About the Program

Qualified first-time homebuyers in Tennessee can access down payment assistance ranging from $6,000 to $35,000 depending on the specific program and location. As of April 6, 2026, the Welcome Home Program (WHP) offers grants up to $20,000 for eligible buyers. Additionally, the Tennessee Housing Development Agency (THDA) provides assistance up to 5% of the sales price (max $15,000)

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Down Payment Assistance

If you qualify for a Great Choice Home Loan, you can also apply for down payment assistance in the form of a Great Choice Plus second loan to help with your down payment and/or closing costs. There are two options for down payment assistance.

Deferred Option (No Payments)

• Down payment assistance is $6,000 in the form of a forgivable second mortgage loan.
• 0% interest rate
• Loan is forgiven at the end of 30-year term. If the home is sold or refinanced prior to 30-year term, the loan is due in full.

Amortizing Option (Payment)

• Down payment assistance is up to 5% of the sales price with a maximum assistance amount of $15,000.
• 30-Year term amortizing
• Interest rate is the same as the first mortgage.

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Get Approved

If Great Choice Plus sounds like a great choice to you, check out your options:

• First-time Homebuyers
• Repeat Homebuyers
• Military & Veteran Homebuyers

You must continue to comply with the terms and conditions of your primary Great Choice Home Loan and secondary Great Choice Plus loan or penalties may apply, including immediate repayment.

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Explore Communities Across Tennessee

You've learned about the program. Now explore communities across Tennessee to find the place that best fits your lifestyle and priorities.

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• LookyLOO Reviews of Tennessee Cities
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