Great Choice Plus

Want to understand how a Great Choice Plus down payment assistance works? Our new mascot Morty can help explain in just 90 seconds!



It's pretty simple. If you qualify for a Great Choice Home Loan, you can apply for financial assistance with your down payment and/or closing costs.

Financial assistance comes in the form of a second mortgage loan on your home. This Great Choice Plus second loan has no monthly payments and no interest for as long as you own and live in your home. Here's what that means:

No Monthly Payments

You don't have to pay back a penny on this secondary loan until you decide to sell, move out of, or refinance your home.

No Interest

When you decide to sell, move out of, or refinance your home, you'll only pay back exactly what you borrowed--not a penny more.





THDA executive director Ralph Perrey explains it like this: “Under this program, we allow qualified homebuyers to borrow money at no interest to cover some of their down payment and closing costs, but we do require them to return the money when they sell, refinance or move out of the home.”

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 with other homebuyers like yourself.

To learn more or to enroll in one of these courses, click here.

Get approved

If Great Choice Plus sounds like a great choice to you, check out your options:

You must continue to comply with the terms and conditions of your primary Great Choice Home Loan and secondary Great Choice Plus loan or penalties may apply, including immediate repayment.