In a recent survey by Trulia, 47% of renters stated that not having enough money for a down payment was the factor that kepty them from buying a home.
It was not too long ago that there were many programs available for people to buy a home with no money down. With all of the sub-prime lending going on buyers were able to buy a home with no down payment with scores as low as 580.
Although those days are gone, it is still possible to buy a home with no down payment EVEN if you have had credit difficulties in the past.
While there are restrictions that limit where you buy and how much money you can make, depending on the size of your household, the Rural Development loan is still fairly easy to qualify for.
The underwriting guidelines are not a restrictive as conventional loans and will even allow someone who has some collections in their credit history quilify for the loan.
While you cannot live right in any of the larger cities in Tennessee such as Knoxville, Nashville, or Chattanoooga, there are areas that are near those cities that would qualify for the program.
Give us a call today and let us help get you qualified for your new Tennessee Home Loan with no money down so you can take advantage of the great rates and move in soon to your new home.
Bill McDonald
Acopia Home Loans
866 435 6553
Knoxville, Nashville, Chattanooga, Crossville, Morristown, Cookeville, Crossville, Cleveland, Athens,Clarksville, Murfreesboro, Jackson, Johnson City, Kingsport, Franklin, Hendersonville, Bristol, Maryville, Lebanon,
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