Author: Abby Vaquerano

For Every Buyer, There’s a Seller

June 2, 2021

The media is filled with stories about first-time home buyers, buyers of 2nd homes, older people obtaining reverse mortgages… but what about “first-time sellers”? The housing market has been heating up in many areas, especially as the weather improves, and buyers complain that there are too few properties to purchase; prices are high, rates are low, and demand is skyrocketing. So what is stopping an owner from selling their house today and moving on to the next one?

A high-cost transaction can be very intimidating for a first timer, especially in a market such as this one. Borrowers are educating themselves about the process so that they can approach selling their house with confidence. Sellers should meet with a loan officer to see what they can afford before selling their current home, even if it is possible for them to purchase without having first sold, which gives them extra buying power. Our qualified loan officers will walk sellers through the steps and options. Many people discover that they can qualify to make a step up in housing without having their current home sold, which gives them a lot more flexibility because they can buy before they sell.

Our loan officers can also inform the seller of the costs of obtaining a new home loan, what programs are available, a general timeline, what is required for underwriting, and common mistakes that are made. These include unrealistic expectations, trying to obtain new credit cards or debt prior to buying another home, and so on.

Once a potential seller understands their buying power and the process, they should meet with a real estate agent for the selling side and the buying side to determine a pricing strategy for selling and a timing strategy for buying. They should know what their buying power will obtain, and study communities where they are likely to purchase. The listing agent for a house will tell the owners to clean up, spruce up, and stage the house for sale, give the first-time seller a timeline, and discuss the possibility of renting after a house is sold. Inventory is tight in many areas, so if a buyer falls in love with a house they will work with the seller’s timeframe.

First Community Mortgage’s Employee-Directed Foundation: Annual Rambo Scholarship Awarded

April 29, 2021

 Middle Tennessee State University recently awarded the FCM Cares’ annual Andrew C. Rambo Memorial Scholarship to Murfreesboro, TN, native Katelyn (Katie) Gardner.

Gardner, of Englewood, TN, will graduate this month from MTSU with a Bachelor of Business Administration. She plans to use the scholarship toward an MBA degree, also from MTSU.

“This scholarship will allow me to be financially independent as well as pay for the remainder of my MBA program and personal training certification,” Gardner says. “That enables me to not have to take out student loans and to graduate debt-free, which I know is a rare and wonderful circumstance in today’s world.”

Gardner anticipates graduating in August 2022, after which she hopes to pursue a career in B2B sales and eventually start her own business. 

“We are proud of Katie, her hard work thus far and the clear vision she has about earning an advanced degree, working as a personal trainer while doing so and having a career plan in mind,” says Keith Canter, Chairman & President of FCM Cares and CEO of First Community Mortgage. “It’s a bonus that Katie loves being an MTSU Blue Raider so much that she is sticking around to do her graduate work there.”

Now in its fifth year, the Andrew C. Rambo Memorial Scholarship was established by FCM Cares Inc., a 501(c)(3) organization. Rambo was board chair of First Community Bank and board member of First Community Mortgage. To learn more about the Rambo Scholarship and FCM Cares, please visit www.FCMCares.org

“Andy Rambo served his community in many ways and cared about giving back to his community,” Canter says. “This is why FCM Cares was proud to create the scholarship in his honor, helping others who also are always wanting to learn and help others. We’re proud to reach this milestone, awarding Andy’s scholarship for the fifth year.”

View original press release here: https://www.murfreesboropost.com/news/state/first-community-mortgages-employee-directed-foundation-annual-rambo-scholarship-awarded/article_f9eda2e4-8114-5ccc-82c6-5daa39c004b7.html

First Community Bank adds local mortgage executive to Board of Directors

April 21, 2021

First Community Bank (FCB) has added Keith Canter to its Board of Directors. Canter is CEO of First Community Mortgage, and one of the 19-year-old organization’s founders.

“Keith already has a close working relationship with the bank and with so many people in our community that his joining First Community Bank’s board is a natural,” says Scott Cocanougher, CEO of the bank, who also is a board member. “He brings tremendous talents and experience to our organization and understands well its unique role in the community, including our emphasis on people and on community reinvestment.”

Canter is a financial services executive and entrepreneur. In addition to his role of CEO of First Community Mortgage (FCM), he also serves as Chair and President of FCM Cares, FCM’s employee-driven, community-focused foundation. Based in Murfreesboro, FCM is a full-service residential mortgage lender that originates mortgages in 46 states. Canter was previously a partner in Cambridge Equities, LLC, and served on the Advisory Board for the Tennessee Housing Development Agency.

“I am honored and excited to join the bank’s board, especially knowing First Community Bank’s heart and investment are in the community, including its focus on people – from its team members and shareholders to the citizens of the communities we serve,” Canter says. “I look forward to lending whatever expertise I can while also learning how I can help this hometown bank continue to be best positioned to serve future generations of Middle Tennesseans.”

In addition to Canter, other members of First Community Bank’s board are Lee Adcock, general contractor; Mark Cannon, retired telecom executive; Dr. Jimmy Clark, retired dentist; Tom Clifford, retired, First Community Bank; Cocanougher; and Barry Cooper, private investor.

