joins The Housing Hour this week to give our listeners a unique view of one of our countries premier state housing programs. THDA’s passion is to expand safe, sound, affordable housing opportunities for low and moderate-income Tennesseans. They aspire to excel in the management and stewardship of our state resources and to produce strong earnings that allow creative reinvestment to meet the housing needs in Tennessee.
The Tennessee Housing Development Agency (THDA) is Tennessee’s housing finance agency, created by the General Assembly in 1973. THDA was created to promote the production of more affordable new housing units for very low, low and moderate income individuals and families in the state, to promote the preservation and rehabilitation of existing housing units for such persons, and to bring greater stability to the residential construction industry and related industries so as to assure a steady flow of production of new housing units.
In addition to serving as the primary administrator for numerous federal and state housing programs, THDA is authorized to issue tax-exempt Mortgage Revenue Bonds to support financing opportunities for first-time homebuyers and veterans. THDA is not a direct lender. THDA purchases qualified home loans originated through its private-sector lending partners. All THDA loans have 30-year, fixed-rate terms and offer a maximum grant of 5% in down-payment assistance. All homebuyers receiving down-payment assistance must complete a homebuyer education course.