First Time Home Buyers Murfreesboro

Many first-time home buyers in Murfreesboro will be happy to learn that it’s possible to avoid all of the mistakes made by even the most seasoned home buyer. A local agent can help you start thinking like a smart homeowner before you decide to buy. With their help, you can learn all there is to know about the minimum qualifications for financing and down payment assistance.

As always, buyers need to have good credit, a low debt-to-income ratio, and as much cash as they can get their hands on. Traditionally, bank financing covers 80% of the home’s purchase value. The remaining 20% and closing costs are left to the buyer. Even a modest $100K home would cost $20K+ cash! This is where first-time buyers with decent to good credit can lower that to as little as 3%. It’s a big help, but, again, using our modest home example, you need $3K minimum.

Fortunately, Murfreesboro offers an Affordable Housing Program to help anyone with challenges achieving their homeownership goal. States understand that homeownership is an investment in long-term wealth and financial independence. This elevates the owner and promotes opportunities for the future generation. Trust in the big picture plan and let a local agent help you learn all there is to know on a free call. From start to finish, they can help you make the best choice.

Pro tips: https://jackabernathy.myagent.site/7-common-homebuyer-regrets-and-how-to-avoid-them/

• First-time homebuyers in Murfreesboro don’t have to learn the hard way with expert help.