ADDI Program

Available Funds as of November 12, 2009: $20,000

THDA will make available to assist first-time home buyers with down payment and closing cost assistance. THDA ADDI funds will be available to eligible applicants who are purchasing homes in areas outside the local participating jurisdictions of Memphis, Knoxville, Chattanooga, Shelby County, Knox County, Nashville-Davidson County, and the Northeast Consortium of Bristol, Johnson City, Bluff City, Kingsport, Sullivan County and Washington County (excluding the City of Jonesborough). These participating jurisdictions receive their own ADDI funds directly from HUD. The goal of ADDI is to increase homeownership rates, especially among lower income and underserved populations, and to revitalize and stabilize communities.

Partner Agencies and Applying for ADDI Funds

In partnership with non-profit agencies, public housing agencies and other public agencies, the Tennessee Housing Development Agency will provide $5,000 for downpayment and closing cost assistance directly to eligible applicants for the purchase of single-family housing. THDA continues to invite new partner agencies to submit their Intent to Participate to THDA. A list of current participating partner agencies is available on the THDA website. (Current ADDI partner agencies need not resubmit an Intent to Participate.) THDA reserves the right to request documentation of the agency’s status as a qualifying partner in the ADDI program.

The partner agencies can apply to THDA, on behalf of qualified applicants, to reserve ADDI funds for up to 120 days prior to closing. THDA will provide and maintain on its website an indicator, updated weekly, of the available, uncommitted balance of ADDI funds.

In preparation for closing, the partner agencies will submit required documentation to THDA. Upon review and approval by THDA, a check for ADDI funds and the required legal documents securing the homebuyer’s obligations will be sent to the closing attorney.

Questions and/or comments should be directed to Craig Stevens, Housing Program Coordinator, at 615-815-2035.