Neighborhood Stabilization Program for Portions of SW Tennessee

Jeremy Helton, a real estate broker with Lankford Realty Company has eleven (11) properties offered for sale which were purchased and rehabilitated using Neighborhood Stabilization Program funds (NSP). The funds were available through the Tennessee Housing Development Agency and the properties were purchased and administered by Southwest HRA in Henderson, TN. Properties will are available to qualifying purchasers in the following counties: Decatur, Hardeman, Hardin, Haywood, Henderson, and McNairy.

Purchasers of the properties may be awarded a principal balance subsidy that in most cases will be forgiven after 15 years. The primary requirement will be that the property is used as the purchaser’s primary residence during this time period.

Qualifying financing options will include:

THDA Great Rate Mortgage
USDA Rural Development Direct Loan
Habitat for Humanity 0% mortgage loan
Other non-profit sponsored first mortgage loan (prior approval of THDA)

Other means of financing will not be accepted by the program administrator or THDA. If you are interested in qualifying for the THDA Great Rate Mortgage, you may contact Tammy or Angie with First State Mortgage at 731-772-2343. Other Great Rate program providers will also be accepted.

Qualifying income requirement:

Household income must be at or below 120% of the area median income. (defined by the Section 8 Rental Assistance Program) Individual county income limits are broken down here. CLICK HERE

For more information about the Neighborhood Stabilization Program and how it works CLICK HERE to be directed to THDA’s NSP Guide.

For detailed property information please select from the list below:

830 BUTLER ST, Boliver, TN: Hardeman County

1633 GEORGIA AVE, Parsons, TN: Decatur County

59 W SMITH LN Finger, TN: McNairy County

2210 WESTWOOD CIR, Selmer, TN: McNairy County

214 EDGEWOOD DR, Adamsville, TN: McNairy County CONTRACT PENDING

1123 CIRCLE HILL DR, Selmer, TN: McNairy County

450 CEDAR CV, Savannah, TN: Hardin County SOLD!!!

567 SCARCE CREEK RD, Lexington, TN: Henderson County

238 JAMIE LYNN DR, Lexington, TN: Henderson County

143 COUNTRY LN, Brownsville, TN: Haywood County