Do you qualify for a No Money Down Home Loan in Tennessee?

May 20, 2009 · Print This Article

Contrary to popular belief, No Money Down Home Loans in Tennessee are still available in Tennessee. A year or so ago Down Payment Assistance programs were shut down. It allowed for someone to receive a gift that would be used for a down payment on a new home. This “gift” didn’t have to be repaid by the buyer. As you can imagine, when these programs were discontinued, it left a huge void for honest, hard working, and credit worthy individuals to seek assistance in buying a home. In this article I would like to talk about two No Money Down Home Loan programs in TN.

Rural Development Loans In Tennessee

A Rural Development Loans in Tennessee will allow for a mortgage of up to 102% of the asking price of a new home. This is the true no money down home loan for Tennessee homebuyers. This loan doesn’t require Private Mortgage Insurance (PMI). It does however have an upfront mortgage insurance premium that will be applied to the loan (your loan amount will increase by 2% to cover the cost of the insurance). You will have to qualify based on income for this program. Lastly, these programs are primarily used for homes that are for sale not in the city limits. Mostly rural areas. Give me a call to find out if the area you are looking to move into qualifies for this program. To learn more about USDA Home Loans, go here: USDA Rural Development Home Loans In Tennessee

Veteran (VA) Loan

Eligible Veterans are also eligible for a 100% loan. Being a Veteran myself, I will help you make your new home a reality with a VA Loan! To learn more about VA Home Loans, go here: Veteran Home Loans In TN.

This article only touches the surface on how to get No Money Down Home Loans in Tennessee. Since everyone’s situation is unique, it would probably best to contact me for more details about these programs. Also, go to my website to pre-qualify for your new home. This will give you a good starting point in your search. My number is 615-543-6749.

You could be possibly moving into that new home in as little as 30 days!

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Written by Terrence Askew

Comments

5 Responses to “Do you qualify for a No Money Down Home Loan in Tennessee?”

Kelly Brown on June 12th, 2009 10:31 pm

Great post! I’ll subscribe right now wth my feedreader software!
VANESSEA MULLINS on March 25th, 2010 11:56 pm

My husband and I were just married this past oct. We;re interested in ourchasing a home. Our credit isn;t the best, We figure we wouldn;t even qualify for a loan. We’re first time home buyers. We were wondering about non qualifying loans or rent to own. We really don’t even have a down payment, Just wanted to ask you for any advise you would have to give us.
Thanks for your time.
Colette Catillo on December 16th, 2011 5:07 pm

I absolutely love your blog! I found this post to be very enlightening.
Terrence Askew on December 16th, 2011 5:22 pm

Hello Colette! I am glad you like our blog. Please call me if you are looking for help with a new mortgage.
Rene on January 11th, 2012 6:49 pm

I like this blog so much, saved to fav.