First-Time Homebuyer's Checklist for Nashville and Middle Tennessee
Work the sequence, not the wish list. A payment you can live with, a documented pre-approval, then tours. Inspection, appraisal, Closing Disclosure, keys. Keep a reserve so the first repair is not a crisis.
The calculator will show you the maximum. Franklin taxes, a Brentwood insurance bill, and HOA dues will show you the rest. Start with a payment you can still live with after the first water heater.
This is the sequence I walk first-time buyers through in Nashville and Middle Tennessee. Payment. Pre-approval. Then tours. Skip a step and you spend Saturdays in Nolensville falling in love with a house you cannot write on.
A payment you can live with is not the max
Add up monthly income, then the debts that already hit: cars, student loans, cards. Then price the house as PITI. Principal, interest, taxes, insurance. HOA on top if the community has it. Utilities in Middle Tennessee are not a rounding error.
Decide the down payment after you know the program, not before. Conventional can start at 3%. FHA at 3.5%. VA and USDA can be 0% where you and the property qualify. Twenty percent on conventional usually skips PMI. It is useful. It is not a moral requirement.
Published buyer surveys often show first-time buyers around 6% to 12% down, and all buyers closer to 16%. That is a snapshot, not a rule. Emptying the account to hit a round number is how month two gets ugly.
Pull credit before you apply, then get a real pre-approval
Go to AnnualCreditReport.com and read all three bureaus. Fix errors. Pay down revolving balances if you can. FHA can work from 580. Conventional typically wants 620+. THDA publishes a 640 floor for everyone on the application, and they re-pull before closing. A collection that reports late can kill a 640 file two days out.
A pre-approval is documents, credit, and a letter a listing agent in Franklin will actually accept. Pay stubs covering about 30 days, W-2s, two months of bank statements (all pages), photo ID, housing history. Self-employed files usually need two years of tax returns. If that is you, say so on day one.
A website estimate is not a letter. Neither is a five-minute pre-qual over the phone.
Pick an agent who works the suburbs you actually want
Brentwood, Franklin, Hendersonville, Gallatin, Mt. Juliet, Murfreesboro, and Nolensville are different products. Commute, taxes, school assignment, and price band do not travel together. An agent who lives in that map writes a better contract than one who googled the ZIP.
You can buy without an agent. You still want someone who can protect earnest money, keep inspection and appraisal contingencies on the page, and not miss a deadline. If you already found the house on a sign, that is not an argument for skipping the contract work.
Offer, inspect, then appraise. In that order.
Your agent writes a real offer with price, dates, and contingencies. Expect a counter. That is normal. Earnest money shows you are serious. It is not a tip.
After acceptance, hire a licensed inspector. If they find something material, you ask for a repair, a credit, or you walk. Skipping the inspection to "win" a house is how people buy a foundation problem. The lender then orders the appraisal. That number is what they will lend against. A low appraisal is math, not a personality test. You renegotiate, bring the gap, request a review with better comps, or use the contingency.
Read the Closing Disclosure before you sign
In Tennessee you typically sign at a title company or an attorney's office. You get a Closing Disclosure a few days before consummation on most closed-end mortgages. Read it the day it arrives. Not the morning of. It is the cash-to-close number, the credits, and the fees. If a line looks off, call that day.
Closing costs in Tennessee often land around 2% to 6% of the loan, depending on the file, the price, and seller credits. Plan for that plus the down payment. THDA can help eligible Tennessee buyers with down payment and closing costs if the file fits. Income, price caps, and the 640 floor apply. Confirm the current chart on THDA.org. Do not budget a Facebook number.
Keep cash after you get the keys
Change the address. Set up utilities. Do not finance furniture until after you close. Do not open a new card while the file is live.
Leave a repair reserve. Older houses near Nashville do not wait until your first paycheck as an owner. If you want this run on your numbers, call or text (615) 955-0461 or email keith@keithgo.com. Bring the debts, the savings, and the suburb you actually want. We will name the sequence.
Sources and what to verify
This is general mortgage education, not a commitment to lend. Rates, programs, and eligibility depend on the borrower, the property, and investor guidelines. Confirm tax, school, zoning, and legal facts with the official source.
Want this run on your numbers?
Free plan, no credit impact from the quiz. Or call or text (615) 955-0461.
Get the Homebuying PlanFrequently Asked Questions
Keith Goeringer is a Loan Originator at Barrett Financial Group, NMLS #488023, serving buyers in Franklin, Williamson County, and Middle Tennessee. Call or text (615) 955-0461 or email keith@keithgo.com.
Plan for closing costs, moving, and a repair reserve. Closing costs in Tennessee often land around 2% to 6% of the loan amount, depending on the file. Do not empty the account on down payment day.
You can buy without one. You will still want someone who can write the contract, protect contingencies, and keep earnest money safe. Finding the house is the easy part.
Pay stubs covering about 30 days, W-2s, two months of bank statements with all pages, photo ID, and a housing history. Self-employed files usually need two years of tax returns. Ask before you move money.
A typical file is about four months from starting the search to keys: roughly two months looking, a month on the offer, and a month on financing and closing. A clean file can close faster. Give yourself a cushion, and do not give your landlord notice on day one of the contract.