Chattanooga 100% Financing

How to purchase a home in Chattanooga TN with little to no money down.

Zero Down Financing Program Options

To purchase a home with the least amount out of pocket you will need to specify in the contract that the seller pay all of your closing cost. In doing so you really need to speak with a lender to get an approximate figure so that you do not leave money on the closing table. Often buyers ask for 3% in closing cost from the seller but depending on the program and loan amount your actual closing cost may be considerably less, unfortunately the overage will not be credited to you but just require the seller to pay less. So you could have potentially negotiated a lower price by asking for less in concessions. It is also advised to pay attention to current mortgage and housing trends.

Current 1005 financing programs include:

VA loans: If you are a veteran or active member of any branch of the military or reserves you probably are eligible for a VA loan. The main benefit of a VA loan is no month PMI which can make a huge difference in your monthly payment. Also if you are a disabled or partially disabled veteran, you probably will not have to pay the upfront funding fees.

USDA loans: Yes, this is a loan backed by the U.S. Department of Agriculture. This loan is meant for rural housing and is geographically limited meaning you can only use this type of financing if you purchase a home in certain areas. The main benefit of this loan is a lower monthly PMI payment than a FHA loan. This varies but is currently 0.95% less per year than a FHA loan. Please contact us for a map of which areas are eligible.

THDA loans: These loans are FHDA programs that have down payment assistance via the Tennessee Housing Development Agency. There are currently 3 products available to learn more about these programs see Chattanooga THDA.

Chattanooga REO Properties

Search all available REO homes for sale in Chattanooga Tennessee

Finding a Chattanooga REO Home

REO stands for Real Estate Owned meaning it it a property that is owned by the bank and is already in their portfolio. The advantages of purchasing a REO property are that it is likely discounted because the bank wants to get it off of their books to release capital for more future home mortgages and that the process will be more like a typical purchase. Unlike a short sale that could take months to get an approved contact and close, a REO home can be purchased and closed within 45 days and merely will require a few extra bank foreclosures. However you should enlist the help of a experienced Chattanooga buyers agent as many of these properties have issues that may go unnoticed by an untrained eye.

Chattanooga Homes for Sale by Owner

Search for currently available for sale by owner homes in the Greater Chattanooga Area.

Chattanooga For Sale by Owner Homes: Pros and Cons

– You may be able to find a bargain
– You are working with the owner directly
– You negotiate directly with the owner

– Often times FSBO listings are overpriced because they trying to sell their home with out a Realtor because they do not have the equity in their home to pay commissions. So chances are they have little wiggle room and are not willing to sell their home for a loss.
– You will be working directly with the owner: If the owner is more familiar with real estate contracts or the process you may unknowingly leave money on the table especially if you are unaware of who customarily pays for what cost in Chattanooga.
– A savvy owner may neglect properly disclose every issue of the property that they are aware of in a manner that would leave them liable for any items that they are being less that truthful of. A buyer’s agent would protect your interest in this regard.
– You negotiate directly with the owner: Although you may consider yourself an expert haggler, in most instances you are likely less experienced an skilled as a experienced agent. Most homeowners buy and sell less than 10 homes in their life time, while many agents do this 20-40 times per year. So as a factor of experience an agent is often more skilled.

If you want to search all homes for sale in the area both listed by owner and agent, search the entire Chattanooga MLS here.

Chattanooga Mortgage Rates

Get a local Chattanooga Mortgage Quote. Receive expert advice on which loan programs are available to you and practical tips on how to best improve your credit score.

Shopping Chattanooga Home Loans

Many home buyers do their due diligence in finding the right home or investment for them. However many often overlook the importance of obtaining the most appropriate mortgage program. We believe in having our partner lenders provide the best options available to our clients, explaining the pros and cons of each, letting the clients make the decision of which home loan program suits them best. Often lenders will provide only what they feel is the best rate/terms instead of taking the time to explain other options that might suit their clients needs better. Likewise we require our partner lenders to provide quotes without origination fees or discount points, so that they are easily comparable as too many times lenders attempt to make their offer appear better than it really is by manipulating the numbers. For a free no obligation consultation, contact us for a list of who we feel are the top lenders in the area that we trust.

Chattanooga Riverfront and River View Homes

If you are looking for a home or cabin with a view, then you will definitely want to consider a home on the lovely and scenic Tennessee River in Chattanooga, Tennessee.

Finding a Chattanooga Riverfront Home

When looking for a river view or riverfront home, you really need to define what your plans for the property are, meaning do you need river access or are you considering installing a dock? While some homes in the area will allow for access, other home sites may have too much slope to allow access to the water. However many that do not allow easy access, will combine a majestic view of the Appalachian Mountains with your view of the Tennessee River. Considering this could save you thousands on potential purchase, but for other may always leave you wanting and wishing that you had purchased a property that allows boat access to your home. If a view of the water is out of your budget, but you are still looking for a home with a view to give your life that extra little bit of serenity then you may want to consider Chattanooga mountain view homes instead.

Relocating to Chattanooga TN

Receive a no cost relocation guide for the Greater Chattanooga Area by filling out the form below or contacting us directly.

