Great Choice Home Loan, explained
The Great Choice Home Loan is a THDA mortgage for Tennessee home buyers, made by a THDA-approved lender. Here is what THDA's own pages say, with the day we checked, and what is held back until it is checked.
640 is the minimum credit score THDA publishes for its loans. As of 10-28-2026.
The six checks
THDA's checklist has six parts. The price and income parts depend on your county; a lender confirms all six.
Show the same facts as a list
| Check | Status |
|---|---|
| F First-time buyer, or an exception | As of 10-28-2026 |
| M Income within the county limit | As of 10-28-2026 |
| A Price within the county limit | As of 10-28-2026 |
| S A home that fits the program | Ask a lender |
| O A home you will live in | Ask a lender |
| S A credit score of 640 or higher | As of 10-28-2026 |
What it is
A home loan program run by the Tennessee Housing Development Agency. You apply through a THDA-approved lender, not through AskResi.
Great Choice Plus
Great Choice Plus is the version that adds down payment help. THDA lists three kinds, checked above and shown side by side on the down payment options page. It needs a THDA-approved homebuyer course.
Who it tends to fit
A buyer who meets THDA's first-time buyer rule or one of its exceptions, whose household is within the county's limits, and who is buying a home to live in. A lender confirms each part.
What this rests on
Each line below was read at thda.org on the date shown.
- THDA's minimum credit score is 640. As of 10-28-2026.
- Income and purchase price limits depend on the county and the size of the household. As of 10-28-2026.
- Great Choice Plus and Homeownership Heroes need a THDA-approved homebuyer course. 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.
- 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 $25,000 is available for new or proposed construction, as a 15-year 0% loan. As of 10-28-2026.
What this page holds back
Any figure marked "As of" was checked at thda.org on that day. The price limit, the county income limits and other amounts are not printed here until a person has checked them. They change, and they depend on your county and household.
Limits vary by county and change. Ask a THDA-approved lender. THDA's own limits page.
Check where you stand
Which loan fits: Great Choice or Freddie Mac HFA Advantage?
Four taps to see which of the two THDA loans may be worth asking about. 4 questions, about 2 minutes
- First-time buyer check (3 questions, about 2 minutes)
Last checked 10-28-2026 · Source: THDA's own site (thda.org)