The Voice for Local Real Estate

Affordable Loan Products

This section contains descriptions of many different loan programs. This is just a starting point for homebuyers and REALTORS®. Your lender will know all the details of the programs and whether you qualify. Not all lenders offer the same products.

As you look through the information about the loans, you may have some questions. Click here for an explanation of terms and concepts you found in the loan section.


These loans are insured or guaranteed by the Federal Housing Administration, Department of Veterans Affairs or United States Department of Agriculture/ Rural Development. These agencies do not lend the money but provide lenders with insurance in case the borrower cannot repay the loan. This allows lenders to help first-time buyers and low- to moderate-income individuals purchase homes.


A conventional loan is available from your lender, but have requirements set by secondary investors, such as Fannie Mae and Freddie Mac.


These loans are offered by loan lenders and are unique to each lender.

Down Payment

One of the barriers to homeownership is the lack of funds for down payment. The City of Memphis, Shelby County and THDA offer down payment assistance in the form of low-interest loans or grants. 

Other programs

There are several programs that do not fit into the other standard types of loans. These financing programs or loans are offered by local organizations and are targeted to special audiences.