Finance
The Tennessee Housing Development Agency (THDA) provides:
ACommercial mortgage financing for Tennessee businesses
BBelow-market rate mortgage loans and down payment assistance for qualifying Tennessee homebuyers✓ Correct
CProperty tax relief for Tennessee seniors
DFlood insurance for properties in Tennessee flood zones
Explanation
THDA is Tennessee's housing finance agency that offers affordable mortgage financing, down payment assistance, and homebuyer education programs for low-to-moderate income first-time homebuyers in Tennessee.
People Also Study
Related Tennessee Questions
- Tennessee's first-time homebuyer programs through THDA are designed to help:Finance
- In Tennessee, which type of loan program is designed to help low-to-moderate income Tennessee homebuyers through the Tennessee Housing Development Agency?Finance
- A 'blanket mortgage' in Tennessee development financing covers:Finance
- A Tennessee borrower has a gross monthly income of $5,500. The lender uses a 28% front-end ratio. What is the maximum monthly housing payment allowed?Finance
- A Tennessee lender requires a maximum 28% housing ratio. A borrower's gross monthly income is $6,500. What is the maximum monthly PITI payment?Real Estate Math
- A Tennessee property is purchased for $440,000 with a 25% down payment. What is the mortgage amount?Real Estate Math
- In Tennessee, a buyer's agency agreement typically provides that the buyer's agent receives compensation:Agency
- Which Tennessee city has been known for its active fair housing initiatives related to rapid development and gentrification?Fair Housing
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Math Concepts
Study This Topic
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →