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The Tennessee Housing Development Agency (THDA) was created in 1973 to help low-income individuals and families obtain affordable home loans. THDA is the primary financing agency for the state of Tennessee and is responsible for the administration of several federal and state housing programs. This entity consists of a 16-member board of directors that is accountable to both the legislative and executive branches of government. As THDA’s #1 Lender since 2003, MIG is ready to help you get into your dream home using one of THDA’s loan programs.
Click here to see the UPDATED THDA Income Limits by County
THDA created the Great Choice Home Loan program to make homeownership available and affordable for first-time homebuyers, but repeat homebuyers can participate if you meet any of the following qualifications:
If this sounds like the right loan for you, click below to get started today!
THDA celebrates and honors the men and women who serve with the Homeownership for Heroes program. Homeownership for Heroes is a type of Great Choice Home Loan that offers financial assistance along with these added benefits:
The Homeownership for Heroes program is available to:
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) 1
Amortizing Option (Payment) 2
Homebuyer Education
To qualify for down payment assistance, you must complete a pre-purchase Homebuyer Education course from a THDA-approved instructor. You can take this course online or in a classroom style (virtual/in-person) with other homebuyers like yourself. Click here for course options.
Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at migonline.com Legal Information.
MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020