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Tennessee program

THDA Great Choice Plus Down Payment Assistance

Tennessee route through Tennessee Housing Development Agency (THDA). This page stays free for the core public facts. Open paid access only when you need the full state board, related paths, and the decision layer around this program.

Deferred or amortizing second mortgage Forgivable if occupancy holds 2026-04-22
Agency Tennessee Housing Development Agency (THDA)
Support type Deferred or amortizing second mortgage
Amount highlight Current THDA materials describe two Great Choice Plus second-loan options for down payment and closing costs: a $6,000 deferred option at 0% interest with no monthly payment, or a payment option up to 5% of the sales price capped at $15,000.
Last verified 2026-04-22

Use carefully

Use current borrower-facing rules over older official PDFs

This page stays public because the official structure is still useful, but these details should not be flattened into fake certainty.

Great Choice Plus is live and detail-safe, but older official THDA PDFs still preserve historical 6% or 15-year versions that should not be treated as current borrower rules.

Source note: Current borrower-facing pages, the Homebuyer Handbook, and the current OA guide agree on the live $6,000 deferred option and the live amortizing option up to 5% of the sales price capped at $15,000 over 30 years. Older official THDA PDFs still preserve historical 6% or 15-year Great Choice Plus terms.

Decision-ready public facts

What stays free on this program page

Quick answer from published facts. Use this first, then jump to Go to Tennessee program hub if you need the wider state context.

Amount

Current THDA materials describe two Great Choice Plus second-loan options for down payment and closing costs: a $6,000 deferred option at 0% interest with no monthly payment, or a payment option up to 5% of the sales price capped at $15,000.

Type

Deferred or amortizing second mortgage

Repayment

The deferred option is a 0% forgivable second mortgage with no monthly payments and a 30-year term. THDA says the balance is due in full if the home is sold or refinanced before the 30-year term ends. The payment option is a 30-year amortizing second mortgage at the same interest rate as the first mortgage, with a required monthly payment that counts in the debt ratio.

First-time buyer

Varies

Program guide

What to know before you click through

This is still the free fact layer. Open the official source when a detail affects eligibility, repayment, lender choice, or whether this path should stay on your shortlist.

Who qualifies?

Tennessee homebuyers who first qualify for a THDA Great Choice first mortgage through a THDA-approved lender, First-time homebuyers under THDA's prior-three-years rule, Repeat buyers who qualify through a targeted county, targeted area, or military and veteran exception under the paired Great Choice first mortgage, Borrowers who complete THDA-approved homebuyer education and meet current county-based income and acquisition-cost limits

What support do you get?

Current THDA materials describe two Great Choice Plus second-loan options for down payment and closing costs: a $6,000 deferred option at 0% interest with no monthly payment, or a payment option up to 5% of the sales price capped at $15,000.

Do you repay it?

The deferred option is a 0% forgivable second mortgage with no monthly payments and a 30-year term. THDA says the balance is due in full if the home is sold or refinanced before the 30-year term ends. The payment option is a 30-year amortizing second mortgage at the same interest rate as the first mortgage, with a required monthly payment that counts in the debt ratio.

How do you apply?

Qualify for a THDA Great Choice first mortgage through a THDA-approved lender, complete THDA-approved homebuyer education, and have the lender structure either the deferred or amortizing Great Choice Plus second loan for down payment and closing costs.

Official source evidence

Current THDA borrower-facing materials show a $6,000 deferred Great Choice Plus option and an amortizing option up to 5% of the sales price capped at $15,000, both available only when paired with the THDA Great Choice first mortgage.

View official source

Last verified

2026-04-22

Current THDA borrower-facing pages, 2026-02-26 Homebuyer Handbook, 2025-06-01 acquisition-income-limits sheet, and current OA guide verified 2026-04-22

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Comparison preview

THDA Great Choice Plus Down Payment Assistance

Amount: Current THDA materials describe two Great Choice Plus second-loan options for down payment and closing costs: a $6,000 deferred option at 0% interest with no monthly payment, or a payment option up to 5% of the sales price capped at $15,000.

Repayment: The deferred option is a 0% forgivable second mortgage with no monthly payments and a 30-year term. THDA says the balance is due in full if the home is sold or refinanced before the 30-year term ends. The payment option is a 30-year amortizing second mortgage at the same interest rate as the first mortgage, with a required monthly payment that counts in the debt ratio.

First-time buyer: Varies

Risk checks preview

What gets flagged before you call a lender

  • THDA Great Choice Plus Down Payment Assistance requires a participating lender.
  • THDA Great Choice Plus Down Payment Assistance must be paired with a specific first mortgage.

Lender questions preview

Questions tied to this exact path

  • Is your team approved to originate THDA Great Choice Plus Down Payment Assistance for this household and loan setup?
  • Which first-mortgage product must be paired with THDA Great Choice Plus Down Payment Assistance, and what breaks eligibility?

Action checklist preview

What you would do next

  • Review the official THDA down payment assistance page for THDA Great Choice Plus Down Payment Assistance
  • Ask whether your lender is approved for this exact program and loan structure.
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What paid research already covers in Tennessee

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Specific program names, source notes, current-vs-conditional judgments, and the next lender or agency questions tied to this state.

1 tracked

city and county programs

City and county down payment or closing-cost programs that never make it into the free statewide layer.

1 tracked

employer-assisted paths

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2 tracked

specialty and conditional paths

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