New Rise Up Program offers $25,000 to help first-time homebuyers

Do you want to buy a house but don’t think you have enough money for a down payment or closing costs? We have a new program that could help! We partnered with the Federal Home Loan Bank of Cincinnati and its member banks across West Tennessee to bring the Rise Up Program to our region. Now, first-time, first-generation homebuyers in 21 Tennessee counties can apply for $25,000 grants to go toward their dream homes.  

What is the Rise Up Program?

The Rise Up program helps people who have never owned a home get a financial boost when buying their first house. The program gives $25,000 in grant funds for down payment and/or closing costs. Because it’s a grant, you don’t have to pay the money back! 

Who is eligible?

You can apply if you:

• Have not owned a home in the last three years.

• Are a first-generation homebuyer (your parents/guardians have never owned a home).

• Have a household income at or below 120% of the HUD limit for your county. View income limits here.

• Take a HUD-approved homebuyer education class. (UHI has in-person and online options to choose from.)

• Contribute at least $500 of your own money toward the home’s purchase.

How can you apply?

• You can apply through a FHLB member bank (not directly through UHI).

• A lender from one of these banks will help you start the mortgage process while you finish your homebuyer education course.

Rise Up is available in Benton, Carroll, Chester, Crockett, Decatur, Dyer, Fayette, Gibson, Hardeman, Hardin, Haywood, Henderson, Henry, Lake, Lauderdale, Madison, McNairy, Obion, Shelby, Tipton and Weakly Counties in Tennessee. Contact riseup@uhinc.org with any questions!