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DEFENSE COMMUNITIES 360

‘Homeownership for the Brave’ Program to Aid Tennessee’s Military Families

  • May 3, 2011
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The Tennessee Housing Development Agency is offering military families a one-half-percent interest reduction on home mortgages.

Active-duty military, reservists who have been called to active duty for at least 180 days, National Guard personnel, retirees and their spouses are eligible for three mortgage options with lenders approved by the agency, reported the Leaf Chronicle. One option offers a below-market interest rate loan secured by a first mortgage; two others offer assistance with down payment and closing costs.

Fort Campbell, which straddles the border of Tennessee and Kentucky, is home to more than 30,000 soldiers.

Separately, the Tennessee Senate’s Commerce Committee last month approved a measure extending unemployment benefits to individuals who leave their jobs as the result of a spouse’s military transfer. The state is one of only 12 that do not provide unemployment benefits for military spouses who quit their jobs due to a transfer, reported Clarksville Online.

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