Want a Home But Don’t Have The Money?

September 4, 2021

Want a Home But Don’t Have The Money?
Think again.
Depending on which loans you’re eligible for, you no longer have to provide a whopping 20% down payment. Not to mention your closing costs, inspections, appraisal and any other additional expenses. Most people believe that homebuying is out of reach, but the reality is that there are government backed loans to help save you thousands of dollars.
Here is a simple breakdown:
$300,000  Purchase Price
$60,000    20% conventional loan
$10,500     3.5% FHA loan
$0                 USDA Loan
$0                 VA Loan (veterans)

Believe it or not, many homes in Knoxville are located in an eligible rural area as defined by the USDA.

If this is an option you would like to explore, I suggest speaking with your local lender. If Knoxville is on your radar, I am happy to point you in the right direction and guide you in finding the ideal property whether this is your first home or forever home.
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