The FirstBank Forward initiative is our opportunity to shape our future across our footprint through efforts and partnerships that align with our company’s values and expertise and make our communities better, one change at a time. Through FirstBank Forward, we strive to build vibrant communities with our programs, products and services designed to foster affordable housing, drive economic development, and promote education in the neighborhoods in which we serve.
We Tap Into A Variety Of Programs To Help You Buy Your Home
FirstBank Borrower Benefit
Will provide $1 million in down payment assistance to qualified borrowers over the next two years. Funds are available for 5% of the loan amount, up to a maximum of $5,000, for the use of down payment and/or closing costs.
Low To No Down Payments
If you’re saving up to buy your first home, you may be relieved to know that for most buyers, low to no down payment options are available. The truth is, being short on funds for a down payment may not be as big a problem as you think.
State Home Buyer Assistance Programs
If you can afford a mortgage and meet credit requirements but need help with the down payment and/or closing costs, we can assist you. These programs vary by state and can include down payment funds secured by a second mortgage or no interest loan or even a grant.
100% AFFORDABLE HOUSING LOAN PROGRAM
The 100% Affordable Housing Loan Program promotes home ownership in the culturally diverse communities that FirstBank serves. The program offers a fixed-rate 30-year loan with 100% loan-to-value and requires a 630 minimum credit score and pre-purchase homeownership education.
Mortgage Tax Credits
The Mortgage Tax Credit Certificate (MCC) program reduces the amount of federal income tax homebuyers must pay, which in turn increases available income to quality for a mortgage. An MCC is a dollar-for-dollar tax credit of up to 50 percent of the mortgage interest paid per year, capped at $2,000 annually.
Education for Homebuyers
We often host first time homebuyers events and other educational opportunities to help you achieve and sustain affordable homeownership.
OUR PARTNERSHIPS THAT HELP MAKE HOME OWNERSHIP A REALITY
We proudly partner with NAMMBA, an organization dedicated to the inclusion of minorities and women in the mortgage industry who are advocates for sustainable homeownership in local communities. Their mission is to increase the engagement of women and minorities in the mortgage industry by actively being involved with the local, state and national Mortgage Banker Associations.
Through a partnership with Operation HOPE, FirstBank established HOPE Inside at two FirstBank financial centers in Nashville and Memphis. HOPE Inside provides coaching on credit and money management, homeownership preparedness, and small-business development programs, all offered at no cost. FirstBank’s HOPE Inside programs help people establish a financial foundation for home ownership and establish good credit scores. To learn more or to schedule an appointment, contact:
HOPE Inside FirstBank-Nashville
1 Vantage Way
Nashville, TN 37228
Tiffany L. Roan, MPA
HOPE Financial Wellbeing Coach
HOPE Inside FirstBank-Memphis
6482 Poplar Ave.
Memphis, TN 38119
HOPE Financial Wellbeing Coach