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).

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.

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.

New Level CDC Matching Savings Plan is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Minimum credit score of 640 or the ability to reach that score. A homebuyer education course is required, through New Level CDC in-person Homebuyer Education class (also via eHomeAmerica.org/newlevelcdc). Residency requirement: 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.

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.

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

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. 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.