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First-time buyerTHDAGreat ChoiceNashvilleRyan McCordCompass

First-Time Home Buyer Guide: Nashville

October 23, 2026·Updated October 26, 2026

Buying your first home in Nashville is doable when you know the steps, the programs that actually exist, and which neighborhoods fit your budget. I am Ryan McCord, a Compass agent in Nashville. First-time buyers are a big part of my business (as my live FAQ states). I walk clients from pre-approval through closing.

I will not invent a ranking or a "best first-time agent" award. What I can show you is how the process works here, what the Tennessee Housing Development Agency (THDA) publishes about Great Choice, metro market context from October 22, 2026, and how I work with first-time buyers.

The short answer

If you want a Nashville agent who explains the process in plain English, connects you with a lender I trust (never a hard sell), and sends listings that match your budget, talk to me. Call or text (971) 303-3895.

How a first-time purchase usually runs

  • Get clear on budget. Talk to a lender before you fall in love with a house. I can introduce you to a lender I trust. They run credit, income and debt ratios and tell you what payment range is realistic.

  • Get pre-approved. A written pre-approval letter makes your offer stronger. Cash is rare for first-time buyers; most offers need financing proof.

  • Narrow the map. Nashville is a set of neighborhoods with different price bands, commute patterns and housing types. Start with areas that fit your payment, not a viral list.

  • Tour with a checklist. Condition, HOA rules, flood or slope notes, and what repairs you can live with all matter more than staging.

  • Offer, inspect, close. I help you price the offer from recent comps and negotiate repairs. I stay on the timeline with you through closing.

First-time buyer help: THDA Great Choice

The Tennessee Housing Development Agency (THDA) runs the Great Choice Home Loan for moderate-income buyers. Here is what THDA's own pages say (checked October 23, 2026):

  • It is a 30-year fixed-rate mortgage. Everyone on the loan application needs a credit score of at least 640.

  • Household income and purchase price limits vary by county. Check THDA's current chart before you count on a specific number.

  • THDA says most Great Choice loans are insured by FHA or USDA-RD, which means you may be eligible to borrow up to 96.5% of the price. THDA's Great Choice page states that means a minimum of 3.5% for a down payment. Confirm the exact minimum for your loan type with your lender.

  • Great Choice Plus can help with down payment and closing costs. One option is a deferred, 0% second loan of up to $6,000 or up to $10,000, forgiven after 10 years but due in full if you sell or refinance sooner. Another is an amortizing second loan of up to 5% of the price, capped at $15,000, repaid over 30 years at the same rate as the first mortgage. THDA also describes a newly built / proposed-construction amortizing option of up to $25,000 (15-year term, 0% on that second mortgage). Confirm which option you qualify for with your lender.

  • Generally you cannot have owned and lived in a home as your principal residence in the past three years. THDA waives this in targeted areas. The home must be your principal residence, and homebuyer education is required on Great Choice and Great Choice Plus loans.

Start with THDA's Great Choice page, its down payment assistance page, and its eligibility requirements. When you are ready to run numbers, I can connect you with a lender I trust. They can tell you whether THDA or another loan fits you better.

Metro market context (not a first-time median)

Davidson County single-family homes on October 22, 2026, compared with October 23, 2025 (Nashville Real Estate Data / RealTracs MLS):

  • Active listings: 3,141, up 4.0% from 3,021.

  • Contract volume: 491, down 23.4% from 641.

  • Median sale price: $505,000, down 3.1% from $520,990.

  • Price cuts as a percentage of active listings: 45.2%, up from 41.8%.

For the September 2026 monthly view across nine counties, Greater Nashville REALTORS reported a residential median of $510,000 (report dated October 5, 2026). That is a nine-county monthly figure, not a first-time-buyer median and not every ZIP.

Countywide medians do not set your payment. Before you offer, I will pull recent sales and actives on the streets that match your search.

Neighborhoods that often fit first-time budgets

I publish buyer guides for pockets where under-$300K inventory shows up more often as condos or townhomes:

Looking a little farther out? See my guides to Murfreesboro, Mt. Juliet and Lebanon.

For data-led neighborhood agent pages (MLS context and how I work each area), see:

Luxury and higher price bands are still residential work I do. First-time buyers are not limited to one ZIP. Tell me your payment target and I will map it honestly.

How I work with first-time buyers

  • Residential homes first. You are buying a place to live. I lead with that.

  • Questions are normal. Pre-approval, HOAs, inspection repairs and closing costs are new for most first-time buyers. Ask them.

  • You reach me directly. Call or text (971) 303-3895. Instagram and TikTok: @ryanmccordrealestate.

  • Reviews. 29 five-star Google reviews as of October 22, 2026 (all five stars in google-reviews.json). Ask me for the current Google Business Profile link. More about me: About Ryan McCord.

Ready to start?

Tell me your price range, timing and must-haves. I'll send matching listings and answer your questions about the process, THDA, or the neighborhood.

Ask me about buying your first home

Frequently asked questions

Who is a good real estate agent for first-time buyers in Nashville?

I can't award myself a ranking. First-time buyers are a big part of my business (live FAQ on this site). I walk clients from pre-approval to closing, connect you with a lender I trust, and send listings that fit your budget. I'm Ryan McCord, a Compass agent. Call or text (971) 303-3895.

What first-time buyer programs exist in Tennessee?

THDA's Great Choice Home Loan is a 30-year fixed mortgage with a 640 minimum credit score. Great Choice Plus can help with down payment and closing costs. Income and purchase price limits vary by county. See THDA's Great Choice and down payment assistance pages (checked October 23, 2026). Confirm eligibility with your lender.

Do I need a large down payment?

Not always. THDA says most Great Choice loans are insured by FHA or USDA-RD, which means you may be eligible to borrow up to 96.5% of the price, and that means a minimum of 3.5% for a down payment (THDA Great Choice page, checked October 23, 2026). Confirm the exact minimum for your loan type with your lender. Conventional loans can differ. A lender I trust can show you options for your credit and income.

What is the Nashville market like right now for buyers?

For Davidson County single-family homes on October 22, 2026 vs. a year earlier, Nashville Real Estate Data showed 3,141 active listings (+4.0%), contract volume 491 (-23.4%), median sale price $505,000 (-3.1%), and price cuts as a percentage of active listings 45.2% (from 41.8%). That is metro context, not your street. I will pull local comps before you offer.

Where should a first-time buyer look in Nashville?

It depends on payment, commute and housing type. My under-$300K guides cover Donelson, Hermitage and West Nashville. My best-agent pages cover East Nashville, Crieve Hall, Sylvan Park-Nations, 12 South, Green Hills and Belle Meade / 37205 with MLS context. Tell me your budget and I will narrow it.

How do I get in touch?

Call or text (971) 303-3895, email ryan.mccord@compass.com, or use the contact form on my site. Instagram and TikTok: @ryanmccordrealestate.

Keep exploring

Sources

Ryan McCord, licensed real estate agent with Compass RE. Call or text (971) 303-3895, email ryan.mccord@compass.com, or find me on Instagram and TikTok at @ryanmccordrealestate.

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