ARE YOU READY TO OWN A HOME?
Life of Victory Christian Ministries
The Great Choice Loan Program offers downpayment assistance and 30-year fixed interest rate mortgage loans to qualified Tennesseans.
For first-time homebuyers, one of the greatest obstacles in the home-ownership process is saving the money to cover the down-payment and closing costs. The Great Choice Loan Program provides qualified Tennesseans up to 4% down-payment assistance to be used with FHA, VA, USDA-Rural Development and uninsured conventional loans.
SPECIAL OFFER FOR REPEAT HOME-BUYERS
THDA mortgage products were designed for first-time homebuyers. However, in over 50 counties and certain neighborhoods across Tennessee, the first-time homebuyer restriction has been removed, and families that are currently homeowners may qualify for the Great Choice Loan Program if purchasing a new home in one of these areas.
“Homeownership for the Brave,” provides a ½% rate reduction on the current interest rate for Great Choice loans. In addition to the rate reduction, "Home-ownership for the Brave" applicants are eligible for optional down-payment and closing cost assistance through the Great Choice Plus second mortgage loan at a 0% interest rate.
LIFE OF VICTORY INTERNATIONAL CHRISTIAN MINISTRIES
Tennessee Housing Development Agency & HOME FREE USA
www.LifeofVictoryMinistries.com
Brendal.lifeofvictory@comcast.net
615 213-1468Life of Victory Ministries serves Middle Tennessee
Located in industrial park just off Waldron Road
144 Bain Drive, Suite 200, La Vergne, TN 37086.
HOW DO I GET STARTED?
The Tennessee Housing Development Agency (THDA) encourages the following action steps depending on your level of familiarity with the homebuying process:
1- Homebuyer Education Course: For those just starting out on the homeownership journey, THDA recommends you take a homebuyer education course. For THDA loans providing downpayment assistance, homebuyer education is a requirement, and courses are offered in two formats - classroom style and online. Both formats are offered by Life of Victory International Christian Ministries and cover the following:
- Steps to homeownership
- Clarify common, but confusing, mortgage concepts like title insurance and PMI
- Outline various mortgage types, including THDA’s Great Choice Loan Program
- Develop an understanding of budgeting and credit scores
- Connect you with a trainer who can act as a resource throughout the homeownership process