June is National Homeownership Month and we are celebrating with weekly special newsletters highlighting our programs and opportunities, introducing our teams, thanking long-term partners, and more.

Look for a new issue every Tuesday this month!

NEWS YOU CAN USE

INCOME LIMITS INCREASE STATEWIDE

In case you missed it last month, the THDA Board of Directors voted to increase the income limits for all counties in Tennessee.

Please take a moment to review Lender Notice #2024-21 Income Limit Increases and General Updates.

Click Here for New Limits

THDA PROGRAM HIGHLIGHTS

Benefits of Great Choice

30-Year Term - Your monthly payments are spread out across 30 years to keep them affordable.
Fixed Interest Rate -Interest rate never changes throughout the entire life of the loan.
Minimum Credit Score - The credit score of everyone on your loan application must be at least 640, or no credit score, THDA allows for alternative credit when borrowers do not have a credit score.
Manufactured Housing - Use the Great Choice Home Loan to purchase an Agency approved manufactured home!

Benefits of HFA Advantage

No first time homebuyer requirement
Income limits apply differently for the HFA Advantage than Great Choice
Qualifying income of the borrower(s) on the loan is used instead of household income limits

From left to right: Kay Leyhew, Rhonda Ellis, Paulie Crone,

Sheila Gunsell, Samantha Thacker, and Kelly Murph

Not pictured: Bryan Yoshino, Joseph Uvanni

TEAM SPOTLIGHT: UNDERWRITING

The THDA Processing and Underwriting Team features a unique blend of seasoned THDA employees as well as newer staff with extensive prior lending experience, many of whom bring FHA and VA designations to the table. In addition, two members of the team hold the MBA Certified Mortgage Banking Compliance Professional (CMCP) designation.

The team consists of three processors and four underwriters, with one processor currently pursuing underwriting certification. Collectively, they possess extensive knowledge covering all agency guidelines and THDA requirements.

Team Spotlight: Administration

Russell Catron

SFLO Program Development Coordinator

Russell is our THELMA whisperer! Whenever a lender is having an issue with our LOS, he's the one to sort it out. Russell also provides support for our New Start Partners and hosts our Lender Q&A Training sessions in addition to launching and implementing a multitude of internal projects - helpful since he is currently working on the Project Management Certification requirements.

In his free time, he enjoys playing soccer and volleyball, fishing, being outdoors, and reading.

Amber Holland

SFLO Administrative

Coordinator

In addition to serving as our staff event planner and admin guru, Amber is also responsible for all lender renewals as well as new lender application management. She coordinates our Housing Industry Advisory Board, provides support to the entire division, and most importantly, fulfills the "other duties as assigned" piece of her job description with a smile.

In her free time, she enjoys traveling, spending time with her pets and family, learning karate, and watching true crime shows.

PARTNER SPOTLIGHT

Top THDA Lending Partner for 2023

MIG has submitted over 600 loan applications totaling nearly $128 million. We sincerely appreciate their support for THDA and our mission, as well as the overall impact they have had on affordable housing opportunities over the years. We look forward to continuing the work with them, helping fulfill the dream of safe, affordable housing for all Tennesseans.

Top Real Estate Agent Listed for THDA in 2023

Sarah Richards

Spring Mountain Realty

We would like to take a moment to extend a warm welcome to Sarah, the new representative from East TN Realtors on our Housing Industry Advisory Board. We are grateful for her support of THDA and her dedication to helping homebuyers achieve their goal of homeownership.

Sarah was the top listed Real Estate Agent for THDA loans in 2023 and we genuinely appreciate her support and look forward to continuing our work together!

TRAINING OPPORTUNITIES

Lender Q&A Training is back!

The panel will provide a brief presentation along with answering the most frequently asked questions. There will be time at the end for any participant questions related to the program.

June 13 at 1:00PM CT/2:00PM ET

What is credit worthiness, how is it documented?