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First-time home buyer programs in Lebanon, TN

Quick answer

First-time buyers in Lebanon, TN can use 3%-down conventional loans (up to the $1,029,250 Wilson County conforming limit), 3.5%-down FHA, or VA and USDA where eligible, plus 2 verified city, county or statewide assistance programs. On the $359,300 median home, 3% down is about $10,779 and the estimated payment is $2,807/month at 7.18%.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $71,320; value-to-income ratio 5.04. Lebanon ranks 14 by home value and 20 by population among 65 places in our TN dataset.

What does a first-time buyer loan cost on a typical Lebanon home?

ItemLebanon
Median home value (Census ACS)$359,300
Tennessee median home value$256,800
Down payment (3%)$10,779
Loan amount$348,521
Estimated monthly payment (PITI + MI)$2,807
Income needed (28% / 36%)$121,000 / $94,000
Wilson County 2026 conforming limit (1 unit)$1,029,250
Max purchase price at the limit$1,061,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Tennessee's 0.55% effective property tax rate (Census ACS), $1,649/yr homeowners insurance (NAIC state average) and an estimated 0.5% PMI.

What is the 2026 conforming loan limit in Lebanon?

Lebanon is in Wilson County. Conventional 3%-down loans go up to the $1,029,250 conforming limit (price ≈ $1,061,000); FHA loans go up to $1,029,250.

The Lebanon median home value of $359,300 is 40% above the Tennessee median, and within what the county limit supports.

Which down payment assistance programs can Lebanon buyers use?

First-time buyer loans in nearby cities

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First-time buyer loan FAQs for Lebanon

On the $359,300 median: 3% conventional ≈ $10,779, 3.5% FHA ≈ $12,576, and 0% for eligible VA or USDA buyers. Conventional loans above $1,029,250 in Wilson County become jumbo loans.

At the $359,300 median value (above the Tennessee median of $256,800), the estimated payment of $2,807/month at 7.18% needs about $121,000 a year under the 28% housing guideline, or $94,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 2 statewide programs are verified for this city (2 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.