THDA makes changes to assistance program for first-time homebuyers

Tennessee

Photo: WJHL

NASHVILLE, Tenn. (WJHL) – The Tennessee Housing Development Agency (THDA) is hoping to help first-time homebuyers in the midst of an energized housing market.

THDA’s downpayment assistance program aims to help future homeowners by working with lenders in the state to find an affordable rate.

The agency has made changes to the program that prospective buyers need to be aware of.

“If you are a first-time homebuyer, that is often the biggest obstacle you have, not having the cash upfront,” said THDA Director Ralph Perrey. “So we have actually enhanced the downpayment program over the last week or two, and we’ve seen a modest uptick in our loan production as a result of that.”

THDA does require homebuyer education for all their mortgage loan applicants and encourages it for anyone that is considering homeownership. For more information from THDA, click here.

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