​Down Payment Assistance

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. There is no interest on this second loan, and you don't have to have to make any monthly payments on it either. You only have to pay it back when you sell, move out of, or refinance your home. And in certain circumstances, this second loan can be forgiven, meaning you don’t have to pay it back at all.

Down payment assistance comes in two forms:


Great Choice Plus

All homebuyers who qualify for a Great Choice Home Loan can also apply for down payment assistance in the form of a Great Choice Plus second loan worth a maximum of 5% of the home's purchase price.

Find out more.


HHF-DPA

If you’re purchasing a home with a Great Choice Home Loan in one of the participating ZIP Codes, you can apply for our HHF-DPA program, which offers $15,000 in assistance regardless of the home’s purchase price.

Participating ZIP Codes:

37037 37040 37042 37073 37086 37110 37115 37148 37172 37186
37207 37208 37217 37218 37303 37311 37321 37323 37404 37406
37411 37412 37416 37660 37716 37721 37813 37821 37871 37912
37914 37917 37921 37924 38012 38016 38018 38053 38063 38105
38107 38109 38111 38115 38116 38122 38125 38127 38128 38133
38134 38135 38141 38301 38305

Find out more.