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by Sherry Carney

October 23, 2018


Are you a homebuyer that’s getting priced out of your market? If you’re like many buyers in Middle Tennessee, you’re having trouble finding a home that’s in your price range. When you do find one, it’s a game of ‘multiple offers’…Forcing you to pay more than the offering price if you want it! You are not alone. The homes here have increased an average of almost 12.5% just in the past year!*

The housing shortage can be blamed for some of this increase, driving the prices up through supply and demand. However, the newest numbers from September 2018 are showing home prices leveling out, due to sales dropping about 3% statewide, which is a welcomed relief for buyers, hoping this will soften the prices somewhat.


Don’t give up and don’t be discouraged! There are some things you can do to even the odds. With all the mortgage products offered today, including some with down payment assistance, you may increase your chances of buying a home sooner than later. Here’s what you should know, before you go home shopping;


  • Payoff as much debt as you can before you buy, this allows you to fit into the debt ratio guidelines, even with a higher payment.
  • Be open to participating in homebuyer education classes, this will help you qualify for any grants available, not to mention the good budgeting advice you’ll learn.
  • Get yourself preapproved, be ready to make your offer the day you find the perfect home. There’s something to be said for “the early bird gets the worm”!
  • SAVE, SAVE, SAVE! The more you have to put down, the more home you can afford.
  • Keep your credit in perfect condition. The better your credit score, the better your interest rate, thus keeping your payment more affordable.
  • Don’t look for homes that are over your price range or budget. Sellers are not likely to come down much, especially in this market.

At Guaranty Trust our experts are always here to help. Assisting you in finding your most comfortable price range and loan product to meet your needs. Call us today; prequalification and discussion about your home buying capabilities are always free!  


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