City of Knoxville Down-Payment Assistance Program

City of Knoxville Down-Payment Assistance Program is a deferred second loan for homebuyers in Knoxville, Tennessee, administered by City of Knoxville, Housing & Neighborhood Development Department. City program to increase homeownership rates in Knoxville by providing down-payment assistance to income-eligible buyers. Assistance is available only on homes developed by the City's nonprofit partners. Down-payment assistance reported as up to 10% of the purchase price, capped at $10,000, for eligible homes within Knoxville city limits. Funding comes from Federal - HUD (City of Knoxville HOME/CDBG).

City of Knoxville Down-Payment Assistance Program offers up to $10,000 in assistance. Amounts are the program's published maximums, not an offer — City of Knoxville, Housing & Neighborhood Development Department determines any individual award.

City of Knoxville Down-Payment Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Knoxville Down-Payment Assistance Program is open to homebuyers who will live in the home as their primary residence. Residency requirement: Home must be within Knoxville city limits and developed by a partner organization. Funds available ONLY for homes that are (or will be) developed by Home Source East Tennessee, Neighborhood Housing Inc., or East Tennessee Housing Development Corporation. The $10,000 / 10% cap is from secondary summaries; the official program page did not render numeric limits, so amount and income limits should be re-verified directly with the City. Reduced restrictions reportedly apply to police, firefighters, and teachers (needs primary-source confirmation).

City of Knoxville Down-Payment Assistance Program sets its income limit as follows: Low-income limits by household size (HUD-determined; specific figures not confirmed from primary source). The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Knoxville Down-Payment Assistance Program serves homebuyers purchasing in Knoxville, Tennessee.

Applications for City of Knoxville Down-Payment Assistance Program go through City of Knoxville, Housing & Neighborhood Development Department, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.