Terry Bivins
HECM Senior Vice President
NMLS#217764
Terry graduated from the University of Illinois Chicago with a Bachelor of Science degree in Quantitative Methods. He entered the mortgage industry in 1982 after ten years in the insurance industry. Having learned of reverse mortgages in 1992, he made the decision to specialize in Home Equity Conversion Mortgages in 2003.
He is a past president of the Illinois Association of Mortgage Professionals as well as the past Chairman of the Mortgage Education Foundation. He is a recognized expert in the reverse mortgage industry and a resource for the State of Illinois Department of Aging and the City of Chicago Department of Family Services where he conducts seminars on reverse mortgages. He has appeared on TV and radio in Chicago. Terry has been a nationally approved instructor teaching an Introduction to Reverse Mortgages for Financial Professionals. His knowledge and credibility is accepted without question when people learn that he has a reverse mortgage on his home. After years in senior management, Terry made the decision to work directly with older adults, their families and their financial advisors. Terry says there is nothing like helping someone improve their financial security and peace of mind with a reverse mortgage.
Terry and his wife Lyn of 42 years split time between Sarasota, Florida and Sheboygan, Wisconsin. Although they do not have kids of their own, they stay in close contact with their six godchildren and their kids. He is a veteran of the United States Air Force including 18 months in Southeast Asia. In his spare time he and Lyn enjoy reading and gardening.
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ABOUT THE FEDERAL SAVINGS BANK
At The Federal Savings Bank, we’re deeply committed to turning homeownership dreams into reality. Our diverse loan portfolio, nationwide reach and in-depth understanding of local communities allows us to provide personalized service and solutions that help meet our clients’ needs. Ultimately, we strive to empower families to create a place called home.
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Consult your financial advisors and appropriate government agencies for any effect on taxes or government benefits. Calculator disclaimer: The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. Subject to credit approval. Terms and conditions may apply. Property insurance is required on all loans secured by property.
Consult your financial advisors and appropriate government agencies for any effect on taxes or government benefits. This calculator provides an estimate of your monthly mortgage payment based on general assumptions. It does not account for all loan types or features, such as fixed vs. adjustable rates, mortgage insurance (MI), or Federal Housing Administration (FHA)-specific MI. Actual terms may vary and should be confirmed with a lender.
Calculator disclaimer: The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The calculation is based off of a fixed rate conventional loan with no Mortgage Insurance. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. Subject to credit approval. Terms and conditions may apply. Property insurance is required on all loans secured by property.
Consult your financial advisors and appropriate government agencies for any effect on taxes or government benefits. Calculator disclaimer: The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. Subject to credit approval. Terms and conditions may apply. Subject to VA eligibility requirements. Property insurance is required on all loans secured by property.
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