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The Clinch-Powell Hometeam works with its clients to help them get financing for home ownership. Financing is the key ingredient to buying a home, and we can help you get the best loan for your home purchase, based on income and what you are seeking.
Clinch-Powell has partnered with the Tennessee Housing Development Agency to make loans through THDA's New Start Program. These loans are between 0% and 3%, and are available only on new homes built by Clinch-Powell.
USDA Rural Housing Service loans (formally known as Farmers Home) These loans are subsidized down to a low as 1% interest to make them affordable to low-income rural residents. Clinch-Powell has an agreement with USDA to assemble and package the loan application on these loans.
Other loan programs: In cases where these two loans are not the best choice for a client, Clinch-Powell can help a client find a lender that offers a product that would benefit them.
For details contact us at (865) 828-5927
The Clinch-Powell Home Team can provide down payment assistance to cover down payment and closing costs in certain situations.
Down payment assistance is available almost exclusively on homes built by Clinch-Powell and utilizing low-interest loan programs through Clinch-Powell's partners. Down payment assistance is available only in certain areas and is limited.
Down payment assistance is usually secured by a second mortgage, which states the terms of the assistance. Most commonly, the second mortgage states that the homeowner must remain in the home for at least five full years, or have to pay back a portion of the assistance. In other cases, the mortgage might require the assistance to be paid back when the home is sold.