Did you hear about the new home buyer incentive from the Tennessee Housing Development Agency? Check out these facts you don’t want to miss!
What: It’s a $15,000 loan (for qualified buyers) for a down payment and closing costs on a home within certain designated neighborhoods in Tennessee. The loan has no interest and requires no repayment for 10 years. In fact, starting in its 6th year, THDA will forgive 20% of the loan each year until it’s completely forgiven.
Why: The neighborhoods selected are ones that have been slower to recover from the economic recession a few years ago, including some found here in Nashville. The program is an incentive to help increase real estate activity within those areas. Doing so not only promotes growth in those neighborhoods, but helps existing homeowners increase property values. This helps the financial security of families both moving into and already living in those places.
Next steps: Want more information on how you can take advantage of this amazing opportunity? Call DeSelms Real Estate today at 615.550.5565 for a completely free, no-commitment consultation!