THDA Great Choice Plus (Amortizing) (TN): Amount, Requirements & How to Apply

THDA Great Choice Plus (Amortizing)

Quick answer

THDA Great Choice Plus (Amortizing) is a Tennessee down payment assistance program from Tennessee Housing Development Agency. It provides Up to 5% of the sales price (maximum $15,000) as a repayable second mortgage. Eligibility, income limits and funding are set by the agency, so confirm current terms on its official page.

Who qualifies for THDA Great Choice Plus (Amortizing)?

30-year amortizing second mortgage at the first mortgage rate. Homebuyer education is required.

Detail	Program terms
Assistance	Up to 5% of the sales price (maximum $15,000)
Type	Repayable second mortgage
Minimum credit	Not published on the program page
First-time buyer	Not required
Income limits	See official page

How does THDA Great Choice Plus (Amortizing) work with an FHA loan?

Tennessee's 2026 FHA one-unit limits start at $541,287, which supports a price of about $560,000 with 3.5% down. On a $250,000 home, the minimum FHA down payment is $8,750 — assistance of up to $15,000 could cover it and part of closing costs, subject to program rules.

Where do I confirm current terms?

On the official page: https://thda.org/homeownerships/great-choice-loan-program-advantages/. Programs can pause when funds run out, so confirm availability with a participating lender.

“up to 5% (maximum of $15,000) of the sales price in the form of a second mortgage” — Tennessee Housing Development Agency

← All Tennessee down payment assistance programs

Frequently asked questions

Up to 5% of the sales price (maximum $15,000), according to Tennessee Housing Development Agency.

Yes — it's a second mortgage with its own repayment terms.

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.