Are you concerned about saving for the down payment? The Tennesse Housing Development Housing offers down payment assistance for down payment and closing costs.
Chenoa offers help with down payment and closing costs.
Fannie Mae conventional loan which makes buying a home more affordable for first time home buyers.
Government loan program which assists buyers to purchase a home with less-than-perfect credit.
Program for first home buyers looking to buy a house in small town or rural area.
Government loan program which assists members of military to purchase a home.
The median value of a home in Tennessee is about $171,000 and current appreciation rate is about 7% per year. The average rent is about $1,100 per month and you can buy a $171,000 home using HomeReady 3% Down Payment Program and your payment would be approximately $1,130* per month which is about the same as the average rent. Try our rent versus own calculator and you may find out buying a home is better than renting when you factor in home appreciation and paydown of principal on every loan payment.
Calculate loan payments, determine if it better to rent or buy, find out your price range, and figure out your debt ratios to see what programs you may qualify for.
10 Steps To Buying Your First Home
We will guide you through the home buying process, assist you with financing, and connect you to a Realtor to Find the Perfect Home.
Get property listings of homes for sale in Tennessee. View photos and property details. Contact local real estate agent and set up showings.
*171,000 purchase price, $5,130 down payment, $165,870 loan amount, HomeReady 30 year fixed loan paid in equal and consecutive monthly installment payments of $840.44 plus taxes and insurance, 4.50% rate(4.58% APR).