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Northeast Tennessee Virginia HOME Consortium Affordable Home-Ownership Program

Northeast Tennessee/Virginia HOME Consortium (Lead Entity: City of Bristol TN; delivery via First Tennessee Development District) · Sullivan County, Tennessee

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See what you qualify forOfficial program site →
Assistance

$1,000–$15,000

The maximum the program publishes — not an offer

Repayment

Deferred

No payments until the home is sold or refinanced

What is Northeast Tennessee Virginia HOME Consortium Affordable Home-Ownership Program?

Northeast Tennessee Virginia HOME Consortium Affordable Home-Ownership Program is a deferred second loan for homebuyers in Sullivan County, Tennessee, administered by Northeast Tennessee/Virginia HOME Consortium (Lead Entity: City of Bristol TN; delivery via First Tennessee Development District).

  • Regional first-time homebuyer DPA from the multi-jurisdiction HOME Consortium serving Bluff City, Bristol TN, Bristol VA, Johnson City, Kingsport, Sullivan County, and Washington County. Provides a due-on-sale deferred-payment loan for down payment and/or closing costs, partnered with a mortgage lender.
  • Between $1,000 and $15,000 in down payment and/or closing-cost assistance, amount based on need (subsidy analysis).
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from Federal - HUD HOME funds (plus other grant programs).

How much assistance does it provide?

Northeast Tennessee Virginia HOME Consortium Affordable Home-Ownership Program offers between $1,000 and $15,000 in assistance.

  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — Northeast Tennessee/Virginia HOME Consortium (Lead Entity: City of Bristol TN; delivery via First Tennessee Development District) determines any individual award.

Do you have to pay it back?

Northeast Tennessee Virginia HOME Consortium Affordable Home-Ownership Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Due-on-sale (deferred payment loan; repaid on sale or transfer).
  • The assistance is recorded in Subordinate lien (deferred, due-on-sale) position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Northeast Tennessee Virginia HOME Consortium Affordable Home-Ownership Program 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
  • Residency: Property within the Consortium service area (Bluff City, Bristol TN, Bristol VA, Johnson City, Kingsport, Sullivan County, Washington County).
  • Assistance amount determined by a Subsidy Analysis based on applicant need; subject to funding availability. Applicants strongly encouraged to contact the FTDD before applying.

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?

Northeast Tennessee Virginia HOME Consortium Affordable Home-Ownership Program sets its income limit as follows: Low- and moderate-income households (HOME income limits; specific table not published on this page).

  • 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?

Northeast Tennessee Virginia HOME Consortium Affordable Home-Ownership Program is a federal program, so it is not limited to Tennessee.

How do you apply?

Applications for Northeast Tennessee Virginia HOME Consortium Affordable Home-Ownership Program go through Northeast Tennessee/Virginia HOME Consortium (Lead Entity: City of Bristol TN; delivery via First Tennessee Development District), which publishes the current terms and the application steps on its own site.

  1. Contact Northeast Tennessee/Virginia HOME Consortium (Lead Entity: City of Bristol TN; delivery via First Tennessee Development District) to reserve funds

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

  2. 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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