Tennessee Housing Development Agency (THDA) has reduced the interest rate on Great Choice Home Loans.
THDA developed the Great Choice Home Loan program to make homeownership more accessible and affordable to middle income Tennesseans.
The interest rate on a 30-year mortgage loan dropped just over one-tenth of a percentage point to 3.99 percent (5.71 percent APR).
Eligible veterans, active duty military, and National Guardsmen will receive an interest rate of 3.49 percent (3.92 percent APR).
Qualified homebuyers are eligible for down payment and closing costs assistance up to four percent of the sales price of the home.
For more information, visit GreatChoiceTN.com.