As realtors in Nashville, we know that saving for a down payment is one of the biggest challenges to homeownership, especially for low-to-moderate-income buyers. Thankfully, The Housing Fund, in conjunction with Amazon, offers two excellent down payment assistance programs that can provide vital help.

Down Payment Assistance Loans Up to $35,000

The Housing Fund’s Down Payment Assistance program offers affordable loans up to $35,000 to cover the down payment, prepaids, and closing costs. To qualify, home buyers must:
– Use the home as their primary residence
– Get approved for a first mortgage with a Tennessee FHA-approved lender
– Complete a homebuyer education course from a THDA-certified counselor
– Contribute at least 1% of the sales price
– Have an income of less than 120% of the area median income (*chart below)

These 0% interest loans get repaid when the homeowner sells or refinances, making homeownership affordable now.

Shared Equity for Low Down Payments

The Shared Equity program helps income-qualified buyers purchase a home with little money down. Here’s how it works:
– The Housing Fund contributes 25% of the purchase price
– The buyer gets a 30-year mortgage for 74% of the price
– The buyer only needs 1% of the purchase price out-of-pocket
– Have an income of less than 120% of the area median income (*chart below)

When the home is eventually sold, The Housing Fund gets their 25% equity share back at 0% interest. Any remaining home appreciation is split 50/50 with the buyer. This allows the program to be recycled to help future buyers.

First-time home buyers with a household income at or below 120% of the area median income can qualify after completing a homebuyer education class.

These Nashville down payment assistance programs make homeownership affordable by drastically reducing the down payment burden and letting buyers start building equity immediately.

If you or someone you know needs help affording a down payment, we can provide full details on program qualifications and help determine eligibility. With support, the dream of owning a home in Nashville is possible!

*These programs are offered throughout Tennessee, but income limits vary by county and family size. The 2024 income limits for Davidson County:


1 person
$ 89,775

2 people
$ 102,600

3 people
$ 115,425

4 people
$ 128,250

5 people
$ 138,525

6 people
$ 148,800

7 people
$ 159,075

8 people
$ 169,350