Whether you’re buying your first home in the booming Nashville suburbs, relocating to Knoxville or Chattanooga, purchasing near Fort Campbell — home of the 101st Airborne — investing in a Smoky Mountain cabin, or settling into one of Tennessee’s many growing communities, understanding your home loan options is the first step toward making a smart financial decision. The Bookspan Baker Team at Guild Mortgage is licensed to serve Tennessee buyers statewide.
Tennessee’s mortgage landscape has important county-level variation. Most counties follow the $832,750 national conforming baseline, but Davidson County (Nashville) and Williamson County (Franklin/Brentwood) qualify for the elevated $1,029,250 conforming and FHA limit — a reflection of the Nashville MSA’s extraordinary appreciation. The Tennessee Housing Development Agency (THDA) administers the Great Choice Home Loan and Great Choice Plus DPA programs statewide, with special Homeownership for Heroes benefits for military, veterans, and first responders. And Tennessee’s complete absence of state income tax — including full exemption for military retirement income — makes it one of the most financially favorable states in the country for veterans and retirees.
$832,750 in most counties; $1,029,250 in Davidson and Williamson counties.
$541,287 in most counties; $1,029,250 in the Nashville MSA high-cost tier.
Zero down payment for eligible veterans near Fort Campbell, NSA Mid-South, Arnold AFB, and Tennessee’s Guard installations. No state income tax on military retirement.
Financing above conforming limits for Belle Meade, Brentwood, Franklin, and Tennessee’s premier markets.
Lower your rate, shorten your term, or access your home’s equity.
THDA’s Great Choice Plus (up to $15,000 or deferred $6,000), Homeownership for Heroes (0.5% rate discount), and local programs in Nashville, Memphis, and Chattanooga.
Conventional Loans are mortgages not insured by a federal agency. Most Tennessee counties follow the $832,750 national baseline — but Davidson County (Nashville) and Williamson County (Franklin/Brentwood) carry the elevated $1,029,250 high-cost limit, one of the highest conforming limits in the Southeast.
FHA Loans serve first-time buyers across Memphis, Knoxville,
Chattanooga, Clarksville, and Tennessee’s mid-size cities. Most counties follow the $541,287 FHA floor. Davidson and Williamson counties carry the $1,029,250 FHA limit.
Fort Campbell — home of the 101st Airborne Division “Screaming Eagles” and the 160th Special Operations Aviation Regiment — is the dominant military installation, with Clarksville as its primary civilian community. NSA Mid-South in Millington serves as the Navy’s Human Resources Center of Excellence. Arnold AFB near Tullahoma houses the world’s most advanced aerospace testing complex. Tennessee has no state income tax — including military retirement pay.
Nashville’s most prestigious communities — Belle Meade, Forest Hills, Green Hills, and premium West End neighborhoods — regularly produce transactions well above even the $1,029,250 high-cost conforming limit. Williamson County’s estate market, Knoxville’s Sequoyah Hills, and Chattanooga’s Lookout Mountain all regularly require Jumbo financing.
Tennessee homeowners — especially in the Nashville metro and rapidly appreciating Williamson County — have built significant equity. Whether the goal is a lower rate, shorter term, or cash-out for renovations or investment, the Bookspan Baker Team provides a full break-even analysis for every scenario.
THDA’s Great Choice Plus offers two DPA structures: a forgivable $6,000 deferred option or an amortizing loan up to $15,000 (5% of purchase price). Homeownership for Heroes provides a 0.5% interest rate reduction for military, veterans, and first responders. Local programs in Memphis (up to $25,000), Clarksville (up to $25,000), and Nashville (The Housing Fund) provide additional layers.
For Tennessee seniors with long-held equity in Nashville or East Tennessee, self-employed professionals in the entertainment,
healthcare, and tech sectors, and investors targeting the Smoky Mountain cabin market or Nashville’s STR landscape, specialty programs often fit better than standard financing.
The Bookspan Baker Team at Guild Mortgage is licensed to serve Tennessee buyers statewide — from the Nashville MSA’s high-cost markets to Fort Campbell’s Clarksville community, East Tennessee’s Knoxville and Chattanooga metros, and rural counties served by THDA programs. Our team brings over 80 combined years of mortgage lending experience, with education-first guidance at every step.
Most Tennessee counties follow the $832,750 national baseline. Davidson County (Nashville) and Williamson County (Franklin/Brentwood) carry the elevated $1,029,250 high-cost conforming limit — one of the highest in the Southeast.
Most counties follow the $541,287 FHA floor. Davidson and Williamson counties carry the $1,029,250 FHA limit.
Yes. THDA’s Great Choice Plus offers a forgivable $6,000 deferred DPA or an amortizing loan up to $15,000 (5% of purchase price).
Homeownership for Heroes offers a 0.5% rate discount for military and first responders. Local programs exist in Memphis (up to $25,000) and Clarksville (up to $25,000).
Extremely so. Tennessee has no state income tax — including no tax on military retirement income — making it one of the most financially favorable states for veterans. Fort Campbell’s Clarksville community has one of the largest and fastest-growing veteran populations in the country.
THDA programs require 640 minimum. FHA Loans allow 580+ with 3.5% down. Conventional Loans typically require 620+. Jumbo Loans typically require 700+.
