Rules & Regulations of the State of Tennessee
Title 0770 - Housing Development
Chapter 0770-04-02 - Homeownership Program
Section 0770-04-02-.10 - LOAN APPROVAL

(1) Loans using THDA bond proceeds shall be approved with requisite documentation in the manner provided in the rules governing the THDA single family program.

(2) Loans using funds from a private lender shall provide the documentation required in this rule. If the mortgage is being made by a private lender, the Agency shall consider the loan approved if the lender has issued a commitment and has provided the necessary documentation in support of the commitment. When the necessary documentation has been forwarded and the agency has verified that the program requirements have been met, the Agency shall request that a check be issued for the State funded portion of the loan. The necessary documentation shall be as follows:

Loan Application

Employment Verification(s)

Prior Employment Verification(s) Non-Discrimination Certification

Credit Report

Appraisal Report, CRV or Conditional Commitment

Photographs of Security

Deposit Verification(s)

Sales Contract

Commitment of Mortgage Ins./Guaranty

Financial Statement (if self employed)

Profit or Loss Statement/Balance Sheet (if self employed)

Business Credit Report (if self employed)