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HomeBank LoanTennessee First-Time Homebuyer Applications | The Lenders Community

Tennessee First-Time Homebuyer Applications | The Lenders Community


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Great Choice Home Loan Program

The Great Choice Loan Program offers 30-year, fixed-rate mortgages to qualified first-time, repeat, and military veteran homebuyers. Great Choice is used in conjunction with FHA, VA, USDA-RD, and uninsured conventional loans. The Great Choice Loan Program consists of two parts: Great Choice and Great Choice Plus. Great Choice is the 30-year, fixed-rate mortgage loan referenced above.

Great Choice Plus-Amortizing is a 15-year second mortgage to provide homebuyers with down payment assistance of 6% of the purchase price of the home. Great Choice Plus-Deferred is a 30-year second mortgage to provide homebuyers with down payment assistance in the amount of $6,000. If you purchase your home for less than $150,000, then you can use up to $6,000 toward the down payment. When the purchase price exceeds $150,000, you can use up to $7,500 for down payment assistance. Read more

Requirements

  • Minimum 640 credit score
  • Must attend a homebuyer education class
  • Meet the household income limit
  • Home price does not exceed the purchase price limit

Statewide and Regional Programs

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Tennessee Home Contacts

State

Don Watt, Director
State of Tennessee
Tennessee Housing Development Agency
502 Deaderick St., Third Floor
Andrew Jackson Building
Nashville, TN 37243
Phone: (615) 815-2032
Fax: (615) 532-5069
Email
Website

Cities

City of Chattanooga
Ms. Sandra H. Gober, Manager
Department of Community Development
100 E. 11th St.
City Hall Annex, Suite 104
Chattanooga, TN 37402
Phone: (423) 757-5133
Fax: (423) 425-6447
Email
Website

City of Clarksville
Keith D. Lampkin, Housing and Community Development Director
Housing and Community Development
One Public Square
Clarksville, TN 37040
Phone: (931) 648-6133
Fax: (931) 503-3092
Email
Website

City of Jackson
Mr. David L. Ralston, Director
Jackson Housing Authority
125 Preston St.
Jackson, TN 38301
Phone: (731) 422-1671
Fax: (731) 425-4617
Email

City of Kingsport
Community Development Manager
P.O. Box 44
Kingsport, TN 37662
Phone: (423) 378-2933
Fax: (423) 392-2530
Website

City of Knoxville
Becky Wade, Director
Department of Community Development
P.O. Box 1631
Knoxville, TN 37901
Phone: (865) 215-2120
Fax: (865) 215-2962
Email
Website

City of Memphis
Ms. Debbie Singleton, Interim Administrator
Department of Compliance and Reporting
701 N. Main St.
Memphis, TN 38107
Phone: (901) 576-7304
Fax: (901) 576-7427
Email
Website

City of Nashville/County of Davidson
Metropolitan Development and Housing Agency
Joe Cain, Director of Development
P.O. Box 846
Nashville, TN 37202-0846
Phone: (615) 615-252-8508
Fax: (615) 252-8559
Email
Website

Counties

County of Knox
Grant Rosenberg, Director
Department of Community Development
400 Main Street, Suite 345
Knoxville, TN 37902
Phone: (865) 215-3980
Fax: (865) 215-3997
Email
Website

County of Shelby
Mr. James Vazquez, Administrator
Department of Housing
1075 Mullins Station Rd.
Memphis, TN 38134-7725
Phone: (901) 379-7102
Fax: (901) 379-7129
Email
Website

Consortia

Consortia Detail

City of Bristol, TN
HOME Consortium: Jan Detrick, Director
Community Development Department of Planning, Economic, and Community Development
P.O. Box 1189
Bristol, TN 37621-1189
Phone: (423) 989-5521
Fax: (423) 989-5717
Email
Website

Getting Started

Buying a Home

Owning and Maintaining Your Home

Other Tennessee Resources

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