Are You a First Time Home Buyer in Tennessee? You Need This!

(Last Updated On: November 28, 2018)

Are you a first time home buyer in Tennessee? There are resources you might be able to use to make buying a home easier, more affordable and better for your whole family. Check out everything we found!

Get more help buying a house with low income here!

 

You can get help with your down payment if you’re a first time home buyer in Tennessee!

If you’re in a rural area and a first time home buyer in Tennessee, you could qualify for the USDA zero-down loan! This is a loan that might be easier to qualify for than other mortgages and it might make it easier for you to get into a home.

There is a housing voucher program in Tennessee that might make it easier for you to get into a house. If you qualify for housing vouchers, you might be able to use those to help pay for part of a down payment on your house!

first time home buyer in Tennessee

Here are more resources to help you purchase a home in TN!

If you’re in need of safe and affordable housing, you could get it through the Habitat for Humanity! The Habitat might be able to help you get into your own home. You will need to put in sweat equity and meet the requirements the Habitat for Humanity has. You’ll also probably have to be on a waitlist to get help. Not everyone is approved for the Habitat for Humanity help and they may reserve their assistance for people who are in extremely needy situations.

Aside from their zero-down loan, the USDA might also have other options to help people save money on their home purchase. You could qualify for help with a mortgage through the USDA if you meet their requirements, you live in a rural area and other things. The mortgages backed by the USDA are unique in that they might allow you to do more with your home than a traditional loan. For example, if you find a fixer-upper house you love, you could roll some of the funding for repairs into the mortgage!

If you’re a first time home buyer in Tennessee, you might be able to qualify for the FHA mortgage. This is a loan intended for people who are first time home buyers and might make it easier for you to purchase a home. The loan could have lower credit requirements and might allow you to put down a lower down payment than a traditional loan would. Not everyone is approved for an FHA loan. You might also need to visit a traditional lender to get access to an FHA loan.

Get even more help buying a home!

The Housing Assistance Council might be able to help if you’re a first time home buyer in Tennessee! There are a variety of programs the council works with that might make it easier for you to purchase a home. You could also get access to information about buying a home and even credit counseling to help make your homeownership dreams a reality in the future. The housing council works primarily with people who are low-income. They might also have options for people who have moderate income, but need extra help getting the homeownership resources that make it possible to purchase a home. Even though their main focus is helping people who live in rural areas, they might also be able to help people who are in other areas of Tennessee!

The TN Association of Community Action could help you find assistance for homeownership in your area! Even if they are unable to provide direct assistance to help you purchase a home, they might be able to provide you with some assistance to find the right options for your needs. While they do not have an income limit for people who want to find out about resources, they may recommend different income levels for the things they refer people to. Some of the resources they offer might have income requirements.

Tennessee’s Housing Development Agency might be able to help you if you’re a first time home buyer in Tennessee! There are things the agency could provide that might make it easier for you to find help. You could even qualify for help through their housing programs that might make it easier for you to find a mortgage or even money for down payments.

We found programs for veterans & military.

If you qualify for VA benefits, you might be able to take advantage of a loan that’s backed by the VA! Veterans can get help with a home purchase. The VA-backed loan might have less-stringent credit requirements and might make it easier for you to get a home. You will still need to meet some income and credit requirements, but it could be easier to qualify for than a traditional loan.

first time home buyer in Tennessee

Your counties could help if you’re a first time home buyer in Tennessee!

You might be able to get help from your county if you’re a first time home buyer in Tennessee! There are many resources available to people in different counties of Tennessee that might be able to help you!

Carroll County

The West Tennessee Legal Services Housing Counseling Agency might be able to help if you’re in need of housing assistance in Carroll County! As a first time home buyer in Tennessee, you could get help with information about how to purchase a home. You can also learn how to make your credit better and all the aspects of homeownership!

Davidson County

The Nashville Housing Fund could provide help if you’re a first time home buyer in Tennessee. Not only does the fund operate as an FHA lender, they might also help you learn more about homeownership to make your journey more successful. You might also be able to get help with down payment assistance through the housing fund.

The Economic and Community Development department in Nashville might be able to help you save money on your home purchase. You could get a deferred payment loan that could help you pay for a portion of your down payment. It could also pay for closing costs. The loan will not have monthly payments and you’ll only have to pay it when you sell your home!

Dyer County

West Tennessee Legal Services might be able to help with housing counseling if you’re in Dyer County. You will need to meet their income qualifications. They might also be able to help you find assistance for a home purchase even though they don’t provide direct assistance.

Hamilton County

Are you a Chattanooga resident and a first time home buyer in Tennessee? You could get help through Neighborhood Enterprise Inc! There are a variety of resources they offer, but their most valuable ones might be the education and counseling programs. These could help you save money on your home purchase and learn more about becoming a homeowner in Tennessee.

Knox County

The Knoxville Leadership Foundation can offer training and education opportunities for people hoping to purchase a new home in Knox County. The organization also offers access to affordable new homes that could help you find a house that you can live in!

Madison County

The Jackson Affordable Housing Association could help you with down payment assistance. The agency also offers new home construction opportunities you might be able to take advantage of. They could offer you a variety of options that might make it easier for you to purchase a home in the area. They could even direct you to assistance for down payments and closing costs.

Montgomery County

The Clarksville Housing and Community Development organization might be able to help with downpayment and closing cost assistance. The organization has resources you might be able to use if you’re a first time home buyer in Tennessee. You could also get access to a variety of homeownership educational opportunities through Montgomery County.  

Shelby County

If you live in Memphis and you need help with a down payment or closing costs, you might be able to get it through the Division of Housing and Community Development! You will need to meet their guidelines for income as well as credit. You’ll also have to meet other requirements to qualify for help through the housing division.

 

If you’re in Shelby County outside of Memphis, you might be able to get help through the county. Down payment assistance could be available if you’re a first time home buyer. You could also get help with educational opportunities to make home buying easier! 

Washington County

The Johnson City Office of Community Development might offer homeownership assistance to those who qualify. You’ll have to meet income requirements to get help and you’ll also have to meet other requirements to get approved for the program. They could also offer other opportunities that might make a home purchase easier.

Eastern Eight Community Development offers homebuyer education to those who qualify. You’ll need to meet their requirements to get help with these free courses.

Serious about buying a house? Don’t miss these other resources!

Get more free stuff in Tennessee!



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