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FirstBank is a TN State chartered Depository Bank regulated by the TDFI and the FDIC. A Reverse Mortgage is an FHA-insured loan. Homeowners must be 62 years of age of older and live in the home as their primary residence. Homes must meet FHA/HUD minimum property standards. Borrowers must maintain hazard and flood insurance premiums, property taxes, utilities and make any property repairs. Although there are no monthly principal and interest mortgage payments, interest accrues on the portion of the loan amount disbursed. Reverse mortgages can use up all or some of the equity in your home and the amount you owe on a reverse mortgage will increase over time. Loan must meet underwriting requirements. Program rates, fees, terms and conditions are not available in all states and subject to change. FirstBank Mortgage is a division of FirstBank. All products and services offered through FirstBank NMLS# 472433. This document is advertising by FirstBank and is not from FHA/HUD. This document is not approved by any government agency. A reverse mortgage is a loan. ©FB FirstBank-3500 Blue Lake Dr., Ste 325, Birmingham, AL 35243Welcome to the DirectBuy link for your information on Home Equity Conversion Mortgages - otherwise known as a reverse mortgage. We can help you learn about this government-insured loan that can help homeowners over the age of 62 turn some of their home equity into useable cash. You made years of mortgage payments...now you can get a mortgage that may take care of you! DirectBuy has teamed up with FirstBank to provide this special type of HUD-insured mortgage/line of credit to their members. We are here to assist you, the member, in the educational and information process so you can become better informed. A Home Equity Conversion Mortgage (HECM) is used to allow you to take the equity out of your home, and convert that into useable cash for any reason. There are no monthly mortgage payments to make. This is a loan and it is ultimately paid back when the house is sold, later on down the line. YOU still own YOUR home, always! A HECM is commonly called a reverse mortgage by the public and there are many falsehoods out there. Researching a reverse mortgage is an educational project and it can also be confusing. That is why we have tried to explain everything in plain language so it is easy to understand. We will put you in touch with one of our qualified, competent and experienced HECM Mortgage Specialists when you ask for more information and choose to be contacted further.
We are here to educate and to give you the information you need to learn about reverse mortgages – it is that simple.
Education is a key component of deciding if this mortgage is a good fit for you – or not. We go to great lengths to educate our clients in order to help them make an informed decision; and there is no obligation on your part.
Please fill out the form below to have a representative contact you. You must be at least 62 years of age and own your own home in order to participate in this program.