You can save $5,000 when buying a home if you qualify! (and you use the right lender.)
Marquis Shipley, with Bank of Tennessee in Mt Juliet, explains the program a bit in the above video. The program works on several different types of loans, including FHA and conventional. That’s a good thing, since different loans work better and are more appropriate for different people.
The money can be used for closing costs and can significantly cut down the amount of money that one would need to bring to closing. On an FHA loan, for instance, closing costs are usually 3-3.5% of the sale price.
I’ve used Marquis for lots of loans and he has done a good job. The thing I like about Marquis is that he always returns my calls and always does what he says he will do. That’s important and not all lenders are as courteous and follow through. Marquis and the Bank of Tennessee are local lenders, which I appreciate.
I’ve had good experiences with internet lenders and I have had bad experiences with internet lenders. The challenge is that even with the same company on the internet, a borrower can get different loan officers… some are good and some are not so good. If they choose to not follow through or choose to go on vacation suddenly with no one to take over for the loan, it’s not a good situation. At least with a local lender like the Bank of Tennessee, there is a physical office that can be visited if a borrower is having issues with a loan or loan officer.
The $5,000 program offered by the Bank of Tennessee can make the difference in someone being able to buy a house or not. If they don’t have enough cash for the down payment, the extra money could possibly make it possible for them.
Veterans can also benefit even more from the program. As Marquis explains in the above video, veterans can receive up to $7,500 for closing costs. On a VA loan, which is 100% with no down payment, closing costs would be the only expense for getting the loan. With a good portion of those costs covered with the program, a veteran can more easily get into their own home.
If you want to reach out to Marquis Shipley with the Bank of Tennessee, his contact information is:
Eddie Poole: Hey everybody. Do you want $5000 towards your home purchase? Well who wouldn’t want that? I’m Eddie Poole with Kelly Williams Realty. I’ve asked my friend Marquis Shipley with Bank of Tennessee to come in and tell us about a new program that Bank of Tennessee has going that can save you $5000. Marquis.
Marquis Shipley: Thanks Eddie. The Welcome Home Program is a great program for anybody looking to buy a home. It’s $5000 for most home buyers, it’s $7500 for veterans looking to buy their next home. There are income qualifications, there are some guidelines that have to be addressed but I’m more than happy to talk to any of your clients about that is and see if they can use these funds to help them buy their next home.
The funds usually run out around May or early June, so it’s very important that they get their application in now but I’m more than happy to talk to any of your clients and see if they qualify for this money for their next home.
Eddie Poole: Hey thanks Marquis for the awesome information. Hey one thing that I love about working in the real estate industry is I get to work with really good people, and Marcus is one of those. Sounds like he’s got a great program there. If you have questions about the program, give him a call. If you have questions about buying a house, give me a call.
I’m Eddie Poole with Keller Williams Realty. I love to lead people home.