THDA recognizes the importance of homebuyer education and requires all homebuyers to complete a homebuyer education course. An independent study of THDA home loans shows that this course reduces the odds of foreclosure by 42%. It is best to sign up for the course as early in the homebuying process as possible, and we strongly encourage you to complete the class at least four weeks before your closing date.
You can meet the homebuyer education requirement by completing courses online or by attending an in-person class through an approved THDA Homebuyer Education counseling agency.
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. To qualify for the Great Choice Plus program, you must complete a pre-purchase Homebuyer Education course.
Homeownership for the Brave
Active duty military, veterans, and their spouses can apply for reduced interest rates along with down payment assistance through the Homeownership for the Brave program. This program requires a pre-purchase Homebuyer Education course.
Step In Program
State of Tennessee employees and employees of Step In participating corporations are now eligible to attend a Homebuyer Education class for just $25 instead of the regular price of $99.