(615) 636-3796
2026 First-Time Homebuyer Guide for Lebanon, Tennessee

2026 First-Time Homebuyer Guide for Lebanon, Tennessee

If you’re thinking about buying your first home in Lebanon, Tennessee in 2026, you’re entering a more balanced market. Prices have steadied, competition has cooled, and first-time buyers now have more room to negotiate. With the right plan, you can take advantage of the programs and opportunities available this year.

1. Start With Budget & Pre-Approval

Before touring homes, take time to understand your numbers.

Build a Realistic Budget

Your monthly payment includes:

  • Principal and interest

  • Wilson County property taxes

  • Homeowners insurance

  • HOA fees (if any)

  • Mortgage insurance

Knowing the full payment protects you from surprises later.

Get Pre-Approved

A true pre-approval shows sellers you’re ready and qualified. It gives you:

  • A clear price range

  • A stronger offer

  • Faster closing times

Pre-approval is the first real step in today’s Lebanon market.

2. You Don’t Need 20% Down

Many first-time buyers think they need a large down payment. You don’t.

FHA Loan

  • 3.5% down

  • Flexible credit requirements

Conventional 3% Down

  • Lower mortgage insurance with good credit

VA Loan

  • 0% down

  • No mortgage insurance

USDA Loan

Some Wilson County areas qualify for 0% down.

These programs help buyers start with less cash than expected.

3. THDA: Tennessee’s Best Assistance Programs

THDA (Tennessee Housing Development Agency) offers strong support for first-time buyers.

Great Choice Loan

A stable 30-year fixed-rate loan.

Great Choice Plus (Down Payment Assistance)

Deferred Option:

  • $6,000 for down payment or closing costs

  • 0% interest

Amortizing Option:

  • Up to 5% of the purchase price

  • Paid back over 30 years

Homeownership for the Brave

Reduced-rate option for eligible military borrowers.

THDA has income, purchase price, and credit score requirements, but it’s one of the best tools for first-time buyers in Tennessee.

4. Lower Your Upfront Costs in 2026

You may not have to pay all closing costs yourself.

Seller Concessions

You can ask the seller to help pay:

  • Closing costs

  • Prepaids

  • Rate buydowns

Rate Buydowns

The seller can help temporarily lower your interest rate, reducing your monthly payment early on.

Grants

Some loan types offer grants to reduce upfront costs further.

5. Start Early — Even If You’re Months Away

Planning ahead gives you time to:

  • Improve credit

  • Build savings

  • Pay down small debts

  • Understand loan options

  • Set a realistic timeline

A simple plan can make the entire process smoother.

6. Work With a Local Lender Who Knows Lebanon

Lebanon and Mt. Juliet have unique pricing, USDA-eligible areas, and THDA limits. A local lender who knows these programs can save you money and guide you confidently from pre-approval to closing.

A good lender will:

  • Compare loan options

  • Show assistance programs

  • Break down monthly payments

  • Build a step-by-step buying plan

Don’t navigate it alone—especially as a first-time buyer.

Final Thoughts

Buying your first home in Lebanon, Tennessee in 2026 is more achievable than many think. With the right guidance, loan programs, and early planning, you can take advantage of a calmer market and strong statewide assistance.

If you want help understanding your options, running numbers, or putting a plan together, I’m here to guide you through the process.