How to Finance Your New Home
For many buyers, the biggest challenge to purchasing a home isn’t the monthly payment—it’s coming up with the money needed for a down payment and closing costs. That’s why River Stone Construction is committed to helping buyers take advantage of every available incentive to make homeownership more attainable.
Limited-Time Down Payment Assistance Available
For a limited time, the City of Chattanooga and the Tennessee Housing Development Agency (THDA) are offering down payment assistance programs designed to help first-time homebuyers overcome the upfront costs of purchasing a home.
To qualify, buyers must:
- Be a first-time homebuyer or have not owned a home within the last three years
- Meet income eligibility requirements
- Contribute at least $1,000 of their own funds
- Complete a home inspection
- Have a credit score of 640 or higher
- Purchase a home priced at $400,000 or less
Combined with today’s financing options, this assistance can significantly reduce the amount of cash needed at closing.
River Stone Construction’s Preferred Lender Incentive
In addition to available down payment assistance, River Stone Construction offers an incentive through our preferred lender program where you can save up to 2%.
We’ve worked with these lenders for many years. We trust them to help you get the best mortgage on your completed new home. They can work with conventional, FHA, VA or sometimes even USDA or THDA loans. Both are located right here in Chattanooga.
Derek Berry, FirstBank Mortgage, 863-581-6603
Jessica Upshaw, Highlands Residential Mortgage, 423-417-2471
These are our preferred lenders, but we’ll work with whoever you choose to make the closing process as smooth as possible. If you have any questions, call River Stone Construction today at 423-954-7550. We aim to be your preferred home builder in Chattanooga TN!
