This is the first partnership developed with AHR’s Tennessee Down Payment Partnership. First Community Mortgage’s parent bank, FCB, invested $1 million to fund the program which is estimated to help 60 families through the remainder of 2018.
Loan approval and terms are dependent upon borrower’s credit, documented ability to repay, acceptability of collateral property, and FCM underwriting criteria. This program may change or be discontinued at any time and not all applicants will qualify. Funds treated as a due-on-sale loan, which will be repaid when the home resells. Income limits apply.