“No Money Down? No Problem: 10 Down Payment Assistance Programs Helping Tennessee Buyers Get the Keys”

What Is Down Payment Assistance?

Down payment assistance (DPA) is money offered to homebuyers often through a lender-approved program—that can cover part or all of your required down payment, and sometimes even closing costs.

The assistance can come in one of three forms:

• Grants (you don’t have to pay them back)
• Forgivable loans (you don’t repay if you stay in the home a certain time)
• Repayable loans (paid back over time, often with little to no interest)

The key is matching the right buyer with the right program. And that’s where I come in.

🔑 10 Down Payment Assistance Programs You Should Know About

Let’s break down ten of the most effective programs I offer right now—designed to help buyers in Middle Tennessee secure the bag and the keys.

1. DPA Advantage

• Type: Grant — no repayment
• Assistance: 2% or 3.5% of the purchase price
• Who Qualifies: First responders, educators, military, medical personnel, and others
• Min Credit Score: 620
• Bonus: Can be paired with 6% seller concessions for closing costs

This one’s a true gift; no second lien, no strings. Just real help.

2. Choice DPA / Plus / Select Suite

• Type: 2nd Lien DPA (forgivable or repayable)
• Assistance: Up to 5% including closing cost help
• Who Qualifies: No first-time buyer or income requirements
• Min Credit Score: 620–660+
• Bonus: 100% financing available + manual underwriting OK

Perfect for flexible scenarios and buyers who need creative structuring.

3. SmartBuy DPA

• Type: Forgivable or Repayable
• Assistance: 5-year forgivable or 10-year repayable
• Unique Feature: Uses a blended score for co-borrowers
• Min Credit Score: 620+
• Bonus: Works with double-wide manufactured homes

A smart play when one borrower’s credit is stronger than the other.

4. Jet 100% CLTV & 101.5% Deluxe

• Type: Forgivable or Repayable
• Assistance: Up to 101.5% CLTV (covers DP + some closing costs)
• Min Credit Score: 620+
• Bonus: 2/1 buydown option, no income or FTB restrictions

A killer option when you need more than just down payment support.

5. LL Prime DPA

• Type: 10-Year Second Lien
• Assistance: 3.5% of purchase price
• Min Credit Score: 600
• Bonus: Works for 1–2 unit homes, condos, and manufactured housing

A great option for clients rebuilding credit who still want solid terms.

6. BOOST DPA – FHA

• Type: Forgivable or Repayable
• Assistance: 3.5% or 5%
• Min Credit Score: 580+ (640 manual)
• Bonus: Works with double-wide manufactured homes

If your buyer needs flexibility with FICO and structure, BOOST delivers.

7. BOOST DPA – USDA

• Type: Repayable
• Assistance: 3.5% or 5%
• Min Credit Score: 640+
• Bonus: Follows USDA income/location limits + double-wide MH allowed

For rural buyers needing 100% financing plus help with upfront costs.

8. ELEVATE Grant – FHA

• Type: Grant — no repayment
• Assistance: 2% or 3.5%
• Min Credit Score: 620
• Bonus: Up to 160% AMI | Allows DACA & non-occupant co-borrowers

This program elevates flexibility with fewer restrictions.

9. ELEVATE Grant – Conventional

• Type: Forgivable Grant
• Assistance: 1%, 2%, or 3%
• Max CLTV: 105%
• Min Credit Score: 620
• Bonus: Works with HomeReady & Home Possible for max affordability

Perfect for clients qualifying for conventional with tight funds.

10. AURORA DPA – FHA

• Type: Forgivable or Repayable
• Assistance: 3.5% or 5%
• Min Credit Score: 600+ (620 for MH)
• Bonus: Covers townhomes, modular, PUDs, and more

Designed for flexibility on property type and borrower scenario.

Do I Qualify for DPA?

Here’s the good news: You don’t need to be perfect. In fact, most programs are more accessible than people think. You might qualify if:

• Your credit score is 580 or higher
• You plan to live in the home
• You're buying a primary residence
• Your income falls under 160% of the area median income (depending on the program)
• You’re a first-time buyer... or not

Many also allow for non-occupant co-borrowers, manufactured homes, and manual underwriting if needed.

What’s the Catch?

Honestly? There isn’t one. These are real programs designed to help real buyers become homeowners. You’ll need to complete a homebuyer education course in most cases, and some assistance may be structured as a second lien (repayable or forgivable). But none of these programs are gimmicks. They’re tools and you’ve got access to all of them.

Ready to See What You Qualify For?

If you’ve got the motivation, I’ve got the map.

Click below to explore your down payment assistance options, and I’ll personally walk you through what works best for your goals.

👉 Apply Now for Down Payment Assistance or contact us today at 615.364.5700

Frank Burks II
Certified Mortgage Advisor
NMLS #841644
📞 615.364.5700
🌐 www.theburkslendinggroup.com

Let’s get you into a home without letting cash hold you back.