Getting Financially Ready
You do not need to be wealthy to buy a home. You need a clear picture of four things.
Credit
Your credit score influences your rate and which programs you qualify for. You do not need perfect credit. If your score needs work, that is a plan we can make together — small, specific steps often move the needle more than people expect.
Down payment
The old "you must put 20% down" rule is a myth for most buyers. Many loan programs allow far less — some as low as 3% to 3.5%, and certain programs require no down payment at all for those who qualify. More down can mean a lower payment; less down can mean buying sooner. There is no single right answer — only what fits your situation.
Debt-to-income (DTI)
Lenders look at how much of your monthly income goes to debt. Paying down a card or avoiding a new car loan right before buying can meaningfully improve what you qualify for.
Reserves and closing costs
Beyond the down payment, budget for closing costs and a cushion. Knowing these numbers before you shop prevents unwelcome surprises.
First-time vs. experienced buyers
First-time buyers often qualify for special programs and assistance. Experienced buyers frequently have equity from a current home that changes the math entirely — sometimes in ways they have not reconsidered in years. Both deserve a fresh look. You can review the full range of programs on the loan options page.
Getting these four things clear is what turns "someday" into a specific, achievable plan.
Buying outside Tennessee? Illinois, Indiana, and Florida applications route to Robert's trusted lending partner.
This page provides general educational information only. It is not financial, legal, or tax advice, nor a commitment to lend. Programs, guidelines, and requirements are subject to change, and not all borrowers will qualify. Robert Gass, NMLS ID 2844920 · Marketplace Mortgage Inc., Company NMLS 2429405 · Equal Housing Opportunity. Licensed in Tennessee and serving clients statewide; for lending needs in other states, Robert can connect you with a qualified partner.