First Horizon Bank Mortgages

Key Takeaways

• Wide selection of mortgage programs offered. First Horizon Bank Mortgages offers FHA, USDA, VA, jumbo, conforming, and conventional mortgages.
• Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
• Standard interest rates types. First Horizon Bank Mortgages offers adjustable-rate mortgages and fixed-rate mortgages.
• Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, First Horizon Bank Mortgages does offer financing for primary and secondary homes (e.g. vacation properties).
• Fast funding process. In some cases, you may be able to process the loan within one business day.
• No origination fees. First Horizon Bank Mortgages does not charge fees for processing your application.
• Maximum LTV. First Horizon Bank Mortgages has a maximum loan to value ratio of 80%.
• Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for First Horizon Bank Mortgages.
• Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for First Horizon Bank Mortgages.
• Debt-to-income ratio less than 40%. First Horizon Bank Mortgages requires a debt-to-income ratio of less than 40%. Your DTI is calculated by dividing your monthly debts (including your proposed mortgage payment) by your monthly income and multiplying by 100.

First Horizon Bank Mortgages Pros & Cons

First Horizon Bank Mortgage FAQ

What is the maximum loan term you can get with First Horizon Bank Mortgage?

What mortgage rates does First Horizon Bank offer?

What is the estimated funding time?

Do they charge mortgage origination fees?

Does First Horizon Bank Mortgage charge prepayment fees?

What mortgage programs are available?

• FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
• Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency.
• USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
• VA loans: A zero down payment mortgage or a refinance of up to 100% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does First Horizon Bank Mortgage allow?

• Primary home
• Secondary homes and vacation properties

What is the customer service phone number?

What is the support contact email?