[First Bank Webinar] Homebuyer Happy Hour

Event Details:

Date: Thursday, January 16, 2025
Time: 6:30 pm to 7:30 pm
Location: Zoom Webinar (link provided upon registration)

What to Expect:

Our First Bank mortgage experts will share general mortgage information along with how the mortgage application process works. Topics covered include:

General information: basic mortgage terms and definitions, documentation standards and income calculation
Mortgage application process: what to expect, how to prepare
Mortgage applicant qualification: loan to value, debt to income ratio and calculations, credit expectations

Meet our First Bank Experts:

Jarrod Burcham | Mortgage Loan Originator | Greensboro, NC

Jarrod pledges professional service and personal attention while finding the right mortgage that fits your needs. Whether you are looking to purchase your first home, build your next, refinance your current home, buy an investment property or purchase a vacation rental, Jarrod will guide you through the home loan process.

Monica Moses | Community Mortgage Officer | Apex, NC

As Community Mortgage Officer, Monica serves as a liaison for the mortgage loan originators regarding community outreach in underserved markets. One of her focuses is educating potential homeowners by participating in homebuyer workshops in low to moderate income areas. Monica’s role allows First Bank to build connections with minority realtors and builders while enhancing the visibility of our organization.

Register Now:

Our knowledgeable panel will share their experiences and provide actionable insights, helping you make informed decisions about homebuying.

Can’t Attend? We’ve Got You Covered

We understand that not everyone may be able to attend due to scheduling conflicts or potential disruptions. If you’re unable to join the webinar live, whether due to internet access issues or other conflicts, don’t worry! We will be posting the Q&As from the session to view on our website following the event so you won’t miss any valuable expert insights. Keep an eye on our website for updates, and feel free to reach out to one of our loan officers if you have any mortgage questions.

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Mortgage Rates 101: Information You Should Know Acquiring information about mortgage rates is a vital step in the home buying process. Mortgage rates vary based on several factors, such as the amount and type of your loan and your credit score. To get better mortgage rates in your area, it’s best to contact your local lender like First Bank. First Bank’s Mortgage Center provides customers with answers to common questions about loan options, mortgage rates information, and more. Whether you are a first-time homebuyer, an experienced homebuyer, or building a new home, we provide information that can help you qualify for the loan and purchase your new home. Mortgage Rates Information from First Bank You will typically have multiple loan options to choose from before purchasing a home, including conventional mortgages, government loans, and construction loans. Two of the most popular types of home loans are conventional adjustable-rate and fixed-rate mortgages. Conventional adjustable-rate mortgages: Interest rate, monthly principal, and interest payments remain the same for an initial period of 3, 5, or 7 years, for example—then adjust periodically. Interest rate caps set a limit on how much your interest rate can increase. ARMs typically have a lower initial interest rate than fixed-rate mortgages. Monthly principal and interest payments may increase as the rate adjusts. Conventional fixed-rate mortgages: Interest rate and monthly payments stay the same for the duration of the loan. Offers protection from rising interest rates for life of the loan. Available in 15-year, 20-year, and 30-year fixed-rate loan term options. For more information on conventional mortgage rates or mortgage rates on our other home loan options, find your local First Bank loan officer today. Loans subject to credit approval. ——— Sources: Investopedia: http://www.investopedia.com/terms/c/credit_score.asp Investopedia: http://www.investopedia.com/articles/pf/05/022405.asp?lgl=mtdt-v1 2 min read

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Hurricane Helene Recovery: Financial Assistance Options 1. U.S. Small Business Administration (SBA) Disaster Loans The SBA offers a range of disaster loans to individuals, businesses, and nonprofit organizations to cover losses not covered by insurance or FEMA. These loans help cover both personal and business expenses that could have been met had the disaster not occurred. October 15, 2024 Update: The SBA announced that it has exhausted funds for its disaster loan program. Until Congress appropriates additional funds, the SBA is pausing new loan offers. The SBA is encouraging individuals and small businesses to continue to apply for loans given assurances from congressional leaders that additional funding will be provided upon Congress’s return in November. Click here to read the press release. Home Disaster Loans: Available to homeowners and renters to repair or replace damaged real estate and personal property, including vehicles. Business Physical Disaster Loans: These loans are designed for businesses of all sizes to repair or replace damaged property owned by the business, such as real estate, machinery, equipment, and supplies. Private non-profit organizations like charities and churches are also eligible. Economic Injury Disaster Loans (EIDL): These are working capital loans designed to help small businesses, agricultural cooperatives, aquaculture businesses, and private nonprofits meet financial obligations they can’t cover due to the disaster. These loans are meant to support recovery during the disaster recovery period. For more information, visit the SBA Disaster Assistance website or contact them directly. 2. FEMA Disaster Assistance FEMA offers a wide range of financial assistance programs for those impacted by natural disasters. If you have insurance, file a claim immediately, as FEMA cannot cover losses that are already insured. 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[First Bank Webinar] Homebuyer Happy Hour

First Bank Mortgage Resources

Ready to talk to an expert?

Event Details:

What to Expect:

Meet our First Bank Experts:

Register Now:

Can’t Attend? We’ve Got You Covered

Ready to talk to an expert?

You may be interested in...