Chattanooga Relocation Services

We offer corporate relocation services as well as a free Chattanooga relocation guide for those considering a move to the area. Moving to a new area can be a stressful experience without the information you need such as local dining, schools, stores, drive times, and which are of town would best suit your needs. We also offer information about popular suburbs in the area which you can access below or view homes by subdivision by selecting subdivisions on the menu bar. Whether you are considering purchasing a home or looking for houses for rent in Chattanooga you can search every property currently listed in the area on our easy to use website. If you you would like a free relocation guide please fill out the form below or contact us directly to speak with a local agent.

Chattanooga Area Real Estate Market Trends

Get the most accurate and up to date housing market statistics for the Chattanooga Area and surrounding markets including sub-markets and by subdivision or geographic location.

Chattanooga Housing Market Statistics

There are several ways to obtain market statistics such as by obtaining them via national sites such as Zillow or Trulia or by looking up homes on the county’s property appraiser’s website. However both of these methods are wildly inaccurate and out of date. The only way to obtain accurate market statistics is to contact a real estate agent in Chattanooga. A Realtor can not only provide market statistics in real time but can also pull up them most appropriate comparable properties to assess the value of a property including the most recent sales and pending sales. This would include properties with similar construction type, features, by subdivision, or by view to name a few. Be warned some selling agents may attempt to skew the results to favor the owner. However our buyer’s agent pull up all properties subjectively and discuss which properties may or may not be appropriate for assessing value with you, that way you have all the facts and can make the best decision possible regarding a offer. If you would like specific detail statistics or compatibles, please contact us for further assistance.

Cost of Living in Chattanooga TN

The cost of living is approximately 9% lower that the national average and typically ranges between 9-10% lower the national average. Similarly average commute times are approximately 25% less than the national average usually averaging around 20 minutes one way. Also gas prices near the I75 and I24 corridor is one of the most inexpensive places in the state to purchase gasoline.

Chattanooga Cost of Living Comparison

In comparing neighboring metro areas such as Atlanta, Huntsville, Nashville, and Knoxville, Chattanooga offer a great bang for your buck as it is one of the nicer area behind Nashville and also one of the most expensive. In comparison with Nashville, Chattanooga is considerable less expensive in comparing areas within 20 minutes of downtown. In fact homes within this distance are compatible with homes that are an hour commute from downtown. Likewise in comparison with other metros with a similar cost of living and average home values, few compare with natural beauty and cleanliness of Chattanooga. Likewise Chattanooga homes for rent offer a great value in comparison to neighboring metros for those who are not sure that they want to make Chattanooga their permanent home.

Search Homes For Sale on Chickamauga Lake

Whether you are looking for your next place to call home or a vacation home, a home looking over Chickamauga Lake is sure to please. Part of the beautiful Tennessee River system, Chickamauga Lake is great destination for both anglers and recreational boaters alike. Chickamauga is one of two local reservoir lakes within driving distance, the other being Nickajack Lake separated only by a dam.

About Chickamauga Lake Houses

Lake house on Chickamauga Lake are a great investment, being much like an home on the water they are in very limited supply and generally appreciate at a higher rate than not waterfront properties. One of the major concerns that is often overlooked by many lake home buyers is the stability of the lake levels. However this is not really a issue with Chickamauga or Nickajack lake houses as the Tennessee River system has one of the most stable water levels that you will find anywhere in the Southeastern United States having fluctuations of usually not more than a few feet. which greatly reduces concerns for docking and excessive erosion.

If you are looking for a lake home in Chattanooga, you really should consult with a Realtor who is not only knowledgeable with local market conditions, but also one that is a fellow boater and knows the waterways. This will ensure that you get the insight as to lake traffic and areas that are most suitable for your needs.

Living in Chattanooga

If you are looking for a new place to call home and are considering makinging Chattanooga your new home, there truly is not a more laid back and scenic place to live in the Southeastern United States. The people here are very friendly and most area of town have quite inviting southern charm and are not the stuffy type of places you might expect in other downtown areas. This is not to say that the Greater Chattanooga area does not have its affluent area as anything could be further from the truth as some areas of town have some of the wealthiest populations per capita in the state.

The Chattanooga Lifestyle

Chattanooga is a lively town bustling with thriving businesses and a ton of things to do. In fact, I would dare you to find a more beautiful place to live that has as many things to do with in a short distance from downtown. There are numerous historic sites, outdoor activities, and local attractions to keep even the busiest family going and if you like the outdoors there is not a better city to call your home in the South. Chattanooga has beautiful lakes, whitewater rafting, hiking trails galore, and you can forget about attractions such as Ruby Falls and Rock City. If you decide to call Chattanooga, you not only will have a host of things to keep you and your family busy but also have the opportunity to purchase a home with an incredible mountain or lake view, and you can do this for a fraction of the cost it might cost in another metro area. If you decide to select a home with a view, it will truly be your castle and there will not be a better place on earth that will bring you more peace.

On top of all there is to do and the natural beauty that the area offers, the Chattanooga housing market as well as the local economy as a whole is one of the most prospering that you will find of neighboring metro area. The real estate market has a steady an perpetual growth that should continue to years to come and it looks to be a sustainable growth where you can feel certain that even in the worst of years that your home will not loose a high percentage of its value. If you are serious about moving to the area, why not take a few minutes to speak to a Realtor in Chattanooga TN to get a little more information so you can take some time and make an informed decision as to whether Chattanooga is right for you.

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