Down Payment Assistance Grant Application
*NOTE: Only Version 25.01 (updated 1/6/2025) will be accepted for consideration. Old versions will be returned to be completed on the correct document which may cause delays in response time.
Click the link above to download the application. All applications should be emailed to SOS@clarksvilleaor.com.
A limited number of downpayment grants are available each year. If the funds for the year have been exhausted, this page will be updated and the new date for available funds will be posted.
Our goal is for more members of our community to achieve the goal of home ownership and hope that these grants will help to open this door for many.
All applications, documents and communication should be directed to the Executive Officer of the CARSOSF at SOS@clarksvilleaor.com.
The following items are due to be initially considered for the grant:
Completed Initial Application
Signed Grant Information
Signed Authorization to Release Information
Those who have applied for a grant will be notified by email as to whether they have be awarded funds within 14 days of application.
Grants are not retroactive, meaning that they can not be awarded to home buyers who have already closed on their purchase.
If you are awarded a grant, the following information must be sent to the CARSOSF as soon as is available:
Supporting Information and Documentation Page
Proof of loan application as described on the Supporting Information Page
Copy of Purchase and Sale Agreement
A Notification and Certification will be sent to your mortgage lender for their completion. We may need your assistance in getting this document returned to us with the required information.
Your lender should inform the closing company of these funds.
Grant funds will be sent directly to the closing company when the final Closing Statement has been issued.
Program Information
This grant is limited to subject properties in Montgomery and Stewart counties in Tennessee.
This grant is not limited to first-time homebuyers however, the subject property must be owner occupied. This grant is not intended for those purchasing investment properties.
The buyer(s) must be working with, and entered into a valid and active agency agreement with, a REALTOR® member of the Clarksville Association of REALTORS®. The grant application must be signed by that REALTOR®. The REALTOR® shall be the party to submit the grant application to CARSOSF.
The buyer(s) must qualify for a mortgage through an active NMLS licensed lender and provide documentation of such at the time of application.
The buyer(s) are not limited in the type of loan obtained (conventional, VA, FHA, etc.)
The total household income limits shall be no higher than the current Tennessee Housing Development Agency (THDA) Great Choice program limits for the county of the subject property as of the date of application.
The final purchase price of the subject property shall be no higher than the current median sales price for the county it is located in on the day of application, based on a rolling 12-month average. This median shall be identified by reports in the Realtracs Multiple Listing Service.
Grants are in the amount of $1,000 and can only be used for closing costs and/or down payment assistance.
Grants awarded do not have any repayment stipulations.
Grant funds will be paid directly to the closing agency by the Foundation in a manner acceptable to the closing agency.
If an applicant is receiving grant monies from other organizations, they will still be eligible for Foundation funds, however, it is strongly recommended that the applicant contact the other organizations for their policies on this issue.
Grants are awarded on a first come, first served basis of those that meet all requirements from a pool of available funds.
Grants may be applied for no later than 5 business days prior to scheduled closing.
Applications will be reviewed and applicants notified of qualification within 14 calendar days of the confirmation of receipt of application.
Approvals are valid and funds will be available for use for up to 90 days from the date of notification of approval. Should the buyer(s) be in a valid binding contract but not yet closed by the expiration of the 90 day period, extension requests will be considered by the review committee on a case-by-case basis.
The applicants must complete the grant application and it is to be signed by and submitted to CARSOSF by their REALTOR®.
The applicants must each sign a copy of the Release of Information and this Grant Information. A separate copy of each is required from each applicant.
Any applicants who are not selected for the grant may reapply at any time if their qualification status changes.
By submitting an application, the applicant(s) agree to CARSOS’ use of the applicant(s) name and/or likeness in media and advertising efforts to promote the program and the Foundation. Photos of the applicant(s) and their purchased home may be requested.
Exclusions
Grants cannot be awarded to Clarksville Association of REALTORS® Spreading Our Support Foundation officers, directors, review committee members or their immediate family members (no inurement of benefit, no private benefit – that would include not awarding grants to applicants who are being represented in a pending transaction by an officer, director or review committee member). Immediate family members are defined as spouses, children (by birth or by adoption), siblings (by birth or adoption), and parents (by birth or by adoption).
REALTORS® representing themselves or their spouses in their own home buying transaction are ineligible.