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Mortgage Loan Products

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First Federal Savings Bank offers a wide variety of mortgage programs to meet the needs of every customer. Our Loan Officers are experienced and professional, and offer the expertise and guidance you need, with the competitive rates, programs, and products you want.

Home buying seminars, home building seminars, community involvement, and pre-approval consultation are just some of the things our Loan Officers do every day to stay in touch with home mortgage customers and see that your needs are met.

First Federal Savings Bank offers financing options for every aspect of the homeownership process.

Select from one of the options below to get more information on the products and programs we offer:

Click on one of the above loan options or contact us by E-mail—we look forward to hearing from you!

Home Building

Building your own home is a lifelong dream for many Americans. First Federal Savings Bank can help you reach that dream with new construction programs that can simplify the process and take the guesswork out of financing options. Our experienced Loan Officers can help you to make your dream a reality.

Whether you finance the construction with a competitive and flexible construction/perm loan or if you need and loan only when your new home is complete, your First Federal Savings Bank Loan Officer can help you find the best rate/program.

Both our Construction/Permanent loan and our 7-month rate lock End loan are available in a wide variety of loan programs. For your convenience, download an application or estimate your payment. For more information, Contact our branch near you or E-mail us—we look forward to hearing from you.

Home Purchase

Buying a home is one of the biggest events in your life, and First Federal Savings Bank can help you through it with flexible products, competitive programs, and experienced Loan Officers who have the expertise to simplify the home buying process and move you into the home of your dreams.

Our Loan Officers are involved in our communities and maintain valuable relationships with Real Estate Agents and Home Builders, and stay in touch with the needs of homeowners in our area.

Schedule a Pre-Qualification Consultation and arm yourself with information about loan programs, down payments, closing costs, payment amounts, and more. First Federal Savings Bank offers Conventional and Government financing, First Time Homebuyer programs, Jumbo programs, and more. We have fixed or adjustable rate programs, and accelerated repayment bi-weekly mortgages. Which one is best for you? Review our Loan Programs or contact one of our experienced Loan Officers to find out. For your convenience,  download an application, or submit your loan application online.

Home Refinance

When is the right time to refinance your most valuable asset? Can you get a better interest rate? Are you able to borrow additional funds to do the home improvements you have been dreaming about? It is difficult to know the answers to these questions and determine if the time is right for you. Here are just a few reasons you may be thinking of refinancing:

  • Lower interest rate/shorten term
  • Borrow additional funds (cash out)
  • Consolidate debt
  • Change loan program (i.e. ARM to fixed rate)

At First Federal Savings Bank, our experienced and professional Loan Officers can help you "do the math"! We will help you crunch the numbers to determine how much money you can save both in monthly payments and throughout the life of your mortgage. We have a wide variety of loan programs to find the loan that is right for you.

Contact our branch near you or E-mail us —we look forward to hearing from you!

Home Equity/2nd Mortgage

When you would like to take advantage of your home's increasing value to help you reach your goals, a Home Equity Line of Credit or a Closed End 2nd Mortgage may be the loan that meets your needs. These quick and convenient programs can be used for just about anything including: home improvements, education, vacations, debt consolidation, and investments just to name a few!

Depending on your individual needs, you may prefer one product or the other. Which one is best for you? Use the table below to find out:

Home Equity Line of Credit
What it offersWhy you may choose this service

FLEXIBILITY:

  • Draw loan funds by simply writing a check
  • Low minimum payment only on the amount drawn
  • Funds can be used/reused similar to a credit card
If you do not need all of the loan funds immediately or if you would like to be able to reuse the funds after you have repaid them. Great for "emergencies" like an unexpected major purchase-IT'S AS EASY AS WRITING A CHECK!
Closed-end 2nd Mortgage
What it offersWhy you may choose this service
STABILITY:
  • Fixed payment amount for a set repayment term
  • Fixed repayment terms from 1-15 years
  • Low fixed interest rate set for the life of the loan
If you know you need an exact amount of money and the stability of a set payment every month. Loan repayment term can be "tailored" to your budget by choosing the term that meets your needs.

PLEASE NOTE: A Home Equity Line of Credit or a Closed End 2nd Mortgage may have tax benefits. Contact your tax advisor for more information on these benefits.

For more information, Contact our branch near you or E-mail us —we look forward to hearing from you