The Tennessee Down Payment Partnership helps first-time homebuyers with their down payment or closing costs. The loans are due on sale and will not be repaid until the home resells. The repaid down payment will then be available for another first-time homebuyer.
Borrowers’ annual income in combination with household size must be at or below the 80% income limits set by the U.S. Department of Housing and Urban Development (HUD).
To participate in this new and unique downpayment loan you must use a first mortgage from one of the following financial partners listed below.