These home loans feature a fixed interest rate for the life of your home loan, so your monthly payments (principal and interest) will always be the same. Most homebuyers choose 15- or 30-year fixed rate loans, although 10- and 20-year loans are also available. The fixed rate home loans are usually your best choice when interest rates are low and you plan to stay in your home for at least five years.

First Horizon's fixed-rate home loans are for a variety of potential homebuyers. These include:

• Low-down payment programs:  these are often ideal for first-time home buyers and buyers who have not saved a large down payment, but prefer to buy a home and begin building home equity immediately
• Balloon mortgages:  balloon mortgages are for homeowners planning to sell their home or refinance their home loan within seven years or want to enjoy lower home loan interest rates and monthly home loan payments when upgrading to a larger home
• Government programs:  home loans that are sponsored by the FHA (Federal Housing Administration) or VA (Veteran's Administration).
• Jumbo loan programs:  loans for homes over $417,000
• Second mortgages:  these are often combined with first mortgages to eliminate the need for private mortgage insurance (PMI)
• Interest-Only Home Loans:  loans that involve a home loan payment option that offers lower home loan payments during the first years of the home loan

These are just a few of our innovative fixed rate mortgages. Please ask your First Horizon Relationship Manager for details on other home loans offered.