photo and blog credit – Jackie Mayo

Do you have a budget in place and know what you want to spend for a house payment? 

Many first-time home buyers in Knoxville, Tennessee and the rest of the country start looking before they know what they can really afford when buying their first home. 

Have you heard of Champagne taste, but you really have a Beer budget?  Let us help you figure out what your affordability is before you start looking.  We want you to find that perfect house and that begins with looking at a home which meets your budget.

Mortgage lenders will look at your gross monthly income and then your recurring monthly debts to come up with your affordability.  This is often higher than expected because it is based on gross monthly income.  This gets us back to what is your budget and what do you think you will feel comfortable paying for a mortgage?  You never want to be in a position to have a great house but can’t enjoy the rest of your life because all of your money is going to keep up the mortgage and the other requirements of home ownership. Be a savvy homeowner who is wise about the process.  You won’t regret doing your homework upfront when it comes to buying your first home.

Have you thought about taking a pre-purchase homebuyer education class?  This pre-purchase education workshop can help you know the ins and outs of home buying and will give you the confidence as you go through the home buying experience.  HomeSource east tennessee, a local HUD Housing Counseling Agency and affiliated with Tennessee Valley Realty, https://homesourcetn.neighborworkscompass.org  has a monthly in person six-hour class or an online class through E-Home America that can help get you off on the right foot.  You will get a homebuyer education completion certificate after you complete the course, which may be required with some of the special down payment products for first-time homebuyers.  This is a great resource to help you gain the knowledge and insight about buying a home.

Call us today and let one of our expert first-time homebuyer agents help you begin the process of becoming a homeowner. 

Tennessee Valley Realty’s phone number is 865-963-4770.   You may also email mdevore@tennesseevalleyrealty.org or jmayo@tennesseevalleyrealty.org.  We would love to help you find that perfect house that fits within your budget so that you can be a successful home owner.  Call or email us today!