CLARKSVILLE, Tenn. – Several local lenders and real estate professionals received a hearty “thank you” this week from Ralph Perrey, executive director of the Tennessee Housing Development Agency, for their effectiveness in helping homebuyers use THDA programs.
Earlier this year, THDA announced a new program -- Hardest Hit Fund Down Payment Assistance (HHF-DPA) program -- which offers an additional $15,000 to homebuyers who use a THDA Great Choice mortgage to purchase a home in neighborhoods hard hit by the 2009 national economic downturn and have been slower to recover.
Perrey said that so far lenders and realtors in Clarksville have directed $3.75 million from the programs to 28 local homebuyers since March 1, the highest total of any community in Tennessee.
“I want to say thanks on behalf of THDA for your help in explaining and promoting these programs to the homebuyers who need them,” Perrey said to the group assembled at City Hall on Tuesday afternoon.
The lenders and their representatives who gathered with Perrey, Clarksville Mayor Kim McMillan and state Rep. Joe Pitts were:
* Cumberland Bank and Trust: Tammy Trice and Corey La Mothe.
* Fairway Independent Mortgage Corp.: Tracy Schmittou and Derek Vandlen.
* F & M Bank: Yolanda Stewart, Chad Winn and Rod Hawkins.
* Victorian Finance: Lisa Demonbreun and Julie Rhoades.
* The Housing Fund: Angela Belcher.
* The Clarksville Association of Realtors: Deb-Haines Kulick.
“It’s really exciting how successful this program has been so far,” Mayor Kim McMillan said. “This is helping us renew and reinvigorate the housing market in some of the neighborhoods that need it most. This is a great opportunity for people in the market for their first home to have a larger down payment than they might have thought possible.”
Eligible borrowers who purchase homes in targeted ZIP Codes using THDA’s Great Choice Home Loan program can apply for $15,000 in HHF-DPA assistance toward their down payment and closing costs in the form of a forgivable second mortgage loan. Targeted Zip Codes in Clarksville-Montgomery County are 37040 and 37042.
Statewide, TDHA was approved for $60 million in federal funding to its HHF Down Payment Assistance Program.