THDA help for Tennessee buyers · As of 10-28-2026
Great Choice or Freddie Mac HFA Advantage?
Two loans a THDA-approved lender may offer. They have different rules, so the same buyer can fit one and not the other. This page lines up what to ask. It does not rank them.
Checked against THDA's own page text
- A buyer who has not lived in a home they owned in the last 3 years may be a first-time buyer under THDA's rule. Repeat buyers may also be eligible in a targeted county or area, or as qualified military and spouse. THDA lists 43 counties as targeted, and designated areas in additional counties. As of 10-28-2026.
- THDA's minimum credit score is 640. As of 10-28-2026.
- Great Choice Plus and Homeownership Heroes need a THDA-approved homebuyer course. As of 10-28-2026.
In plain words: a general explanation, not a rule sheet. THDA's own pages decide.
| Question to ask | Great Choice | Freddie Mac HFA Advantage |
|---|---|---|
| Does the first-time buyer rule apply? | It uses THDA's first-time buyer rule, with exceptions for targeted areas and for qualified military and spouse. | It has its own rules for repeat buyers. Ask the lender. |
| What is the minimum credit score? | THDA's minimum is on this page, as of its date. A lender may ask for more. | Ask the lender for its minimum. |
| Can down payment help go with it? | Great Choice Plus adds down payment help, and it needs the homebuyer course. | Ask the lender whether help can go with it. |
| Does the land or the home type matter? | It can. Land size, 2 to 4 unit buildings and manufactured homes each have rules. | It can, and the rules differ from Great Choice. Ask the lender. |
| Who decides? | A THDA-approved lender, with THDA. | A THDA-approved lender. |
Why a lender compares them
Each loan has its own rules for ownership history, the kind of home and the land. A THDA-approved lender can put the two side by side for your situation, and the answer can change from one buyer to the next.
Two questions for every lender
Which of the two loans do you suggest for me, and why? Do you add any rules of your own? Ask the same two of every lender you talk to.
About the colours
You may hear the two loans called by colours. THDA has not confirmed those nicknames for us, so we use the loan names.
What this page holds back
Any figure marked "As of" was checked at thda.org on that day. The price limit, the county income limits and other amounts are not printed here until a person has checked them. They change, and they depend on your county and household.
Limits vary by county and change. Ask a THDA-approved lender. THDA's own limits page.
Check where you stand
- Which loan fits: Great Choice or Freddie Mac HFA Advantage? (4 questions, about 2 minutes)
- First-time buyer check (3 questions, about 2 minutes)
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