American Dream Downpayment Initiative We are currently out of ADDI funds until July. This does not represent all information.  Other restrictions may apply.  THF lending policies apply for Davidson County. Assistance for Davidson County: A maximum of $10,000, no interest, due-on-sale or refinance, no monthly payment, 2nd mortgage loan for downpayment, closing and prepaid costs ADDI may be used with THF Nashville OWners Loans (NOW Loans) Eligibility: Household income is at or below 80% Area Median Income (Tier 2) Buyer is a first-time homebuyer House is the primary residence House must have a Housing Qualifications Standards inspection If house was built prior to 1978, a lead paint assessment is required First mortgage must be a FHA, THDA, VA or conforming conventional offered by a FHA TN-approved lender Buyer must also meet THF minimum lending requirements Requirements: Completed THDA homebuyer education class (prior to purchase) This is a loan that must be repaid upon sale, refinance, or other transfer of title.  It is not a grant or gift. Borrowers must contribute at least 1% of the sales price from their own funds to the purchase Enrollment: Interested borrowers should call THF at (615) 780-7000 to enroll in homebuyer education classes and for additional information Lenders should fill out the Request for Loan Approval Form; send the form to THF along with the backup documentation requested; and tell the client to call THF to begin the homebuyer education THF will work with the client's closing attorney to fund the loan and  funds will be wired at the time of closing Assistance outside Davidson County: For further information regarding ADDI funds outside Davidson County call THDA at (615) 815-2200 or The Housing Fund at (615) 780-7000.