We are approved by the U. S. Department of Housing and Urban Development (HUD) to provide counseling, education and advice in housing issues to new and existing homeowners.

With Great Advantage, new homebuyers can have all of the benefits of the Great Rate program plus down payment assistance. The interest rate may be slightly higher, but 2 percent of the amount of the first mortgage is available to be put toward the up-front costs of purchasing the home. Income and purchase price limits apply.

First-time homebuyers may be eligible to apply for the Great Rate Program, which guarantees 30-year fixed-rate mortgages to those with financial need. Interest rates depend on market conditions at the time of the home purchase. Veterans and those purchasing in certain areas of the state do not have to be first-time homebuyers. Purchase price limits also apply.

Even more help with down payments and closing costs is available through this program. First-time homebuyers, veterans, and homebuyers who purchase in targeted areas of Tennessee may be eligible for a 30-year fixed-rate first mortgage. Interest rates are a little higher than with the state's other homebuyer programs, but so is the amount of assistance with the up-front costs of the home purchase. A grant for 4 percent of the loan amount will be credited toward the buyer at closing. Income and purchase price limits apply.

The New Start program, administered through certain non-profit organizations, is meant to encourage low-income residents to buy new homes. First-time homebuyers, veterans, and those who intend to purchase homes in targeted areas of the state are invited to apply. Interest rates can range from 0 percent to half of the current rate for Great Rate loans, depending on household income and loan-to-value ratio.

This loan program is available to homeowners in Middle Tennessee whose income falls at or below state guidelines. Loans are given for up to $30,000 and must be used for critical repairs and improvements. The term of each loan will be 10 years, and the interest rate is 4 percent.