THDA quiz · As of 10-28-2026
Myth busters: buying in Tennessee
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Your result
All four right
All four are myths, and you called each one. Down payment help exists for buyers who start with less than 20%; some help is a loan repaid over time and some is forgiven over 10 years; repeat buyers can qualify through a targeted area or military service; and THDA sets a minimum score, not a perfect one.
What this rests on
- Down payment help of 5% of the price, up to $15,000, is a 30-year loan that is paid down over time at the same rate as the first mortgage. As of 10-28-2026.
- Down payment help of up to $6,000 or up to $10,000 is a forgivable 0% second mortgage over 10 years. It is due if the home is sold or refinanced earlier. As of 10-28-2026.
- A buyer who has not lived in a home they owned in the last 3 years may be a first-time buyer under THDA's rule. Repeat buyers may also be eligible in a targeted county or area, or as qualified military and spouse. THDA lists 43 counties as targeted, and designated areas in additional counties. As of 10-28-2026.
- THDA's minimum credit score is 640. As of 10-28-2026.
Here are the facts
All four are myths. Down payment help exists for buyers who start with less than 20%; some help is a loan repaid over time and some is forgiven over 10 years; repeat buyers can qualify through a targeted area or military service; and THDA sets a minimum score, not a perfect one. A THDA-approved lender can tell you where you stand.
What this rests on
- Down payment help of 5% of the price, up to $15,000, is a 30-year loan that is paid down over time at the same rate as the first mortgage. As of 10-28-2026.
- Down payment help of up to $6,000 or up to $10,000 is a forgivable 0% second mortgage over 10 years. It is due if the home is sold or refinanced earlier. As of 10-28-2026.
- A buyer who has not lived in a home they owned in the last 3 years may be a first-time buyer under THDA's rule. Repeat buyers may also be eligible in a targeted county or area, or as qualified military and spouse. THDA lists 43 counties as targeted, and designated areas in additional counties. As of 10-28-2026.
- THDA's minimum credit score is 640. As of 10-28-2026.