You can buy a home in the Spring Hill Tennessee area with no money down
The Tennessee Development Loan Program is designed to help home buyers outside of population centers to buy a home without having to overcome the obstacle that prevent many from the dream of home ownership, down payment.
While the homes within the city limits of Spring Hill, do not qualify for the Rural Development Program, you can see from the map, one does not need to go far outside of Spring Hill to find an area that is eligible for the Rural Development loan program and the zero down payment requirements. The areas that are shaded in the map below are ineligible and the white area is all eligible.
There are numerous areas that are close enough to Spring Hill to allow you be a part of community, yet also allows you to take advantage of the No Down Payment home loan offered by the Tennessee Rural Development program. In fact you can see with the exception on one area, everthing to the East of Interstate 65 is eligible.
Besides the geographical restrictions, the RD program also has income restrictions based on the size of the family that will be living in the home. For households of 1-4 persons the limit is $74,750 Per Year and for households of 5-8 persons the annual income limit is $98,650 Per Year
There are adjustments that can be made to your actual income to reduce annual income calculation for things like child care expenses, the number of children in school, family members that are disabled. These adjustments can lower your income calculation and help you qualify for the program even if you make slightly more than the program limits.
Give us a call today at (865) 686-8711 and let us answer your questions and help you get Pre-Approved for the purchase of your new home.
Click Here to review all Eligible areas around Nashville