Tennessee Housing Development Agency

About Us The Tennessee Housing Development Agency (THDA) was created by the General Assembly in 1973 as the state's housing finance agency. Purpose THDA's purpose is to: - Promote the production of more affordable new housing units for very low-, low-, and moderate-income individuals and families in Tennessee; - Promote the preservation and rehabilitation of existing housing units for very low-, low-, and moderate-income individuals and families; - Bring greater stability to the residential construction industry and related industries so as to assure a steady flow of production of new housing units. THDA offers loan products through private-sector lending partners that help Tennesseans achieve the goal of homeownership. All THDA loans have 30-year, fixed-rate terms and offer down payment assistance as an optional second loan. Further, THDA provides servicing for these loans through Volunteer Mortgage Loan Servicing. Proceeds from these loans directly support the operations of THDA and are reinvested in our state through THDA's programs and grant initiatives.