- Q. How do I make my monthly payments?
- A. We offer several options for your convenience.
- Mail: Send a check or money order made payable to First Horizon Home Loans®. Be sure to write your account number on the check or money order and send it with your payment coupon to:
First Horizon Home Loans
P.O. Box 809
Memphis, TN 38101-0809
Please allow adequate time (7-10 days) for us to receive and process your payment.
- Automatic bank draft: You may set up Automatic Clearing House (ACH) payment for each month to be deducted from your bank account. Please refer to the back of your monthly statement for instructions. You may also fax a request for ACH payments, with a voided check and your account number, to the First Horizon® Draft Department at (214) 441-5387.
- Telephone: Call (800) 364-7662 and select Option 1 to be taken to our "Just In Time" payment service. This automated system enables you to make a payment in seconds by entering your checking or savings account details over the phone.
- Online: Visit www.firsthorizon.com to log in, view your billing statement, make a payment via Home Loan Online and more.
- Q. I would like to pay off my home loan sooner by making additional payments. How can I do this?
- A. To sign up for our Equity Accelerator Payment Program, call (800) 364-7662 to speak to a Customer Service Representative. You may also send in additional payments to your loan's principal by recording the amount in the Additional Principal section of your payment coupon and adding it to your regular monthly payment.
Escrow Account Information
- Q. What is an escrow account?
- A. An escrow account is maintained by your mortgage lender for payment of your property taxes, home owners insurance, private mortgage insurance (PMI) and related items. Your monthly loan payments may include contributions to a First Horizon escrow account - this ensures there will be sufficient funds available to pay your home's taxes, insurance and other costs.
- Q. What is an escrow analysis?
- A. Each year we will review your account to estimate future escrow payments and disbursements. This review helps to ensure that your escrow account will have sufficient funds to pay your taxes and insurance when they are due.
- Q. Will my monthly contributions to my escrow account ever change?
- A. We will review your escrow account at least once a year. If your review indicates your account contains sufficient funds to pay your annual taxes and insurance, we will refund any excess to you over $49.00. Any overage less than $49.00 will be deducted from your next monthly payment.
- If an escrow review indicates that your account balance will soon have insufficient funds, your monthly loan payment will be increased to cover this shortage.
- Q. Will my escrow account pay my property taxes?
- A. First Horizon's Tax Service will contact your local tax office for your property tax information, and will pay the amount reported to us.
- Depending on your location, you may receive a supplemental tax bill for additional taxes assessed on your home. This bill will be in addition to the original amount reported to First Horizon, and we will not automatically receive information about supplemental tax bills. If you prefer that we pay your supplemental taxes from your escrow account, please send us a copy of the bill together with your personal information and loan number.
- First Horizon cannot pay special assessments to your property or personal property taxes.
- Please contact us if you receive a tax bill or assessment and are not sure who is responsible for payment.
- Q. Will my homeowner's insurance premium be covered by my escrow payments?
- A. Yes. Please check with your insurance agent to make sure that your homeowner's insurance policies and invoices are forwarded to us. Your insurance notices should be sent to the address shown on the back of your First Horizon loan statement.
Online Security and Information Access
- Q. I am a First Horizon customer; can I check my loan information online?
- A. Yes, from the home page, there is a box, "Current Customer Log In." Click the "Log In" button. You will need your loan number and social security number to enter your loan information. From this secure area, you can view your account information and maintain your personal information.
