State, city announce program to help West Tennesseans achieve the American Dream
JACKSON, Tenn.-The Tennessee Housing Development Agency hosted a joint news conference, Monday with Jackson Mayor Jerry Gist to announce a $60-million down payment assistance program.
The THDA is offering a $15,000 down payment assistance to great choice-eligible home buyers who purchase a home in the targeted neighborhoods that were hit hard by the economic downturn and have been slow to recover in Madison County and across the state.
“We think this will encourage many more people to take that step into home ownership make it easier for them to do that and in so doing buy their own piece of the American Dream,” said Ralph M. Perry, executive director of the THDA.
Eligible borrowers who purchase homes in targeted zip codes using THDA’s Greatest Choice Home Loan program can apply for $15,000 in assistance toward their down payment and closing cost in the form of a forgivable second mortgage loan..
