THDA Offers $120M in Homeownership Bonds

The Tennessee Housing Development Agency has announced an offering of $120 million of Homeownership Program Bonds to retail and institutional investors, the largest such offering in six years.The large bond size stems from growing demand for the THDA's 30-year single-family mortgages, the agency said. "A variety of factors have led to the unprecedented demand for THDA's first-time homebuyer program, including more emphasis on training and outreach," said Ted R. Fellman, executive director of the agency. "In addition, we introduced a third mortgage option, giving qualifying homebuyers the ability to choose the program that best meets their individual needs. Homebuyers that choose less downpayment or closing cost assistance receive the lowest mortgage rate." The agency can be found online at http://www.tennessee.gov/thda/index.htm.