Homeownership for Heroes
Homeownership for Heroes for military and veterans
Active duty, National Guard, veterans and eligible spouses can use THDA Homeownership for Heroes. Veterans skip the first-time buyer rule statewide.
Who qualifies
Active-duty military, National Guard members, veterans and eligible spouses of veterans qualify. Your lender verifies with a Military LES or a DD-214 (DD-4 for re-enlistment). Veterans may also use THDA's Veteran Exemption Application Declaration (HO-0460).
Homeownership for Heroes is a THDA Great Choice home loan (FHA, VA or USDA, 30-year fixed) priced 0.5% below the standard Great Choice rate. Through Heroes Plus you can add one down payment option: a repayable 5% loan up to $15,000, a forgivable 0% loan of $6,000 or $10,000, or up to $25,000 repaid at 0% on a new-build home. You apply through a THDA-approved lender, not through THDA.
No first-time buyer requirement
THDA waives the 3-year first-time buyer rule for qualified veterans and military anywhere in Tennessee. If you've owned a home recently, you can still use the program.
VA plus Heroes
A VA loan can finance up to 100% of the price. Add the Heroes rate cut and, if you want it, a Heroes Plus option to help with closing costs.
Documents to have ready
- Military LES (active duty) or DD-214 (veterans); DD-4 for re-enlistment
- THDA Veteran Exemption Application Declaration (HO-0460), if used
- VA Certificate of Eligibility for a VA loan
- Pay stubs or benefit statements and tax returns
Common questions
Can spouses qualify?
Yes, eligible spouses of veterans are included.
I owned a home two years ago. Can I still use it?
Yes, if you're a qualified veteran or service member. THDA waives the first-time buyer rule for you statewide.
Do I have to live in the home?
Yes. You must move in within 60 days of closing and keep it as your principal residence.
