Great Choice Home Loans

You have a choice in home loans. Make it a Great Choice.

As a state agency, THDA created the Great Choice Home Loan program to make mortgage financing available and affordable to Tennesseans of middle/moderate income.

Every Great Choice Home Loan is a 30-year, fixed interest rate home loan, which is the most common mortgage type in America. They’re available through banks and lenders throughout the state of Tennessee.

Here are the basic facts about a Great Choice Home Loan:

30-year term

With a Great Choice Home Loan, your monthly payments are spread out across 30 years to keep the payments affordable.

Fixed interest rate

Unlike an adjustable rate home loan, the interest rate on your Great Choice Home Loan never changes throughout the entire life of the loan.

Minimum Credit Score

To qualify for a Great Choice Home Loan, the credit score of everyone on your loan application must be at least 640. If you don't know your credit store, your lender can check for you. If your credit score is too low, you can work with a THDA-certified counselor to improve your financial situation.

Maximum household income

To be part of the Great Choice Home Loan program, your total household income must be below the annual income limit. This limit varies by county and by the number of people in your household. See the full chart of income limits.

Maximum purchase price

The maximum price you can pay for a home and still qualify for the Great Choice Home Loan program varies by county and is closely related to the income limits for that county. See the full chart of purchase price limits.

Down Payment Assistance

Everyone who qualifies for a Great Choice Home Loan has the option of financial assistance with their down payment and/or closing costs.

If you’re interested in a Great Choice Home Loan, great! Just click on the category that’s right for you:








When you choose a Great Choice Home Loan, your monthly payments help fund home repairs for the elderly, ramp installations for people with disabilities, emergency services for the homeless, and other state housing programs.

Find out why Great Choice Home Loans are the Mortgage with Heart.