Homeownership: A Tool for Community Development

HOMEOWNERSHIP

A Tool for Community Development

Blog written by: Mark Griffith, MIG Branch Manager/Sr. Loan Officer & THDA Advisory Board Member

While becoming a homeowner is a dream for many, it can also be seen as a tool and a very useful one at that.

When viewed through that lens, housing professionals realize homeownership helps strengthen and revitalize communities, while building wealth and providing a home for families to grow and thrive.

That potential to do good is what makes the Tennessee Housing Development Agency’s HHF Down Payment Assistance so important for many hardworking families in the Volunteer State.

Equipped with an allocation of $60 million from the U.S. Treasury’s Hardest Hit Fund, THDA was able to target 55 ZIP Codes – just under seven percent of those in Tennessee – that have been slow to recover from the housing downturn that occurred almost nine years ago. The targeted areas include ZIP Codes in East Tennessee. Many homes in Clinton ZIP Code 37716 are eligible and seven ZIP Codes stretching into Jefferson and a tip of Sevier County have neighborhoods that could be helped.

The full list of ZIP Codes can be found HERE.

Share