THDA is the state housing finance agency. Our mission is to lead Tennessee home by creating safe, sound, affordable housing opportunities. THDA was created to promote the production of more affordable new housing units for Tennessee households of very low, low and moderate income, to promote the preservation and rehabilitation of existing housing units for such persons, and to bring greater stability to the residential construction industry and related industries so as to assure a steady flow of production of new housing units. In addition to serving as the primary administrator for numerous federal and state housing programs, THDA has been granted the authority to issue tax-exempt Mortgage Revenue Bonds to support financing opportunities for first-time homebuyers and veterans. THDA is not a direct mortgage lender. THDA purchases qualified mortgages originated through its private-sector lending partners. All THDA mortgages have 30-year, fixed-rate terms, and THDA offers up to 4% in down-payment assistance. All homebuyers receiving down-payment assistance must complete an eight-hour, pre-purchase counseling course.