THDA Promotes Great Choice Mortgage Loans in Dyer County


Nashville, TN – April 14, 2015 – (RealEstateRama) — Tennessee Housing Development Agency brought its Great Choice tour to Dyersburg today in partnership with the Dyersburg Board of REALTORS®. The goal of THDA’s tour is to raise awareness of its mortgage loan programs, and to tell consumers that homeownership might be closer than they imagined.

Ralph M. Perrey, executive director of THDA, assured local representatives that homeownership is more possible than generally thought.

“There’s a lot of talk out there that it’s very difficult to get a mortgage loan,” said Perrey. “We want to encourage people to take a look at THDA’s Great Choice mortgage loans. We have a lot of information at What you’ll find is a affordable rate on a 30-year fixed, no gimmick mortgage loan. We have downpayment and closing cost assistance and underwriting flexibility that we can offer as the state’s housing finance agency.”

Perrey met at the Dyer County Chamber of Commerce with local elected officials, Realtors®, mortgage lending professionals, and other community partners.

“We don’t assume that everyone knows what THDA has to offer,” said Perrey. “If you haven’t looked at THDA lately, you’ve missed a lot.

“We want to be top of mind (as you prepare customers). We think for a lot of customers, the THDA program is a great choice.”

Dyer County Mayor Chris Young asked how local industry could help promote the program. Perrey said THDA reps could attend local events and provide printed materials, and encouraged everyone to send customers to the consumer-friendly and mobile-ready website,

Tracy Latham, First Southern Real Estate, recalled THDA celebrating the 50,000th mortgage loan funded by THDA in the early 90’s. His associate, Diane Anderson found the home for the family on Jones Road.

“We still have the pictures,” said Latham.

In the last 18 months THDA has changed its mortgage product offerings, beefed up its downpayment and closing costs assistance, and been more proactive in consumer marketing and lender engagement.

THDA was established in 1973 to provide affordable mortgage financing to middle – moderate homebuyers. It is not a direct lender, it works through a statewide network of lenders including First Citizen’s National Bank, First State Bank, Security Bank, Mortgage Investors Group, and Regions. More detail about the range of THDA activities is found on

The Highway 51 tour began in Union City, visiting Ridgely, Dyersburg, Ripley and Covington. Additional tours are planned.

THDA has sales price and income limits and the majority of its mortgage loans go to first-time buyers. However, in 58 counties, including Dyer, the first-time limitation is waived. Eligible military homebuyers are offered a ½-point reduction in the mortgage interest rate. More information is available through lenders or on


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