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THDA wins approval to seek up to $550 million in mortgage revenue bonds for first-time homebuyer loans
Summary
The Tennessee Housing Development Agency asked the State Funding Board to approve a financing schedule not to exceed $550 million to fund mortgage programs for first-time homebuyers; the board approved the request by voice vote.
Michelle Bosch, chief financial officer for the Tennessee Housing Development Agency, asked the State Funding Board on June 23 to approve THDA's fiscal-year 2026 schedule of financing in an amount not to exceed $550 million.
Bosch said the $550 million maximum would be used to fund mortgages for first-time homebuyers through two mortgage revenue bond financings, with one issuance planned for late fall and a second planned for late winter or early spring of fiscal 2026.
Members moved, seconded and approved the request by voice vote. The meeting transcript records the motion, second and an affirmative voice vote but does not record a roll-call tally in the transcript.
THDA staff said the financing will support mortgage programs targeted at first-time homebuyers; no further underwriting or program details were presented during the board meeting.
