessee
Bartlett
Shelby County
Chattanooga
Hamilton County
Clarksville
Montgomery County
Collierville
Shelby County
Franklin
Williamson County
Gallatin
Sumner County
Hendersonville
Sumner County
Jackson
Madison County
Johnson City
Washington County
Kingsport
Sullivan County
Knoxville
Knox County
Memphis
Shelby County
Murfreesboro
Rutherford County
Nashville
Davidson County
Smyrna
Rutherford County
Spring Hill
Maury County