THDA (First Time Home Buyer’s program)

Image result for picture of THDA

THDA offers a single-family loan product with an optional 2nd mortgage for down payment assistance called “The Great Choice Mortgage Program”. It provides First-Time Home Buyers (anyone who has not owned any real estate in the last 3 years) with a low interest rate and the The Great Choice Plus Mortgage Options offers a second mortgage at 0% interest, which provides the funds to be used for down payment.  THDA also offers other programs for Veterans (lower interest rate than the Great Choice programs) and consumers who may be purchasing homes in targeted areas (up to $15,000 in down payment assistance).

Great Choice Plus 
30 year fixed FHA Mortgage with up to 5% assistance of the purchase price (100% financing)


Active Duty Military and Veterans 

Reduced interest rate by a half of a percentage point (0.5%)  – Contact me for more information!


HHF-DPA Program – THDA offers up to $15,000 in down payment assistance in targeted areas (contact me to find out more details).

If you’re approved, your financial assistance comes in the form of a forgivable $15,000 second mortgage loan on your home.

The second mortgage has a 0% interest rate and no monthly payments for the 10 year term. The loan is forgiven at 20% per year in years 6 through 10.See forgiveness schedule below.


Key Highlights of a THDA loan:

  • 30 year fixed mortgage
  • Down payment assistance
  • Up to 6% seller concessions (seller can pay all closing costs in most ALL cases!)
  • 640 minimum credit score
  • Income limits – contact me to see if you qualify.  Limits vary by county.
  • Home buyer education course required