One of the biggest challenges facing first-time homebuyers is having enough money for closing. Northpointe Bank offers several programs that can help. In partnership with the Tennessee Housing Development Agency, Northpointe Bank offers qualified borrowers a competitive fixed-rate home loan with 6% of the sales price or up to $6,000 in down payment and closing cost assistance. Buying a home may be more affordable than you think.
Eligible for new or existing properties purchased anywhere in Tennessee
6% of the sales price1 or up to $6,0002 in down payment assistance to accompany your Great Choice Tennessee Housing home loan
Eligible borrowers must not have owned a home in the past three years, purchase a home in a targeted area or participate in the Homeownership for the Brave Veteran’s exception program
Homebuyer education course is required
Income limitations apply
1 - 6% in down payment and closing cost assistance in the form of a forgivable 15-year second mortgage with an interest rate equal to the first mortgage due upon sale, refinance or transfer of property. Monthly payment must be considered in the debt-to-income ratio. 2 - $6,000 in down payment and closing cost assistance in the form of a forgivable 30-year 0% second mortgage due upon sale, refinance, or transfer of property. No monthly payment is required for the second mortgage. This is not a commitment to lend. All loans subject to credit review and approval.