Life’s big adventures often start with a single step, and for many, that step is into their very first home. If you’re dreaming of planting roots in the beautiful Volunteer State, you’re in the right place!

This guide is crafted just for you, a potential first-time home buyer in Tennessee, to help navigate the exciting journey of homeownership. At RP Communities, we believe everyone deserves a place they’re proud to call home, and we’re here to make that dream a reality for you.

Why Tennessee Is a Great Place for First-Time Home Buyers

Tennessee truly offers a better way to live. It’s a state that balances affordability with a vibrant lifestyle, making it an ideal destination for those looking to purchase their first home.

Affordable Living and Housing: Compared to many other states, Tennessee boasts a more affordable cost of living and housing prices. This means your hard-earned money can go further, allowing you to find a quality home that fits your budget. This is why RP Communities offers the highest quality housing at attainable prices.

Growing Job Markets: Cities like Chattanooga and Knoxville are experiencing robust economic growth, with expanding job markets in various sectors, including healthcare, technology, and education. This growth provides excellent opportunities for young professionals and families alike.

Variety of Living Options: Whether you envision yourself in a bustling urban center, a serene suburban neighborhood, or a peaceful rural setting, Tennessee has it all! From the scenic beauty surrounding Chattanooga to the welcoming communities of Knoxville, you’re sure to find a location that perfectly suits your lifestyle.

Quality of Life: Beyond the practicalities, Tennessee offers an incredible quality of life. Imagine exploring stunning outdoor recreation, immersing yourself in rich culture, and becoming part of a community where connections flourish (they don’t call it southern hospitality for nothing!). We’re all about creating thriving communities and homes crafted with intention that inspire exceptional living.

First-Time Home Buyer Programs and Grants in Tennessee

Navigating the financial landscape of homeownership can feel overwhelming, but there’s good news! There are several excellent first-time home buyer programs in Tennessee and grants designed to make buying your home more accessible.

Great Choice Home Loan Program

The Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan Program, a fantastic resource for Tennessee first-time home buyer individuals and families. This program provides eligible borrowers with a fixed-rate mortgage and can be combined with down payment assistance.

• Overview: The Great Choice Home Loan Program helps low-to-moderate income first-time home buyer Tennessee residents achieve homeownership.
• Eligibility Requirements: To qualify, you’ll generally need to meet income limits, have a credit score that meets program guidelines, and the home must be your primary residence. There are also purchase price limits for the home.
• Benefits: A key benefit is the competitive fixed interest rate, providing stability and predictability in your monthly payments. This program is often paired with down payment assistance, which can significantly reduce your upfront costs.

Down Payment Assistance Programs in Tennessee

Beyond the Great Choice Home Loan, several down payment assistance options can help make your dream home a reality.

• Great Choice Plus & Hardest Hit Fund Down Payment Assistance: These programs, often paired with the Great Choice Home Loan, offer a second mortgage that can be forgivable over time, reducing the burden of a large down payment.
• Assistance Through Local Counties or Cities: Some local governments in Tennessee may offer their own first-time home buyer grant or assistance programs. It’s worth exploring options available in specific areas like Chattanooga or Knoxville.

Homeownership for Heroes Program

For those who have served our country or dedicated their lives to essential public service, the Homeownership for Heroes Program is a special initiative designed to make homeownership more attainable.

• Who Qualifies: This program extends benefits to veterans, active-duty military personnel, teachers, law enforcement officers, firefighters, and healthcare workers.
• Available Benefits and Application Process: Qualified individuals may receive a lower interest rate on their mortgage. Like other THDA programs, this often involves working with an approved lender who can guide you through the application process and determine your eligibility.

It’s important to remember that requirements and availability can change, so we always recommend visiting the official THDA website or consulting with an approved lender for the most up-to-date information.

RP Communities in Tennessee

At RP Communities, we’re not just building houses – we’re creating thriving neighborhoods comprised of thoughtfully designed homes that provide the families who live there with safety, comfort, and connection. We currently offer exceptional communities in both Chattanooga and Knoxville, designed with livable functionality and affordability in mind.

The Village at Strawberry Hills: Conveniently located off Hammer Road in East Knoxville, The Village at Strawberry Hills introduces 90 thoughtfully designed townhomes. Just 15 minutes from downtown, residents will enjoy easy access to local restaurants, shopping, and popular attractions. These homes offer 3-4 bedrooms starting at 1,500 sq. ft., providing resort-style, low-maintenance living. Residents also have access to two community amenity centers featuring pools and playgrounds.

The Bexley: Welcome to The Bexley, our exciting 56-home community in downtown Chattanooga. Nestled at the intersection of McCallie Ave and Central Ave, these modern townhomes redefine urban living by offering stylish and affordable housing options right in the heart of the city. Situated next to the historic Fort Wood District, residents will have easy access to charming streets, historic architecture, restaurants, shops, and a vibrant community atmosphere. The Bexley is also close to the University of Tennessee at Chattanooga and Erlanger Hospital. Inside, you’ll find sleek, modern architecture and luxurious interior finishes, creating a captivating sanctuary.

Kensington: Discover a better way to live at Kensington, East Brainerd’s newest carefree living community. Imagine living where luxury meets ease, with every detail designed for your comfort. Enjoy maintenance-free living and lush green spaces. With 95 expertly designed townhomes, Kensington offers an elevated lifestyle tailored for sophistication and simplicity. This walkable community is close to coffee shops, salons, and restaurants. Homes feature professionally designed interiors with 3-4 bedrooms, ranging from 1,550 sq. ft. to over 1,800 sq. ft.

Strawberry Hills: Strawberry Hills is a new neighborhood in Knoxville, situated just off Brakebill Road, amidst peaceful country surroundings. This community features detached single-family homes with 3, 4, and 5 bedrooms, ranging from 1,440 sq. ft. to 2,518 sq. ft. Residents can enjoy two community pools, miles of sidewalks, and a dog park, all with professionally selected interiors.

Our homes are built with quality touches that other builders often treat as upgrades, like granite countertops and Lifeproof flooring. We believe in providing unique communities with a focus on livable functionality and affordability.

Buy Your First Home in Tennessee with RP Homes

Your adventure in homeownership begins with a vision, and at RP Communities, we’re here to help you bring that vision to life.

We understand that buying your first home can feel like a significant undertaking, but our streamlined process and personalized service are designed to make the journey effortless and enjoyable.

We prioritize the homeowner experience at every stage, listening with care and understanding individual needs. We also have preferred lenders to hold your hand through the entire process, ensuring you’re confident in your decision.

Ready to take the next step toward owning your first home in Tennessee? Contact us today to learn more about our communities and how RP Communities can help you achieve your dreams and start your journey toward happy living!