How to buy a home or property in East Tennessee with little to no money down (really...)

Let’s talk about everyone’s favorite four-letter word: cash. Specifically, how to keep more of it in your wallet when you buy a home in our neck of the woods.

If you’ve been scrolling listings around Tazewell, Harrogate, or Sneedville and thinking, “I’ll never save twenty percent down,” I’ve got good news. In East Tennessee, you don’t have to.

The USDA Loan: The Hidden Gem for Rural Buyers

USDA loans were designed for areas just like ours—small towns, open space, friendly neighbors, and rolling hills. These loans offer up to 100 percent financing, which means zero down payment if you qualify.

Sound too good to be true? It isn’t. To qualify, your household income has to fall under a certain limit, and the home must be in a USDA-approved area. The good news is that most of our region—Tazewell, New Tazewell, Speedwell, Washburn, and even parts of Sharps Chapel—fits the bill.

USDA loans also tend to have great interest rates and low mortgage insurance, which can keep your monthly payment comfortable. They’re a perfect fit for buyers who want a little breathing room left in the budget after closing day.

The THDA Great Choice Program

If your dream home happens to sit just outside a USDA-eligible area, the Tennessee Housing Development Agency (THDA) has your back. Its “Great Choice” loan program offers affordable fixed-rate mortgages plus down-payment assistance—currently up to $6,000 for qualified buyers.

That money can cover your down payment or help with closing costs. It’s structured as a small, interest-free second mortgage that’s forgiven after 30 years (as long as you stay in the home). Translation: free help toward homeownership.

Pairing Programs for Maximum Benefit

Here’s where a good local lender and an experienced agent make magic. We can layer these programs strategically—maybe use seller concessions to pay part of your closing costs, THDA funds for the down payment, and walk away having brought very little to the table.

In rural markets like Sneedville or Washburn, that flexibility often makes the difference between “someday” and “sold.”

A Quick Reality Check

Even with zero-down loans, you’ll still need a bit of cash for things like inspections, earnest money, and moving expenses. But compared to saving tens of thousands for a traditional down payment, these programs make homeownership feel possible—because it is.

Bottom Line

Don’t assume “no money down” is off limits. Between USDA and THDA, East Tennessee buyers have powerful options that big-city markets can only dream about. So if you’re ready to trade rent payments for porch swings, I have trusted advisors who I wholeheartedly recommend that will run your numbers and see what you qualify for.

The coffee’s on me, and your set of house keys might be closer than you think. Let's chat!

Cheers! Lee Ann