On March 20, the Tennessee Housing Development Agency (THDA) unveiled a new program offering down payment/closing cost assistance to first-time buyers qualifying for the federal tax credit. The program uses a second mortgage loan to assist a first-time buyer with down payment and/or closing costs with principal and interest deferred until July 1, 2010, by which time it is assumed that the buyer will have received funds through the first-time buyer tax
credit. THDA plans to begin accepting applications for this new program on April 1. To find out more go to www.THDA.org
Tags: Add new tag, Buying a Home, closeing cost assistance, down payment assistance, First Time Home Buyers, real estate, THDA