Home Loans
As a
mutual bank, our top priority is helping families like yours buy homes.
You'll find a wide range of mortgage options available to you at First Federal Bank. In fact, we have more affordable loan solutions than virtually every other major home lender. That means we have the resources you need to make smart mortgage decisions that make good financial sense for your family.
Affordable FHA Loans
First Federal Bank has been an FHA-approved lender since FHA was founded in the 1930s! An FHA loan is a 30-year fixed-rate mortgage that is insured by the Federal Housing Administration (FHA.)
Because these loans are backed by the government, you aren't required to make a large down payment when you purchase your home. This makes FHA a great option to consider if you're a first-time home buyer.
Plus, FHA loan rates are very attractive, so apply today, or talk to one of our home loan specialists to learn more.
Thirty-Year Fixed Rate Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper.
When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.
Portfolio & Investor Loan Options
Unlike most home lenders, First Federal Bank has several loan programs available to help you make the best mortgage decision for your family.
We have a selection of loans available that may be right for you if you prefer the peace of mind that comes from getting a loan from us and knowing that we keep it. This type of loan, known as a Portfolio Loan, is retained by First Federal Bank, in most cases. These loans include our Exclusive Loan Options that few local lenders can match.
In addition to Portfolio Loan options, you can choose from our Investor Loan options. An Investor Loan is a home loan that we make to you, and then sell to another financial institution. Because of our 75+ year reputation for excellence, many investors allow us to offer you their very best mortgage rates, so contact us today to learn more about all the home loan options you have at First Federal Bank!