Getting buyers in the know.

Myth: You Need 20 Percent Down To Buy

Although it is true that most conventional loans require a 20 percent down payment, there are loans out there that cater to different financial needs.

You can typically qualify for an FHA or VA loan or a down payment assistance program. Conventional mortgage: 0% to 5% Down Payment FHA loan: 3.5% Down Payment VA and USDA: 0% Down Payment. Need A Little Help? There IS Assistance! 0% to 5% Down Payment.

Myth: You Need Amazing Credit

The credit guidelines for an FHA LOANS are much more lenient than for most conventional loans. Your credit score can be as low as 580 to qualify. USDA RURAL LOANS Down to a 620 Credit Score, VA HOME LOANS Down to a 580 Credit Score, CONVENTIONAL LOANS Down to a 620 Credit Score, Down Payment Assistance Need A Little Help? There IS Assistance! 0% to 5% Down Payment.

Myth: Pre-Qualification Is The Same As Pre-Approval.

Confusingly, these two terms don’t mean the same thing. To get pre-qualified, you give your lender basic information about you (assets, income, debts, etc.) so they can determine what kind of loan you can qualify for and estimate how much you’d be eligible to borrow.

But not until the lender is ready to give you a loan by verifying the information you provided are you actually pre-approved. You’ll have to complete a mortgage application after your lender evaluates your financial background and credit rating.

Myth: All Agents Are The Same

Our agents are intimately acquainted with our local markets. Our partners that work with us are all experienced professionals and will make your purchase or sale a smooth one.

Tim Sharp 865-705-2062 Steve Albin 865-235-1520, David Hohman 865-227-1631 Trusted. Respected. Recommended and Award Winning. ★★★★★ / Just Listed Knoxville Real Estate llc.