If you’re one of the many Ft Campbell home buyers, you should know about a program helping military families become homeowners. The Tennessee Housing Development Agency (THDA) has over $60M to help first time homeowners and military families.
In honor of service members, a special program, known as Home Ownership for the Brave, offers interest rate reduction on the Great Choice Loan Program for qualified service men and women looking to purchase a home in Tennessee. Home Ownership for the Brave deducts 0.5% off the current interest rates for Great Choice loans.
In addition to the rate reduction, Home Ownership for the Brave applicants are also eligible for optional down payment and closing cost assistance through the Great Choice Plus second mortgage loan at a 0% interest rate.
A military family may be eligible for $15,000 through the Great Choice Plus program to help with closing costs or used towards the down payment of a new home.
See it as a way of getting $15,000 ahead from the moment of your purchase. This could make a huge difference for a military family facing a permanent change of station.
The program is in effect now and is projected to last for up to two years, or until the $60M is depleted. Ft Campbell home buyers are encouraged to act quickly while funds are available.