Down Payment Assistance

Chattanooga Neighborhood Lending's Down Payment Assistance Program is designed to help homebuyers cover closing costs and down payments included in home purchase. Down payment assistance up to $25,000 will act as a second mortgage loan becoming payable on a monthly basis after the purchase date. It will begin amortizing in year one, at a rate of the first mortgage and would be paid off in a maximum of 15 years. There is no pre-payment penalty.

Qualification is dependent on your household size and income. Chattanooga Neighborhood Lending’s Down Payment Assistance is available in Bledsoe, Bradley, Grundy, Hamilton, Marion, McMinn, Meigs, Polk, Rhea and Sequatchie counties.

City Down Payment Assistance

Chattanooga Neighborhood Lending also offers a down payment assistance option through the City of Chattanooga. To qualify, the home must be located within Chattanooga city limits; it cannot be occupied by a tenant at time of sale; and it must go through a Housing Quality Inspection. Household income and purchase price are also qualifiers.

ITIN Loans

Chattanooga Neighborhood Lending now partners to offer ITIN products. These loans allow those who do not have Social Security numbers to apply using their ITIN. Some preliminary qualifications include borrower having a down payment of 20% (payment can include gift funds); they must have an ITIN (SSN not required); no minimum credit score; they must provide at least one year of tax returns. Other conditions apply.

Home Improvement Loans

If your home is in need of repairs, you may qualify for a low or zero interest home repair loan through Chattanooga Neighborhood Lending and TRLP (Tennessee Repair Loan Program). We offer affordable financing for common home repairs including roofs, siding, windows, doors, foundations, plumbing, energy efficiency updates and more.