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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June 17, 2019
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Hardest Hit Fund Down Payment Assistance

Financial Assistance for Homebuyers in Tennessee

In an effort to help Tennesseans achieve their dreams of owning a home with affordable financing, the Tennessee Housing Development Agency (THDA) offers individuals aid via the Hardest Hit Fund Down Payment Assistance (HHF-DPA) Program. The 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.

The HHF-DPA program delivers down payment assistance in the form of $15,000 second mortgage with zero interest and no monthly payments for 10 years. The loan is forgivable at 20 percent per year from years 6 through 10, so as long as the borrower does not sell, refinance, or move out of the house in under 10 years, no money is owed.

Eligibility Requirements
The HHF-DPA program is available to first-time, repeat, and military or veteran homebuyers, as long as they are purchasing existing homes in one of the designated ZIP codes. Applicants are required to attend and complete a pre-purchase homebuyer education course from a THDA-approved instructor to qualify for the Great Choice Plus program. Borrowers must also stay compliant with the terms of the Great Choice Home Loan Program or penalties may apply, including immediate repayment.

Eligible Locations
There are 62 ZIP Codes located in 33 Tennessee counties that fall under HHF-DPA’s designated zones:

37037, 37040, 37042, 37073, 37086, 37110, 37115, 37148, 37172, 37186, 37207, 37208, 37217, 37218, 37303, 37311, 37321, 37323, 37354, 37404, 37406, 37411, 37412, 37416, 37650, 37660, 37716, 37721, 37813, 37821, 37871, 37874, 37877, 37890, 37912, 37914, 37917, 37920, 37921, 37924, 38012, 38016, 38018, 38053, 38063, 38015, 38107, 38109, 38111, 38115, 38116, 38118, 38122, 38125, 38127, 38128, 38133, 38134, 38135, 38141, 38301, 38305 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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