💰 Down Payment Assistance (THDA)
The money most Tennessee 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 — a second mortgage that covers down payment and/or closing costs for qualified buyers. Deferred and forgivable, amortizing, or a 0% new-construction version. The Williams Group works these loans every week from the Franklin office.
Is this you?
Down Payment Assistance (THDA) tend to be a great fit for…
- First-time buyers (haven’t owned in the last three years) and repeat buyers in targeted areas
- Households within THDA income and purchase-price limits for their county
- Buyers with a 640+ credit score who qualify on income but are short on savings
- Military, veterans, first responders and teachers via Homeownership for Heroes
Questions buyers actually ask
Down Payment Assistance (THDA): straight answers
How does THDA down payment assistance work in Tennessee?
THDA’s Great Choice Plus is a second mortgage that closes alongside your Great Choice first mortgage. The deferred version has no monthly payment and is forgiven after 10 years in the home; the amortizing versions carry a small monthly payment. Jeramy runs all the options side by side so you can see the real difference.
Do I have to be a first-time buyer to get THDA assistance?
In most of Middle Tennessee, yes — with “first-time” meaning you haven’t owned a home in the last three years. Repeat buyers qualify in THDA targeted areas, and the requirement is waived statewide for qualified military and veterans. Income and purchase-price limits apply and vary by county.
Is down payment assistance free money or a loan?
It’s a loan. The deferred version is a 0% forgivable second mortgage — nothing due monthly, forgiven after 10 years, due in full if you sell or refinance sooner. Jeramy walks you through exactly what your version costs, in plain English, before you commit.
What are the THDA income limits near Franklin?
As of the August 1, 2026 THDA sheet, Williamson County allows household income up to $139,320 (1–2 people) or $162,540 (3+) with a $500,000 purchase price cap. Davidson, Rutherford, Wilson and Sumner counties share those figures. Limits change — confirm the current numbers with Jeramy.
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 (thda) are right for you?
That’s literally what Jeramy and the team are for. One conversation, all your options side by side, zero pressure to move forward.