I work with John Maher Builders, a new home builder in Spring Hill, TN. / Thompson Station TN. that may be able to provide some financial assistance. We work closely with lenders who can answer if you would be a candidate for one of our homes. You can call me or visit my website to view floor plans and included features. Here is a video walk through of one of our many floor plans describing included features. http://www.vanwoody.com/the-kaylee-plan-wades-grove-new-home
If you are not familiar with anyone -- you could start with you bank -- they may be able to give you insight.....Good Luck!
There are mortgage programs with 0 down out there. You need to speak with a mortgage originator to see if you qualify for any of those programs. Just remember with 0 down you still need money to set up the tax and homeowners escrow (if the seller pays the rest of the closing costs) and 1 year up front homeowners' insurance.
There are several options for you still. If either of you are Veterans the VA loan is one of the best out there with no money down and a great rate as well. In some of the rural areas outside the city there are Rural Housing Develpment loans through USDA and in other areas there is the THDA grant program. Some local and regional banks also offer in-house loans for first time buyers that are no money down as well. Some of these are based on income and therefore place a limit on total household income. I have lived and worked in the Greater Nashville area for a long time and I specialize in the South Nashville, Williamson Co, and North Maury Co areas. Please feel free to give me call if you would like to find out more.
Well you will need a downpayment. You might be able to save for one if you put aside some money monthly.Often people just starting out will borrow from family, and that is allowed provided your income can cover mortgage expenses. I would recommend you speak with your personal banker who can guide you through the loan process.
Best of Luck to you!
What you're seeing will not be something that most BANKS know the answer to. Tawny and Robin are right. It may be possible, but you'll have to find a team of people who are willing to find the answers you seek. Start with a good REALTOR in your area that will do research on these programs. Mortgage Brokers will have more programs available for what you're seeking. And as Robin pointed out, if you or your husband has served in the military, a VA loan is a great option.