Does THF have a minimum credit score?

Yes.  We have a minimum credit score guideline of 620.  However, we encourage those with less than that to apply as we may be able to provide specific actions that can be taken to improve their credit score to meet our credit requirements.

Does THF ever allow for ratios to exceed 45%/35%?

No.  We encourage those whose ratios exceed these to apply if interested.  Sometimes we look at income differently than the first mortgage lender and we may be able to help.

What would make someone ineligible for a THF loan?

THF has several requirements for eligibility for our loans.  A list of some of the most obvious requirements can be found on the “info for lenders” tab.

Do I have to have good credit to apply?

THF makes all decisions regarding who might be eligible for our loans.  Having a good payment history is an important part of that decision.  You can find a list of some of the most important aspects of “good credit” on the “info for lenders” tab.

Is THF certified?

THF is certified to by HUD to attach our second mortgages to FHA first mortgages in TN.  THF also has been given the designation as a Community Development Financial Institution (CDFI) by the Department of the Treasury.  THF is also certified as a Pre-Purchase Homebuyer Educator and Foreclosure Intervention Counseling agency in our Clarksville office.

How do I apply for your loans to individuals?

There are two steps to our process.  Step One is to fill out a THF application.  You can download our application and return it to us via email or you may come into our offices between 9:00am and 4:00pm to fill out an application.  Step Two is for your first mortgage lender (who must be FHA approved in Tennessee) to send us a packet of information about your loan.  The list of documents we will need from the first mortgage lender can be found on the “info for lenders” tab.

How long will the process take?

Once the application and the information from the first mortgage lender are received, and there are no issues or questions, we need 3 business days to complete the underwriting process.  If extenuating questions or issues (typically about household income or credit history) arise, the process could take longer.

Do you have grant funds available?

No.  The Housing Fund only makes loans.

Do I have to be a US citizen?

To be eligible for THF funds, you must be either a US citizen or a permanent resident alien.

Do you provide 1st mortgages for homeowners?

No.  We can provide up to $35,000 in down payment assistance to qualified borrowers who receive first mortgage financing from a Tennessee approved FHA approved lender.

Development Lending

Do you make development loans for residential housing?

Yes.  The Housing Fund also provides financing for multi-family projects, housing for special needs and community development lending for mixed use and other non-residential projects that benefit low-moderate income people or neighborhoods.

Does the property have to be in a targeted census tract?

No.  For residential lending, the rent or sales price must be affordable to a LMI client.  For Non-residential lending, the project must either be in a LMI census tract or primarily service LMI clients.

Do you lend outside Nashville and Davidson County?

Yes.  The Housing Fund will make development loans for projects located across the State of Tennessee and in Bowling Green, KY.

What are your interest rates on development loans?

Interest rates and terms vary by project.

Do you provide development loans for acquisition only?

Yes.  In addition, loans are made for Acquisition Rehab, Acquisition New Construction, Rehab, and New Construction.

Do you work with for-profits?


Other Questions

Do you provide rental assistance?

No. We recommend contacting either MDHA or THDA for Section 8 assistance.

Do you provide Homebuyer Education?

Yes. The Housing Fund’s Clarksville office provides homebuyer education.  You can contact Angela Belcher at 931-572-8454.  Additional classes are provided by certified counselors.  Please view the Schedule of Homebuyer Classes at www.thda.org.

Do you subordinate?

Yes.  To review a loan for subordination,  provide The Housing Fund with permission to release information.  Once this is received, we will send the new lender forms to fill out, with instructions for additional documents needed for review.  Once the documentation has been received, it will be reviewed and a decision on the subordination will be made.

Who do I contact for payment?

For DPA loans, contact Freda Brownlow at 615-515-2203, or Terry Woodall at 615-515-2209.

Can I make payments in cash?

No.  The Housing Fund does not accept cash payments.

Is there a dropbox?


If you have a question that you think many people may have, but  isn’t addressed in this section, please contact us.



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