View original press release here: https://news.murfreesboro.com/first-community-bank-adds-local-mortgage-executive-to-board-of-directors/

Top-producing Middle Tennessee Mortgage Pro Joins First Community Mortgage

March 25, 2021

FCM has named mortgage veteran Jason Kaplan as a Vice President based in FCM’s Cool Springs office in Franklin. While the majority of his borrowers are in Middle Tennessee – primarily Williamson County and Davidson County – he can originate mortgages for consumers in the many markets in which FCM is licensed across the country.

“Jason is a highly experienced mortgage pro who blends his expertise and insight with the time necessary to learn the short- and long-term real estate and financial goals of his borrowers,” says Dan Smith, President of First Community Mortgage. “In doing so he has created satisfied, loyal customers and business partners who appreciate his time, talents and service. We are excited to have him join our growing team.”

With 20-plus years of experience in the mortgage banking business, Kaplan has helped many people achieve their dream of homeownership, whether they are refinancing an existing loan or purchasing a home for the first time. He has a strong financial background which allows him to analyze his client’s needs and help choose a mortgage that is best for each individual. He was previously with FirstBank Mortgage (formerly Franklin Synergy).

“My goal is to make the mortgage process smooth and comfortable,” Kaplan says. “I want to take the stress out financing and enable you to enjoy your new home. To keep things stress free, I make sure to set expectations and keep my word, whether it is about having paperwork in order, being on time, responding timely and meeting deadlines.”

His work was recognized with a Nashville Mortgage Bankers Association (NMBA) Diamond Award in 2019. The Wake Forest University (B.S in Business) graduate has lived in the middle Tennessee area for 15 years. He and his wife live in the Westhaven community with their three children, a boy and two girls.

Also joining First Community Mortgage are Kaplan’s colleagues Billy M. Harter and Johnny Smith, as well as the team members who support them across the many aspects of the loan processes.

View original post here: https://www.prnewswire.com/news-releases/top-producing-middle-tennessee-mortgage-pro-joins-first-community-mortgage-301255295.html

Award-Winning Mortgage Loan Originator Joins FCM

March 23, 2021

FCM has named mortgage veteran Billy M. Harter as a Vice President based in FCM’s Cool Springs office in Franklin. While the majority of his borrowers are in Middle Tennessee (including Nashville, Brentwood, Franklin, Thompson’s Station, Spring Hill, Columbia, Murfreesboro, Mt Juliet and more), he can originate mortgages for consumers in the many markets in which FCM is licensed across the country.

“Billy strategizes so that he helps every borrower meet their short- and long-term needs and financial goals,” says Dan Smith, President of First Community Mortgage. “And is especially adept at helping homebuyers and working with a full range of mortgage products, from conventional and jumbo to FHA, VA and USDA. He prides himself on leveraging FCM’s internal resources and people power to create a smooth lending process and, whenever possible, quick closings, which makes him a great fit for our team.”

Harter has been in the financial industry for 15 years, closing over half a billion in mortgage loans. He has been recognized and received awards every year since 2008 by the Nashville Mortgage Bankers Association for loan production. Harter also keeps an umbrella of other resources borrowers may need, such as referrals to trusted insurance, tax, estate or financial planning pros. He was previously with FirstBank Mortgage (formerly Franklin Synergy).

“I get to know my borrowers, taking into account current economic conditions,” Harter says. “I offer an extensive line of loan products and manage the entire process so that there are no surprises.”

He holds a Bachelor of Business Administration from the University of Memphis-Fogelman College of Business & Economics, where he majored in Finance with a concentration in Real Estate. He lives in Columbia with his wife and children.

Also joining First Community Mortgage are Harter’s colleagues Jason Kaplan and Johnny Smith, as well as the team members who support them across the many aspects of the loan processes.

View original press release here: https://www.prnewswire.com/news-releases/award-winning-mortgage-loan-originator-joins-first-community-mortgage-301253692.html

FCM Names New VP Of Regional Production

March 19, 2021

Navi Persaud – NMP Daily

First Community Mortgage (FCM) has named Johnny Smith Vice President of Regional Production. He has more than 20 years of experience in the mortgage industry. 

“Johnny has managed both Operations and Sales, so he is very in tune with all areas of the business, which helps him help our team avoid any surprises for our customers,” says Dan Smith (no relation), president of FCM, according to a press release. “While he does not often have direct customer interaction, they benefit from his expertise, as he ensures the workflow continues moving efficiently and accurately, with ongoing improvements.”

Johnny Smith is based in FCM’s Cool Springs office in Franklin. He comes to the organization as part of the team including Jason Kaplan and Billy M. Harter – whose operational efforts he coordinates – as well as those who support the team across the many aspects of the loan processes.

“We offer loan programs to fit everyone’s needs, but most importantly, a team that will help guide borrowers through the process. Our team has the experience and insight that benefits borrowers, and I focus on processes and improvements that ensure a great lending experience, whether the customer is a first-time home buyer or has purchased or refinanced a number of homes,” said Smith.

In addition to previously working with First Community Mortgage, including serving as manager of Branch Operations, Product Support, and later branch sales manager, Smith was the operations manager at a regional bank and last served as vice president and sales manager for First Bank (formerly Franklin Synergy Bank).

View original press release here: https://nationalmortgageprofessional.com/news/76542/names-regional-production