FirstBank Mortgage Commits to Providing Additional $500,000 Down Payment Assistance Under Borrower Benefits Program

NASHVILLE, Tenn. (TN Tribune) – FirstBank Mortgage has announced that it will provide an additional $500,000 down payment assistance to qualified borrowers under its Borrower Benefits Program. The program, which launched in 2019 with $1 million, is for borrowers buying a single-family primary residence in low-to-moderate income areas within FirstBank’s lending footprint. Funds are available for 5% of the loan amount, up to a maximum of $5,000, for use as a down payment and/or closing costs. Down payment assistance funds will have no interest rate and no associated monthly repayment terms. “We are proud to support our community by providing financial assistance to families looking to buy a home,” said Jeremy Davis, Director of FirstBank Forward. “Homeownership is more than just a place to live and can truly change the trajectory of a family by creating an avenue of generational wealth. Our team is pleased to expand our Borrower Advantage Program financing to help remove as many of the financial barriers to homeownership as possible. Program funds are available to customers in select counties within FirstBank Mortgage’s footprint. The FirstBank Borrower Benefit program is part of the FirstBank Forward community reinvestment initiative which provides support to families in the affordable housing market through loans, education and investments. For more details about the FirstBank Borrower Benefit program, contact your local FirstBank Mortgage Banker. For more information on FirstBank Mortgage Community Initiatives, visit https://fbmortgageloans.com/firstbank-forward/.

About Matthew R. Dailey

Check Also

How to Know if You Qualify for the Relaunched Down Payment Assistance Program – NBC Chicago

A program to help low-income borrowers access homeownership has been relaunched by the Pritzker administration, …