The City of Clarksville’s Office of Housing and Community Development established the First Time Home-Buyers Program, which is designed to help income-eligible applicants with down payment and closing cost assistance to purchase their first home within the City of Clarksville. 

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First Time Home-Buyers Program

Financial Assistance for Homebuyers in Tennessee

The City of Clarksville’s Office of Housing and Community Development recognizes that many first-time homebuyers need help paying initial, upfront costs in a mortgage transaction. That’s why the Office established the First Time Home-Buyers Program, which is designed to help income-eligible applicants with down payment and closing cost assistance to purchase their first home within the City of Clarksville. Down Payment funds are provided as a second mortgage, fully forgiven as long as the borrower lives in the house for at least five years and one month. Closing costs provided are due upon sale or other transfer.

Income Limits
There are a number of requirements that eligible applicants must meet to avail the First Time Home-Buyers Program. The program is designed to assist families that fall within and 50 percent to 80 percent area median income for Clarksville. 

1 person household: $19,000-$30,350
2 person household :$21,700-$34,700
3 person household: $24,400-$39,050
4 person household: $27,100-$43,350
5 person household: $29,300-$46,850
6 person household: $31,450-$50,300
7 person household: $33,650-$53,800

Note: these figures were accurate at the time of publication and may no longer be current - visit the program website for updated information.

Eligibility Requirements
The program is only available for first-time homebuyers; those who have not owned a primary residence in the last three years. There are exceptions made for displaced homemakers (adults who owned homes with their spouse or resided in a home owned by a spouse) or single parents (individuals who are unmarried and have one or more minor children for whom the individual has custody or joint custody).

Property Guidelines
Properties eligible under the First Time Home-Buyers Program are single family homes, townhouses and or condominiums located anywhere within the City of Clarksville with a maximum purchase price of $271,050. Home inspections are also required, and all properties must meet the City of Clarksville Housing Maintenance Code. In the case of homes built before 1978, an assessment for lead-based paint is also mandatory. spacer

Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

Down Payment Grants in Tennessee

The City of Clarksville’s Office of Housing and Community Development established the First Time Home-Buyers Program, which is designed to help income-eligible applicants with down payment and closing cost assistance to purchase their first home within the City of Clarksville. 

Tennessee Housing Development Agency (THDA) created the Great Choice Home Loan, a fixed rate, 30-year mortgage option, to help Tennesseans achieve their dreams of owning a home with affordable financing.

This program is for THDA’s Great Choice Home Loan borrowers purchasing an existing home in a ZIP codes that were hit hardest during the economic downturn and are recovering slower than other areas across the state.

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