🏆 TOP 10 Down Payment Programs! 🔥
1.THDA Great Choice Plus (Statewide)
✔️ Up to 5% of purchase price (max $15,000)
✔️ Can be used for down payment + closing costs
✔️ Two options:
- Deferred $6,000 (0% interest, no monthly payment)
- Amortized second mortgage🔹 Must pair with THDA Great Choice loan
2.THDA Homeownership for Heroes
(For Military, Veterans, First Responders)
✔️ Reduced interest rate (0.5% lower)
✔️ Can combine with Great Choice Plus
✔️ VA, FHA, USDA, Conventional eligible
✔️ No first-time buyer requirement for vets
3.THDA HFA Advantage Plus (Conventional Buyers)
✔️ 3% down conventional option
✔️ Can pair with DPA similar to Great Choice Plus
✔️ Income limits apply
✔️ Great for buyers who don’t want FHA
4.The Housing Fund (Middle TN / Nashville Area)
✔️ Up to $35,000
✔️ For down payment + closing costs
✔️ 10–15 year repayment
✔️ Income + location based
5.City of Memphis Homebuyer Assistance
✔️ Up to $25,000 or 10% of purchase price
✔️ Forgivable after 5–10 years
✔️ Must buy in Memphis
✔️ Income + occupancy rules
6.Chattanooga Neighborhood Enterprise (CNE)
✔️ Up to $25,000
✔️ Second mortgage or forgivable options
✔️ Chattanooga + surrounding counties
✔️ Income + purchase price limits
7.USDA Rural Development (0% Down)
✔️ 100% financing (no down payment)
✔️ Rural eligible areas
✔️ Income limits apply
✔️ Often combined with seller concessions
8.VA Loan (0% Down for Veterans)
✔️ No down payment required
✔️ No monthly PMI
✔️ Can still pair with some local grants
✔️ Best option for eligible military buyers
9.Local County & City Housing Authority Grants
Examples:
- Clarksville Housing Authority
- Knoxville Affordable Housing
- Nashville MDHA (Often forgivable grants, Highly location + income specific)
10. Employer-Based & Nonprofit Programs
Examples:
- Hospital systems
- Teachers programs
- Credit union housing grants
- Church & nonprofit housing programs (Can range from $2,500–$15,000+)
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🏆 TOP 10 Down Payment Programs! 🔥
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