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FY21, 2nd Quarter Top Participating Lending Company Announced

April 26, 2021

FirstBank Mortgage is our Top Participating Lending Company for the 2nd quarter of FY21! FirstBank is the participating lending institution that closed the most home loans this quarter using our homeownership financing options.

In order to recognize the lenders at FirstBank who closed loans using our mortgage programs during this time period, we asked them what they think is the biggest myth when it comes to buying a home.

  • Teresa Schmitt, Huntsville
    • “I think the biggest myth is that many borrowers believe they must have a 20% down payment. Well, if they are purchasing a $175,000 house, a 20% down payment is $35,000. To some, that is unfathomable and unrealistic, so if we can educate borrowers about loan options for qualifying, it empowers them to make sound decisions and will help them realize that a low to no down payment option is available, and the hopelessness they may have felt initially is trumped by hope that they could possibly qualify to own a home. That just might change the course of lives for generations to come and that’s why we do what we do … changing the direction of the family tree for the good … helping others get to a better place! That’s why I LOVE my job! It's a pleasure working with the folks at AHFA who help make this dream a reality for so many homebuyers."
  • Theresa Campbell, Birmingham
    • “The biggest misconception people have is that there is a need for a hefty investment to buy a home. Yes, you will have to bring something to the table. However, if you work with the right lender and they have great programs like what AHFA provides, you can have an affordable initial investment to get to the home of your dreams."​
  • Thomas Moore, Guntersville
    • “I think there are two big myths that intimidate borrowers. One is that you must have perfect credit and the other is that you need a huge down payment. I think AHFA does a great job helping borrowers overcome those myths. They are always surprised when they don’t need 20% down or more to buy a home. AHFA really helps Alabama families achieve homeownership in an affordable way even if they have had some issues in the past.”
  • Brandon Snider, Cullman
    • “I believe the biggest myth is that you have to have perfect credit. There are several loan programs that allow borrowers with less-than-perfect credit to still get into a home. We do it all the time. If scores are an issue, we’ll also work with our borrowers to educate and assist them in any way that we can to help them improve their scores to help get them qualified to buy.”​