February 28, 2018 – Rep. Mike Sparks will dive into the challenges and opportunities facing Rutherford County homebuyers this Thursday morning when THDA Executive Director Ralph M. Perrey joins him for the Rutherford Issues radio show and podcast.
As the state’s housing finance agency, THDA made more than $35 million in home loans to Tennesseans buying homes in Rutherford County in 2017, a 35-percent jump over the previous year. The largest driver of that increase is the new $15,000 HHF Down Payment Assistance program, which is available in targeted ZIP Codes across the state where foreclosures are high and the housing market is lagging.
“THDA is a champion of responsible home loan practices and is proving to the nation that targeted investments in certain neighborhoods can move the needle without dumbing down requirements or lending to people who aren’t ready to succeed as homeowners. I am very pleased with THDA and the State of Tennessee and what they do to assist others with affordable housing. If there has ever been time where this is greatly needed it is today,” said Rep. Sparks.
Rep. Sparks represents LaVergne’s 37083 ZIP Code, which is covered by the HHF Down Payment Assistance program. A second ZIP Code in Rutherford County, 37037 south of Murfreesboro, is also included in the program.
“We’re deliberately targeting the neighborhoods where property values and foreclosures haven’t bounced back from the recession like they have in most areas of Tennessee, and our new down payment assistance program is succeeding beyond all expectations,” said Perrey. “These homebuyers aren’t getting any special consideration, and they face the same income and credit score requirements as any other homebuyers we work with in other areas. And yet, we’re making a real difference in bringing interest and dollars back to these challenging neighborhoods.”
Rep. Sparks and Mr. Perrey will be live on WGNS 1450 AM to discuss homeownership and take calls this Thursday, March 1, from 10 to 11 a.m.