UP TO $15,000 Down Payment Assistance Available

If you qualify for a Great Choice Home Loan, you can also apply for down payment assistance in the form of a Great Choice Plus second loan to help with your down payment and/or closing costs. There are two options for down payment assistance.

Deferred Option (No Payments)

  • Down payment assistance is $6,000 in the form of a forgivable second mortgage loan.
  • 0% interest rate
  • Loan is forgiven at the end of 30-year term. If the home is sold or refinanced prior to 30-year term, the loan is due in full.

Amortizing Option (Payment)

  • Down payment assistance is up to 5% of the sales price with a maximum assistance amount of $15,000.
  • 30-Year term amortizing
  • Interest rate is the same as the first mortgage.

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 style (virtual/in-person) 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.

Resource Links