Top 2022 Down Payment Assistance Programs (Up to $15,000) for Tennessee First Time Home Buyers
2022 Tennessee Housing Development Agency (THDA) Great Choice for First Time Home Buyers
- First time home buyers
- For middle / moderate-income families
- Requires a credit score of at least 640
- Additional downpayment assistance is available (up to 5%) for qualified Tennesseans (HHF-DPA)
- Household income must be $95,900 or less depending on the county and household size see income limits chart
- The home purchase price must be $375,000 or less depending on the county see purchase price limits
2022 Hardest Hit Fund Down Payment Assistance (HHF-DPA) Program for First Time Home Buyers
- Provides a $15,000 down payment assistance regardless of the purchase price of the home
- Assistance is a 10-year forgivable loan at 0% interest and no monthly payments
- Must purchase an existing home (no new construction)
- Works in conjunction with THDA Great Choice program
- Must complete a THDA-certified Homebuyer Education class
- See eligible zip codes below
2022 – The Housing Fund Down Payment Assistance for Current or First Time Home Buyers
- Up to $35,000 loan for a down payment
- 5 to 8 percent interest rate based on income tier and loan type
- 10 to 15-year term based on loan amount
- The home must be the buyer’s primary residence
- The first mortgage lender must be FHA approved in Tennessee
- Homebuyer Education, provided by a THDA-certified counselor, must be completed prior to closing (online class available)
- Borrowers must contribute at least 1% of the sales price to the purchase
- No bankruptcy in past 3 years
- Household income must be $90,450 or less depending on county and houshold size… see income limits chart below
| County | AMI | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|---|
| Nashville-Davidson Tier 1 | 80% | $38,400 | $43,850 | $49,350 | $54,800 | $59,200 | $63,600 | $68,000 | $72,350 |
| Nashville-Davidson Tier 2 | 100% | $48,000 | $54,850 | $61,700 | $68,500 | $74,000 | $79,500 | $85,000 | $90,450 |
| Clarksville-Montgomery Tier 1 | 80% | $30,200 | $34,500 | $38,800 | $43,100 | $46,550 | $50,000 | $53,450 | $56,900 |
| Clarksville-Montgomery Tier 2 | 100% | $37,750 | $43,150 | $48,500 | $53,900 | $58,200 | $62,500 | $66,850 | $71,150 |
| Maury Tier 1 | 80% | $31,500 | $36,000 | $40,500 | $44,950 | $48,550 | $52,150 | $55,750 | $59,350 |
| Maury Tier 2 | 100% | $39,400 | $45,000 | $50,650 | $56,200 | $60,700 | $65,200 | $69,700 | $74,200 |
| All Other Tennessee Counties | contact us | ||||||||
2022 USDA 100% Financing Program for First Time Home Buyers
- For first time home buyers
- No down payment required
- Requires a credit score of at least 640
- Property must be located in targeted area.
- Maximum household income varies from $54,600 to $89,600 depending on county and houshold size
- Maximum home purchase price varies from $240,000 to $275,000 based on county
- PMI (Private Mortgage Insurance) not required
- Seller can contribute up to 6% of purchase price toward closing costs
2022 America’s Home Buyer Solution for Current or First Time Home Buyers
- For first time home buyers AND current homeowners
- Get up to a 2.5% Down Payment Grant toward the purchase of a home (never needs to be paid back)
- The remaining 1% down payment required can be a gift from a family member.
- Applies to any FHA Approved Property (including duplexes, triplexes, and 4-plexes) in Tennessee
- The seller can contribute toward pre-paid expenses and closing costs such as taxes, insurance, etc.
- Income limits apply based on county.
- The home must be owner-occupied. No rental properties.
- No pre-payment penalties.
- Requires a credit score of at least 640
- Household income must be at or below The USDA median income limits.
- Must complete a THDA-certified Homebuyer Education class (cost approx $60)
2022 FHA Program for First Time Home Buyers
- For first time home buyers
- Low down payment
- Requires a credit score of at least 620
- Parents or family members can co-sign a loan (kiddie condo)
- Lower down payment than the standard FHA program is available in Tennessee if you purchase FHA Foreclosure
- Down payment can be 100% gift, 100% down payment assistance, or 100% grant funds
- Single-family, condo, and 2-4 unit property loan limits for FHA approved condos Find Eligible Condos
- The seller can contribute up to 6% of the purchase price toward closing costs
The information presented on this site is deemed to be accurate at the time of writing.
We make every effort to keep our information current; however, please be advised, some programs may alter their terms/conditions or max out their funding.
Featured Tennessee Cities:
Athens, Bartlett, Brentwood, Bristol, Chattanooga, Clarksville, Cleveland, Collierville, Columbia, Cookeville, Dickson, Dyersburg, East Ridge, Elizabethton, Farragut, Franklin, Gallatin, Germantown, Goodlettsville, Greeneville, Hendersonville, Jackson, Johnson City, Kingsport, Knoxville, Lakeland, La Vergne, Lebanon, Maryville, McMinnville, Memphis, Middle Valley, Morristown, Mount Juliet, Murfreesboro, Nashville, Oak Ridge, Sevierville, Smyrna, Soddy-Daisy, Springfield, Spring Hill, Shelbyville, Tullahoma
Featured Tennesee Counties
Anderson, Bedford, Benton, Bledsoe, Blount, Bradley, Campbell, Cannon, Carroll, Carter, Cheatham, Chester, Claiborne, Clay, Cocke, Coffee, Crockett, Cumberland, Davidson, Decatur, DeKalb, Dickson, Dyer, Fayette, Fentress, Franklin, Gibson, Giles, Grainger, Greene, Grundy, Hamblen, Hamilton, Hancock, Hardeman, Hardin, Hawkins, Haywood, Henderson, Henry, Hickman, Houston, Humphreys, Jackson, Jefferson, Johnson, Knox, Lake, Lauderdale, Lawrence, Lewis, Lincoln, Loudon, Macon, Madison, Marion, Marshall, Maury, McMinn, McNairy, Meigs, Monroe, Montgomery, Moore, Morgan, Obion, Overton, Perry, Pickett, Polk, Putnam, Rhea, Roane, Robertson, Rutherford, Scott, Sequatchie, Sevier, Shelby, Smith, Stewart, Sullivan, Sumner, Tipton, Trousdale, Unicoi, Union, Van Buren, Warren, Washington, Wayne, Weakley, White, Williamson, Wilson
2022 Down Payment assistance programs for Tennessee first time home buyers. (n.d.). Tennessee-First-Time-Home-Buyer.com. Retrieved March 9, 2022, from http://tennessee-first-time-home-buyer.com/
