F&M Bank Offers THDA’s “Take Credit” Mortgage Program

Clarksville, TN – F&M Bank was the first Mortgage lender in Tennessee approved to offer the Tennessee Housing Development Agency’s (THDA) “Take Credit” program.  Take Credit is a Mortgage Credit Certificate (MCC) program authorized by Congress in the 1984 Tax Reform Act.

A MCC is a not loan, it is applied for with a mortgage and permits eligible homebuyers to take a federal tax credit up to $2,000 maximum per year based on the mortgage interest paid by the homebuyer.

The tax credit may be used to lower a homebuyer’s income tax liability each year the home remains owner occupied by the certificate holder (the homebuyer) … it can amount up to $60,000 in savings over 30 years.  The tax credit can be used with a VA, Conventional or FHA loan.

If you are a first time homebuyer, a military veteran or a repeat buyer buying a home in certain targeted areas, you may be eligible.  “For a limited time, F&M Bank is waiving the $150.00 application fee as well as all processing costs,” according to Denise Alexander, Sr. Vice President and Mortgage Operations Manager.

For further details, visit myfmbank.com.  F&M Mortgage Loan Originators are also available to assist you with the application process.  For assistance, call 615.372.7734 in Davidson County, 615.372.7721 in Williamson County, 931.906.0005 in Montgomery County and Stewart County, 615.496.8841 in Wilson County, 615.848.7900 in Rutherford County, 615.496.8841 in Putnam County and 615.824.2316 in Robertson County  and Sumner County.

About F&M Bank

F&M Bank has assets exceeding $925 million and operates 15 full service banking offices in Davidson, Montgomery, Robertson, Stewart, Sumner, Rutherford and Putnam Counties, plus additional mortgage offices in Davidson (Green Hills) and Williamson (Brentwood) counties.
Member FDIC.  Equal Housing Lender.  NMLS #518158.

For additional information, contact:  Fred Landiss, Sr. VP – Marketing, fred.landiss@myfmbank.com, 931.553.2029.