Tennessee Home Buying Guide
South Region · Non-Judicial Foreclosure State
Key Facts at a Glance
What Makes Tennessee Unique
No state income tax
Nashville and Memphis are strong growth markets
Great Choice Plus offers 6% DPA on top of below-market rate loan
First-Time Buyer Programs in Tennessee
THDA Great Choice Home Loan
Contact your state housing finance agency for current eligibility and rates
THDA Great Choice Plus DPA
Contact your state housing finance agency for current eligibility and rates
THDA Homeownership for Heroes
Contact your state housing finance agency for current eligibility and rates
Program availability, income limits, and interest rates change frequently. Verify current terms with your lender or state housing finance agency.
Closing Costs in Tennessee
Attorney at Closing
Attorney Required at Closing
Tennessee requires a licensed real estate attorney to oversee the closing process. Budget $500–$1,500 for attorney fees.
Local Tips for Tennessee Buyers
No income tax helps with long-term affordability.
Nashville is one of the hottest markets in the South.
Great Choice Plus DPA is a second mortgage at 0% interest.
Estimated Annual Ownership Cost in Tennessee
Based on the median home price of $335,000 with a 10% down payment and 7% mortgage rate.
Ready to Calculate Your Numbers?
Use our free calculators to estimate your monthly payment, affordability, and closing costs in Tennessee.