State Buyer Guide
Down payment assistance, Tennessee housing programs, closing cost estimates, and what to know before buying — including from FSBO sellers.
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The Tennessee Housing Development Agency (THDA) is your primary source for below-market mortgage rates and down payment assistance in Tennessee. Programs are available through approved lenders — not directly through the HFA.
30-year fixed-rate mortgage with DPA for first-time buyers.
Deferred 0% second mortgage alongside the Great Choice first loan.
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Compare Mortgage Rates →On a $335,000 home: approximately $7,705
Tennessee charges a recordation tax of $0.37 per $100 of consideration (0.37%), paid by the buyer on the deed.
Tennessee is an attorney-closing state. A licensed Tennessee real estate attorney must conduct the closing. Budget $600–$1,000 for attorney fees.
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Find an Inspector →As an attorney-closing state, Tennessee requires a licensed real estate attorney to conduct your closing. You'll also want one to review your purchase agreement.
Nolo has been the go-to legal resource for DIY buyers since 1971. Their real estate guides explain purchase agreements, contingencies, and closing in language anyone can understand.
Browse Legal Guides →Get a real estate attorney to review your purchase agreement or help you draft an offer letter — often for a fraction of traditional legal fees.
Get Legal Help →Download state-specific purchase agreements, addenda, and disclosure forms — written by attorneys, ready to use in your state.
Browse Real Estate Forms →Tennessee first-time buyers can access programs through the Tennessee Housing Development Agency (THDA) (https://thda.org/), including the THDA Great Choice Home Loan (Up to 6% of purchase price via Great Choice Plus at 0%) and the THDA Great Choice Plus (Up to $6,000 — forgiven after 30 years). Federal programs like FHA loans (3.5% down) and USDA loans (0% down in eligible areas) are also available.
Closing costs in Tennessee typically run 2.3% of the purchase price. Transfer tax: 0.37% ($3.70 per $1,000). Tennessee charges a recordation tax of $0.37 per $100 of consideration (0.37%), paid by the buyer on the deed.
Tennessee is an attorney-closing state. A licensed Tennessee real estate attorney must conduct the closing. Budget $600–$1,000 for attorney fees.
The median home price in Tennessee is approximately $335,000. Property taxes average 0.64% of assessed value annually.
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