🎁 Down Payment Assistance
The money most buyers never claim
Every year, down payment assistance goes unused because buyers don’t know it exists. The Tennessee Housing Development Agency (THDA) pairs its Great Choice Home Loan with Great Choice Plus assistance that can cover down payment and closing costs for eligible buyers — on top of FHA, VA, USDA and conventional first mortgages.
Is this you?
Down Payment Assistance tend to be a great fit for…
- First-time buyers (and repeat buyers in targeted areas or who haven’t owned in three years)
- Households within THDA income and purchase-price limits for their county
- Buyers who qualify on income but are short on savings
- Anyone told “come back when you’ve saved more”
Questions friends actually ask
Down Payment Assistance: straight answers
How does down payment assistance work in Tennessee?
THDA offers Great Choice Plus as a second loan alongside a Great Choice first mortgage. One version is deferred with no monthly payment until you sell, refinance or pay off the first loan; another amortizes over the loan term with a small payment. Autumn is experienced with these programs and handles the pairing for you.
Do I have to be a first-time buyer to get assistance?
THDA defines a first-time buyer as someone who hasn’t owned a home in the last three years, and repeat buyers can qualify in targeted areas or as veterans. Income and purchase-price limits apply and vary by county — Knox, Blount, Sevier and Loudon each have their own.
Is down payment assistance free money or a loan?
It’s a loan — but often a deferred one with no monthly payment, repaid only when you sell, refinance or pay off the first mortgage. Autumn will walk you through exactly what your version costs, in plain English, before you commit.
Keep exploring
Conventional Loans
The workhorse of home financing — flexible terms, competitive costs, and down payments as low as 3% for first-time buyers.
Learn more →FHA Loans
The first-time buyer favorite — 3.5% down, friendlier credit requirements, and forgiving guidelines for real-life finances.
Learn more →VA Loans
For those who served — $0 down, no monthly mortgage insurance, and some of the strongest terms in all of lending.
Learn more →Not sure if down payment assistance are right for you?
That’s literally what Autumn is for. One conversation, all your options side by side, zero pressure to move forward.