First Time Home Buyers in Middle Tennessee
Buying your first home is a big step. It gets a lot easier when you know what comes next. Here's how buying a new construction home works with Patterson Company, a local Middle Tennessee builder since 2009.
The short answer
Most first time buyers in Middle Tennessee start by getting prequalified with a lender, then compare communities and home types, choose a home that's ready now or one still being built, sign a purchase agreement, make selections, and close after a final walkthrough. Depending on the loan program, eligible first time buyers may be able to put as little as 3% to 3.5% down, and Tennessee offers down payment assistance through THDA for buyers who qualify. Patterson Company builds townhomes and single family homes in Mt. Juliet, Murfreesboro, Spring Hill, Madison and Cane Ridge.
Why a new home can make sense for your first purchase
An older home can come with a list of repairs on day one. A new home starts fresh, and you get a builder who's still here after closing.
Everything is new
New roof, new systems, new appliances. That means fewer surprise repair bills in your first years of ownership, when your budget is still settling in.
A home that fits how you live
Open layouts, flex rooms that work as an office, real storage and attached garages in many plans. On homes still being built, you make selections at our design center.
A builder that stands behind it
Every Patterson home comes with our new home warranty process, and our homeowner support team is local. You'll know who to call.
How buying your first new home works
Six steps from your first conversation to the day you get your keys.
Talk through your budget and goals
Start with what monthly payment feels comfortable, how much you have saved, and what you need in a home. Our team can connect you with a lender to talk through it.
Get prequalified, then preapproved
Prequalification gives you a quick estimate. Preapproval is a deeper review that shows what you can borrow and makes you a stronger buyer. Our Home Financing 101 guide explains what lenders look at.
Compare your loan options
Conventional, FHA, VA and Tennessee down payment assistance programs each have different down payment and credit requirements. A lender can show you which ones you qualify for.
Choose your community and home
Compare locations, home types and timing. A home that's ready now can close sooner. A home still being built gives you more time and more choices. Visit a model home to see how the space really lives.
Sign your agreement and make selections
Once you've picked your home, our team walks you through the purchase agreement. On homes still under construction, you'll personalize your finishes at the design center.
Walkthrough, closing and keys
Before closing, you'll walk the finished home with our team, learn how everything works and get an overview of your warranty. See the four key meetings along the way.
Loan options and down payment help for first time buyers
You may not need 20% down. These are the most common paths first time buyers ask about. Requirements change, so confirm current terms with your lender.
Low down payment conventional loans
Some conventional programs for first time buyers allow as little as 3% down for those who qualify. Putting down less than 20% usually means paying private mortgage insurance.
FHA loans
FHA loans allow as little as 3.5% down for qualified buyers and often have more flexible credit requirements. They include mortgage insurance premiums.
VA loans
Eligible veterans, service members on active duty and some surviving spouses may be able to buy with no down payment through a VA loan.
THDA Great Choice and down payment assistance
The Tennessee Housing Development Agency (THDA) offers the Great Choice Home Loan program, and Great Choice Plus can help eligible buyers with down payment and closing costs. Income and purchase price limits vary by county, and a homebuyer education class is required for assistance. Learn more at thda.org.
Information is general and current as of October 2026. It is not a loan offer or commitment to lend. All loans are subject to credit approval, program guidelines and lender requirements.
Costs to plan for beyond the price
The purchase price is only part of the picture. Ask your lender for an estimate that includes all of these, so there are no surprises at closing.
Some Patterson communities offer buyer incentives that can help with closing costs or rate buydowns. See current offers for what's available now.
- Down payment, based on your loan program
- Earnest money deposit when you sign your purchase agreement
- Closing costs such as lender fees, title and prepaid items
- Property taxes and homeowners insurance, usually included in your monthly payment
- HOA dues, if the community has an HOA. Ask what they cover.
- Mortgage insurance, if you put down less than 20%
- Moving and setup costs like window coverings and utility hookups
Townhome or single family home?
Many first time buyers weigh both. Compare upkeep, space, garages and cost side by side.
Patterson communities across Middle Tennessee
Townhomes and single family homes in five Middle Tennessee locations. Pricing, availability and offers change, so check each community for what's available now.
First time homeownership at Tillman Place in Mt. Juliet
Townhomes with 3 or 4 bedrooms and a garage for two cars. We put together a Mt. Juliet guide with the steps, current incentive details and an onsite team to help first time buyers at Tillman Place.
See the Tillman Place First Time Buyer Guide →Gardens of Three Rivers
Low maintenance townhomes with first floor living options in Murfreesboro.
Explore Gardens of Three Rivers →Arbor Valley
Low maintenance luxury townhomes with first floor primary options in Spring Hill.
Explore Arbor Valley →Riverview at Cumberland Hills
New single family homes in Madison, just north of downtown Nashville.
Explore Riverview →Briley Hill
Single family homes and townhomes coming to Cane Ridge. Join the interest list to hear about pricing and releases first.
Join the Briley Hill Interest List →Have questions about buying your first home?
Tell us a little about what you're looking for and our team will help you figure out where to start, from financing to finding the right community. No pressure, just answers.
Prefer to talk now? Call 615.472.1317 or email info@buypatterson.com.
Working with a real estate agent? You're welcome to bring them. Agents can learn more on our agent page.
First time home buyer questions
Who counts as a first time home buyer?
Many loan and assistance programs consider you a first time buyer if you haven't owned a primary home in the past three years, but definitions vary by program. Your lender can tell you which programs you qualify for.
How much do I need for a down payment?
It depends on the loan. Some conventional programs allow as little as 3% down for eligible first time buyers, FHA allows 3.5%, and eligible VA borrowers may need no down payment. You'll also want to plan for closing costs and an earnest money deposit.
Can I use down payment assistance on a new construction home?
In many cases, yes. Programs like THDA's Great Choice Plus have income, price and lender requirements, so talk with a participating lender early to confirm your eligibility.
Should I get preapproved before I tour homes?
It helps. Preapproval shows what you can comfortably afford and makes it easier to move quickly on the right home. You're still welcome to visit a model first to get a feel for what you want.
How long does it take to move into a new home?
A home that's ready now can close on a typical mortgage timeline. A home still under construction depends on its stage of construction. Our team can give you an estimated timeline for any home you're considering.
Do builder incentives help first time buyers?
They can. When available, incentives may go toward closing costs, a rate buydown or a price reduction, and some require using a preferred lender. Offers vary by community and change over time. See current offers.
Patterson Company, LLC is an Equal Housing Opportunity builder. Prices, availability, incentives and specifications are subject to change without notice. Information on this page is general in nature and is not financial or legal advice. All financing is subject to credit approval and lender requirements.
