First Horizon Bank mortgage review: rates, costs & calculator

First Horizon Bank at a glance

First Horizon Bank is a Memphis-based regional lender whose roots run deep across the South. It operates the traditional way most community and regional banks do: mortgages are originated through its branch network and loan officers, with the bank holding relationships that span checking, wealth management, and home financing rather than functioning as a rate-shopping refinance shop.

That footprint shows plainly in its lending. In 2025 it originated 8,447 home loans worth roughly $3.5 billion, and its geography is unmistakably regional — Tennessee alone accounted for 4,456 of those loans, followed by Louisiana, Florida, Texas, and North Carolina.

The bank spent 2022 and 2023 in a state of limbo after TD Bank agreed to acquire it in a deal valued around $13.4 billion.

That acquisition was mutually terminated in May 2023 after the parties cited an uncertain regulatory-approval timetable, and TD paid First Horizon a $200 million termination fee.

Where First Horizon Bank's approval rate sits

First Horizon Bank's 2025 approval rate of 74% sits against the 76.6% national average. Read it as a signal of channel, not strictness — wholesale, online and refinance-heavy lenders run lower because so many applications are rate shops that never close.

First Horizon remains an independent, publicly traded company and has since redirected attention toward its own technology and product roadmap rather than an integration.

Where First Horizon stands out is professional and specialty lending. Its physician and dentist mortgage program is a genuine differentiator, and it pairs a conventional and government-backed menu with construction-to-permanent financing that a purely online lender rarely handles well.

With an average loan size around $420,000 and a 74% HMDA approval rate, its book reads like that of a relationship bank serving move-up buyers and professionals across its Southern markets.

Who First Horizon Bank is best for

First Horizon is worth a look if you live in its Southern footprint — Tennessee, Louisiana, Florida, Texas, the Carolinas — and value a branch-based lender you can sit across from.

It is especially compelling for physicians and dentists early in their careers, and for buyers who want construction-to-permanent financing under one roof. Existing First Horizon banking or wealth clients will find the mortgage side integrates naturally with the rest of the relationship.

Loan programs at First Horizon Bank

Its most notable programs and specialties:

• Physician and dentist mortgage program: up to 100% financing to $1.5M (and up to 90% to $2.5M), no PMI, and student-loan debt excluded from the DTI calculation, for eligible MD, DO, DPM, and OMS professionals
• Conventional fixed-rate and adjustable-rate mortgages
• VA loans for eligible veterans and service members
• Construction-to-permanent financing for building or major renovation
• Jumbo financing above conforming limits
• First-time homebuyer and affordable-housing loan options

Typical industry minimum down payment by core loan type — First Horizon Bank's own minimums or credit overlays may run higher:

Where First Horizon Bank lends most

By federal HMDA records, First Horizon Bank's largest 2025 markets were Tennessee, Louisiana, Florida, Texas and North Carolina. Explore local rates, home prices and down-payment assistance for each:

States where First Horizon Bank is a top-15 lender

Ranked by home loans originated in 2025 (HMDA). Each state page compares First Horizon Bank with the other leading lenders there, including FHA and VA leaders and what their borrowers paid.

The verdict

First Horizon is a solid, conventional regional bank lender for buyers inside its Southern footprint, and a standout choice for physicians and dentists thanks to its no-PMI, student-debt-friendly loan.

Its 2025 volume of 8,447 loans and 74% approval rate reflect steady relationship lending, not aggressive online origination.

Now firmly independent after the TD Bank deal was called off, it best suits borrowers who want a branch, a loan officer, and products like construction-to-permanent financing.

How to compare First Horizon Bank

Shopping a few lenders is the single most reliable way to save. Before you commit to First Horizon Bank:

1. Get three or more Loan Estimates in a two-week window — the bureaus treat it as one inquiry.
2. Compare the APR, not just the headline rate — it folds in the fees.
3. Weigh service and loan-type fit, not price alone.
4. Verify licensing: search First Horizon Bank on NMLS Consumer Access and match the NMLS ID to the one on your Loan Estimate. (Its LEI in federal HMDA data, COOWI3L2W9TPYR3WJX37, is not a license number.)

Benchmark whatever you're quoted against today's average mortgage rates.