Tennessee Housing Development Agency - As introduced, enacts the "First-Time Homebuyer Assistance Program," which creates a first-time homebuyer assistance program, to be administered by the agency. - Amends TCA Title 5; Title 6; Title 7 and Title 13, Chapter 23.

HB 2236 creates Tennessee's "First-Time Homebuyer Assistance Program," administered by the Tennessee Housing Development Agency. It provides up to $20,000 in assistance to qualifying first-time homebuyers for down payments, closing costs, or permanent interest rate reductions on qualifying mortgage loans for homes priced at or below $450,000. Homebuyers must use the funds within 60 days of purchase, and if they sell or refinance before their mortgage term ends, they must repay 50% of their home equity gain or the assistance amount, whichever is lower. The program applies only to homes in Tennessee that meet specific ownership and construction criteria. The bill is currently pending review by the Cities & Counties Subcommittee.