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New Level CDC Matching Savings Plan

New Level Community Development Corporation (HUD-approved housing counseling agency) · Nashville, Tennessee

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Assistance

$2,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Grant

Not repaid

What is New Level CDC Matching Savings Plan?

New Level CDC Matching Savings Plan is a grant for homebuyers in Nashville, Tennessee, administered by New Level Community Development Corporation (HUD-approved housing counseling agency).

  • A matched-savings (IDA-style) down payment assistance program for Middle Tennessee that matches participant savings 1:1 to help first-time buyers cover down payment and closing costs. Participants save in a dedicated Republic Bank account over 3-12 months before closing.
  • Up to $2,000 in matching funds (1:1 match) toward down payment and closing costs.
  • Funding comes from New Level CDC (nonprofit / philanthropic).

How much assistance does it provide?

New Level CDC Matching Savings Plan offers up to $2,000 in assistance.

  • The program can be combined with THDA, The Housing Fund, local bank DPA programs.
  • Amounts are the program's published maximums, not an offer — New Level Community Development Corporation (HUD-approved housing counseling agency) determines any individual award.

Do you have to pay it back?

New Level CDC Matching Savings Plan is structured as a grant, so it is not repaid.

  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

New Level CDC Matching Savings Plan is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • On credit: Minimum credit score of 640 or the ability to reach that score.
  • A completed homebuyer education course, through New Level CDC in-person Homebuyer Education class (also via eHomeAmerica.org/newlevelcdc).
  • Residency: Middle Tennessee (Nashville area).
  • Participant must open a Republic Bank savings account and save up to $2,000 within 3-12 months before closing; the match is provided at closing. Must attend NLCDC in-person Homebuyer Education class.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

New Level CDC Matching Savings Plan limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% of Area Median Income.
  • 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.

Where does it apply?

New Level CDC Matching Savings Plan serves buyers purchasing in Nashville, Tennessee.

How do you apply?

Applications for New Level CDC Matching Savings Plan go through New Level Community Development Corporation (HUD-approved housing counseling agency), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through New Level CDC in-person Homebuyer Education class (also via eHomeAmerica.org/newlevelcdc)..

  2. Contact New Level Community Development Corporation (HUD-approved housing counseling agency) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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New Level CDC Matching Savings Plan, explained

A short, free course on New Level CDC Matching Savings Plan: what it is, who it is for, whether it has to be paid back, where it applies and how to apply. Based on program data from July 2026. About ten minutes.

5 modules · About 10 minutes

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