Down Payment Assistance

Successful Homeownership is still possible

The Housing Fund provides up to a $35,000 loan for down payment, prepaids, and closing costs to individuals and families. If you meet the criteria, The Housing Fund can help you reach your goal of successful homeownership.

Minimum/Maximum Loan Amount

$5,000/$35,000

Interest Rate

  5% Fixed Interest Rate for All Income Tiers! 

Income Income for all counties click here
Monthly Payment Varies
Loan Term

$5,000-$10,000: 10 year term

$10,000+: 15 year term

First Mortgage may be: FHA, VA, Conventional

Other Things to Know:

  • Home must be the buyer’s primary residence
  • First mortgage lender must be FHA approved in TN
  • Homebuyer Education, provided by a THDA-certified counselor, must be completed prior to closing (Click here for a list of certified counselors).  The Housing Fund also allows Online Homebuyer Education through eHome America when combined with a 1-hour, One-on-One counseling session for all clients using our Down Payment Assistance Loan. Click here for Online homebuyer education instructions.
  • Borrowers must contribute at least 1% of sales price to the purchase
  • For credit standards and underwriting guidelines, see the Underwriting Checklist 
  • The Housing Fund begins the underwriting process when we have received both a completed borrower application and lender loan package, see the Request for THF Loan Approval.

To review these guidelines in Spanish, please click here