The real math on buying a home in Tennessee — affordability, credit, down payments, and the loan programs buyers actually use — with no “rate as low as” hype and nothing to sign up for.
Popular guides
The pages Tennessee buyers read most before they apply.
FHA loans
The low-down-payment, flexible-credit government-backed loan — how MIP and the 3.5% minimum work.
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Conventional loans
The Fannie/Freddie conforming loan, PMI that can fall off, and who it tends to fit.
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VA loans
The zero-down loan for eligible service members and veterans, and how the COE works.
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What credit score do you need to buy a house?
The minimum scores by program and what the number actually changes about your loan.
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How much down payment do you need?
Minimums by program, the 20% myth, and how down payment changes your monthly cost.
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Closing costs explained
The line-item breakdown of what you pay at closing, and who can help cover it.
Read moreCommon questions
Straight answers to what Tennessee buyers ask first.
Where should I start if I've never bought a home before?
Start with the first-time home buyer guide, then run the affordability calculator to set a realistic price range, and finally get pre-qualified so you know your actual numbers. Pre-qualification starts with a soft credit check, so it won't affect your score to find out where you stand.
What credit score do I need to buy a house?
It depends on the loan program — FHA and THDA programs allow lower scores than conventional loans, while a higher score generally helps your terms. The credit-score guide breaks down the minimums by program and what concrete steps move your number before you apply.
What is THDA and is it only for first-time buyers?
THDA is the Tennessee Housing Development Agency, a public state agency. Its Great Choice mortgage and down-payment-assistance programs help eligible Tennessee buyers, and several are open to repeat buyers in targeted areas — not just first-timers. The THDA guide covers eligibility factually; it's a program, not a guaranteed approval or a rate offer.
How much do I need for a down payment in Tennessee?
Less than most people think. Conventional loans can start around 3% down, FHA around 3.5%, and VA and USDA offer 0% down for those who qualify — and THDA down-payment assistance can help with the cash to close. The affordability calculator lets you model different down payments against real Tennessee prices.
Why is the mortgage rate I see advertised different from my quote?
Advertised rates assume an ideal borrower and scenario. Your rate depends on your credit, loan amount, down payment, loan program, and the market on the day you lock. The Tennessee rates guide explains what moves rates and how to get a personalized quote instead of a teaser number.
Do these guides cost anything or sign me up for anything?
No. The learning center is free to read and collects no personal information. When you're ready, you can get pre-qualified or browse homes — both link out from here — but reading the guides commits you to nothing.
Who writes these guides?
These guides are published by Pacific Bay Lending and authored by Michael Hernandez, a licensed loan originator (NMLS #192103). They reflect how lending actually works in Tennessee — not generic national filler.
About these guides
Written and reviewed by Michael Hernandez, a licensed loan originator (NMLS #192103) with Pacific Bay Lending (Pacific Bay Lending Corp, company NMLS #192103). We're a direct lender — the person who writes these guides is the kind of person who actually closes your loan. Equal Housing Lender.
Ready to take the next step?
No pressure, no rate games — just clear, factual help from a licensed local lender, whenever you're ready.
These guides are educational and general in nature, not financial advice or a commitment to lend. Loan programs, including those offered through the Tennessee Housing Development Agency, are subject to eligibility requirements, program guidelines, credit approval, and underwriting; availability and terms can change. All loans subject to credit approval. Equal Housing Lender.