Tennessee · Forgivable loan

THDA Great Choice Plus (Forgivable)

$6,000

$6,000 forgivable second mortgage. No monthly payments. Forgiven at end of 30-year term.

THDA's Great Choice Plus Forgivable provides DPA that's forgiven over time. Meet the occupancy requirements and the assistance becomes a gift — incentivizing long-term homeownership in Tennessee communities.

Amount$6,000

TypeForgivable loan

Available inTennessee

First-time buyer requiredYes

Minimum credit score640

Multi-unit eligibleYes — 1-4 units

House-hack eligible

This program can be used on 1-4 unit properties. Live in one unit, rent the others.

Programs that pair with this

FHA Loan Saves ~$33,000 on a $200K home vs 20% down

Federal · Subsidized loan

VA Loan $0 down + no monthly mortgage insurance

Federal · Federal benefit

NACA Program $0 down + $0 closing + $0 PMI + below-market rate

National · Nonprofit program

THDA Great Choice Home Loan Below-market 30-year fixed rate

Tennessee · Subsidized loan

THDA Great Choice Plus (5%) $15,000

Tennessee · Second mortgage

THDA Homeownership for Heroes Rate discount + FTB waiver for heroes

Tennessee · Rate discount

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