Resources For First Time Renters & Buyers in Chattanooga
Buying your first home is a big step, and you don't have to take it alone. CNE has helped thousands of Chattanoogans go from “someday” to “moved in.” This page pulls together the tools, guides, and expert help that make the journey clearer, so you can move forward with confidence.
What to Know Before You Start
Most first-time buyers don't realize how much lives under one roof at CNE. You don't have to piece together a lender here, a class there, and assistance somewhere else. We bring it together:
- Homebuyer education that walks you through the whole process at your own pace.
- Down payment assistance to help cover the up-front costs that stop many buyers in their tracks.
- Access to a variety of loan products. As a broker, we shop options to find the fit that's right for you, not a one-size-fits-all loan.
Know Your Credit Score
The single most helpful thing you can do before reaching out is to check your credit score. There's no magic number, but a score of 640 or above generally puts you in the best position for the widest range of loan options.
If your score is below 640, don't worry, and definitely don't give up. That's exactly what our free financial coaching is for. Our HUD-certified coaches will help you understand your credit, build a plan to strengthen it, and get you ready to buy. Many of our most successful homeowners started right here.
Estimate what you can afford
A good first move is getting a rough sense of your budget. We recommend the free Mortgage Affordability Calculator from Fannie Mae. Plug in your income, monthly debts, and a down payment amount, and it will estimate the home price range that fits your budget.
Keep in mind this is an estimate, not a loan approval. When you're ready for real numbers, that's a conversation with our team.
Understand the homebuying process
Want to know what the whole journey looks like before you begin? Freddie Mac's
My Home guide to buying a home is a clear, trustworthy walk-through, covering everything from terms you need to know, understanding what you can afford, all the way through closing day.
Source: My Home by Freddie Mac. CNE shares this as a helpful third-party resource.
Ready to take the next step?
When you're ready, we're ready. Reach out and a member of the CNE lending team will help you figure out your best path forward, with no pressure and no jargon.
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